Looking Beyond COVID: The Shifts Ahead in the Physical Activity and Fitness Markets
The GWI’s most recent research report on the global wellness economy includes a complete update on the six-sector physical activity market: fitness ($77 billion), sports and active recreation ($200 billion), mindful movement ($30 billion), fitness technology ($49.5 billion), sports and fitness equipment ($105 billion), and sports apparel and footwear ($293 billion). It reveals which segments were the “winners” and “losers” in the pandemic year of 2020: from the fitness segment (gyms, studios, classes) taking the biggest hit (a 37% revenue drop) to fitness technology exploding by 29%.
GWI finds that the total physical activity market stands at $738 billion. And the future is very bright: revenues will nearly double between 2020-2025, to reach $1.2 trillion. GWI’s researchers predict three major shifts in physical activity as we emerge from Covid: 1) The “why” of physical activity will pivot to mental wellness, 2) a growing at-home fitness market will further attract big tech and big media, and 3) physical activity will become a right and an essential health service.