South Korea Fitness Market Overview, 2029

The history of South Korea's fitness industry is short but fast growing. While traditional martial arts, like taekwondo, for example, have long been deeply ingrained within Korean culture, the modern concept of commercial fitness centers and gyms only really took off in the late 1990s and early 2000s. With the burgeoning Korean entertainment industry and a ready display of K-pop culture "fit and toned" celebrities, the demand has started to increase for these services amid products. Today, South Korea's market is thriving with the establishment of major international chains of Fitness Planet, Curves, and Anytime Fitness, as well as domestic brands like Renaissance and Hyundai Dream Tour Resort. Seoul, as the capital, became a fitness hub with a wide range of facilities ranging from giant gyms to boutiques studios offering almost every possible type of workout program. For its part, the Ministry of Culture, Sports, and Tourism has initiated campaigns for urging citizens to undergo regular exercises and invested in developing public sports facilities and parks. One of them is the government's "National Fitness Center Construction Project". It aimed at constructing at least one national public fitness center in every district of the country. The centers provide Citizens with exercise equipment and classes, which are particularly low-cost for people featuring in rural or low-income areas. While the industry is blowing gold wind at an unprecedented rate today, the challenges are rife. The high price of a collective membership fee in a luxury gym is quite hard on people, and there needs to be increased diversification in gyms to accommodate different tastes and age groups. The South Korean fitness market continues to evolve, and technology is deeply involved in the process. From virtual reality workout experiences to AI-powered personal training apps, innovation is helping the industry to improve the fitness experience and widen the consumer base. According to the research report "South Korea Fitness Market Overview, 2029," published by Bonafide Research, the South Korea Fitness market is expected to reach a market size of more than USD 2 Billion by 2029.There has been a rising consciousness and concern about health and wellness issues, in particular lifestyle diseases and mental health. The fitness solution promises a more integrative way of health care with the harnessing of traditional and novel techniques. It works to better the aspects of physical and psychologically healthy living and, as a result, significantly cuts the cost of health and boosts quality life. The government of South Korea has also shown an aggressive promotion in what concerns the adoption of a healthy lifestyle. Evidently, these programs are causing a public health, wellness, and lessening of the cost of healthcare. The public and commercial sectors are increasingly becoming interested in the fitness of all individuals resulting in the enhancement of the market for fitness services. The interest of the government in health and wellness in South Korea is creating a target market for the company. For instance, health programs initiated and supplements on physical workouts and eating healthy are enhancing more intense involvement by the public in fitness activities. But innovations both in fitness equipment and in digital platforms offer appealing and cost-effective solutions to consumers nowadays. Fitness technologies nowadays, including high quality and reliability of tech electronics, signify options for exercises and wellness in any different setting. As an image of quality and reliability from South Korea regarding tech products, doors to more global markets can then open, enhancing the growth momentum of the fitness industry. South Korea is rapidly urbanizing, with a majority of the populace living in high-density cities. Urbanization increases the need for convenient, practical exercise solutions. Fitness centers, home workout equipment, and online training or fitness support applications in a handheld electronic device have become mainstream aspects of the urban lifestyle, which deliver handy and effective fitness solutions if followed to manage health in today's fast life.

An extremely strong cultural orientation to good health and wellness is combined in South Korea with a very high integration of technologies into daily life, therefore making the fitness market grow fast in South Korea. Among the people of South Korea, cardiovascular training equipment, such as treadmills, ellipticals, stationary bikes, and rowing machines, enjoys unparalleled popularity. Machines used for cardiovascular workouts are instrumental in making hearts and lungs stronger, increasing endurance, and helping to control body weight. The greatest demand is for high-tech cardiovascular equipment, whose interactive screens enable the selection of virtual training programs and the real-time tracking of performance. The growth of the strength training gear market is high for free weights (dumbbells, barbells), resistance machines, and multifunctional home gym systems. Benefits, coupled with the realization of strength training with muscle mass, improved metabolism, and physical strength that upsurges, are some of the innovative works in the domain of compact home gym set-ups, adjustable weights, and smart strength equipment that will guide the workout and track progress to a user, hence gaining popularity with South Korean fitness enthusiasts. One of the most rapidly expanding segments is fitness monitoring equipment. Devices that the fitness monitoring offers, like smartwatches and fitness trackers bands, are being welcomed with both hands. These gizmos deliver complete information about physical activities, heart rate, sleep patterns, and other health metrics. With it, people can monitor their routines of physical activities detail by detail in measures and optimize them to a greater degree. All these accessories help to support the different forms of fitness workouts—for instance, accessories such as yoga mats, foam rollers, resistance bands, jump ropes, and exercise balls. These accessories are relevant in enhancing the effective execution of the workout, prevention against injuries, and variations in training methods. The South Korean fitness market's "other" category is known to encompass sports nutrition supplements, recovery tools, and well-being gadgets. Having said more and more people are adopting an overall perspective on fitness and well-being, they hence search for products that will complement the nature of activities being involved while supporting general health. Health Clubs and Gyms is a big segment of the South Korean market for fitness. Several gyms and health clubs install up-to-date equipment and the latest facilities. Indeed, many gyms include group classes in their programmes such as dance and martial arts classes that are loved by the locals. There is also a growing trend of gyms operating 24/7 as well as studios that basically concentrate on one particular area of workout. Fitness online segment is extremely fast growing in South Korea, where many fitness companies and personal trainers are now offering virtual classes and online coaching services. The usage of technology in the domain of fitness is also very vast, based on a mobile application and wearable devices that have popularly become used to track the workout going on and to connect to others. Home Fitness segment of the market is growing in South Korea. More people are investing in home gyms and workout programs. Some attention is being paid to compact and multi-functional equipment, which can be used within small spaces. This is since many South Koreans will live in their apartments. Others would include corporate wellness programs, educational-fitness programs, medical and rehabilitation centers, and fitness tourism. Corporate wellness programs have become increasingly popular especially among South Koreans since most companies provide their workers with fitness facilities and classes. There is another emerging trend of "wellness travel" where people take up trips solely for improving their health and fitness. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Fitness market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Manmayi Raval

Research Consultant

By Product • Cardiovascular training Equipment • Strength training Equipment • Fitness monitoring Equipment • Fitness Accessories • Others By Application • Health Club And Gyms • Online Fitness • Home fitness • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

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Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Fitness industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.