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The COVID-19 sweeping the world has brought huge turbulence to the fitness industry. At the moment when gyms have declared bankruptcy, fitness equipment manufacturers have ushered in an unprecedented surge in demand due to the trend of home fitness.
While fitness tech has been one of the fastest-growing sectors in the world since 2016, the pandemic might just have triggered the sharpest growth in the industry yet. Digital fitness trends will shape the next decade. Fitness providers were also beginning to identify the demand for virtual training and recognize the potential of online services which are giving rise to an era of technology-driven fitness.
The Spanish government promotes bicycle culture and spares no effort. The rapid growth of bicycle users has also led to the growth of related enterprises in the bicycle industry. Among them, electric bicycles are the most popular, with sales increasing by 63.6% and sales of more than 40,000 units.
The France sports climate is booming. More than 58% of residents of the Greater Paris area exercise at least once a week for at least 30 minutes each time. Among them, indoor sports such as yoga or Pilates accounted for 13%, the largest proportion, followed by walking 12%, jogging 8%, swimming, cycling, muscle training, and other sports activities. Paris has ample public space where people can exercise without spending money, but there are also various specialized paid fitness centers in the city.
The COVID-19 epidemic has changed the exercise habits of Canadians, driving the upsurge of home fitness and outdoor sports. Business opportunities for home fitness equipment and outdoor sports products have emerged, including for home fitness equipment, bicycles, golf, camping, skiing products, and other hot products. Online sales growth has been amazing. The sports climate in Canada is prosperous, chain fitness channels are expanding rapidly, various sports equipment and supplies are in great demand, and the products are more diversified.
In 2019, the overall North American sports market revenue was approximately US$73 billion, making it one of the largest sports markets in the world. It is expected to grow to US$83.1 billion by 2023. The sports market is growing rapidly, but over the past few decades, it has become a mature industry.
The top five sports most loved by Australians include walking, gymnasium (containing aerobic dance), jogging and running, swimming and diving, and cycling. All have changed as a result of the pandemic.
Affected by the COVID-19 epidemic, the total sales of the sports goods market from February to June 2020 was 837.8 billion won, a 40% decrease compared to the same period in 2019, and the number of private sports industry companies also decreased by 28.6%, 2020. South Korea’s overall sports market was a year of decline.
Since 2019, Japan has hosted international sports events such as the World Rugby Games and the Tokyo Olympics, which indirectly sparked an upsurge in sports and fitness for all age groups. According to a survey report on the Japanese sports market, the size of the sports market in 2019 was ¥2250.4 billion.
China's sports market continues to grow. The total market size in 2019 reached RMB 2.95 trillion, and had an annual growth rate of 10.9%. Among them, the sports service market reached 1,493-billion-yuan, accounting for 50.6%, and the sports goods market reached 1,361.4-billion-yuan, accounting for 46.2%. The China sports market will continue to expand at an accelerated pace in the next few years. By 2025, the scale of China's sports market will exceed 5 trillion yuan, and through 5G, Internet of Things, big data, and artificial intelligence technologies, boring exercises will be transformed into leisure activities.
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