The global health and fitness industry extended its momentum over the past year, demonstrating its ability to respond quickly to market forces and rapidly changing consumer trends. Consider the challenges: energy shocks, growing AI disruption, tariff fears, declining consumer confidence, inflation spikes, and cutbacks in household spending. Any industry that maintains a growth trajectory in this environment is proving its fundamentals are strong.

Across the markets tracked in this report, memberships, revenue, and facility counts generally continued to rise in 2025, although growth varied substantially by region and market maturity. Headlines that defined the industry over the last year included:

● Investors remain bullish but selective. Mergers and acquisitions continued at a steady pace, and investor interest in proven models, particularly high-value/low-price (HVLP), increased, alongside growing investor confidence in the franchise expansion of proven brands.

● AI integration and wearables use accelerate. AI-connected ecosystems in operations and customer-facing services and communications kept pace with other industries. Wearables have continued to evolve from activity trackers into broader health platforms, monitoring sleep, heart health, stress, recovery, and other biomarkers.

● GLP-1 treatments emerge as a prime opportunity. Operators have been quick to welcome those using GLP-1 medications, while also partnering with traditional healthcare practitioners and telehealth companies to provide access to GLP-1 prescriptions. Strongly supporting the trend is HFA’s white paper, From Weight Loss to Lasting Value: Structured Exercise and the Economics of GLP-1 Therapy, which showed that structured exercise can make GLP-1 treatments more sustainable, more clinically effective, and more economically valuable.

● Fitness spending remains resilient despite affordability concerns. Consumers are increasingly forced to reduce discretionary spending and are choosing to retain their gym memberships.

● Budget models continue to dominate the market. Investor appetite remains strong as EōS Fitness was acquired for a reported US$1.5 billion, including debt, while Crunch Fitness was recapitalized at a valuation above US$1.5 billion. Meanwhile, the evolving HVLP 3.0 model is broadening the budget-club offering with additional amenities while maintaining low price points.

● Pilates expands into other fitness models. Big-box brands, including Planet Fitness, Snap, LA Fitness, Crunch Fitness, and Amped Fitness, have added Pilates reformers and programming. In addition, brands like Les Mills International and YogaSix now feature Pilates-inspired class formats as part of their services.

● Social competition is becoming a major driver of engagement and growth, spanning fitness racing, pickleball, and padel. HYROX continues to lead the red-hot fitness-racing category, while major brands such as Life Time and F45 have launched proprietary competitions of their own. Meanwhile, pickleball and padel continue to expand rapidly.