The global health and fitness industry has been experiencing remarkable growth in recent years, driven by an increased awareness of the importance of healthy living and advancements in technology. Despite economic uncertainties and challenges, this sector has exhibited resilience and sustained expansion, particularly during the initial stages of the Covid-19 pandemic when gyms and studios faced pressure from lockdowns and social distancing regulations.
As individuals sought alternative ways to maintain their fitness while adhering to social distancing measures, segments of the fitness industry such as providers of home fitness equipment and virtual workout platforms saw accelerated growth. Market analysis and industry reports have consistently indicated sustained growth within the health and fitness sector, propelled by factors such as personalised fitness regimes and the widespread adoption of wearable fitness trackers and digital platforms.
One company that has been closely monitoring the evolving trends in the combat sports industry is Alta, which has seen a notable increase in participants, particularly in the mass entertainment MMA fandom. According to Alta’s founder and CEO Nick Langton, there has been a growing interest in hybrid training approaches that combine in-gym experiences with at-home training. The company offers high-quality curated online and in-gym experiences through its Warrior Training Program, UFC Fit Program, and Alta Academy, providing athletes access to curated content from leading global coaches. With a strategic acquisition of media property, The Underground and mixedmartialarts.com, Alta is positioned to take advantage of the opportunities presented by this significant growth.
Another company making strides in the health and fitness industry is Evolt 360, founded in 2015. They focus on body composition technology, providing a comprehensive analysis of an individual’s body composition. Co-founder Kelly Weideman emphasises the importance of understanding more than just a scale weight, as body composition testing can provide a more detailed and accurate picture of body composition health. The pandemic significantly altered the landscape of the health and fitness industry, leading to a surge in awareness about the importance of maintaining good health and immunity. Weideman believes that the future will likely see a blend of both gym workouts and home fitness regimes, with digital fitness solutions and health monitoring technologies like Evolt 360 supporting these trends.
In the sporting gear and lifestyle categories, Super Retail Group (SUL) is a significant player, with brands such as Supercheap Auto, Rebel, BCF, and Macpac. Despite a challenging macro environment, SUL group sales increased by 7% to a record $3.8 billion in FY23. Anthony Heraghty, Group CEO and managing director, highlighted the strong performance of Rebel, driven by the successful rollout of its “homes of sport” format and key events like the FIFA women’s football World Cup. The company remains optimistic about its H1 FY24 results, which will be highly dependent on trading in the peak Christmas holiday period.
The global health and fitness sector presents significant opportunities for companies operating in fitness equipment, virtual workout platforms, body composition technology, and lifestyle categories. As the industry continues to grow, there is a prime opportunity for companies to capitalize on the increasing demand for fitness, health, and well-being solutions.
+ There are no comments
Add yours