Vietnam Fitness Services Market Outlook to 2023

By Subscription Period, By Organized and Unorganized, By Revenue Streams (Membership Fee and Personal Trainer Fee)



Product Code:KR807

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Published on

June 2019

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Table of Content

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About the Report

About the Report

The report titled "Vietnam Fitness Services Market Outlook to 2023 - By Subscription Period, By Organized and Unorganized, By Revenue Streams (Membership Fee and Personal Trainer Fee)" provides a comprehensive analysis of fitness services market of Vietnam. The report covers various aspects including market overview, business cycle, ecosystem, issues and challenges, trends and developments, SWOT analysis, competitive landscape and government regulations. The report concludes with the market projection and analyst recommendations highlighting the major opportunities and cautions.

Market Overview
The Vietnam Fitness Services industry revenue has increased at a positive double digit CAGR during 2013-2018. The market is placed is at growing stage with high potential in future expansion in both urban and sub urban areas. The total addressable market in Vietnam for fitness services has been expanding. Various factors supporting growth include heavy expenditure by companies towards brand promotion activities & marketing including television advertisements, celebrity promotions, newspaper advertisement so as to maintain fitness centers visibility, increasing health consciousness in population especially within age category of (15-64) years. Increasing disposable income, rising awareness regarding obesity and to overcome health issues such as diabetes, hypertension and cardiovascular diseases have been the major factors which have driven the demand for fitness services centers in Vietnam.

Market Segmentations
By Market Structure: Unorganized fitness centers strongly dominated the Vietnam fitness services market. Unorganized fitness centers contribute more than half of revenue as of 2018. Whereas, organized fitness services centers holds a small share in terms of number of fitness outlets as compared to unorganized outlets. Organized fitness centers have their major presence in urban areas only, whereas unorganized fitness centers have their presence in overall market which helps in dominating the sector.
By Subscription Period: Majority of customer prefers to purchase yearly and quarterly membership largely due to better discount. People trying new organized fitness gyms also generally subscribes for quarterly subscription to test out every services offered by the fitness center. Whereas, single month memberships and half yearly subscription accounted equal revenue share in Vietnam fitness services market in the year 2018.
By Number of Gyms: Organized fitness centers has been largely located in urban areas as they are mostly preferred by high income group people and has high membership fees which has generally low demand in sub urban areas of Vietnam. Ho Chi Minh City has the maximum number of fitness service centers followed by Ha Noi while, unorganized fitness service centers has been majorly dominating in most of the parts of the country including urban as well as sub urban areas.
By Number of Gym Members: Organized fitness centers cater to a small share of audience as they target the higher income group living in the urban areas. Therefore there are more members in the unorganized fitness centers.
By Revenue Stream: Fitness service centers majorly have two sources of revenue generation such membership fees and fees charged by personal trainers. In fitness service centers, majority of the revenue has been generated through the membership fees charged from the customers as it holds more than half share in revenue generation in fitness services market. Revenue from personal trainer fees has a smaller share in the market.

Competitive Landscape
Competition in the Vietnam fitness services market has been highly fragmented for the overall market. The organized fitness services market in Vietnam is concentrated. California Fitness & Yoga centers accounted for highest revenue share in organized fitness services market followed by elite fitness, Fit24 and others. These market players compete on the basis of Membership fees, Quality of Services, Expertise and Value Added Services. Personal trainers have been another prime factor for competition between organized and unorganized fitness centers.

Market Future Outlook
Market has been anticipated to showcase a substantial growth in double digits during the forecast period (2018-2023E). Growth during this period is expected to be supported by increase in the number of new entrants in the market, growth in household disposable income of the people, increase in population under the age bracket 15 - 64 years and additional services offered by the fitness service centers in the market.

Key Segments Covered
By Type of Market (Number of Gym Members and Number of Gyms)
Organized Market
Unorganized Market
By Source of Revenue
Membership Fee
Personal Training
By Number of Gyms by Subscription Fee
VND 0-5 Million
VND 5-12 Million
Above VND 12 Million
By Subscription Period
1 Month
3 Month
6 Month
12 Month

Key Target Audience
Organized and Unorganized Fitness Centres
Fitness Equipment Manufacturers
Sports Authority
Private Equity Firm
Fitness Training and Trainers Associations

Time Period Captured in the Report
Historical Period: 2013-2018
Forecast Period: 2019-2023

Major Fitness Centres Covered
California Fitness and Yoga Centre
Elite Fitness
AKC Fitness
MMA Gym Fitness Centre
Nutrifort Fitness
Advance Fitness
Yoga Center – VYOGA World 3/2
Star Fitness HCM
Diamond Fitness Center
Times Plus Fitness and Yoga
Body Fit Fitness and Yoga
Platinum Fitness and Kinesis
VShape Fitness & Yoga Center
Swequity Ultimate Fitness
Thanh Hai Gym
N Club
Vital fitness and yoga center
MD Fitness
Lykos Kickfitness Center
N-shape Fitness
KBE Fitness
AE Fitness
Universal Yoga
New Fitness and Yoga
Fitness and Yoga Centre Igym
Olympic Nha Trang Gym & Fitness
CLB gym T&V Fitness
Hanoi Kendo Club
Teekiu Fitness
Body SHAPE Gym

Key Topics Covered in the Report
Executive Summary
Research Methodology
Vietnam fitness Services Market Genesis & Overview
Vietnam fitness Services Market Ecosystem
Vietnam fitness Services Market Snapshot on Personal Trainer
Vietnam fitness Services Market Size
Vietnam fitness Services Market Segmentation by Market Structure (Organized and Unorganized),
Vietnam Fitness Services Market Segmentation by Subscription Period (1 month, 3 months, 6 months and 1 year),
Vietnam fitness Services Market Segmentation by Revenue Stream (Membership Fee and Personal Trainer Fee)
Vietnam fitness Services Market Segmentation by Subscription Fee (VND 0-5 Million, VND 5-12 Million and Above VND 12 Million)
Vietnam fitness Services Market SWOT analysis
Vietnam fitness Services Market Competition Scenario
Company Profiles of Major Fitness Clubs in Vietnam
Vietnam fitness Services Future Outlook
Snapshot on Other Fitness Services Market of Vietnam
Vietnam fitness Services Market Analyst Recommendations



By Type of Market (Number of Gym Members and Number of Gyms) (Organized Market and Unorganized Market), By Source of Revenue (Membership Fee, Personal Training), By Number of Gyms by Subscription Fee (VND 0-5 Million, VND 5-12 Million and Above VND 12 Million ), By Subscription Period (1 Month, 3 Month, 6 Month and 12 Month)


California Fitness and Yoga Centre, Elite Fitness, Fit24, AKC Fitness, MMA Gym Fitness Centre, Citigym , Curves , Nutrifort Fitness , Advance Fitness , Yoga Center – VYOGA World 3/2, Star Fitness HCM, Diamond Fitness Center, Times Plus Fitness and Yoga, Body Fit Fitness and Yoga, Platinum Fitness and Kinesis, VShape Fitness & Yoga Center, Swequity Ultimate Fitness, Thanh Hai Gym, N Club, Vital fitness and yoga center, MD Fitness, Lykos Kickfitness Center, N-shape Fitness, KBE Fitness, AE Fitness, Universal Yoga, New Fitness and Yoga, Fitness and Yoga Centre Igym, Olympic Nha Trang Gym & Fitness, CLB gym T&V Fitness, Hanoi Kendo Club, Teekiu Fitness, Body SHAPE Gym

Table of Contents

Table of Contents

1. Executive Summary

2. Research Methodology

2.1. Market Definitions
2.2. Abbreviations
2.3. Consolidated Research Approach
2.4. Variables (Dependent and Independent)
2.5. Correlation Matrix
2.6. Regression Matrix
2.7. Limitations

3. Ecosystem - Supply Side

4. Overview and Genesis

4.1. Market Overview
4.2. Business Cycle

5. Market Size, (2013-2018)

5.1. By Revenue, Number of Members and Number of Fitness Centers, 2013-2018

6. Market Segmentation

6.1. By Market Structure (Organized and Unorganized) and By Source of Revenue (Membership Fee and Personal Trainer), 2018
6.2. By Number of gyms and gym members (Organized and Unorganized), 2018
6.3. By Subscription fee (0-5 Million VND, 5-12 Million VND and above 12 Million VND), 2018
6.4. By Subscription Period (1 Month, 3 Months, 6 Months and 12 Months), 2018

7. Snapshot on Personal Training Market

7.1. Personal Training Market in Vietnam (CPD, Number of Personal Trainers, Personal Trainer Demand, Freelancing Personal Training)
7.2. Certificate Course for Trainers
7.3. Cross Comparison on Personal Trainer (Number of Personal Trainers, Number of Sessions taken in a day and Fees charged per day in Organized Fitness Centers), 2018

8. Investment Model to set up a Fitness Center in Vietnam

9. Government Regulations

10. Trends and Developments

11. Issues and Challenges

12.1. Decision Making Parameter to Join a Fitness Center in Vietnam
12.2 Major Pain Points Faced by Customers in a Fitness Center

13. Snapshot of Other Fitness Services in Vietnam (Zumba, Pilates, Power Yoga and Martial Arts)

14. SWOT Analysis of Vietnam Fitness Services Market

15. Competitive Landscape in Vietnam Fitness Market

15.1 Competitive Scenario (Market Structure, Major Players, Competition Parameters)
15.2. Market Share of Major Players – By Revenue, 2018
15.3. Market Share of Major Players - By Number of Membership, 2018
15.4. Market Share of Major Players - By Number of Centers, 2018
15.5. Cross Comparison of Major Players (Number Of Centers, Average Member per Center, Total Number Of Members, Annual Fee, Monthly Fee, Number Of Personal Trainer (PT) per Centre, Total Personal Trainers, Cost Of One PT Session, Daily Number of PT Sessions)
15.6. Heat Map of Major Organized Fitness Centers (Yoga, Pilates, Zumba, Aerobics, Body Pump, Body Attack, Kick Boxing, Martial Arts, Spinning, Sauna, Locker Rooms, AB Blaster, Boot Camp, Salsa, Juice Bar, Gym Floor, Weight Area, Group Exercise, Personal Training, Swimming Pool, Members Lounge, Tennis, RPM, SPA/Jacuzzi, Virtual Exercise, Fat Analyzer, Steam Room, Salons and Gym Gears)

16. Company Profile of Major Players (Company Overview, Major Services, Marketing Strategies, Business Strategies, Subscription Fees, Number of Personal Trainers, Number of Members, USP and various other parameters)

16.1. California Fitness and Yoga Center
16.2. Elite Fitness
16.3. Fit24
16.4. AKC Fitness
16.5. MMA Gym Fitness Center
16.6. Citigym
16.7. Curves
16.8. Nutrifort Fitness
16.9. Advance Fitness and Gym
16.10. Yoga Center – Vyoga world 3/2

17. Future Outlook and Projections, (2018-2023E)

17.1. By Revenue, Number of Members and Number of Fitness Centers, 2018-2023E
17.2. By Market Structure (Organized and Unorganized) and By Source of Revenue (Membership Fee and Personal Trainer), 2023E
17.3. By Number of Gyms and Gym Members (Organized and Unorganized), 2023E

18. Snapshot of Vietnam Fitness Equipment

19. Analyst Recommendations – Success Factors

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