Dublin, Feb. 14, 2019 (GLOBE NEWSWIRE) -- The "Kuwait Fitness Service Market Outlook to 2022 - by Revenue Stream (Gym and Personal Training), by Region, by Gender, by Membership Subscription, by Organized- Men's Gym, Women's Gym, Mixed Gym, CrossFit and Unorganized" report has been added to ResearchAndMarkets.com's offering.
The Kuwait fitness service market revenue has been anticipated to grow registering a robust CAGR of close to 9% during 2017 to 2022. This revenue generation will be supported by the increasing number of membership which is expected to grow with a double digit CAGR of close to 10% during 2017 to 2022.
Competitive landscape of major players including Platinum Health Club, Oxygen Gym, Peak Fitness, Pilates and More, Fitness First, Flex Fitness, Circuit Plus, Flare Fitness, Desert Fitness, Orangetheory Fitness, Ras Al Salmiya, Spark Athletic Center, Al-Corniche and Inspire Fitness have been extensively covered including company overview, major business strategies, USP, financials, revenue streams, number of centers and various other parameters. The report also covers customer profiling and investment model along with analyst recommendation and macroeconomic variables highlighting the major opportunities and cautions prevailing in Kuwait. The report is useful for existing fitness service providers, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. Kuwait Fitness Service Market Size and Overview
Market Overview:
The Kuwait Fitness Service market has grown owing to the rising number of expatriate population, increasing obese population, rise in health consciousness among the adults, growth of national income, changing lifestyle of people, innovative marketing strategies being implemented by the fitness centers in the country, higher demand for fitness services by women and the growing number of penetration of international fitness brands across the country. The market is currently placed in growth stage with strong possibility for further growth at a much rapid pace. Profitability associated with fitness services is highly correlated with multiple factors such as improving the effectiveness of fitness services provided, cost reduction related to equipment procurement, customer retention and relationships, having diversified services portfolio with trained professionals, flexible schedule of classes and use of latest gym equipments amongst various others.
A major contributing factor to the boost in revenue had been the addition of integrated fitness services such as, Yoga, Pilates and Swimming; all under one roof. Remaining factors which have supplemented growth include increase in the demand for personal training and increasing national disposable income of Kuwait amongst various others.
In terms of membership, the Kuwait fitness service market observed a robust double digit CAGR over 2012-2017.
The fitness services market in Kuwait has been witnessing an upward trend and has registered a positive CAGR during 2012-2017 in terms of number of fitness clubs. The number of fitness centers in Kuwait has increased because of the expansion in the number of organized gyms, increase in the number of female specific fitness centers and increase in ease of doing business with the implementation of the new partnership law. Kuwait Fitness Service Market Segmentation
By Revenue Stream: Membership fees have been the largest revenue generating segment in Kuwait in 2017. The revenue generated by Personal Training has particularly been benefitted by the continuous growth in the demand for qualified fitness professionals and certification courses in the country. New fitness centers mushrooming in majority of developing and developed cities, government's indirect contribution to the market by construction of more number of parks, cycling lanes and running lanes to support and promote active lifestyle has contributed to change the mindset of the population to opt for fitness services. By Market Structure: Unorganized sector has contributed majority share to the total revenue generated through fitness services in 2017. The remaining market share has been contributed by organized sector which includes various entities such as men's gym, women's gym, mixed gym and crossfit indulged in providing all kinds of fitness services. Unorganized centers have been better able to make use of this opportunity and enter the fitness industry because it is cheaper and for the fact that it is easier to set up an unorganized fitness center as compared to the organized one. Fitness First, Al Corniche, Circuit Plus have been some of the major organized players in 2017. By Region: Hawalli has accounted for the maximum number of fitness centers because it is the commercial capital of the country. The major reason responsible for the concentration of fitness centers in Al Asimah has been the expanding business clusters in the region. With Al Asimah being the capital governorate of the country, majority of fitness centers have emerged here. Majority of the urban and wealthy population reside in these regions. This set of audience usually opts for a healthy lifestyle and has the resources to spend on fitness services. These regions are followed by Al Ahmadi, Al Farwaniyah, Mubarak Al Kabeer and Jahra in terms of having higher number of fitness centers in 2017. By Gender: The market for fitness services had been majorly driven by the country's male population due to the societal norms associated with women in Kuwait. Men have been found to be more prone to changing lifestyle trends and fashion trends associated with fitness in Kuwait. Women have started becoming more conscious and it has been witnessed that there has been a surge in the number of women members at various fitness service centers in the country. The demand for female specific services and fitness centers has already started picking up and this trend is assumed to continue in the future. Competitive Landscape The industry is fragmented with the presence of several organized gym chains and number of unorganized fitness clubs in the country. These provide gym services along with supplementary facilities such as spa, sauna, swimming pool, showers, lockers and others.
Key Topics Covered:
1. Executive Summary
- Market Size and Overview
- Market Segmentation
- Competitive Analysis
- Future Projections
2. Research Methodology
- Market Definitions
- Abbreviations
- Market Sizing and Modeling
- General Approach-Market Sizing
- Market Sizing - Kuwait Fitness Service Market
- Variables (Dependent and Independent)
- Multifactor Based Sensitivity Model
- Regression Matrix
- Limitations
- Final Conclusion
3. Kuwait Fitness Service Market Introduction and Evolution
- Kuwait Fitness Service Market Overview and Genesis
- Kuwait Fitness Service Market Supply Side Evolution
- Kuwait Fitness Service Market Demand Side Evolution
4. Kuwait Fitness Service Market Ecosystem 5. Kuwait Fitness Service Market Size (by Revenue, by Membership and by Number of Fitness Centers), 2012- 2017
- Total Addressable Market and Penetration Rate
6. Kuwait Fitness Service Market Growth Drivers and Trends
- Trends and Recent Developments
- HIIT (High Intensity Interval Training)
- Workplace Fitness Promotion
- Group Training
- Wearable Technology
- Body Weight and Strength Training Exercises
- Growth Drivers
- Increase in Lifestyle Diseases
- Boost in Personal Trainer requirement
- Growth in Organized Gym Chains
- Focus on Opening Up of Female Specific Fitness Centers
- Investing In Building Customer Awareness And Trust
- Change in Consumer Behavior Spurred by Change in Demographics
7. Challenges in Kuwait Fitness Service Market 8. Kuwait Fitness Service Market Investment Model
- Introduction
- Assumptions
- Fixed Investment
- Sources Of Finance
- Variable Cost
- Profitability
9. Kuwait Fitness Service Market Segmentation, 2017
- By Major Revenue Streams (Gym Membership and Personal Training), 2017
- Market Segmentation of Gym Membership Revenue and PT Revenue By Market Structure (Organized and Unorganized), 2017
- By Region (Al Asimah, Al Farwaniyah, Al Ahmadi, Hawalli, Jahra and Mubarak Al-Kabeer), 2017
- Regional Market Segmentation by Gym Type (Men's Gym, Women's Gym, Mixed Gym and CrossFit), 2017
- By Membership Subscription (1 month, 3 months, 6 months and 1 year), 2017
- By Membership Subscription On the Basis of Market Structure (Organized and Unorganized), 2017
- By Gender Composition (Male and Female), 2017
- By Organized and Unorganized, 2017
- On the Basis of Number of Centers, Number of Members and Revenue Generated, 2017
- Kuwait Organized Gym Market Segmentation by Type of Entity (Men's Gym, Women's Gym, Mixed Gym and CrossFit), 2017
10. Customer Profiling-Kuwait Fitness Service Market
- Customer Decision Making Parameters, 2017
- Pain Points Of Customers
11. Snapshot on Personal Training Market In Kuwait 12. Snapshot on Yoga Market in Kuwait, 2017 13. SWOT Analysis Kuwait Fitness Service Market 14. Competitive Landscape in Kuwait Fitness Service Market
- Competition Scenario (Market Nature, Bargaining Power, Entry Barriers, Market Positioning and Competition Parameters), 2017
- Market Share of Major Players (Al-Corniche, Fitness First, Palms Beach Club, Flex Fitness, Circuit Plus, Sweat Studios & Others), 2017
- Strengths and Weaknesses of Major Players (Al-Corniche, Fitness First, Palms Beach Club, Flex Fitness, Circuit Plus, Spark Athletic Center and Flare Fitness) in Kuwait Fitness Service market
- Comparison Matrix in Kuwait Fitness Service Market, 2017
- Company Profile Of Major Players In Kuwait Fitness Service Market
- Men's Gym
- Platinum Health Clubs
- Oxygen Gym
- Women's Gym
- Pilates And More
- Peak Fitness
- Mixed Gyms
- Fitness First
- Circuit + Fitness
- Flex Fitness
- Inspire Gym
- Ras Al Salmiya
- Spark Athletic Center
- Orangetheory Fitness
- CrossFit
- Desert Fitness
- Flare Fitness
15. Kuwait Fitness Service Market Future Outlook and Projections, 2018E- 2022E
- Total Expected Addressable Market and Penetration Rate
- Kuwait Fitness Service Future Market Segmentation By Market Structure (Organized and Unorganized) on the basis of Number of Fitness Centers, 2022E
- Kuwait Fitness Service Future Market Segmentation by Gender (Male and Female) on the basis of Revenue, 2022E
16. Analyst Recommendations
- Space & Capacity
- Pricing Strategies & Discounts
- Location Play
- Fitness Equipment Procurement Strategies
- More Diversified Services Portfolio
- Technological Upgradation
- Marketing Strategies
17. Economy Analysis, 2012 - 2022E
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