The fitness industry is moving forward with renewed strength. After years of post-pandemic recovery and adaptation, the sector is now entering a phase of meaningful growth and reinvention. In a new report by L.E.K. Consulting and Lincoln International, we explore how this dynamic market is evolving.
By 2024, health club memberships soared to 77 million, with club visits up 8% — a clear signal that consumers are not just returning, but reimagining fitness. Younger generations in particular are driving the rise of strength training as they look for more than just cardio and classes. Gyms are also evolving quickly by replacing old layouts with free weights, recovery zones and holistic wellness services.
High-Value Low-Price and premium operators are setting the pace. The former delivers accessibility, while the latter offers full lifestyle integration. Meanwhile, GLP-1 medications are pushing strength preservation and wellness even further into the mainstream, reinforcing the gym’s role far beyond simple workouts.
Momentum on the investment side is just as strong. More than 70 M&A deals closed in 2024, with even more expected as new buyers crowd into the wellness space. Our analysis shows that fitness is no longer a side category — it’s fast becoming the center of the broader health economy.
Read the report at lincolninternational.com or download the analysis.
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