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Key takeaways

Key takeaways

What is the scope of this industry report?

The health and fitness center industry encompasses businesses that provide facilities, equipment and services designed to support physical exercise, wellness and overall health improvement. This includes gyms, fitness centers, health clubs, boutique studios and specialized training facilities, offering activities such as strength training, cardio workouts, group exercise, yoga, Pilates and functional fitness. Operators also provide personal training, nutrition counseling, spa and recovery services, as well as digital fitness programs. The industry spans various business models from low-cost, high-volume gyms to premium, full-service clubs and boutique studios. Accordingly, we have segmented the US market by pricing tier into: (i) budget, (ii) mid-market and (iii) premium.

What is the scope of this industry report?

The health and fitness center industry encompasses businesses that provide facilities, equipment and services designed to support physical exercise, wellness and overall health improvement. This includes gyms, fitness centers, health clubs, boutique studios and specialized training facilities, offering activities such as strength training, cardio workouts, group exercise, yoga, Pilates and functional fitness. Operators also provide personal training, nutrition counseling, spa and recovery services, as well as digital fitness programs. The industry spans various business models from low-cost, high-volume gyms to premium, full-service clubs and boutique studios. Accordingly, we have segmented the US market by pricing tier into: (i) budget, (ii) mid-market and (iii) premium.

What is the scope of this industry report?

The health and fitness center industry encompasses businesses that provide facilities, equipment and services designed to support physical exercise, wellness and overall health improvement. This includes gyms, fitness centers, health clubs, boutique studios and specialized training facilities, offering activities such as strength training, cardio workouts, group exercise, yoga, Pilates and functional fitness. Operators also provide personal training, nutrition counseling, spa and recovery services, as well as digital fitness programs. The industry spans various business models from low-cost, high-volume gyms to premium, full-service clubs and boutique studios. Accordingly, we have segmented the US market by pricing tier into: (i) budget, (ii) mid-market and (iii) premium.

What does the health & fitness centers market landscape look like in the US?

The US health and fitness center landscape is fragmented and faces competition from local government-owned recreational centers and nonprofit community-oriented centers. Herein, business models vary across the industry, including corporate-owned networks (e.g. 24 Hour Fitness), franchise-based players (e.g. Crunch Fitness) and hybrid operators (e.g. Planet Fitness). The premium segment is characterized by a higher share of small, independent operators, while the budget segment is dominated by large national chains with extensive membership bases. For example, the top-10 budget players collectively account for ~40% of total US gym memberships. Large health and fitness center chains in the US continue to gain share through consolidation (e.g. Genesis Health Clubs’ 9 acquisitions in 2025). The long tail of operators competes by focusing on specific regions, offering specialized workout formats, or adopting reward-based engagement models to attract and retain members. For example, 10GYM focuses on the Oklahoma and Arkansas markets, while Rumble Boxing offers a Fight Club Loyalty Program, where for every ~100 visits, customers will be rewarded with ~$100 toward their next purchase.

What is the level of investor activity in the US's health & fitness centers industry?

Investor-led interest has been limited, with ~17% of identified assets backed by financial sponsors (as of October 2025). Herein, sponsors are mainly attracted by (i) favorable long-term demand drivers such as demographic shifts, a rise in chronic health conditions and growth in wellness awareness, (ii) policy and wellness initiatives that expand access, as well as (iii) the emergence of AI-enabled personalization and digitally connected devices that improve customers’ engagement and retention. On the other hand, deterring factors for investors include (i) market oversaturation and intense price competition that limit differentiation and profitability, (ii) persistent shortages of certified fitness professionals that constrain service quality and scalability, as well as (iii) the growth of at-home workouts and free digital content, reducing gym visits and membership renewals.

What are the key ESG considerations in the US's health & fitness centers industry?

ESG topics primarily revolve around environmental and social matters. Overall, the industry plays a vital role in public health and supports both physical and mental wellness across communities. However, key concerns persist around high energy consumption, waste generation (i.e. single-use plastics and end-of-life equipment disposal) and resource-intensive operations, especially in premium facilities with pools, saunas and advanced HVAC systems. Herein, operators respond through energy-efficient equipment, smart HVAC systems, LED lighting, circularity initiatives and renewable energy integration. Social priorities focus on workforce safety, member well-being and equitable access. Employees face physically demanding work conditions, while members encounter risks related to heavy equipment and hygiene in shared areas such as pools, saunas and locker rooms. Operators also emphasize fair and inclusive access to fitness facilities. To address this, incumbents conduct regular safety training and checks for employees and members, maintain strict hygiene standards, as well as provide ramps, accessible restrooms, pool lifts and Braille signage for equitable access.

Company benchmarking

Company benchmarking

Market growth

Market growth

Technavio (February 2025) estimates that the global fitness and recreational sports centers market generated ~$171.0bn in revenue in 2024, a figure forecasted to grow to ~$275.1bn by 2029 (+10.0% CAGR 2024-2029)

The US fitness and gym industry’s size is projected to increase from ~$45.7bn in 2025 to ~$60.0bn by 2030 (+5.6% CAGR 2025-2030; MMCG Invest, August 2025)

The active US gym membership base was estimated to have grown from ~60m in 2023 to ~64.2m by 2024 (+7% YoY; Smart Health Clubs, February 2025)

The active US gym membership base was estimated to have grown from ~60m in 2023 to ~64.2m by 2024 (+7% YoY; Smart Health Clubs, February 2025)

Positive drivers

Positive drivers

Demographic shifts, rising rates of chronic conditions (e.g. obesity, diabetes) and a greater focus on self-care drive fitness club membership growth. To illustrate, ~100m adults plan to focus on health and fitness in 2025, while ~30% of the young and middle-aged US population (i.e. 27-44 year-olds) expects to place stronger emphasis on holistic wellness (McKinsey & Company, May 2025; Athletech News, April 2025; Health & Fitness Association, January 2025; ABC Fitness, April 2024)

Supportive regulatory infrastructure, policy environment and corporate initiatives continue to promote preventive health and active lifestyles. The proposed Personal Health Investment Today (PHIT) Act of 2025 allows the use of pre-tax funds from Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) to pay for gym memberships, fitness classes and equipment, thereby lowering consumer cost barriers. In addition, insurers and employers expand wellness programs by subsidizing gym access, which further drives broader participation across the market (Health & Fitness Association, April 2025; Business.com, January 2025; Pvolve Franchise, April 2024; Wellable, January 2024)

The growing integration of AI-powered tools, connected equipment and advanced digital systems will continue to transform physical fitness centers across the US. These technologies enhance both member experience and operational efficiency by enabling personalized training programs, data-driven scalability, as well as stronger engagement and retention (Athletech News, October 2025; Health & Fitness Association, July 2025; Club Automation, February 2025)

Negative drivers

Negative drivers

Market oversaturation and intense competition will continue to create pricing pressure and restrict differentiation among fitness center operators. With similar equipment offerings and membership models, many gyms are perceived as interchangeable, eroding brand loyalty and pricing power (WodGuru, October 2025; Perfect Gym, July 2025; Wellness Creatives, September 2024)

Structural shortages of experienced and certified fitness professionals are expected to persist, limiting the industry’s capacity to meet rising demand. Herein, limited qualified trainers reduce service quality and retention, while many skilled professionals move to independent virtual coaching and content creation for higher income and flexibility, worsening staffing challenges for gyms (Coach 360 News, January 2025; Exercise.com, July 2024)

Rising consumer preference for at-home workout options and free streaming services, driven by convenience and accessibility. This development may reduce foot traffic and membership renewals at physical fitness centers of identified players (WodGuru, October 2025)

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With the full report, you’ll gain access to:

Detailed assessments of the market outlook

Insights from c-suite industry executives

A clear overview of all active investors in the industry

An in-depth look into 113 private companies, incl. financials, ownership details and more.

A view on all 106 deals in the industry

ESG assessments with highlighted ESG outperformers

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