Fitness Industry To Grow $2.87 Billion

IBISWorld forecast that keeping Australians fit and healthy would be big business. The fitness industry in Australia is expected to be worth $2.87 billion. IBISWorld is a global market research firm that monitors developments in almost all industries. 

The news didn’t come as a surprise since Australia ranks as one of the most overweight countries in the world. Although the fitness industry grows only 1.4 percent annually in the last five years, industry experts say that this will change soon. 

As Australians become more aware of the need to be healthy, more people will turn to buying gym equipment or attending gym classes altogether. More affordable health and fitness alternatives are also available like self-help books, supplements, etc. 

The increasing awareness has also been fueled by the popularity of fitness TV show The Biggest Loser. The TV show has gained a strong following and advertisers have been quick to jump on the bandwagon. Some of the show’s advertisers are fitness services, vitamin and weight-loss supplements, and gym equipment, among others. 

Experts see the fitness industry growing significantly in the next five years with revenues. The older population is the potential key driver in the industry’s growth. They are likely to need fitness services like gym membership, consultations, etc. 

Four major players currently lead the fitness industry. These are Rebel Group, RCG Corporation Limited, Fitness First, and YMCA Australia. Fitness First is the largest among the four players. Its first store opened in Australia in 2000 and has then allowed franchises to operate.

Tagged fitness, Fitness First, IBISWorld, YMCA