Canada Fitness Equipment Market

Canada Fitness Equipment Market Overview:

The Canada fitness equipment market size reached US$ 231 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 391 Million by 2032, exhibiting a growth rate (CAGR) of 6.00% during 2024-2032. The market is primarily driven by rising obesity rates, increased health consciousness, supporting government physical activity efforts for physical activities, rising disposable incomes, and a shift toward home fitness solutions across the country.

Canada Fitness Equipment Market Trends:

Rising Obesity Rates

The increased prevalence of obesity among Canadians is escalating the demand for workout equipment. For instance, the Canadian Community Health Survey in 2022 revealed that almost one-third of Canadians aged 18 and above (30%) were obese. This is an increase from slightly more than one-fifth (21%) observed in 2003. Obesity was equally widespread among men and women in 2022, accounting for 30% of the population. Also, adults aged 18 to 34 had the lowest obesity rate (25%), while those aged 50 to 64 had the highest (34%). As reported in 2022, these figures reveal a substantial tendency of increasing obesity prevalence among older Canadians than younger age groups. This expansion is mostly driven by an increased understanding of the health dangers connected with obesity, such as heart disease, diabetes, and hypertension. As more individuals recognize the need to live a healthier lifestyle to treat or avoid chronic diseases, there has been a definite trend toward incorporating regular physical activity into daily activities, thus escalating product demand across the region.

Supportive Government Initiatives for Physical Activity

The Canadian government's active promotion of physical exercise through initiatives like ParticipACTION reveals a concerted effort to counteract sedentary lifestyles and improve national health. For instance, in the 2018 budget, ParticipACTION was allocated $25 Million over five years. This funding has helped to modify attitudes and behaviors around physical activity. ParticipACTION has effectively promoted inclusive physical activities via ongoing and new initiatives, with verified outcomes. This program has had a significant influence on Canadians, with 68% citing physical activity as a daily objective, indicating a beneficial impact on national health. Furthermore, ParticipACTION seeks a minimum annual investment of $10 Million over the following five years, which aligns with the final year of their financing deal. This campaign raises awareness about the advantages of regular exercise while directly benefiting the fitness equipment sector by raising public interest and involvement in physical activities. Hence, the support of the government and funding for such initiatives encourage municipalities and people throughout Canada to invest in fitness equipment and facilities across the region.

Canada Fitness Equipment Market News:

• On 24 October 2023, Peloton launched Peloton Row in Canada. Customers may purchase it in Peloton shops, in Canada, or online. According to a recent Peloton survey of more than 2,200 Canadians, 52% are interested in adopting indoor rowing machines into their fitness regimens. This feedback motivated Peloton to launch Peloton Row to supplement its existing fitness equipment selection in Canada, which includes the Peloton Bike, Bike+, Guide, and Tread.
• On 13 October 2023, DeerRun, a leading supplier of fitness equipment, enthusiastically announced its entry into the Canadian market. DeerRun provides a wide variety of treadmills, including smart, foldable, 2-in-1, and under-desk versions, demonstrating their dedication to providing innovative and high-quality exercise solutions to Canadian fitness fans.
   

Canada Fitness Equipment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, price point, and end user.

Type Insights:

• Cardiovascular Training Equipment
  • Treadmills
  • Stationary Cycles
  • Elliptical
  • Others
• Strength Training Equipment
  • Dumbbells
  • Weight Plates
  • Hydraulic Equipment
  • Others
• Others
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes cardiovascular training equipment (treadmills, stationary cycles, elliptical, and others) strength training equipment (dumbbells, weight plates, hydraulic equipment, and others), and others.

Price Point Insights:

• Standard
• Premium/Luxury
   

 A detailed breakup and analysis of the market based on the price point have also been provided in the report. This includes standard and premium/luxury.

End User Insights:

• Home Consumer
  • Home
  • Apartment
• Health Clubs/Gym
• Others
   

 A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes home consumer, (home and apartment) health clubs/gym, and others.

Regional Insights:

• Ontario
• Quebec
• Alberta
• British Columbia
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia, Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Canada Fitness Equipment Market Report Coverage:

Key Questions Answered in This Report:

• How has the Canada fitness equipment market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Canada fitness equipment market?
• What is the breakup of the Canada fitness equipment market on the basis of type?
• What is the breakup of the Canada fitness equipment market on the basis of price point?
• What is the breakup of the Canada fitness equipment market on the basis of end user?
• What are the various stages in the value chain of the Canada fitness equipment market? 
• What are the key driving factors and challenges in the Canada fitness equipment?
• What is the structure of the Canada fitness equipment market and who are the key players?
• What is the degree of competition in the Canada fitness equipment market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Canada fitness equipment market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Canada fitness equipment market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Canada fitness equipment industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.