The Vietnam Fitness Services Market size was estimated to hit around USD 3.78 billion by 2030 and is poised to grow at a compound annual growth rate (CAGR) of 19.08% from 2022 to 2030.
Vietnam Fitness Services Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Since people have become more conscious of the value of fitness and health, the market for fitness services in Vietnam has grown significantly. The market offers a wide range of services, including sales of fitness equipment, personal training, group exercise programmes, and gym memberships. Some of the main factors driving the market growth are increased disposable incomes, greater health consciousness among the populace, and the expansion of the middle class.
The fitness services market in Vietnam is dominated by gym memberships, which hold around 55% of the overall market share. Due to the rising number of gyms and fitness facilities around the nation as well as the accessibility of reasonably priced memberships, this market is expanding.
As more people are willing to spend money on specialised training programmes to attain their fitness goals, personal training and group fitness classes are expanding market segments. Sales of fitness equipment are also increasing as consumers want to work out at home in the wake of the COVID-19 outbreak.
There are several noteworthy trends in the Vietnam fitness service market. Firstly, there is a growing interest in fitness technology, with an increasing number of individuals using fitness apps, wearable fitness trackers, and other digital tools to monitor their progress and receive personalized training plans. Secondly, there is a rise in popularity of boutique fitness studios that offer specialized classes like yoga, Pilates, and HIIT workouts, despite traditional gyms and fitness centers still dominating the market. Thirdly, there is a heightened focus on overall health and wellness, resulting in a growing demand for fitness services that include nutrition coaching, mindfulness training, and stress management. Fourthly, the COVID-19 pandemic has accelerated the adoption of virtual and at-home fitness solutions, including online fitness classes and sales of fitness equipment for home use. Finally, businesses are investing in corporate wellness programs to promote health and wellness among their employees, which includes providing fitness services like gym memberships, onsite fitness classes, and wellness coaching.
California Fitness and Yoga, Elite Fitness, Fitness First, Yoga Plus, and others are some of the major participants in the Vietnamese fitness services sector. Several players are developing new fitness programmes and technology, as well as focusing on new consumer segments, to broaden their product offers.
Overall, it is anticipated that Vietnam's market for fitness services would keep expanding due to rising middle class levels and public awareness of health issues.
Market Breakup: By Type of Market
Market Breakup: By Source of Revenue
Market Breakup: By Subscription Fee
Market Breakup: By Subscription Period
The Vietnam fitness service market can be analysed regionally, as there are some regional differences in the demand for fitness services.
Ho Chi Minh City: With a huge number of gyms and fitness facilities, Ho Chi Minh City—the largest city in Vietnam—has a sizable market for fitness services. The city is an ideal location for specialised fitness services like boutique studios and personal training because of its younger population, better finances, and more health-conscious way of life.
Hanoi: Hanoi is the second-largest city in Vietnam, and the need for fitness services there is rising. There are many students in the city, which makes it a desirable market for low-cost gym memberships and group exercise programmes. Also, there is a growing need for fitness technology, as more people in Hanoi are utilising wearable fitness trackers and fitness applications which affect demand and growth.
Danang: Danang is a well-liked vacation spot with a developing market for fitness services. Due to its beachside setting, the city is a great place to engage in outdoor physical activities like cycling and running. Tourists have a need for upscale fitness facilities, such as wellness resorts and top-notch gyms.
Other areas: Although Ho Chi Minh City, Hanoi, and Danang are the biggest markets in Vietnam for fitness services, there is a rising need for these services in other areas as well. People in more remote locations can now more easily obtain fitness services because to the growing popularity of fitness technology and virtual fitness services.
Overall, the Vietnam fitness service market is growing across all regions, driven by an increasing awareness of the importance of fitness and a more health-conscious lifestyle.
Market Breakup By Region
The Vietnam Fitness Services Market competitive landscape provides details by competitor. Details included are company outline, company financials, revenue generated, market potential, investment in research and development, new market initiatives, worldwide occurrence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The overhead data points providing are only related to the businesses’ focus related to Vietnam Fitness Services marketplace.
Major players operating in the Vietnam Fitness Services Market are:
Vietnam Fitness Services Market Research Report, 2020-2031
Table of Contents
Our reports with in-depth insights will equip you to succeed in your business plans.
Get instant access to the information you need to make the right decision.
Explore where opportunities lie for you and mitigate the risks.
We are one of the most trusted brands setting benchmarks of excellence.