Health and Fitness Club Market Analysis: Revenue Trends, Development Outlook, and Forecast to 2030
The global health and fitness club market size was valued at USD 112.17 billion in 2023. The market is projected to reach USD 202.78 billion by 2030, recording a CAGR of 8.83% during the forecast period.
Health and fitness clubs are centers equipped with advanced amenities to offer full-body wellness to health-conscious individuals. The demand for these clubs has increased in recent years as they... moreHealth and Fitness Club Market Analysis: Revenue Trends, Development Outlook, and Forecast to 2030
The global health and fitness club market size was valued at USD 112.17 billion in 2023. The market is projected to reach USD 202.78 billion by 2030, recording a CAGR of 8.83% during the forecast period.
Health and fitness clubs are centers equipped with advanced amenities to offer full-body wellness to health-conscious individuals. The demand for these clubs has increased in recent years as they improve their physical health and also offer programs that take care of their mental health. The growing percentage of the fitness-conscious population is one of the key factors that will accelerate market growth.
Fortune Business Insights™ displays this information in a report titled, "Health and Fitness Club Market, 2024-2030."
List of Key Players Profiled in the Health and Fitness Club Market Report:
24 Hour Fitness USA, LLC (U.S.)
Gold's Gym International, Inc. (U.S.)
Life Time, Inc. (U.S)
Planet Fitness Franchising, LLC (U.S)
CrossFit, LLC (U.S)
The Bay Club Company (U.S)
Equinox Group (U.S)
CRUNCH FITNESS (U.S)
Basic-Fit (Netherlands)
SATS Group (Singapore)
Segments:
Preference for Personalized Training to Increase Due to Rising Demand for Personal Attention and Expert Advice
Based on type, the market is segmented into personal training, group training, and self-training. The personal training segment dominates the global health and fitness club market share as more people seek personal attention and expert advice from personal trainers to enhance the results of their workouts.
Individuals Aged 20-40 Years to Increase Service Demand Due to Growing Fitness Consciousness
Based on age group, the market is divided into up to 20 years, between 20 and 40 years, 40 to 55 years, and over 55 years categories. The between 20 and 40 years segment might dominate the market during the forecast period as people in this age category are becoming more health conscious.
Concerning region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
COVID-19 Impact:
Stringent Movement Restrictions Impeded Market Growth During Pandemic
The COVID-19 pandemic negatively impacted the market progress as governments across the world enforced social distancing norms and lockdowns to contain the spread of the virus. This factor compelled health and fitness club owners to shut down their operations. Moreover, many people turned to at-home workouts by accessing exercise videos on online platforms. This scenario impeded market growth during this period.
Report Coverage:
The report has conducted an in-depth study of the market and highlighted various crucial areas, such as leading service types and age groups. It offers key insights into the market’s competitive landscape, recent market trends, and top industry developments. Apart from the abovementioned factors, the report delves into several factors that have bolstered the market’s growth.
Drivers and Restraints:
Growing Health and Fitness Consciousness Among People to Amplify Market Growth
More people are increasing their spending on various wellness programs as there has been a considerable rise in the awareness and importance of maintaining good health among people in recent years. This awareness grew tremendously after the COVID-19 pandemic as having excellent immunity reduced people’s chances of contracting the virus. This factor prompted many people to buy health and fitness club memberships to take better care of their health.
However, high membership costs and a growing inclination toward home workouts may decline the health and fitness market growth.
Regional Insights:
North America to Dominate Global Market Due to Increasing Prevalence of Chronic Diseases
North America dominated the global market in 2022 due to the growing incidence of chronic ailments, such as diabetes and obesity. Many people across the region are going to fitness centers to manage their weight effectively and improve their wellbeing.
Europe was one of the key health and fitness club markets in 2022 due to the growing setup of new health and fitness centers that offer a wide range of training programs and online services.
Competitive Landscape:
Key Market Players to Focus On Offering Online Services to Maintain Dominance
Some of the key companies operating in the global health and fitness club market are increasing their focus on providing online services to reach more customers in remote areas. Since sometimes, people cannot travel to far-off places to visit health and fitness centers, companies are offering these online services at nominal costs to cater to their fitness needs.
Key Industry Developments:
December 2020 – Life Time, a U.S.-based health club chain, announced plans to provide Apple Fitness+ (a subscription service offering access to workout videos on Apple TV, iPad, or iPhone) to its members. Life Time was the first health chain in the U.S. to provide this service. This move would help the company reach more customers by offering its health and fitness services digitally.
Nail Care Market Insights: Share, Size, and Growth Projections by Leading Companies
The global nail care products market size was valued at USD 22.34 billion in 2022. The market is projected to grow from USD 23.41 billion in 2023 to USD 32.84 billion by 2030, exhibiting a CAGR of 4.95% during the forecast period. Rising efforts by leading manufacturers to expand their digital presence, build brand equity, and improve consumer engagement will propel market growth in the forecast timeframe. Furth... moreNail Care Market Insights: Share, Size, and Growth Projections by Leading Companies
The global nail care products market size was valued at USD 22.34 billion in 2022. The market is projected to grow from USD 23.41 billion in 2023 to USD 32.84 billion by 2030, exhibiting a CAGR of 4.95% during the forecast period. Rising efforts by leading manufacturers to expand their digital presence, build brand equity, and improve consumer engagement will propel market growth in the forecast timeframe. Furthermore, nail care brands are focussing on promotional activities to build product demand and brand loyalty thus facilitating market augmentation. This information is provided by Fortune Business Insights, in its report titled, “Nail Care Products Market, 2024-2030.”
Implementation of Stringent Lockdowns and Social Distancing Norms Hindered Market Growth Amid the Pandemic
The rising incidences of COVID-19 in several economies resulted in the implementation of nationwide lockdowns to control the outbreak. This, in turn, affected manufacturing facilities negatively. They were completely or partially closed due to the unavailability of labor and raw materials. Furthermore, import and export activities were also disturbed which hampered market proliferation amid the pandemic. The demand for nail care products fell significantly as people were at home mostly and physical stores were closed.
Fortune Business Insights™ lists out all the nail care market companies that are presently striving to reduce the impact of the COVID-19 pandemic on the market:
Miniluxe, Inc. (U.S.)
L'oréal S.A. (France)
The Estée Lauder Companies Inc. (U.S.)
Shiseido Company, Limited (Japan)
NOTE Cosmetique (Turkey)
ChinaGlaze.com Inc. (China)
CND (U.S.)
ORLY International, Inc. (U.S.)
Cassina S.p.A (Italy)
BWX Ltd (U.S.)
Report Coverage:
The report provides an exhaustive overview of the global market inclusive of the latest trends, market drivers, restraining factors, and recent developments. The market is studied at both micro and macro levels by dividing it into segments and regions. Market share held growth rate, and valuation estimates of each region and segment are also given in the document. Furthermore, the impact of COVID-19 is also studied to enable industry stakeholders to make informed decisions.
Drivers and Restraints:
Rising Expenditure on Beauty and Wellness Products to Aid Market Augmentation
Growing expenditure on beauty and wellness products, increasing popularity of wellness tourism, and changing perceptions regarding personal care are the factors aiding nail care products market growth. Surging product demand from millennials and the growth of the hospitality sector will further boost market proliferation. Moreover, the emergence of salons and spas offering manicures, pedicures, nail art, gel polish, acrylics, and other nail care services will also facilitate market augmentation.
On the other hand, concerns regarding the harmful effects of chemicals such as dibutyl phthalate, formaldehyde, and toluene used in manufacturing nail care products will hamper market growth in the forecast timeframe.
Regional Insights:
Asia Pacific to Dominate Backed by Rising Number of Working Women
Asia Pacific held the majority of the nail care products market share in 2022 owing to surging demand for beauty products due to rising consciousness regarding appearance especially among working women. Rising income levels of the populace and the increased influence of Western culture are some other factors aiding market expansion in this region.
The European market is anticipated to grow significantly in the forthcoming years due to increasing efforts by companies to improve customer reach and strengthen their social and digital presence. Moreover, surging demand for organic nail care products owing to rising concerns regarding the harmful effects of traditional cosmetics are contributing to regional market growth.
Competitive Landscape:
Product Launches by Leading Companies to Aid Market Augmentation
Leading players often participate in strategic undertakings such as collaborations, mergers and acquisitions, partnerships, and product launches to enlarge revenue share. For instance, in September 2021, Creative Nail Design, Inc. launched a holiday collection that includes shades such as silk slip dresses, glitter sneakers, signature lipstick, white button-downs, statement earrings, and high-waisted jeans. The availability of a wide variety of shades will help boost product demand and revenue generation for the company.
Key Industry Development:
August 2022: Chanel launched a new range of nude nail polishes. The range includes 12 new nail polish colors split into two undertones rosy and golden. Each nail polish is priced at USD 31.03.
Cosmetics Market Growth Prospects: Demand Trends, Player Strategies, and Future Outlook
The global cosmetics market size was valued at USD 313.22 billion in 2023 and is projected to grow to USD 417.24 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period. Asia Pacific dominated the global market with a share of 37.55% in 2022.
List of Key Players Profiled in the Cosmetics Industry Report:
T... moreCosmetics Market Growth Prospects: Demand Trends, Player Strategies, and Future Outlook
The global cosmetics market size was valued at USD 313.22 billion in 2023 and is projected to grow to USD 417.24 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period. Asia Pacific dominated the global market with a share of 37.55% in 2022.
List of Key Players Profiled in the Cosmetics Industry Report:
The Estée Lauder Companies Inc. (New York, U.S.)
Beiersdorf AG (Hamburg, Germany)
Shiseido Co., Ltd. (Tokyo, Japan)
Coty Inc. (New York, U.S.)
Natura & Co. (São Paulo, Brazil)
Kao Corporation (Tokyo, Japan)
Johnson & Johnson Services, Inc. (New Jersey, U.S.)
L’Oréal S.A. (Paris, France)
Unilever (London, U.K.)
Procter & Gamble Co. (Ohio, US)
Market Segmentation:
By category, the market is segmented into hair care, skincare, makeup, and others. By gender, it is bifurcated into men and women. By distribution channel, it is divided into specialty stores, hypermarkets/supermarkets, online channels, and others. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, and the rest of the world.
COVID-19 Impact
The cosmetic industry was negatively impacted by the COVID-19 pandemic. The manufacturers witnessed a decline in their sales, and the consumers' purchasing patterns also witnessed a change. For instance, Estee Lauder's report published in April 2020 stated that most of the retail stores had to be closed since mid-March 2020 across its operating regions, including The Americas and Europe, and the Middle East & Africa. Moreover, the company production unit in Whitman, the U.K., started manufacturing hand sanitizers under the company’s brand Jo Malone London.
Further, a rapid shift towards online channels was seen, as the retail stores were closed. According to L'Oréal's 2020 annual results published in February 2021, the company’s sales increased by 62% for e-commerce across all divisions and all regions, accounting for about 26.6% of the total company’s sales for 2020.
Factors Affecting the Growth of the Cosmetics Market:
Several factors can affect the growth of the Cosmetics Market. Some of these factors include:
Increasing Disposable Income: Rising disposable income levels among consumers, particularly in developing countries, have contributed to the growth of the cosmetics market. As people have more money to spend on non-essential items, they are willing to invest in cosmetics and personal care products.
Changing Consumer Preferences: Consumer preferences have shifted towards a greater focus on personal grooming, beauty, and self-care. There is a growing demand for cosmetics that enhance physical appearance and cater to specific skin types or concerns. This change in preferences has fueled the growth of the cosmetics industry.
Influence of Social Media and Influencers: The advent of social media platforms and the rise of beauty influencers have had a significant impact on the cosmetics market. Consumers now have access to a wide range of beauty-related content, product reviews, and tutorials. Social media platforms provide a platform for cosmetic brands to engage with their target audience and promote their products, leading to increased sales.
Technological Advancements: Advancements in technology have revolutionized the cosmetics industry. Innovations such as improved formulations, advanced manufacturing processes, and product customization options have expanded the product offerings and improved the quality of cosmetics. Technological advancements also enable companies to market their products more effectively, reach a wider audience, and provide personalized recommendations.
Growing Men's Grooming Segment: The men's grooming segment has witnessed substantial growth in recent years. Men are increasingly conscious of their appearance and are willing to invest in grooming products. Cosmetic companies have recognized this trend and have launched specific product lines targeting the male demographic, contributing to the overall growth of the cosmetics market.
Increasing Awareness of Health and Wellness: There is a growing awareness among consumers about the importance of maintaining healthy skin and overall well-being. This has led to an increased demand for cosmetics that contain natural and organic ingredients, are free from harmful chemicals, and offer skincare benefits. The focus on wellness and sustainability has prompted cosmetic companies to develop and promote products that align with these values.
Expansion of E-commerce: The rise of e-commerce has significantly impacted the cosmetics industry. Online platforms provide consumers with convenience, a wider product selection, and the ability to compare prices and reviews. E-commerce has opened up new market opportunities for cosmetic brands, especially small and niche players, enabling them to reach global consumers and compete with established brands.
Urbanization and Globalization: Rapid urbanization and globalization have influenced the growth of the cosmetics market. As more people move to urban areas and experience exposure to global beauty trends, their demand for cosmetics increases. Cosmetics brands are expanding their presence in urban centers and leveraging global marketing strategies to cater to this growing consumer base.
These factors collectively contribute to the growth and evolution of the cosmetics market, making it a dynamic and competitive industry.
What does the Report Provide?
The market report offers a comprehensive examination of various aspects, encompassing key drivers and restraints poised to influence growth. Furthermore, it furnishes insights into regional analysis spanning diverse territories, pivotal in driving market expansion. Additionally, it delves into the competitive landscape featuring prominent entities and their strategic initiatives in product innovation, partnership announcements, and collaborative endeavors aimed at bolstering market progression.
Driving Forces
The surge in demand for personalized beauty and skincare solutions has spurred manufacturers to integrate customization and digitalization into cosmetic offerings, aiming to cater to evolving consumer preferences. For instance, L’Occitane Group unveiled its personalized range, Duolab, in February 2020, leveraging AI technology to assess skin conditions and deliver tailored face care solutions through freshly blended creams. Thus, heightened grooming awareness coupled with technological strides is anticipated to underpin the cosmetics industry's growth trajectory in the foreseeable future.
Regional Perspectives
Asia Pacific is poised to command market dominance, buoyed by escalating urbanization, improved standards of living, a burgeoning working female demographic, and an expanding middle-class populace. Conversely, North America is slated for positive growth, fueled by rising disposable incomes, robust purchasing power among consumers, and the proliferation of beauty product retail outlets. Notably, Sephora, a leading cosmetics retail chain, unveiled plans for expansive growth in February 2020, including the launch of approximately 100 new stores across North America by 2020, further propelling market expansion.
Competitive Dynamics
Market consolidation is evident among major players, as they strive to fortify their market presence through a gamut of strategies encompassing new product launches, collaborative ventures, and strategic acquisitions. These concerted efforts are anticipated to bolster market resilience and enhance competitive standing.
Industry Highlights:
February 2023: Shiseido Company Limited announced the launch of two new moisturizers from SIDEKICK, its skincare brand that focuses on common skin concerns that young men face.
December 2022: Beiersdorf AG acquired a majority stake in S-Biomedic NV, a Belgium-based life-science company. With this acquisition strategy, the company will be able to strengthen its expertise in the field of acne treatment.
Gaming Market: Emerging Trends, Player Profiles, and Regional Dynamics for 2030
The global gaming market reached a valuation of USD 281.77 billion in 2023 and is projected to grow to USD 665.77 billion by 2030, with a CAGR of 13.1% during the forecast period, according to Fortune Business Insights™ report titled “Gaming Market, 2024-2030”.
Major players in the ga... moreGaming Market: Emerging Trends, Player Profiles, and Regional Dynamics for 2030
The global gaming market reached a valuation of USD 281.77 billion in 2023 and is projected to grow to USD 665.77 billion by 2030, with a CAGR of 13.1% during the forecast period, according to Fortune Business Insights™ report titled “Gaming Market, 2024-2030”.
Major players in the gaming market include Microsoft Corporation, Nintendo Co., Ltd, Rovio Entertainment Corporation, Nvidia Corporation, Valve Corporation, PlayJam Ltd, Electronic Arts Inc., Sony Group Corporation, Bandai Namco Holdings Inc., Tencent Holdings Ltd., and Activision Blizzard, Inc.
Segmentation:
The market is segmented by game type into sports, action, shooter, role-playing, and others. The shooter segment is expected to dominate the market due to the incorporation of 3D realistic graphics. In terms of device type, the mobile phone segment is projected to witness significant growth driven by increasing smartphone penetration. The male segment is anticipated to lead in end-users, supported by a wide array of games catering to male preferences.
Regional Insights:
Geographically, Asia Pacific is poised for substantial growth, fueled by a rising urban population and increased awareness of video game launches. Meanwhile, Europe is expected to experience lucrative expansion, supported by government investments in the gaming sector.
Despite the industry's growth driven by the youth's inclination towards gaming and indoor leisure activities, concerns over excessive gaming leading to addiction or social anxiety could pose challenges to the market.
Key Industry Development:
In terms of industry developments, Electronic Arts Inc. made headlines in April 2021 by acquiring Glu Mobile Inc., aiming to expand its presence in the mobile gaming sector. Many industry players are also focusing on strategic partnerships and product innovations to strengthen their market positions and geographical presence.
Wall Art Market: Emerging Technologies and Competitive Landscape Analysis
The global wall art market size was valued at USD 59.09 billion in 2022. The market is estimated to increase from USD 61.04 billion in 2023 to USD 97.79 billion by 2030 at a CAGR of 6.96% during the forecast period of 2023-2030.
Fortune Business Insights™ displays this information in a report titled, "Wall Art Market, 2023-2030."
Key Co... moreWall Art Market: Emerging Technologies and Competitive Landscape Analysis
The global wall art market size was valued at USD 59.09 billion in 2022. The market is estimated to increase from USD 61.04 billion in 2023 to USD 97.79 billion by 2030 at a CAGR of 6.96% during the forecast period of 2023-2030.
Fortune Business Insights™ displays this information in a report titled, "Wall Art Market, 2023-2030."
Saatchi Art (U.S.)
Artfinder (U.K.)
Minted LLC. (U.S.)
Artspace LLC (U.S.)
Artsy (U.S.)
com (U.S.)
Zatista LLC (U.S.)
The Tellenge Store (India)
Artisera (India)
Seven Wall Art Corporation (U.S.)
Segmentation:
Rising Adoption of Fine Artworks Due to Their High Price May Boost Market Growth
Based on type, the market is segregated into modern, abstract, fine, and others. The fine segment holds a major market share as these art pieces are highly priced and offer non-academic advantages to clients.
Cost-Effectiveness of Canvas Artworks to Boost Their Sales
In terms of material, the market is segmented into paper, canvas, and others. The canvas segment holds a dominant wall art market share as canvas artworks are widely available in different sizes & styles and are more cost-effective as compared to other materials.
Growing Availability of Artistic Panels to Boost Customer Visits at Dealer Shops
By sales channel, the market is bifurcated into auction houses and dealers. The dealers segment has captured a major market share as artistic panels are being made available across many art dealer stores, thereby increasing customers’ accessibility to many affordable drawings, paintings, and sculptures.
Geographically, the market is broken down into North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
Report Coverage
The market research report conducts in-depth market analysis and underlines various crucial areas, such as prominent product types, key companies, materials, and leading application areas of the product. It also covers the latest industry trends, and competitive landscape, and focuses on important market developments. In addition to this, the report encompasses several factors contributing to the market's growth.
Regional Insights
North America Market to Grow Considerably Due to Rising Number of Artists
North America is expected to dominate the global market during the forecast period. The regional market stood at USD 26.03 billion in 2022. There is a heavy demand for artisan-made home décor products among customers across the region. Some of these products include drawings, paintings, sculptures, and more. Art events, such as the Toronto Outdoor Art Fair (TOAF) held in July 2021, is predicted to bolster the regional market outlook.
Europe is another region that will see rapid growth in the global market due to the rising percentage of art museum visitors in the U.K. and France.
Competitive Landscape:
Business Expansion and Promotion Strategies to Help Key Players Boost Their Market Positions
Artfinder, Saatchi Art, Bed, Bath and Beyond, and many other companies are the key players in this market. These organizations are trying to expand their business operations by selling their products in international markets. They are also formulating various promotion strategies to help them expand their product revenues.
Notable Industry Development:
March 2023 – Trends International, LLC. a leading publisher and maker of licensed posters, calendars, stickers, and stationery products, announced the acquisition of Allposters.com and Art.com to increase its capacity of manufacturing wall décor items in the U.S.
