Exercise & Workout Industry 2023

The exercise and workout industry has seen explosive growth in recent decades. And with consumer interest in health and wellness ever increasing, it looks set to remain a growth area for years to come. But which segments offer the biggest opportunities and what’ll be the next big thing?

In this article – we’ve collated the latest workout and exercise industry statistics into one handy resource, that includes market size, growth, and trends.

Workout Industry Overview

The exercise and workout market is estimated to be worth $244bn globally and growing at a rate of 5-10% per year. It’s just one pillar of the multi-trillion wellness market, which also comprises health, nutrition, sleep, mindfulness, and appearance. The workout market’s sustained growth is driven by consumer awareness of the health and physical appearance benefits of exercise, combined with increasing prevalence of lifestyle diseases.

2023 Fitness Industry Report

The most comprehensive and up-to-date report on the fitness industry available. Includes revenue, growth, and future predictions plus much more.

Exercise Industry Market Segments

The exercise and workout industry is made up of several market segments….

• Gyms and fitness studios – the gym industry is worth $81.5bn.
• Fitness equipment – the exercise equipment industry is currently worth $13.8bn.
• Instruction & training – includes the home workout instruction and personal training industry.
• Apparel & wearables – clothing, trainers, and fitness trackers all fall into this category.
• Online & digital fitness – includes online workout training and fitness apps.

These are the main segments within the fitness market but don’t represent an exhaustive list. It’s a continually evolving industry that adapts with consumer preferences and technological innovations.

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Consumer Exercise Habits & Attitudes

Let’s look at how consumers view exercise and their fitness habits…

• 28% of the world’s adults (1.4 billion people) are insufficiently active (WHO).
• In the US, 46.9% of the population meet aerobic physical activity guidelines and 24.2% meet them for aerobic and strength activity (CDC).
• In the UK, 61.4% are physically active (i.e. do 150+ minutes of moderate exercise per week) (UK Government).
• 81% of adolescents aged 11-17 years are insufficiently physically active (WHO). 
• Motivations for exercising are evolving – 10 years ago the top-cited reason was to look good, two years ago it was to control weight, last year it was stress relief and in 2023 it’s about longevity (DJS & Mindbody).
• 40% of people consider wellness a top priority in daily life (McKinsey).
• Mental health is an increasingly important element – exercise is the most commonly reported tool for relieving stress (McKinsey).

What’s clear from these exercise statistics is that there continues to be a gap between the number of people who want to work-out and the number who actually do. This is a long-running challenge for the fitness industry, but shows that there’s still an under-served market offering huge opportunity.

Workout & Exercise Trends

From cosy cardio to plogging, the workout industry is never short on new exercise trends. Based on the ACSM’s latest survey, there are six workout trends highlighted within the more general top 10…

• Strength training with free weights
• Body weight training
• Functional fitness training
• Outdoor activities
• High-intensity interval training (HIIT)
• Exercise for weight loss

The first three indicate an overall trend towards people wanting to improve their strength, whether that’s through free weights, body weight exercises, or functional movement.

Comparing 2023’s survey results to previous years is a helpful way to identify longer-term trends in fitness. Doing this allows us to see which trends are consistently increasing in popularity year on year.

Using this approach, we’ve identified outdoor activities, virtual training, and health and wellness coaching as growth areas. All three have either increased in popularity year on year or debuted strongly and look set for continued demand in 2023 and beyond…

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The Role of Technology

Technology has become an integral part of the exercise industry, revolutionizing the way individuals approach their fitness goals and how businesses operate. This tech-driven transformation encompasses several key aspects…

• Fitness apps – from tracking to guidance, they keep users motivated, help them achieve fitness goals, and many integrate with wearable devices.
• Wearables – such as fitness trackers and smartwatches have gained widespread popularity by providing real-time data, immediate feedback, and competition elements.
• Artificial Intelligence (AI) – is now able to generate tailored workout plans, nutrition advice, and even exercise recommendations.
• Virtual Fitness Experiences – Virtual reality (VR) and augmented reality (AR) are immersing users in captivating environments or overlaying digital elements onto the real world, making exercise both fun and effective.
• Data Integration – Wearables, fitness apps, and even gym equipment can share data seamlessly, streamlining the user experience and providing a comprehensive view of their health journey.

Technology’s influence on the exercise industry continues to evolve. It’s able to enhance motivation, personalisation, and accessibility, while supporting community and social engagement for users. Tech can empower individuals to take control of their health and fitness, providing the tools and motivation needed to lead active and balanced lives.

Future Outlook

The exercise industry is one of the cornerstones of well-being and is expected to continuing growing at 5%-10% each year. Plenty of segments within it will experience double-digit growth – brands that move early can benefit from huge revenue opportunities.

From gyms to home workouts, and clothing to apps, the industry addresses diverse needs and preferences. As sedentary lifestyles and levels of physical inactivity increases, along with associated illnesses like type 2 diabetes, cardiovascular disease, and cancer, the role of exercise will grow increasingly important. The industry can play an indispensable role in fostering healthier, more active lives, but will need to continue innovating and adapting to do so.

Fitness Industry Research Report

This is the most comprehensive and up-to-date industry research report available. Unlike others, you get extended access to the 2023 edition, including any updates that are made as new market data becomes available. Ideal for business planning, the report includes;

• Industry growth, revenue & future predictions
• Online & virtual fitness market developments
• Impact of recent global events & estimated recovery timelines
• Number of gyms, members & retention statistics
• Growth markets, segments & audiences including Millennials
• Latest industry trends & how to capitalise on them
• Financial information for the largest club operators globally
• Biggest & fastest growing fitness franchises
• Insights into the personal training & boutique market segments
• Data on fitness product, equipment & wearables markets
• Evidence-based predictions for the future of the industry
• 14-day money-back guarantee, no questions or hassle​

2023 Fitness Industry Report

The most comprehensive and up-to-date report on the fitness industry available. Includes revenue, growth, and future predictions plus much more.

Sources

McKinsey, WHO, CDC, UK Government, DJS, Mindbody.