Boutique Fitness, Personal Training Tipped for Massive Growth in the Gen Z Era
The health/fitness club market is project to reach $302 billion by 2034 and will be driven by Gen Z and Millennials, according to a new report
The door to the age of wellness has swung wide open, with predictions that the health and fitness club market will reach $302 billion by 2034, growing from $124.7 billion this year.
Driving those growth projections are Millennials and Gen Z, who are leading the next chapter in wellness with a renewed focus on health and a demand for personalized fitness experiences, according to a new report from Future Market Insights.
According to the report, those in the 20 – 40 age range are eager to develop healthy lifestyles and are more wellness-focused than the generations before them. One study even suggests that 40% of Millennials and Gen Zers may live to be 100, so they figure to be around for a while as key consumers.
Overall, the Future Market Insights findings spell good news for the fitness and wellness industry, especially with regard to boutique fitness and personal training, two areas tipped for sustained growth over the next decade.
Boutique Fitness Boom
The report finds a growing demand for boutique fitness centers, which are particularly resonating with younger consumers. According to Future Market Insights, this has been fueled by “influencer culture.” As younger generations spend a good chunk of their day scrolling on social media, fitness influencers have inspired interest in supplements, bodybuilding and wellness treatments.
Peloton has found its way onto TikTok, the result of an exclusive partnership that puts its fitness content on the social media platform that’s highly popular with Gen Z, The deal gives Peloton an avenue to introduce its connected fitness offerings to the upcoming generation of fitness enthusiasts.
In addition to the desire for a healthy lifestyle and being inspired by social media trends, younger people are more likely to prioritize fitness and look for ways to connect with others. Jumping on the connection trend, Adidas Training and Bumble teamed up earlier this year to make it easy for gym goers to connect with each other.
Future Market Insights says this finding offers a unique opportunity for cities, noting that they are a “hub of opportunity to realize this potential of fitness,” especially as younger people are “mostly shifting to cities for the betterment of their future.”
By offering convenient locations and flexible operating hours, the report indicates that fitness operators can make it easier to attract this subset of fitness consumers.
It’s an approach many in the industry have long touted – such as Anytime Fitness. Even boutique fitness brands have begun offering special non-staffed hours to meet demand and provide flexibility, including UBX and 9Round Kickboxing, ushering in a new business model that satisfies members while also reducing labor costs.
Personal Training Services in High Demand
Smaller class sizes and more individualized attention, commonly found in boutique fitness experiences, are also key elements driving Gen Z and Millennial interest in the boutique sector, but it’s the personal training aspect that appears to be the big hook, with a predicted CAGR of 9% from 2024 to 2034.
According to Future Market Insights, personal training demand is “skyrocketing.” Behind this trend are two leading factors: technology and celebrities.
Technological advancements have increased user expectations, with consumers looking for personalization in all facets: workout plans, nutrition and progress tracking. It’s easier than ever to find a personal trainer, especially with apps such as TruBe, providing on-demand and in-personal fitness and wellness experts at the tap of a button.
Along with the desire to understand perfect form and technique, celebrities are also contributing to the continued interest in personal trainers, sharing images on social media as they train for the lead in action films with top-tier trainers.
The rise of GLP-1 weight-loss drugs has also led some fitness brands, such as Equinox, to reimagine fitness programming with helpful ways to encourage Ozempic and Wegovy users to combat valuable muscle mass loss. This may fuel interest in hyper-personalized personal training services and offer trainers a significant market opportunity, Future Market Insights says.
Corporate Wellness on the Rise
With Gen Z expected to outnumber Baby Boomer employees in the workforce this year and the demonstrated interest in health and wellness among the former, it makes sense that many companies are retaining corporate wellness platforms such as Gympass. Plus, as Lifesum has found, younger generations tend to prioritize workplace wellness.
Although corporate wellness programs may be criticized for not adding enough value to the overall employee experience, Future Market Insights says corporate wellness initiatives are driving demand for fitness and health clubs.
While the report notes that challenges such as high membership fees can pose a barrier to entry for cost-conscious Gen Z and Millennial wellness enthusiasts, high-value, low-price (HVLP) gyms continue to resonate with younger consumers.
