In 2023, the Pilates & Yoga Studios market is projected to reach a value of US$ 118.9 billion, and between 2023 and 2033, it is anticipated to grow at a CAGR of 10.6% to reach US$ 325.6 billion. From 2018 to 2022, the market for Pilates and yoga studios experienced a compound annual growth rate of 7.6%.The objective of this industry is to change the association between service users and health services by allowing individuals to preserve and improve their health.
Yoga is a spiritual and physical practice which helps an individual to improve body flexibility, focused on breath control and strengthen stamina of the body. On the other hand Pilates is a method of physical exercise which helps to build balance and posture of the body, also emphasizes muscle balance and core strength.
What is Driving Demand for Pilates and Yoga Studios?
It is seen that every fifth person around us are suffering from the health problems like diabetes, blood pressure, obesity and other breathing problems. The rise in health consciousness and the prevalence of obesity are two main factors that have propelled the growth of Pilates and yoga studios.
Yoga and physical exercise are the best solutions to any problems, from chronic conditions like asthma to lethal diseases like cancer. People are taking time out of their hectic schedules to care for their health while society is becoming more aware of the issue. This knowledge paves the way for Pilates and yoga studios to expand their market share.
Practicing yoga and Pilates helps individual to make healthy and positive choices regarding a variety of factors, such as nutrition, physical activity, sleep, the use of alcohol and drugs, self-care, and the appropriate use of health care systems.
The government also encourage people to do exercise regularly to live a healthy and happy life. For instance, every year 21st June is celebrated as an International Yoga Day. This day aims to raise awareness globally of the benefits of participating in yoga.
Indian government also organize a run for life campaign and practice of exercise and yoga. These initiatives to promote happy and healthy life fuel the growth in the number of participants for Yoga and Pilates.
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Factors Likely to Augment Pilates and Yoga Studios Demand
Millennials are inspired from sports player, artist, and celebrities to practice yoga and Pilates. Because it is seen that from cyclists to TV show character, football players are using Pilates and practice Yoga. And also many player signed partnership with famous personality to instruct and trained their members. This partnership helps the company to attract more youth to enroll in their studio.
Primary drivers of this market are increase in population and their per capita income. People are becoming health conscious and focusing more towards relaxation and proper maintenance of physical fitness
Also the growth in the fitness consciousness along with the change in the life style are some factors that provide an opportunity to the players to gain the comparative advantage in the market. Furthermore, companies are adopting promotional marketing activities as a key strategy to generate more revenue and increase market reach.
Outbreak of Novel Coronavirus on Pilates & Yoga Studio Market
Yoga and Pilates studios are bracing for huge changes after the corona pandemic crisis ends. Things that encourage people regarding Yoga are intimate classes, emphasis on breath, attention from trainer and close-knit communities are the things that make group sessions feel risky amid the threat of the COVID-19.
During group sessions, exiling and inhalation of breath could spread virus infection; there’s a potential that diseased persons could transmit germs to healthy people when practicing yoga. This worry of health issues may hinder the growth of the Pilates and yoga studio industry.
Apart from that, virtual training via online channels saw a considerable increase during the epidemic, as many health-conscious people were frequently doing yoga and exercise at home.
US and Canada Pilates & Yoga Studio Market Outlook
Because of the rise in the number of yoga practitioners and the increased sale of yoga gear at various studios, the market for Yoga and Pilates Studios is booming in the United States and Canada.
Women are more concern about the yoga and Pilates because it is proven that these exercise improves the body shape and also keep the individual active. Pilates improves the abdominal muscles, hips, buttocks and lower back. That’s why it is more famous in women as compared to men. But participation rates among male candidates are increasing, thus boosting industry growth.
Pilates is the most popular and well-known activity in the United States and Canada. People in these countries are very interested in learning about new cultures and trends, and yoga is one of them. People in the United States and Canada are drawn to yoga and incorporate it into their daily lives.
Since Pilates is a physical activity, so aged and unhealthy people are unable to perform such exercise, but different yoga like Ujjayi Pranayama, Nadi Shodhana Pranayama, Kumbhaka Pranayama and Kapalabhati Pranayama are perform by all age group people. These helps the players to expand their service which are beneficial by all people.
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Europe Demand Outlook for Pilates and Yoga Studios
Yoga and Pilate’s studios are steadily expanding in Europe, as people become more aware of the benefits of yoga and other forms of physical activity in their daily lives. People of all ages are using these facilities.
Even yoga and Pilates is a part of the co-curricular activity of the students in their schools. They studied how yoga helps in relieving stress and how Pilates improve posture, strengthen the stomach, improve overall strength etc. So from childhood, they understand the benefits and importance of both form of exercise and start looking for yoga and Pilates studios.
Again with the trend of work from home or study from home, and closing of tourism and leisure venues, due to the regulations imposed on outdoor activities. Players in Europe shifted themselves to online fitness programs such as meditation, yoga, workout and so many other activities that bring joy, happiness to the house. And this plan gained good popularity of online yoga and meditation programs in European countries.
Furthermore, with social media platform, people can showcase their benefits (what they feel by taking service from studios) and encourage other people to join yoga and Pilates studios. All these factors fueling the demand for studios in the region.
Who are the Key Manufacturers and Suppliers of Pilates and Yoga Studios?
Some of the leading manufacturers and suppliers of Pilates and yoga studios include
- Fitness Firm Yoga and Pilates Studio,
- Authentic Pilates.
- Fitness Unlimited
- Body & Soul Yoga Club
- SELF Fitness Studio
- Breathe Pilates And Yoga Studio
- Nami Yoga Studio
- Endurance Pilates & Yoga
- Waterfall Sport & Wellness
- The Movement Studio
- Flex studio, Core Pilates
- CyberGnarus LLC
- M Pilates + Yoga
- Core Studio Pilates & Yoga LLC
- TOKYU SPORTS OASIS
- Pilates Unlimited.
- Active-Ageing Chiropractic and ZEN PLACE Inc.
- Pilates Pro Works
- BDC PILATES, among others.
The global Yoga and Pilates studio market is competitive because of the presence of a large number of globally competitive and regional players. The majority of players adopt different strategies like a free consultation and expert instructors to enhance their presence in the market. Players in competitive markets work on expanding their consumer base.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
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