Brazil Home Fitness Equipment Market
Brazil Home Fitness Equipment Market to Grow at 4.5% CAGR During 2023–2029
Published | 10 January 2023
Brazil home fitness equipment market is flourishing because of an increasing awareness about health and wellbeing, growing obese population, a surging number of chronic disorders, and a rising number of gyms and fitness clubs across the country.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Brazil home fitness equipment market size to grow at a CAGR of 4.5% during the forecast period between 2023 and 2029. Major factors for the expansion of Brazil home fitness equipment market include increasing obese population, high disposable income in developing countries and an increase in the number of young people across the region. An increasing sedentary lifestyle, as well as an increase in the number of fitness service providers, centers, and markets, such as Bio Ritmo, Formula, and Bodytech, introducing low-cost establishments for members with low income, is propelling the fitness equipment market forward. To attract as many customers as possible, several service providers are giving weight loss program packages and discounts. Key market players in the Brazilian fitness equipment industry are opening new and innovative fitness clubs and spa chains. This is predicted to have a beneficial impact on membership subscriptions, boosting the growth of the fitness equipment market over the forecast period. Rising rates of cardiovascular disease, diabetes, and osteoarthritis are causing widespread worry. Cardiovascular disease is one of the leading causes of death, according to the World Health Organization (WHO). However, many groups use sports to promote a healthy lifestyle. As a result, an increasing number of people are actively participating in physical activities such as signing up for training programs and packages or working out independently. Hence, all these factors are expected to boost the expansion of Brazil home fitness equipment market during the forecast period. However, rising demand for resale old used fitness clubs is anticipated to restrain the growth of Brazil home fitness equipment market.
Brazil Home Fitness Equipment Market– Overview
A fitness equipment gives resistance to a person as it executes physical activities to increase strength and stamina, control weight, and enhance flexibility. It aids in enhancing one's personality and appearance. There are treadmills, elliptical, weight machines, free weights, and other pieces of workout equipment accessible. The equipment has been used by health clubs, gyms, home customers, and business offices. Cardio exercise equipment with pre-set routines is among the commercial-grade equipment. Treadmills are commercial-grade, heavy-duty machines with a large-cushioned deck for absorption control and quiet operation. The equipment's belt speed must be variable and responsive. Several pre-set programs, as well as essential start, stop, speed, and incline modifications, will be available for touch selection by the user. The equipment will contain internal self-cooling and speed sensors, allowing for precise real-time training data feedback. Water bottle holders and accessory trays will be designed to be easily accessible and to accommodate personal items such as a music player. Elliptical machines are durable, commercial-grade equipment with a solid frame, good stability, and balance.
Brazil Home Fitness Equipment Market – By Type
By type, Brazil home fitness equipment market is bifurcated into Cardiovascular Training Equipment and Strength Training Equipment segments. The cardiovascular training segment holds the highest market size due to rising prevalence of heart diseases, diabetes, and high blood pressure. The cardiovascular training segment includes treadmill, elliptical, stationary bike, and rowing machine.
Impact of COVID-19 on Brazil Home Fitness Equipment Market
COVID-19 had a detrimental impact on fitness market due to imposition of lockdown across the country has resulted in gym closures, enforcing the shift of gym goers toward home fitness equipment from 2020. Latin America, particularly Brazil, was severely impacted. Government officials in the region had taken the necessary precautions to safeguard their citizens from COVID-19 infection. Argentina, Brazil, Chile, and Peru have all experienced significant declines in the market for connected gym equipment. Since numerous people shared a single piece of exercise equipment, there was a high risk of corona virus spreading. As a result, several travel restrictions have been enforced. Governments have imposed severe limitations on gyms since they are classified as non-essential services. Therefore, overall fitness equipment market size has witnessed a dip in the same year. On the contrary, COVID 19 has changed the fitness landscape and accelerated the at-home workout market. With the rise in online sales of home gym equipment, home exercise has emerged as a viable option. In the face of the pandemic, self-care has become an essential component of people's health, encompassing mental, physical, and emotional health. The pandemic has also raised public awareness about the importance of improving one's immune system and physical fitness. Due to the persistence of quarantines and social distancing practices, gyms were closed, fostering a culture of home-workout and, as a result, a growing demand for fitness equipment for homes.
Major players operating in Brazil home fitness equipment market include Johnson Health Tech, Total Health, Tryex Fitness, Matrix Fitness, Technogym, LifeFitness, Bh Fitness, Core Health and Fitness LLC, and Tunturi New Fitness BV. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics Brazil Home Fitness Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Brazil Home Fitness Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Brazil Home Fitness Equipment Market - By Type (Cardiovascular Training Equipment, Strength Training Equipment); By Sales Channel (Online, Offline), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: January 2023
Increasing numbers of health and fitness conscious population, rising obese population, surge in number of chronic disorders, and increasing number of gyms and fitness clubs are projected to propel the expansion of Brazil home fitness equipment market during forecast period between 2023 and 2029.
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