Canada Fitness Market Overview, 2029

Canada Fitness Market Overview, 2029

The Canadian fitness market is of major economic value to the Canadians, grossing billions of money to the market annually. The rise to the development of low-cost fitness alternatives, community-based programs, outdoor fitness classes, and efforts to make such facilities accessible to persons with disabilities. In such a way, the sector allows over 180,000 Canadians to work, which creates an opportunity for a majority of people. On the other hand, the drivers behind the growth in the Canadian fitness market include the increased knowledge base regarding physical activity and health, an aging population, and technology. Recently, over the last several years, the market consists in accommodating a surge in so-called boutique and specialty fitness studios, as well as online offerings. The Canadian sector of exercisers had to undergo some hard times such as high operating costs, low-price fitness competitors, and even home-based competitions. The increasing popularity of wearable technology and the integration of advanced features like artificial intelligence, real-time data analytics, and personalized health recommendations are driving this trend. Canadian consumers are particularly keen on using these devices to gain detailed insights into their fitness progress and overall health, making fitness monitoring equipment a key growth area. The trend towards digital and remote fitness solutions, accelerated by the COVID-19 pandemic, has further bolstered the demand for these smart devices, highlighting their importance in the evolving fitness landscape in Canada. The coronavirus pandemic accelerated misfortunes for the industry institutional and independent gyms alike are being closed temporarily or operating at limited capacity. But many gyms then staged a comeback by introducing on-line classes and outdoor fitness training. Some of the events that keep the Canadian fitness market brimming include the annual conference and trade show of CanFitPro, hosting a lot of professionals and enthusiasts from across the country. Besides, most of the major Canadian cities conduct events, including structured fitness programs that are attended by international visitors.

According to the research report ""Canada Fitness Market Overview, 2029,"" published by Bonafide Research, the Canada Fitness market is anticipated to grow at more than 10% CAGR from 2024 to 2029. With the number of gyms, health clubs, and fitness studios really high and the market being highly competitive, more competition can be added, mostly in urban areas. Consumer preference had been one of the market leaders: there is a growing tendency toward fitness boutique and specialty studios and, on the other hand, growing demand for online fitness. The technology will play an even larger role as fitness-related apps, wearable technology, and virtual fitness classes develop. The changing demography, increased number of people growing older, and rising number of people with chronic health conditions are also some other key demographic factors that help to shape the market and create a growing demand for fitness programs and facilities targeting the older adult populations and people with specific health needs. The market also faces an influence from disposable income and consumer confidence. Innovations in the market, by coming up with new tools of working out, workout programs, and technology, is what sparks growth. Mergers and acquisitions, e-commerce, wellness tourism, and government initiatives are some of the market influencers that determine the increase in opportunities and challenges in the fitness business and professionals, with an obstacle in accessibility and affordability, of which a challenge is what the Canadian fitness market is facing. Many gyms and fitness studios cater mainly to middle and high incomes, there is an increasing awareness of the need to make fitness opportunities available in all layers of society, irrespective of their income or location.

Based on the report, the Canada Fitness market by type is segmented as Cardiovascular training equipment, Strength training equipment, Fitness monitoring equipment, Fitness accessories and others . Cardiovascular machines like treadmills, ellipticasl, stationary bikes, and rowing machines are in high demand both in professional gymnasiums and for home usage. The machines are in high demand largely because they help to develop better cardiovascular health, Cholesterol burning ability, and give the body its core strength. Particularly powerful is the trend towards high-tech and interactive cardiovascular equipment, with virtual coaching, individualized training courses, and real-time performance monitoring, which appeals to that tech-savvy, experience-driven customer segment looking for exciting workouts. An important segment in Canada's fitness markets is strength training equipment, which covers free weights like dumbbells and barbells, weight machines, and resistance bands. Benefits related to strength training, such as increase in muscle mass, metabolism, and all physical function, are becoming evident hence creating demand. Buyers are attracted by new product introduction- adjustable dumbbells, compact home gyms, and even intelligent strength equipment with work-out guide and tracking of progress. The segment which is growing is that of fitness monitoring equipment. The wearable devices such as smartwatches or fitness trackers. They allow close monitoring of different health parameters, such as activity levels, sleep quality, heart rate, among many others. The fact that the devices can sync to some mobile apps or online fitness stores increase user interaction and help individualize one's goals on fitness. Growth in interest in health-related information as well as a growing desire to have equipment which would allow self-monitoring and responsibility is driving demand for such equipment. A good number of accessories go along with exercising. These are things like mats, foam rollers, jump ropes, and exercise balls. They enhance the pace of a workout, prevent injury, and aid diversity in action. There is something for everybody in all the levels of experiences; whether novice or seasoned, applicable both on personal or professional level of fitness. Every other term in the market today refers to a range of products from sports nutrition supplements to recovery tools to wellness gadgets. The developing category is as consumers move towards a more holistic approach to fitness, wellbeing and thus stock up on products that are somewhat in line with their physical training and more generally for health and well-being.

Health Clubs and Gyms would enable one to have investment in the traditional gyms and health clubs, as well as in the up-and-coming boutique and specialty studios. This is a huge combined sector, which is gaining momentum very fast in the Canadian fitness market since most Canadians consider their good health and physical fitness important to them. Most of the studios and gyms countrywide in Canada have all types of cardiovascular machines and strength equipment and classes, offering group fitness training and personal training. Online Fitness like Online and virtual classes, online coaching services, fitness applications, and streaming services are included here. It is a rapidly growing sector of the Canadian wellness market based on the fact that services are provided online and customers can enjoy the convenience and schedule some online time to work out in their own homes. More and more Canadian businesses and sole proprietors offering fitness training are now using online platforms to deliver virtual classes and online coaching services. Home Fitness is a segment that includes home use of various fitness equipment and accessories. This is a very burgeoning aspect of the Canadian fitness marketplace, as many Canadians shore up commitments to home gym investments to either supplant or work in conjunction with traditional gym memberships. Others includes wellness programs in business and industry, fitness programs in schools, colleges, and universities, medical and rehabilitation facilities, and fitness tourism.
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Fitness market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Cardiovascular training Equipment
• Strength training Equipment
• Fitness monitoring Equipment
• Fitness Accessories
• Others

By Application
• Health Club And Gyms
• Online Fitness
• Home fitness
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Fitness industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.