Oman Fitness Market is expected to register a CAGR of 16.9%: Ken Research

Muscat: A new report published by Kane Research said that the fitness services sector in the Sultanate of Oman is expected to register a positive five-year CAGR of 16.9% in terms of revenue during the forecast period 2020-2025F.

The report said Investment from new foreign players in the country will drive the growth of fitness market in Oman. Digital Fitness and At-Home workout will gain traction in the near future as majority of the population intend to make virtual classes a regular part of their routine post pandemic.

Growing Concern for Health and Fitness: With pandemic moving on with uncertainty and for an extended time has pushed peoples’ health to the lowest point. People are coming out to shed the excess weight and get back to their active lifestyles, even corporates are incentivizing their employees to get into the fitness regime. Although, penetration rate is currently low, it will be driven by increase in the number of active members in the country. There is also rise in the different types of fitness routines to accommodate different schedules of people, the report added. 

More Female participants are getting engaged in fitness regimes: majority of participants engaged with gym and fitness centers are male. They usually prefer outdoor places and high-quality equipment. Whereas female participants usually prefer indoor or female only fitness clubs. But in recent times, various fitness centers and gyms are trying to engage female participants by offering programs and discounts to attract them. Different timings that accommodate female participants in unisex gyms or places are being managed to increase the inflow of women into these place, the report said. 

The report title “Oman Fitness Services Market Outlook to 2025F-driven by rise in health consciousness and increasing penetration of international brands across the country.” by Ken Research suggested that the fitness market is further expected to grow in the near future owing to growing awareness of health benefits, increasing disposable income, rising awareness regarding obesity and to overcome health issues such as cardiovascular diseases along with growth of female only fitness centers has been the major key factors which drives the demand for fitness services centers in Oman. The market is expected to register a positive five-year CAGR of 16.9% in terms of revenue during the forecast period 2020-2025F.