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%.

Market Synopsis

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.

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.

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.