Asia-Pacific’s Physical Activity Market Now $240 Billion – To Reach $373.5 Billion by 2023
The first major study on the global fitness economy was released today at the 13th annual Global Wellness Summit, being held this week in Singapore. Global Wellness Institute Senior Research Fellows Ophelia Yeung and Katherine Johnston presented key findings in the 180-page report, Move To Be Well: The Global Economy of Physical Activity, to Summit delegates from 50-plus countries. According to the new research, the physical activity market is valued at $828 billion; with this new data, wellness jumps to a $4.5 trillion global market.
The comprehensive study shows physical activity economy will surpass $1.1 trillion by 2023. Asia-Pacific will overtake North America as the largest market, accounting for an eye-opening 40 percent of all global growth through 2023.
The research details consumer spend for six sectors of the physical activity market at global, regional and national levels; participation rates for 150 nations; emerging physical activity trends across countries; and market growth projection.