Technavio's latest report on the global home fitness equipment marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global home fitness equipment market from 2017-2021. (Graphic: Business Wire)
The research study by Technavio on the global home fitness equipment market for 2017-2021 provides a detailed industry analysis based on the geography (the Americas, EMEA, and APAC) and distribution channel (retail outlets and online stores).
|Home fitness equipment are machines used for working out and include devices that help in monitoring the physical exercises during workouts at home. Technavio analysts forecast the global home fitness equipment market to grow to USD 4,291.21 million by 2021, at a CAGR of more than 5% over the forecast period.|
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The top three emerging trends driving the global home fitness equipment market according to Technavio research analysts are:
- Growth in online sales
- Rise in preventive healthcare
- Growing awareness about lifestyle diseases
Growth in online sales
"Online shopping is widely preferred by a large number of people due to the convenience that it offers. Many international and regional vendors in the market are capitalizing on the popularity of online shopping and selling their products through various online retail channelssays Amber Chourasia, a lead analyst at Technavio for health and wellness research.
For instance, Decathlon provides home fitness equipment through both brick and mortar stores and online. Other online portals such as Amazon and Alibaba are some of the major e-retailers providing exercise and home fitness equipment. Factors such as rising Internet penetration and the rise in adoption of products such as tablets, smartphones, and laptops have further boosted online sales.
Rise in preventive healthcare
Preventive healthcare is expected to fuel the growth of the home fitness equipment market during the forecast period. The growing health consciousness and the rise in healthcare costs are encouraging people to be more healthy and active. To this end, consumers are focusing on consuming healthier foods and engaging in daily workouts to stay fit and manage weight. For weight loss, consumers utilize online weight management programs to customize diets, thereby obtaining faster and optimum results. As preventive health care includes exercising daily, there has been a rise in demand for fitness equipment, which includes home fitness equipment market.
Growing awareness about lifestyle diseases
There has been a considerable change in the lifestyle and dietary habits of individuals over the past two decades, mainly due to the rising consumerism and urbanization. The consumption of artificial and synthetic food products is at an all-time high; and a lack of balanced diet combined with sedentary lifestyles have resulted in increased incidence of lifestyle diseases such as heart disease, stroke, obesity, diabetes, and atherosclerosis.
"In order to curb the lifestyle diseases, governments and fitness equipment manufacturers worldwide are initiating various programs to spread awareness about the need for healthy lifestyles. This awareness will also bring about increased inclination toward workouts and remain healthy and fit, thereby increasing the demand for home fitness equipmentsays Amber.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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