According to a recently compiled study of XploreMR, revenues from the Pilates equipment market in 2018 closed in on US$ 250 Mn. Pilates equipment sales are expected to show an unabated growth in light of their technical benefits, rigorous nature and robust reputation as a rehabilitation tool. Clinical studies conducted by reputed health institutes allude benefits of Pilates equipment in effective outcomes for individuals, particularly in reducing disability and pain.
According to the study, institutional buyers continue to account for leading shares of the Pilates equipment market. The preference for Pilates clubs among enthusiasts has been traditionally strong, however recent years have witnessed a marked rise in the beginners Pilates programs among health clubs, in line with the proliferation in the yoga participation, thereby favoring the sales of Pilates equipment. The initiatives among health clubs that offer Pilates classes in reducing their cost of membership have resulted in greater participation of individuals, in turn complementing growth of the Pilates equipment market.
The study finds that nature of the Pilates equipment market continues to remain splintered, with the occupancy of numerous small players that cater to fitness centers and health clubs worldwide. These players focus on leveraging novel, effective marketing strategies along with innovative product offerings for strengthening their distribution worldwide. Emerging players account for over 60% shares of the Pilates equipment market.
Attractiveness of Europe in Pilates Equipment Market Here to Stay
The study finds that attractiveness of Europe for Pilates equipment market will continue to prevail, with revenues in 2018 estimated at over US$ 94 Mn. This can be attributed to various factors that range from growing number of boutique gyms to a remarkable increase in rehabilitation programs in the region. The trend of mindfulness has also witnessed a significant rise in recent years, indicating the shifting focus of Millennials toward health & wellness.
There has been a notable rise in demand for on-demand, personalized workout sessions from Millennials, which has added to the popularity of boutique studios worldwide. Although high intensity exercises have witnessed a ubiquitous preference, the awareness on good posture and muscle balance in the recent past have been pushing the preference for fitness methods such as Pilates, in turn fueling demand for Pilates equipment.
Sensing varied requirement of end-users, stakeholders in the Pilates equipment market have introduced various products, ranging from barrels & arcs and reformers, to Cadillac and accessories. Gains from reformers have traditionally remained high, followed by barrels & arcs, collectively these two account for nearly 60% sales.
Stakeholders in the Pilates equipment market are leveraging the popularity of boutique studios, through novel product developments and collaborative strategies. A prime example of such developmental efforts is the launch of on-the-go Pilates sessions by Club Pilates across digital platforms for addressing growing consumer demand. A key aspect influencing development and demand for Pilates equipment is the “instagrammable” and socializing nature of the boutique studios, which aids members achieve faster results.