Oman Fitness Services Market is Expected to Reach OMR 22 Million by 2022 Owing to Exceptional Growth in Number of Fitness Services Providers and Rise in Female Membership

Ken Research

GURUGRAM, India, November 21, 2018 /PRNewswire/ --

• It is expected that by 2022, the contribution of female membership revenue would grow at a CAGR of close to 16% due to rise in the number of women specific fitness centres in Oman. There share in the overall market would expand by 10%. Various new players would enter the market to tap the opportunity while many of the existing players would open women specific fitness centres.
• Various new national and international brands are coming up in the organized fitness sector. Going by this trend, it is expected that by 2022 the share of organized sector is going to increase by approximately 10%.

Growth in Oman Fitness Services market will be facilitated by the rising number of obese population, increasing demand for personal training, expanding geographical presence of major fitness centers, diversifying services portfolio and others. Increase in health awareness and lifestyle changes would supplement growth in the market. Many new services and new technologies are expected to be launched in the forecast period having a positive impact on demand for fitness services. The future share of female population in the Oman fitness service revenue is expected to increase substantially at a double digit CAGR. The scenario is improving for females because of the changing mindset and improving socio economic norms. More female participation is expected owing to rising lifestyle diseases and health concerns amongst women.

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Similarly, due to increasing number of organized centers, expansion of existing centers and entry of more number of international players in the market, the share of organized sector fitness centers in terms of total number of fitness centers will almost double by 2022E. Number of fitness services centers in unorganized sector, on the other hand, is expected to increase by more than 20% from 2017 to 2022E. The household consumption expenditure is expected to increase at a CAGR of more than 4% while population will grow at a CAGR of more than 5% during the next 5 years. The various market growth catalysts considered are entry of foreign players, increased focus towards services diversification, exploring various untapped regions, focus towards marketing and entry of more foreign players with already established brand image.