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Home Health Care General Healthcare Future Growth of Oman Fitness Market: Ken Research

Future Growth of Oman Fitness Market: Ken Research

What Is The Current Scenario Of Fitness Centres In Oman?

In 2020, GDP of Oman was $26 Billion and the fitness market contributed a sliver to this. Majority of middle age population in Oman remains physically active throughout various small activities however they do not follow a strict fitness regime.

Around 90% of the Fitness Market is addressed through offline channel and rest is fast growing online channel which is driven by social media influencers, demand for diverse fitness regime and Covid-19 pandemic. The industry is transitioning to customer-centric service emphasizing on customer acquisition rather than customer retention. Refining sustainable and customer-centric operations is now becoming the key to success via rich content, attentive service and diversified revenue streams.

Oman Fitness Industry

The Oman fitness Industry has expanded significantly over the last decade contributing ~% of GDP in 2020.  Demand for fitness centers is mostly driven by rising health awareness and increased women participation in fitness centres.

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Majority of participants engaged with gym and fitness centres are male. They usually prefer outdoor places and high-quality equipment. Whereas female participants usually prefer indoor or female only fitness clubs. However, in recent times, various fitness centres 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 places.

Direct Economic Impact Of Fitness Centres

Oman Health and Fitness Market contributed $~ Mn Revenue in 2020 with Offline and Online Fitness Centres contributing ~% and ~% respectively. The number of establishments grew by ~CAGR during 2015-2020.

Commercial Gyms: Commercial gyms and fitness centers focusing on health & fitness of the customers contributed majority of the market revenue generating $~ Mn in 2020 with independent gyms and fitness centers focusing on health & fitness of the customers.

Hotel Gyms: Majority of the Luxury Hotels and Resorts in Oman have well-equipped gyms offering special memberships to the public. A substantial number of facilities such as InterContinental.

Major Hotels and Resorts

Schools/Universities: 18%-20% of the Universities in Oman have well equipped gyms in their campuses/hostels and charge a membership of $15-$20 per month separately and offer their services for the students who aspire for physical well-being thus promoting an active healthy lifestyle.

Residential Townships/Compounds: Few of the apartments in Oman have fitness centers in the residential compounds offering a variety of equipment, amenities, classes and training options for the in-house residents. The middle class prefers to access these gyms in residential areas and communities since they provide opportunity to socialize, making them coveted with residential property.

Medical Fitness Centres and Others: Oman has physical wellness centers equipped with gyms which inspires and assists their clients in healthier lifestyles by promoting, restoring and maintaining the physical well-being of our community. They differ significantly from regular fitness centres.

Indirect Economic Impact Of Fitness Centres

The fitness market has a ripple effect on other sectors such as fitness equipment industry, construction, real estate, apparel and footwear and technology.

Fitness Equipment Market: Oman Fitness Equipment Market generated a revenue of $~Mn in 2020. The growth was driven by obesity and unhealthy lifestyle increased due to pandemic which led to rise in in home equipment.

Premiumization of Real Estate: The major cities of Oman that have plenty and diverse fitness centers have faced the phenomena where there is a large difference in the prices of apartments or rents where residential or community gyms are available versus where there is absence of these. There is a high concentration of organized gyms and chains of fitness clubs in these cities to facilitate a better ecosystem of fitness regimes. This rent difference can stretch upto hundreds of dollars.

Construction Sector: The cost of constructing a Fitness Centre in Oman stands around $~ -$~ per square metre where labors involved in the construction and maintenance of the centres are paid $~ an hour, thereby generating employment in the industry. Building costs for existing rental space or new construction are affected by the geographical location of the club with higher costs of construction materials and labor in urban and developed cities.

Socio Economic Impact Of Fitness Centres

Oman ranked 66 worldwide in Healthcare quality index. The generous healthcare budget of the country has also helped maintain this position in healthcare index. The exercise services provided through fitness centres provide preventative health benefits to customers, essentially reducing the incidence of chronic diseases attributable to physical inactivity. Assuming a significant percentage of the population affected with lifestyle diseases goes to a fitness centre, the estimated savings in direct health care costs from Oman’s fitness centres will be high in the country. The largest component of this saving arises from the avoided costs of cardiovascular disease in a year along with increase in workforce participation and increase in workforce productivity.

Future Catalysts In Oman Fitness Market

Market is anticipated to show a double-digit growth @16.9% CAGR due to rapidly rising interest in all kinds of wellness-related behaviors and lifestyles accompanied by accelerating consumer spending. The offline fitness centers in Oman Health and Fitness market are expected to contribute the majority of the revenue share with the online fitness market anticipated to show a double-digit growth @19.1% CAGR in the forecasted year. Initiatives by the Government to develop the Hospitality Sector will encourage Hotels & Resorts to incorporate fitness centers in their properties and expand their offerings.

Key Segments Covered in Oman Fitness Market: –

Direct Economic Impact of Fitness Centres

Overview of Commercial Gyms in Oman Health and Fitness Market

Overview of Fitness Centres in Hotels and Resorts

Overview of Fitness Centres in Schools and Universities

Overview of Fitness Centres in Residential Townships/Compounds

Overview of Fitness Centres in Hospitals

Overview of Fitness Centres in Sports Clubs and Govt. Organizations

Indirect Economic Impact of Fitness Centres

Oman Fitness Equipment Industry Market Size

Evaluation of Premiumization on Real Estate Sector

Estimated Cost of Constructing a Fitness Centre

Key Target Audience

Fitness Equipment Manufacturers

Fitness Equipment Distributors

Fitness Centres

Government Organizations

Time Period Captured in the Report:

Historical Period: 2015-2020

Forecast Period: 2020–2025

Key Topics Covered in the Report

Socio-Economic Landscape of Oman

Direct and Indirect Economic Impact of Fitness Industry in Oman

Overview of Commercial Gyms in Oman Health and Fitness Market

Snapshot of Digital Fitness Market in Oman

Assessment of the Indirect Economic Impact of Fitness Industry in Oman

Oman Fitness Equipment Industry Market Size

Evaluation of Premiumization on Real Estate Sector

Assessment of the Indirect Economic Impact of Fitness Industry in Oman

Overview of Healthcare Scenario/Health Statistics

Potential Health Implications and Health Cost Reductions

Customer Mindset for Fitness Services

Impact of COVID 19 on Fitness Industry in the Oman

Future Outlook and Projections for Oman Fitness Services Market

White space and Opportunities existing in the Oman Fitness Services Market

Research Methodology

For More Information on the research report, refer to below link: –

Future of Oman Fitness Services Market Growth

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