--Fitness hall elimination affects the demand
Fitness hall is one of the most important demand market for fitness equipment class of sporting goods, by the impact of the epidemic, 2020 national fitness halls are experiencing a moratorium on the test, during this period, many operating The poor state of the fitness center suffered elimination, will inevitably then affect the demand for fitness equipment in the fitness center market. According to the data center of Sansome Cloud Motion, by the end of 2020, the number of fitness venues in China will be about 97,900, a year-on-year decrease of 13.31%; among them, the number of fitness club stores will be about 44,300, a decline of 11.1% compared with 2019, and the number of fitness studios will be 55,600, a year-on-year decline of 14.2%. Nonetheless, China's health club market remains the largest fitness market in the world, and the underlying demand for fitness equipment still exists.
--Home equipment turnover is growing fast
Despite the fact that demand for fitness venues has been severely impacted by the epidemic, China's fitness population in 2020 has grown. Data show that China's fitness population in 2020 reached 70.29 million people, an increase of 3.19% year-on-year. Meanwhile, the year-on-year growth rate of turnover of fitness equipment products in 2020 Jingdong 618 shows that the turnover of fitness equipment products suitable for home use, such as Pilates, yoga rings and jump ropes, grew at a prominent rate. It can be seen that, under the influence of the epidemic, the increase in the public's free time, health awareness and the limitations of the activity space and many other factors, *** with the rapid growth of the demand for home fitness equipment.
--Fitness equipment sales revenue rebound
In 2019, China's training and fitness equipment sales revenue was 29.767 billion yuan, a year-on-year decline of 0.9% compared with 2018; in 2020, China's training and fitness equipment industry sales revenue was 39.519 billion yuan, a year-on-year growth of 32.8% from 2019. Under the influence of the epidemic, the growing demand for training and fitness equipment in the home fitness sector largely boosted market growth, and China's sales revenue of training and fitness equipment rebounded significantly in 2020. However, compared with developed countries, China's fitness population penetration rate is still at about 5% of the lower level, fitness equipment class sporting goods demand is still a large market space.
--Overseas demand for fitness equipment growth
From the point of view of overseas market demand, fitness equipment sporting goods export amount increased significantly. 2020, China's fitness equipment sporting goods export scale reached 6.606 billion U.S. dollars, an increase of 92.59%. From January to August 2021, China's fitness equipment sporting goods exports amounted to 6.35 billion U.S. dollars, which is close to the level of the whole year of 2020, and it can be seen that the overseas market is very interested in China's fitness equipment sporting goods. It can be seen that the overseas market demand for Chinese fitness equipment sporting goods is also larger.
Note: Data as of the end of August 2021.
-- The above data refer to China Sporting Goods Industry Development Outlook and Investment Strategy Planning Analysis Report
by Prospect Industry Research Institute.