Physical Activity is an $828 Billion Market

Physical Activity is an $828 Billion Market

Set to reach $1.1 trillion+ by 2023

Posted on 09.10.2020

Global Wellness Institute releases first-ever research report on the six-sector global physical activity economy, including the fitness, sports & active recreation, mindful movement, equipment, apparel/footwear and technology markets. New data pushes wellness to a $4.5 trillion industry.

Singapore – October 15, 2019 – The Global Wellness Institute™ (GWI), a nonprofit research and educational resource for the world wellness industry, today released its major research report for 2019: “Move To Be Well: The Global Economy of Physical Activity.” In 2018, the GWI found that the fitness/mind-body market was worth $595 billion, and this new research broadens the scope of that segment to the “physical activity economy,” which is now valued at $828.2 billion globally, and includes the sports and active recreation, fitness, and mindful movement core segments—along with the supporting markets of equipment and supplies, apparel and footwear, and technology.

With this new data, wellness jumps to a $4.5 trillion global market.

ACCESS THE FULL REPORT HERE

“This new global data stream is meant to encourage business leaders and policymakers to see physical activity as a comprehensive sector, and one that’s critical in supporting lifestyles that are crucial to good health,” noted Ophelia Yeung, GWI senior researcher and report co-author. “Yes, physical activity has become a massive $828 billion commercial segment, but the conundrum is that sedentary lives, obesity and chronic disease are all exploding right alongside the fitness market’s explosive growth.”

Highest Recreational Physical Activity Participation Rates = Happiest Nations

Market size and the highest rates of recreational physical activity participation don’t often correlate, and the report looks at what percentage of the population of 150 nations regularly take part in sports and active recreation, fitness or mindful movement. Australia and Taiwan lead the world with 84 percent recreational physical activity participation rates.

And when you compare the happiest nations from the 2019 World Happiness Report to the countries with the highest rates for recreational physical activity, there is very striking overlap: Fourteen nations make both top-20 lists, with Nordic countries such as Norway, Iceland, Sweden, Finland and Denmark all ranking in the top 10 for “happiest” and most physically active. The movement and “mood” connection seems powerful. Read More

Source
Global Wellness Institute

 

 

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