Increase in health awareness and rise in need for active, healthy lifestyle across Europe are the key drivers of the Pilates & yoga studios market. New fitness trends such as virtual workout, fitness apps & wearables, and connected home solutions are replacing traditional fitness models. The inclination of consumers toward fitness practices exercise is increasing, which is majorly driven by technology and demographic changes. Owing to rise in disposable income and increase in urge to stay healthy. Thus, increase in number of fitness enthusiasts and rise in number of health clubs & fitness centers act as the key driving forces of the Europe Pilates & yoga market
According to a new report published by Allied Market Research, titled, Europe Pilates & Yoga Studios Market by Activity Type: Opportunity Analysis and Industry Forecast, 2021-2030, The Pilates & yoga studios market was valued at $15,384.9 million in 2020, and is projected to reach $71,156.6 million by 2030, growing at a CAGR of 13.0% from 2021 to 2030.
Germany held nearly twenty percent share of the Europe Pilates & yoga studios market in 2020. Pilates & yoga studios are rooms, buildings or other places where Pilates & yoga classes can be taken. It may be a single room or a structure with multiple classrooms with props and heated humidified rooms. Pilates is a form of exercise that aims to strengthen muscles while improving body flexibility and postural alignment, while yoga is an entire compendium of exercises designed to stimulate and rejuvenate the body and mind.
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The top factors influencing the market growth include increase in health consciousness, rise in obese population across world, initiatives by government to promote healthy lifestyle, health benefits associated with yoga & Pilates and celebrity endorsement & promotion among others. The major factor that limits the growth of the Pilates & yoga studios market is the presence of numerous substitutes.
Increased awareness regarding health & fitness is expected to significantly drive the growth of the market. Although fitness consciousness is higher in urban areas, the market is expected to witness steady growth in semi-urban areas of the developing economies.
A significant rise in the obese population supplements the growth of the Pilates & yoga studios market. Inactive lifestyle and dysfunctional diets cause obesity, which results in increased prevalence of cardiovascular and lifestyle diseases. Thus, rise in obese population is expected to fuel the growth of the Pilates & yoga studios market.
The governments of developed countries are constantly in the process of conceptualizing and establishing effective and timely healthcare programs. Developing countries indicate a significantly growing trend of healthcare offerings across all sectors. The allowances related to employee fitness is expected to experience an increase in future. This is anticipated to boost the business of Pilates & yoga studios, as a significant portion of the employee income would be invested in studio membership. This in turn is expected to drive the growth of the Pilates & yoga studios industry.
Yoga and Pilates provide both physical and mental benefits to participants. These help improve flexibility, balance & posture, and range of motion. Furthermore, it reduces stress through controlled breathing and mental focus. This results in improved sleep cycle and helps avoid mood swings, depression, and other disorders.
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Celebs such as Robert Downy Jr., Keanu Reeves, Julia Roberts, Demi Moore, Charlize Theron, Kim Kardashian, Madonna, and others have spoken about Yoga and how it has been transforming their health and lifestyle. This is influencing both young and middle-aged people to practice yoga and Pilates owing to the associated benefits.
However, presence of other alternatives such as multi-specialty gym, fitness centers, and therapy classes significantly hampers the market growth. Although yoga has become popular among people across the world, the presence of fitness centers, gyms, and other fitness facilities (dance, martial arts) are competing aggressively with the yoga studios.
The Europe Pilates & Yoga Studios Market is segmented into activity type. On the basis of activity type, it is classified into yoga classes, Pilate’s classes, Pilates & yoga accreditation training, reformer Pilates and merchandise sale.
Key Findings Of The Study
- In 2020, Germany was a significant contributor to the Europe Pilates & yoga studios market, growing at a CAGR of 12.8% from 2021 to 2030.
- In 2020, the yoga classes segment accounted for nearly half of the market in The Europe Pilates & yoga studios market, and is estimated to grow at a CAGR of 13.8% from 2021 to 2030.
- The merchandise sales segment is expected to grow at CAGR of 11.4% in the forecast period.
- Pilate’s classes segment is estimated to grow at CAGR of 13.6%.
- Reformer Pilates segment is estimated to grow at CAGR of 13.1%
- In 2020, UK accounted for a prominent market share, and is anticipated to grow at the CAGRs of 13.7%.
The key players operating in the Europe Pilates & Yoga Studios Market are include Endurance Pilates & Yoga, Core Pilates & Yoga Studio, Breathe Pilates & Yoga, Pure International, Alona Pilates, Authentic Pilates Ltd, The flow yoga and Pilates, Azulfit, The Movement Studio, Power Pilates Studio, Absolute Pilates SA and Pilates Unlimited.
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