| Source: Research Dive Research Dive
New York, USA, May 04, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global pilates and yoga studios market is expected to generate a revenue of $269,301.8 million by 2028, growing exponentially at a CAGR of 10.0% during the forecast period. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Segments of the Pilates and Yoga Studios Market
The report has divided the market into segments based on activity type and region.
Activity Type: Yoga Classes Sub-segment to be Most Profitable
The yoga classes sub-segment is expected to acquire a dominating market share, and is also anticipated to witness the fastest growth rate during the forecast period. This sub-segment generated a revenue of $63,942.2 million in 2020, and is further expected to register a revenue of $144,293.7 million during the forecast period. There has been a significant surge in the popularity of yoga classes across the globe, especially after the pandemic, owing to its impeccable benefits for maintaining a sound physical and mental health. Yoga helps in enhancing strength and flexibility of the body, apart from relieving back pain, arthritis, and others. In addition, yoga helps in reducing stress, and hence promoted healthier heart. These factors are expected to bolster the growth of the pilates and yoga studios market sub-segment during the forecast period.
Other sub-segments include pilates classes, pilates and yoga accreditation training, and merchandise sales.
Region: Asia-Pacific Region to Dominate the Global Pilate and Yoga Studios Market
The Asia-Pacific region is expected to generate a revenue of $89,790.9 million during the forecast period. Growing awareness about spiritual and therapeutic benefits of yoga along with the remarkable increase in the number of the yoga schools and studios in this region is expected to accelerate the growth of the regional pilates and yoga studios market during the forecast period.
Key Players of the Pilate and Yoga Studios Market
The major players of the pilates and yoga studios market include
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth. – Inquire Here to Get access for Key companies Development Strategy Report
For instance, in October 2021, F45 Training, a global fitness community specializing in innovative, high-intensity group workouts that are fast, fun, and results-driven, launched a unique and innovative program called “The FS8 Program”, a new fitness concept backed by former Aussie professional surfer Mick Fanning that amalgamates both pilates and yoga training to tone your body in 45 minutes. The globally recognised fitness giant blends all the integral elements of yoga and pilates workout styles into a single 45-minute workout routine. Members can rigorously engage themselves in burning unwanted calories with the help of a group training experience that include mat work, light weight dumbbells, pilates reformer and activation bands. The name of the training concept stands for ‘functional style’ training and the eight denotes the number of training modules the brand combines to develop the workout.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
COVID-19 Impact on the Pilate and Yoga Studios Market
The outbreak of coronavirus has had a devastating impact on the growth of the global pilates and yoga studios market, owing to the occurrence of lockdowns in numerous countries across the globe. Lockdowns led to the shutdown of various fitness studios and gyms across the globe due to the stringent restrictions and limitations imposed by the government on large gatherings, in order to curb the spread of the virus during the pandemic. This led to the closure of pilates and yoga studies, resulting in a massive revenue loss. Thus, coronavirus has had a negative impact in the growth of the market.
Dynamics of the Pilates and Yoga Studios Pilate and Yoga Studios Market
Drivers: Growing awareness about the benefits of yoga and pilates on the body of an individual is expected to drive the growth of the market. Yoga and pilates helps in improving flexibility, concentration, alertness, body posture, muscle strength, and others. In addition, significant surge in the number of health-conscious people across the globe is further expected to bolster the growth of the pilates and yoga studios market during the forecast period.
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Restraints: Prevalence of alternate fitness platforms like Zumba, gyms, martial arts, etc. is expected to impede the growth of the market during the forecast period.
Opportunities: Increasing popularity of digital classes of yoga and pilates among people across the globe is expected to create tremendous opportunities for the growth of the pilates and yoga studios market during the forecast period.
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