After some tough times coping with Covid restrictions the gym and fitness sector in the UK is now growing at a rapid pace. In 2022, the industry generated over £5 billion in revenue, and it is expected to continue to expand in the coming years.
According to the International Health, Racquet and Sportsclub Association (IHRSA), the number of gym members in the UK has increased by 20% in the past ten years. In 2022, over 10 million people in the UK had a gym membership. This is up from around 9 million in 2021.
The growth of the gym business in the UK is being driven by a number of factors, including:
- Increasing awareness of the health benefits of exercise. People in the UK are becoming more aware of the importance of exercise for physical and mental health. This is leading more people to join gyms and fitness centres.
- There is a growing interest in boutique fitness studios offering specialised classes and services, such as spin, boxing based training, pilates, and CrossFit. This move away from the 'warehouse' style gyms at the bottom of the market is driven by highly trained Personal Trainers offering a tailored service to clients within new 'club' style gyms.
- The online fitness market is also growing rapidly, again driven by personal trainers seeking to expand their clientele by becoming influencers.
- Covid lockdown policies drove the fitness industry online and there are now many websites and apps that offer well-crafted fitness programs, workouts, and nutritional advice. This is making it easier for people to get fit without having to go to a gym, though the online trend must be treated with caution as niche specialists such as Peleton are having a tough time.
The growth of the gym business in the UK is good news for both the economy and the health of the population. A healthy population is a more productive population and a major side benefit is the fitness industry becoming a significant employer. According to a report by Future Fit, in 2023 there are now more than 190,000 people employed in the fitness and gym sector. Our own assessment is that with so many self-employed personal trainers this figure is likely to be an underestimate.
Kingpin Advisory are currently working on an important project within the fitness and gym sector.