As the fitness industry continues to consolidate and mature, with prominent fitness equipment manufacturers vying for dais positions, functional fitness training equipment is bid to gain increased traction in the forthcoming years. With continuous rise in the obesity and cardiovascular disease epidemic, functional training – a latest trend in the fitness industry – is likely to play an integral role in improving health of individuals, alongside increasing awareness about following healthy lifestyle.
Various non-profit organizations, such as the USA Functional Fitness (USAFF) have been focusing on the promotion of functional training via spreading awareness on its inherent benefits through championship initiatives. This has spurred the participation rate in fitness activities, with premium fitness centers such as Gold’s Gym incorporating functional fitness activities in their workout regimes. Growth of the functional fitness equipment market will significantly remain influenced by the aforementioned instances.
A recent Fact.MR report foresees the functional fitness equipment market to present an impressive growth during the period of forecast (2018-2028). With Millennials increasingly driving the consumer spending, offering services appealing to their values is being considered crucial among industrial sectors, and the fitness industry is no exception. A recent survey has found over four-fifth percentile of Millennial population adhere to daily exercise, as opposed to that of just above three-fifth of Baby Boomers.
For Millennials, health & wellness is an active, daily pursuit, with their focus being robust with regard to exercise, and healthy diet. This generation is smoking less than its predecessors. Fitness is one area where Millennials are willing to spend more on compelling brands. In addition, the trend of functional training is highly underpinned by the Millennials. Nevertheless, other demographic segments are not being neglected, when it comes to development of functional fitness equipment, as the actively-aging Baby Boomers population is also deemed as a lucrative area for growth.
Functional Fitness Equipment Market: Bars & Plates and Kettlebells & Dumbbells Remain Sought-After
Bars & plates seek extensive adoption among enthusiasts that indulge in dynamic lifts, including snatches and cleans, particularly with heavy weight loads and high reps. Although most athletes prefer standard-sized bars, some feature ones with smaller diameter. Smaller diameter bars particularly seek used among the female fitness enthusiasts, of whom participation rates have witness significant proliferation in the recent past.
Functional training workout activities frequently feature plates of 65 lbs for women and 95 lbs for men, which has driven the demand for these bars & plates variants. Bars & plates are likely to remain sought-after among end-users of functional fitness equipment, with kettlebells & dumbbells following the suit. With rising traction of progressive kettlebell & dumbbells workouts, these functional fitness equipment are witnessing huge demand as they serve the purpose of adding weight to the exercise movement patterns.
Functional Fitness Equipment Market: Rowing Machine to Present Fastest Revenue Generation while Gaining Traction as “The New Spinning”
Rowing machine has recently witnessed a rise in popularity as a combination machine, which combines cardiovascular elements and muscle building resistance. Easy-on-joints and low impact attributes of rowing machines have led their interest among older fitness enthusiasts. This humble rowing machine that long gathered dust in corners of gyms, has been experiencing a renaissance over the recent past, being dubbed as “the new spinning”.
The report envisages fastest revenue growth for rowing machines through the forecast period. While indoor rowing machine is likened to the equipment that ply their trade on water, past few years have demonstrated rowing machine’s popularity surge as an alternative to static bikes and treadmills in gyms. This will significantly impact growth of the functional fitness equipment market in the long run.
Functional Fitness Equipment Market: Growth Remains Confined by Lower Translation of Health Awareness into Require Action in Emerging Economies
Although increased efforts are being health organizations and medical institutes to spread awareness on leading healthier lifestyle, a significant chunk of population is observed to be irregular w.r.t their consumption patterns and fitness activities. For example, nearly three-fourth population in India fail to exercise, with approximately two-third of them not monitoring their diet.
Such unawareness and ignorance toward health among populations in emerging economies and underdeveloped nations will continue to inhibit demand for fitness equipment, thereby curbing growth of the functional fitness equipment market. Additionally, high reluctance among amateurs with regard to purchasing functional fitness equipment on account of their high cost, compared to the regular gym equipment, will continue to be a key growth deterrent for the functional fitness equipment market in the near future.
Several corporate organizations are currently focusing on recommending functional fitness activities to their employees. This is mainly because functional fitness equipment are economically viable for companies, compared to their gym and health club employed counterparts. There is high potential for corporate fitness management in enhancing productivity of employees via boosting their morale while improving the overall wellness of the workplace environment. This will further pave immense growth opportunities for the functional fitness equipment market in the foreseeable future.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
A recently published Fact.MR report issues a detailed and an all-inclusive study on the functional fitness equipment market. The report imparts an impact analysis on different important factors expected to affect expansion of the functional fitness equipment market during the forecast period (2018-2028).
The report is an exhaustive take on the functional fitness equipment market’s performance, and exerts in-depth insights on key drivers pushing sales of the functional fitness equipment. Opportunities that can be leveraged by functional fitness equipment producers, and lucrative trends influencing growth of the functional fitness equipment market have also been engulfed in the report.
Functional fitness equipment are equipment that prevent physical damages to products caused by falls. Functional fitness equipment are available in the market in a wide range of variants including standard pallet rack safety nets, cargo bednet, wire mash backers, rack safety traps, cargo load bags, ratchet straps, rack safety cables, and cargo stabilizer bar.
With the international trade industry and e-commerce sector witnessing rapid growth, the global manufacturing industry is observing an extraordinary growth. However, producing products in developed countries such as U.S. costs manufacturers considerably higher than that in developing countries. As labor cost and overhead costs are low in developing countries, many businesses are choosing to outsource overseas, especially in emerging economies.
The rise in outsourcing in manufacturing endeavors in emerging economies coupled with favorable government policies is boosting the trend of industrialization in developing nations. Ultimately, manufacturing activities are increasing in developing countries such as China, India, and Brazil, which is creating needs for appropriate functional fitness equipment in order to improve the productivity of various manufacturing processes.
Functional Fitness Equipment Market: Tenacious Report Structure
For facilitate understanding of the different aspects of the functional fitness equipment market, the report is divided into different chapters, each presenting deep insights on the functional fitness equipment market based on the market segmentation. Dedicated chapters on end-use industries, product type, sales channel, applications, and region, provide important information on these segments across the various assessed regional functional fitness equipment markets.
For all these segments, the report tracks the key market metrics and also highlights the market attractiveness, which quantifies the segmental insights presented in this report on the functional fitness equipment market. A comprehensive executive summary succinctly captures the highlights presented in this extensive study on the functional fitness equipment market.
The chapter provides information on the functional fitness equipment market valuation, market growth push and pull factors, top segments in terms of valuation, and key regional markets to focus on. The executive summary captures the essential aspects of the functional fitness equipment market in a nutshell and serves as a valuable first-level reference point for readers.
Functional Fitness Equipment Market: Regional Analysis
A few key chapters of the report present the regional insights on functional fitness equipment across the top geographies in the world. These chapters include an assessment of the various regional factors driving the adoption of functional fitness equipment in various countries.
Regional market share of functional fitness equipment along with year on year growth projections and capacity analysis is also highlighted in these chapters. Each regional chapter tracks the performance of the functional fitness equipment market in the respective region with a focus on the growth of each market segment across the top countries of the region.
Functional Fitness Equipment Market: Detailed Competitive Assessment
One of the most prominent offerings of the report is detailed analysis on the current market structure of the functional fitness equipment market. This chapter throws light on the top companies leading the functional fitness equipment market. Detailed information pertaining to company and business overview, current market share, growth strategies, and other key metrics pertaining to these companies is provided in this chapter.
A comprehensive SWOT analysis of key market players adds more value to the basic understanding of the dominant and second-in-line players operating in the functional fitness equipment market. This chapter is useful for both established companies as well as market entrants and has been included with an objective to provide a comprehensive picture of the functional fitness equipment market from a competition standpoint.
Functional Fitness Equipment Market: Accurate Insights Underpinned by Robust Research Methodology
A robust research approach has been adhered by the analysts at Fact.MR for contemplating key industry dynamics to offer a precise and an authentic market intelligence. Intrinsic blend of primary as well as secondary research is leveraged to deliver estimates & forecasts on the functional fitness equipment market.
Initial phase of this research involves secondary research, wherein analysts have conducted comprehensive information mining, using verified & up-to-date data resources, which include technical journals, latest independent studies, and government as well as regulatory published material that form the foundation for the functional fitness equipment market estimates.
All market estimates and forecast imparted have been verified using an exhaustive primary research by conducting interviews with prominent market participants & industry experts. These primary interviews have facilitated validation of the information procured, which in turn has aided gaining accurate industry insights and estimations.
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