There is an increase in the participation rates among men over the five-year period, thus boosting industry growth
The shift toward studio-based fitness practice that offers yoga and Pilates studio offers the specialist classes that people are demanding at a quality that justifies their price, with lower overheads than larger gyms. The majority of yoga and Pilates participants are women. There is an increase in the participation rates among men over the five-year period, thus boosting industry growth. The insurance companies in Germany and other parts of Europe provide a reimbursement for the part of the course fee in their health insurance plan. This factor is expected to boost the market growth.
According to a new report published by Allied Market Research titled, “Europe Pilates & yoga studios market by Activity Type: Regional Opportunity Analysis and Industry Forecast, 2021–2027,” The Europe Pilates & yoga studios market size was valued at $26,991.0 million in 2019, and is projected to reach $49,446.3 million by 2027, growing at a CAGR of 13.05% from 2021 to 2027. Germany held nearly twenty percent share of the Europe Pilates & yoga studios market analysis in 2019.
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.
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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.
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 Europe 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 Europe Pilates & yoga studios market growth. 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 Europe Pilates & yoga studios industry.
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.
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.
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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.
Key Findings Of The Study
In 2019, Germany was the highest contributor to The Europe Pilates & yoga studios market, growing at a CAGR of 12.7% from 2021 to 2027.
In 2019, 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 14.0% from 2021 to 2027.
The merchandise sales segment is expected to grow at CAGR of 10.9% in the forecast period.
In 2019, Pilates classes segment accounted for nearly one fifth of the market share, and is estimated to grow at CAGR of 13.7%.
In 2019, UK accounted for a prominent market Europe Pilates & yoga studios market share, and is anticipated to grow at the highest CAGRs of 14.0%.
Key leading players operating in Pilates and Yoga Studios industry are Body & Soul Yoga Club, Core Pilates, Cheltenham Pilates & Yoga, Fitness Unlimited, Flex Studio, Hummingbird Pilates & Yoga, LV Yoga, Fareham, M Pilates+Yoga, Pilates Plus LLC and Sandstone Yoga & Pilates.
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