Pilates And Yoga Studios Market Report
Pilates and Yoga Studios Market by Activity Type (Yoga Classes, Pilates Classes, Pilates & Yoga Accreditation Training, and Merchandise Sales), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Pilates and Yoga Studios Market Analysis
The global pilates and yoga studios market is anticipated to garner $269,301.8 million in the 2021–2028 timeframe, growing from $127,698.8 million in 2020 at a healthy CAGR of 10.0%.
Business expansion to boost the company presence and adding new forms of exercises such as flexibility training, and government initiatives to promote active & healthy lifestyle are anticipated to drive the growth of the pilates and yoga studios market.
However, the presence of alternative fitness platforms, such as gyms, and increase in various sports activities is anticipated to restrain the market growth.
According to the regional analysis of the market, the Asia-Pacific pilates and yoga studios market is anticipated to grow at a CAGR of 10.9% by generating a revenue of $89,790.9 million during the review period.
Pilates and Yoga Studios Overview
Pilates is a series of about 500 exercises inspired by yoga, ballet, and calisthenic, whereas yoga is built around three key elements namely exercise, meditation, and breathing. Pilates and yoga studios include a room, building, or any other place that is used for conducting pilates and yoga training classes.
Impact Analysis of COVID-19 on the Global Pilates and Yoga Studios Market
The novel coronavirus pandemic had a devastating effect on several industries and the pilates and yoga studios market also experienced a negative impact owing to unprecedented lockdowns, ban on large gatherings, and social distancing norms. Pilates and yoga studios were shut down due to the pandemic and resulted in huge revenue losses. In addition, the closure of pilates and yoga studios led to unemployment and some of the studios closed permanently. The studio owners even faced difficulty in paying the bills, rent, electricity, and salary of the professional trainers. Many pilates and yoga studios run on a small margin, and restriction imposed by the pandemic has posed great challenge on their existence. The financial uncertainties laid down by the pandemic has forced many people to opt for home exercises rather than spending on pilates and yoga membership fees. Even now there is no clarity as to when people will be able to resume their normal routine exercises. All these factors have negatively impacted the pilates and yoga studios during the pandemic.
The hybrid model involves online or in-person workout that offers on-demand and livestreaming of group workouts. The home workout sessions have become a new normal due to pandemic restrictions and many pilates and yoga studios have started virtual fitness subscriptions. For instance, in December 2020, Apple, the American multinational company started rolling out virtual fitness subscription service called Fitness+ built for Apple watch and it is compatible with iPhone, Apple TV, and iPads. As ‘work from home’ has become the new normal, the ‘workout from home’ made possible by various pilates and yoga studios has gained huge popularity. For instance, Omnify, the global SaaS platform for small services, has offered Zoom integration to various small and large fitness companies to facilitate the booking of live exercise sessions which has greatly supported the pilates and yoga studios market. Such initiatives are estimated to boost the pilates and yoga studios market growth during the forecast period.
Health Benefits Associated with Pilates and Yoga to Drive the Market Growth
The global pilates and yoga studios market is witnessing rapid growth due to growing awareness regarding the benefits offered by pilates and yoga. Pilates improves the body posture and flexibility, increases muscle strength, tones the muscles, and provides relaxation to your shoulders, neck, and upper back. In addition, pilates improves alertness, concentration, body awareness, and helps in stress management by providing relaxation. Pilates involves a number of exercises performed with proper breathing techniques, and abdominal muscle control. There are majorly two types of pilates namely mat-based pilates and equipment-based pilates. Both these types improve the body posture and help in balancing and co-ordination. On the other hand, yoga exercises comprise of different asanas or yoga postures that boost the functioning of cardiovascular system by normalizing the blood pressure levels. It also enhances the functioning of digestive system by improving blood circulation, boosting musculoskeletal strength, improving the body structure, and preventing osteoporosis. All these benefits are estimated to drive the growth of the pilates and yoga studios market during the analysis timeframe.
To know more about global pilates and yoga studios market drivers, get in touch with our analysts here.
Alternative Fitness Platforms to Restrain the Market Growth
The growing popularity of various fitness platforms such as Zumba, gyms, martial arts, kick boxing, and increase in meditation centers are estimated to restrain the growth of pilates and yoga studios during the forecast period. In addition, the discount packages and attractive offers offered by gyms are estimated to hamper the market growth.
Technological Advancements in Pilates and Yoga to Create Enormous Investment Opportunities
The pandemic has brought drastic changes in the event industry due to a ban on social gatherings, travel restrictions, and others. However, the pilates and yoga studios facilitating the digital classes are growing in popularity. For instance, quick online pilates and yoga sessions before work or during lunch or after work is an excellent way to squeeze fitness in your busy work schedule and to relieve work stress. Starting a YouTube channel that can show how pilates and yoga can become part of your home workout or offering complete yoga and pilates session online and selling it as membership can help in generating revenue. The introduction of High Intensity Interval Training (HIIT) combo classes that combine HIIT and traditional workouts is a new trend. These aspects are estimated to generate huge growth opportunities in the pilates and yoga studios market during the forecast period.
To know more about global pilates and yoga studios market opportunities, get in touch with our analysts here.
Pilates and Yoga Studios Market
By Activity Type
Source: Research Dive Analysis
The yoga classes sub-segment is anticipated to have a dominant market share and generate a revenue of $144,293.7 million by 2028, growing from $63,942.2 million in 2020. The growing popularity of yoga classes is owing to excellent health benefits offered by yoga. Yoga helps in improving the body strength, maintaining the balance and flexibility. Yoga helps in relieving the back pain and can ease arthritis. Regular yoga practice reduces the stress levels and body inflammation that promotes healthier heart. Also, it helps in controlling the blood pressure and managing the weight. Yoga relaxes your body and improves the quality of your sleep. All these benefits are estimated to drive the demand for yoga sub-segment during the analysis period.
Pilates and Yoga Studios Market
Source: Research Dive Analysis
The Market for Pilates and Yoga Studios in Asia-Pacific to be the Most Dominant and Fastest Growing
The pilates and yoga studios market in Asia-Pacific accounted for $40,019.7 million in 2020 and it is projected to register a revenue of $89,790.9 million by 2028. The growing awareness regarding spiritual and therapeutic benefits offered by yoga is estimated to drive the market growth. In addition, there are various yoga schools in India and China in which the students can learn yoga from the yoga gurus. The popularity of pilates is also growing in the countries such as India and China. For instance, The Pilates and Altitude Training Studio in Santacruz West located in Mumbai is one of the most popular studios even among the Bollywood celebrities including Kangana Ranaut, Kareena Kapoor, Sara Ali Khan, and many more. All these factors are estimated to drive the growth of pilates and yoga studios in Asia-Pacific during the forecast period.
Competitive Scenario in the Global Pilates and Yoga Studios Market
Acquisition, business expansions, and technological advancements are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading pilates and yoga studios market players are Alona Pilates, Body & Soul Yoga Club, Authentic Pilates Ltd., Fitness Firm Yoga and Pilates Studio, Core Pilates, Fitness Unlimited, M Pilates+Yoga, Flex Studios, Inc., Pilates Plus, and Core Studio Pilates & Yoga, LLC
Porter’s Five Forces Analysis for the Global Pilates and Yoga Studios Market:
- Bargaining Power of Suppliers: Most of the companies operating in pilates and yoga studios are focusing on incorporating latest technologies such as digitization, business expansion to increase the company’s presence and attract large number of customers. Hence, the suppliers have very low bargaining power as there is not much supplier involvement in the pilates and yoga studios.
Thus, the bargaining power suppliers is low.
- Bargaining Power of Buyers: Buyers have moderate bargaining power as number of buyers is high and companies are focusing on strategies such as adoption of new technologies. Also, the health benefits offered by yoga and pilates at budget-friendly price with attractive packages significantly reduces the buyers bargaining power. Although, they can club 2 or 3 member and form a group to grab more discounts on the membership fees.
Thus, the bargaining power of the buyers is moderate.
- Threat of New Entrants: The companies entering pilates and yoga studios are using new approaches such as early bird discounts, excellent infrastructure, trainer support, and many others to grab the customer attention.
Thus, the threat of the new entrants is high.
- Threat of Substitutes: The availability of substitute fitness platforms such as gym, dance forms including Zumba, aerobics, and others increases the threat from substitution.
Thus, the threat of substitutes is moderate.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is high as there are large number of pilates and yoga studios in the market and they are using various marketing strategies such as offering good discounts on membership fees, providing some extra free months with 1 year subscription, and others.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Activity Type
Key Companies Profiled
Q1. What is the size of the global pilates and yoga studios market?
A. The size of the global pilates and yoga studios market was over $127,698.8 in 2020 and is projected to reach $269,301.8 million by 2028.
Q2. Which are the major companies in the pilates and yoga studios market?
A. Alona Pilates, Body & Soul Yoga Club, and Authentic Pilates Ltd. are some of the major players operating in the pilates and yoga studios market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific pilates and yoga studios market?
A. Asia Pacific pilates and yoga studios market is anticipated to grow at 10.9% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Acquisitions, partnerships, and technological advancements are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Alona Pilates, Body & Soul Yoga Club, Authentic Pilates Ltd. are investing more on R&D activities for developing new technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.Activity Type trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.Pilates and Yoga Studios Market, by Activity Type
4.1.1.Market size and forecast, by region, 2020-2028
4.1.2.Comparative market share analysis, 2020 & 2028
4.2.1.Market size and forecast, by region, 2020-2028
4.2.2.Comparative market share analysis, 2020 & 2028
4.3.Pilates and Yoga Accreditation Training
4.3.1.Market size and forecast, by region, 2020-2028
4.3.2.Comparative market share analysis, 2020 & 2028
4.4.1.Market size and forecast, by region, 2020-2028
4.4.2.Comparative market share analysis, 2020 & 2028
5.Pilates and Yoga Studios Market, by Region
5.1.1.Market size and forecast, by Activity Type, 2020-2028
5.1.2.Market size and forecast, by country, 2020-2028
5.1.3.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
5.2.1.Market size and forecast, by Activity Type, 2020-2028
5.2.2.Market size and forecast, by country, 2020-2028
5.2.3.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
5.2.9.Rest of Europe
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
5.3.1.Market size and forecast, by Activity Type, 2020-2028
5.3.2.Market size and forecast, by country, 2020-2028
5.3.3.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
5.3.9.Rest of Asia Pacific
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
5.4.1.Market size and forecast, by Activity Type, 2020-2028
5.4.2.Market size and forecast, by country, 2020-2028
5.4.3.Comparative market share analysis, 2020 & 2028
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
22.214.171.124.Market size and forecast, by Activity Type, 2020-2028
126.96.36.199.Comparative market share analysis, 2020 & 2028
188.8.131.52.Market size and forecast, by Activity Type, 2020-2028
184.108.40.206.Comparative market share analysis, 2020 & 2028
5.4.7.Rest of LAMEA
220.127.116.11.Market size and forecast, by Activity Type, 2020-2028
18.104.22.168.Comparative market share analysis, 2020 & 2028
6.1.4.Recent strategic moves & developments
6.2.Body & Soul Yoga Club
6.2.4.Recent strategic moves & developments
6.3.Authentic Pilates Ltd.
6.3.4.Recent strategic moves & developments
6.4.Fitness Firm Yoga and Pilates Studio
6.4.4.Recent strategic moves & developments
6.5.4.Recent strategic moves & developments
6.6.4.Recent strategic moves & developments
6.7.4.Recent strategic moves & developments
6.8.Flex Studios, Inc.
6.8.4.Recent strategic moves & developments
6.9.4.Recent strategic moves & developments
6.10.Core Studio Pilates & Yoga, LLC
6.10.4.Recent strategic moves & developments
A combination of workouts inspired by yoga, calisthenics, and ballet forms the base for pilates which has over 500 exercises. On the other hand, yoga works on three primary sections, which are – breathing, meditation, and exercise. Both of these forms of workout are taught and practiced in specific studios which need to be spacious and open.
Covid-19 Impact on the Global Pilates and Yoga Studios Market
The COVID-19 virus brought with it tremendous losses for several businesses due to the restrictions placed by countries to contain it. Pilates and yoga studios have people of all groups coming in and this led to it being one of the first activities to be banned due to social distancing norms in place. This resulted many studious facing financial crisis of large proportions, which also made it difficult for the studios to pay the utility bills such as the cost of electricity, rents, trainer salaries, and more. Additionally, some of the small budget pilates and yoga studios had to permanently shut down their centres. Also, many of them who normally relied on the studios started preferring home workouts instead of having to pay for membership fees. This resulted in massive loss for the market.
But over time, people decided to adapt to the situation and many key players decided to come up with an advancement to make things convenient. They came up with the hybrid model that would help people to work out with their studio trainers at home. This involved memberships or subscriptions of virtual classes that could be done anytime the person wants. These virtual subscriptions have hence helped people stay healthy without having to step out of their homes. This new approach is predicted to help in the growth of the market in the forecast period.
Key Developments in the Industry
Several industries are working on building up their presence in the market while also involving in research which is a part of the efforts. The innovative methodologies by organizations of creating better products are also used, keeping in mind satisfaction of customers or companies in terms of quality.
For instance, in November 2020, Restored Motion and Pilates, a pilates studio in Houston decided to bring forth an innovative idea. They decided to start a new venture named DUO Coffee and Pilates, which will allow people to fit in their morning workout along with their favourite coffee as well. The studio is expected to have six reformer machines and those who choose to attend, can pick any type of workout – Yoga or Pilates as per their convenience.
Forecast Analysis of the Global Pilates and Yoga Studios Market
According to a recently published report by Research Dive, the global pilates and yoga studios market is expected to witness a rise in revenue from $127,698.8 million in 2020 to over $269,301.8 million by 2028 at a steady CAGR of 10.0% from 2021-2028.
Both yoga and pilates are forms of workout that help build up the body in a calming manner. Pilates is divided into two variants – mat based and equipments. Both of these forms work primarily in enhancing muscle strength, improving flexibility, relaxing the muscles in the back, neck, and shoulder. It also keeps a person to reduce stress levels as well. These workouts focus primarily on breathing and the ability to build up the abdominal muscles. Yoga on the other hand uses ‘asanas’ that hold extensive health benefits such as helping to stabilize blood pressure, which in then enhances the cardiovascular systems functioning, regulating blood circulation, working on keeping the digestive system stable. These workouts and the health benefits associated with them areprimary reasons for the growth of the market. However, other forms of active workouts such as kickboxing, zumba, martial arts are predicted to be a restraining factor for the market in the forecast period.
One of the best ways to implement workout is to push a quick yoga or pilates session every day. But, many people tend to find it difficult to balance exercise and work. This has led to many instructors coming with online sessions or YouTube channels to help people implement a workout as per their convenience. This is predicted to further help in creating an opportunity for the market growth.
Additionally, several key players such as Body and Soul Yoga Club, Fitness Firm Yoga and Pilates Studio, Fitness Unlimited, Flex Studios, Inc, Core Studios Pilates and Yoga LLC, Alona Pilates, Authentic Pilates Ltd, Core Pilates, M Pilates+Yoga, and Pilates Plus have been working on building up on various techniques and methods to work on new products, mergers, and other initiatives to help in the growth of the market.