In recent years, the rise of social media platforms such as Instagram has resulted in a huge shift in the fitness is seen and the way we exercise. With the instant sharing of constant reminders to stay active, people understand the importance of leading an active and healthy lifestyle, which wasn’t the case before. Eventually, the fitness industry is booming and there are endless opportunities in this sector.
Especially, there is a demand for low-cost membership options for people to stay fit. And, this has opened up new opportunities for fitness startups. While there has been over 400% growth in the past three decades, it was at its peak in 2015 with 60 gyms such as Lefit and Pivot having been founded in the year.
ClassPass leads the fitness race!
In a recent development, the sports business insurance provider Protectivity analysed data from hundreds of innovative gyms to reveal the countries with the highest number of gym businesses. It has also revealed the gyms with the highest funding and brands that are most protected by registered trademarks.
When it comes to the gym industry, funding is a great business and ClassPass, which is an online, mobile service offering health services and fitness classes at a subscription fee leads the race with $549 million (nearly €504 million) funding.
Countries with most gym companies
As per the report, the United States is home to the most gym companies in the world with 189 headquarters in the country. In Europe, Germany, Spain, and Ireland have the highest number of gym companies. This report highlights the strength of the European fitness market right now. A Deloitte report in the fitness industry suggests that Europe has 62.2 million fitness club members and over 61,000 clubs.
Main image picture credits: ClassPass
Stay tuned to Silicon Canals for more European technology news
