Functional Fitness Equipment Market

Functional Fitness Equipment Market Snapshot (2023-2033)

The global functional fitness equipment market is expected to surpass an impressive valuation of US$ 14.8 Billion in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 5.8% from 2023 to 2033.  Functional fitness equipment is a device that permits the body to move in a similar way to how it would move in daily situations.

This allows for complete body movement in all angles and imitates movements performed at tasks, in sports, and in everyday life. These deliver a more dynamic, adaptable atmosphere as well as a wide range of exercise habits. The utilization of numerous muscle fibers in more than one plane of motion on operational fitness equipment results in greater intensity carryover and neuromuscular adaptation.

The market is being influenced by a rise in consciousness of a healthy lifestyle and a rise in fitness levels. Furthermore, the surging prevalence of obesity and coronary heart disease among various individuals is anticipated to drive an increase in the need for the global functional fitness equipment market. Furthermore, various non-profit organizations and corporate entities are focusing on health complications and creating awareness through the operational training of individuals. The market is predicted to expand as people become more cognizant of the advantages of maintaining a healthy lifestyle.

Report Attribute	Details
Expected Market Value (2023)	US$ 14.8 Billion
Projected Forecast Value (2033)	US$ 26 Billion
Global Growth Rate (2023-2033)	5.8% CAGR
Anticipated Market Value of Europe (2023-2033)	26%
Major Functional Fitness Equipment Providers	Brunswick Corporation Escape Fitness Ltd. Precor Inc. Technogym S.p.A Torque Fitness LLC Concept2 Inc. Johnson Health Tech Co. Ltd. Total Gym Global Corp. Hampton Fitness Inc. XFit Brands Inc.

2018-2022 Functional Fitness Equipment Growth Outlook Analysis vs. Forecast 2023-2033

According to the Fact.MR report, the functional fitness equipment market has shown impressive growth during the historical period (2018-2022). With Millennials progressively cruising disposable incomes, providing services that appeal to their attributes is becoming particularly crucial across businesses, including the fitness industry. According to the latest survey, more than four-fifths of the Younger population engage in daily exercise, compared to just over three-fifths of Baby Boomers.

With the overweight and cardiovascular disease epidemics on the rise, functional training, a new trend in the fitness community, is expected to play a crucial role in promoting people's health and raising awareness about a healthier lifestyle. Various non-profit organizations, such as USA Functional Fitness (USAFF), have been concentrating on the advancement of functional training through championship approaches that raise awareness about its obvious benefits over the upcoming decades.

Which are Some Prominent Drivers of the Functional Fitness Equipment Market?

The functional fitness equipment market is undergoing a major shift as big-box health clubs and low-cost, elevated chains phase out large-footprint, conventional devices. Despite the fact that investments are still a concern, the advantages of functional fitness equipment surpass the expense of the "out-with-the-old-in-with-the-new" principle, as the health club industry shifts its concentration toward establishing "functional training spaces." This will vastly improve the functional fitness equipment market's development in the near future.

Although it is generally perceived as a trend, functional training will remain dominant, encompassing a broad spectrum of stamina and movement training. The functional fitness equipment market's potential remains bullish, as functional fitness software emerges in tandem with enthusiast demands and the necessity for dynamic fitness equipment.

Kettlebells and dumbbells, as well as rowing machines, are presumed functional training staples. Traditional designs of sledgehammers, weighted bags, and battle ropes are inclined to be modified with must-have characteristics pertaining to health club functional fitness training zones in the functional fitness equipment industry.

Non-profit enterprises are aiding with fitness sessions and promoting Public Awareness to push the market

Furthermore, non-profit organizations are assisting the fitness sessions and raising public awareness about them. They are primarily focused on functional training and raising awareness about the benefits through various initiatives. As a result, the global functional fitness market is led by individuals who participate in exercise programs. Furthermore, diverse business companies are now concentrating on promoting functional training to their employees.

This can boost productivity among staff by creating positive and enhanced work wellness. Functional fitness equipment is financially feasible for enterprises because it will provide enormous growth possibilities in the future. This has created even more requirements for the market across the globe.

What are the Challenges Projected to be Faced by the Market?

The higher cost of functional equipment in comparison to gym equipment can stifle growth

Despite higher efforts by health organizations and healthcare institutes to raise awareness about living a healthier lifestyle, a considerable portion of the population is ascertained to be irregular in terms of their consumption habits and fitness programs.

In India, for example, nearly three-quarters of the population does not exercise, and nearly two-thirds do not supervise their diet. Such health awareness and gullibility among populaces in developing economies and developing countries will continue to stifle demand for fitness equipment, stifling growth in the functional fitness equipment market.

Furthermore, the high disinclination among amateurs to procure functional fitness equipment's expensive cost, when compared to standard gym equipment, will serve as a crucial growth hindrance for the functional fitness equipment market in the near future.

Region-Wise Insights

What Makes North America the Largest Market for Functional Fitness Equipment?

North America to witness demand as chronic metabolic illnesses become more frequent

North America remains highly profitable for the advancement of the functional fitness equipment market, owing to rising occurrences of chronic metabolic disorders, such as diabetes and heart disease, which are effectively related to obesity. The functional equipment's beneficial properties are thus being integrated by the region's population.

Functional fitness championships held in the United States by non-profit organizations such as USA functional fitness (USAFF) have had a major impact on the region's functional fitness market expansion. During the forthcoming years, North America's overall revenue in the functional fitness equipment market will appear more robust than Europe's.

Why is Europe Considered a Lucrative Region for the Functional Fitness Equipment Market?

Accelerated Obesity Rates will motivate potential markets in Europe

Given Europe's robust fitness industry ownership, there is huge potential for functional fitness equipment producers in the region. The deployment of fitness clubs as a result of Millennials' active in fitness programs is driving growth in the European functional fitness equipment market. Based on the study, a significant proportion of Europe's functional fitness equipment continues to be highly concentrated in the United Kingdom and Germany.

According to the Organization for Economic Cooperation and Development (OECD), one in every four people in Germany is obese. Moreover, the country's rapid obesity rates have raised significant awareness in Germany about fitness and health. As a result, these aspects are expected to accelerate the expansion of the Europe functional fitness equipment sector.

China	5%
U.S.	5.3%
Australia	4.7%
France	4.4%

Category-Wise Insights

Which Type Leads the Market for Functional Fitness Equipment?

The convenient aspects of rowing machines have drawn the attention of older bodybuilders

The rowing machine has recently gained recognition as a combination machine that integrates cardiovascular and muscle-building aspects. Rowing machines' low intensity and easy-on-joint characteristics have sparked interest among older bodybuilders.

This modest rowing machine, which had long gathered dust in gym corners, has recently experienced a transformation and has been dubbed "the new spinning.". Therefore, Rowing machines are predicted to experience the greatest revenue growth over the forecast period, according to the report.

By Application, Which Segment is Projected to Lead the Market?

The health club segment will take over the market

The health clubs keep functional training equipment for the intention of physical activity by undertaking movements from daily life, sports, and work. As a consequence, the health club segment will dominate the market over the upcoming decades.

Functional fitness equipment is employed in hospitals to help patients recover from various health conditions and diseases. Thus the hospital segment will witness a rapid pace. The home/individual segment primarily benefits those who are aware of the benefits or those who suffer from obesity or cardiovascular disease.

Market Competition

Key players in the Functional Fitness Equipment market are XFit Brands, Brunswick, Total Gym Global, Escape Fitness, Hampton Fitness, Torque Fitness, Johnson Health Tech, Technogym, Precor, and Concept2. Some of the latest developments by key players are below

• In April 2022, Core Health and Fitness announced the acquisition of Wexer Holding LLC in order to accelerate digital adoption and enhance the digital fitness industry.
• Johnson Health Tech announced its acquisition of Cravatex Brands Limited's fitness division in June 2022, making it the first fitness equipment corporation to have an entire subsidiary in India.
• Nautilus, Inc., a home fitness improvement leader, declared the launch of the Bowflex BXT8J treadmill with JRNY adaptive fitness app compatibility in September 2022 at select online and in-store retail partners, offering users a complete fitness solution at an economical price point.

Key Segments Profiled in the Functional Fitness Equipment Market Industry Survey

• Functional Fitness Equipment Market by Product Type

  • Medballs
  • Bars and Plates
  • Flat Bench
  • Squat Rack
  • Rowing Machine
  • Kettle-bells and Dumbbells
  • Accessories

• Functional Fitness Equipment Market by Application

  • Health Clubs
  • Home/Individual
  • Hotels
  • Hospitals
  • Corporate Offices
  • Others

• Functional Fitness Equipment Market by Region

  • North America
  • Europe
  • Japan
  • APEJ
  • Latin America
  • Middle East and Africa