The Evolving Fitness Market: Trends and Insights for 2026
As the fitness industry continues to evolve, recent reports indicate exciting trends and developments that may shape the future of our workouts. According to the latest “Fitness Market Update” from Houlihan Lokey, 2025 is predicted to be a standout year for mergers and acquisitions (M&A) in the fitness sector. This marks a significant increase in transaction activity compared to previous years, especially among both large fitness chains and boutique studios.
Fitness Market Highlights from 2025
In 2025, a total of 102 deals were executed within the fitness industry, accumulating a transaction value of $3.2 billion. While this represents a decrease from 115 deals worth $4.5 billion in 2024, the previous year’s figures were significantly buoyed by a substantial investment in Equinox Holdings, which aimed to strengthen its financial footing and fuel growth.
The transaction landscape of 2025 exhibited notable activity, particularly driven by key acquisitions such as Crunch Fitness by Leonard Green & Partners and the buyout of EoS Fitness by TSG Consumer Partners, along with the significant sale of 24 Hour Fitness to LongRange Capital. These deals underline a clear investor interest across various segments of the fitness market.
Active Segments and Noteworthy Transactions
Houlihan Lokey’s reported “HVLP” (High Value, Low Price) category emphasized significant transactions in both traditional and boutique fitness spaces. Noteworthy inclusions were the sales of CycleBar and Rumble Boxing to Extraordinary Brands, and other transactions involving LifeFit Group, which highlight a notable rise in lucrative opportunities within the fitness sector.
Despite these successes, investment in fitness equipment saw a more cautious stance from investors, partly due to uncertainties with tariffs affecting profitability.
Equity Performance and Future Trends
Although the Houlihan Lokey Fitness Index lagged behind the S&P 500 in 2025, it still showcased growth in traditional fitness equipment and multi-unit fitness sectors. Companies like Technogym and Beachbody demonstrated remarkable performance, increasing by over 50% in the latter part of the year. Meanwhile, most multi-unit fitness firms also enjoyed a collective rise of about 12.3%, with standout performers like SATS Group and Basic-Fit leading the charge.
However, connected fitness equipment stocks faced a downturn, further emphasizing the evolving landscape of consumer preferences and market conditions.
Looking Ahead: The 2026 Consumer Fitness Outlook
Looking to 2026, there are strong indicators that the positive trends seen in the latter half of 2025 will persist. Life Time’s 2026 Wellness Survey confirms that consumers are increasingly prioritizing strength training and overall wellness, with 82% of respondents reporting improved focus on their well-being. Additionally, insights from Strava reveal a 37% increase in wellness bookings and a 66% rise in Pilates class reservations.
As consumer demand for effective wellness solutions continues to grow, it creates ample opportunities for strategic M&A activities within the fitness market. Houlihan Lokey predicts that this trend will drive a surge in both platform acquisitions and divestitures throughout 2026.
Conclusion
The fitness industry is on an upward trajectory, characterized by evolving consumer preferences and a wave of strategic investments. Whether through engaging in new boutique fitness classes or securing corporate deals, there’s plenty of opportunities for consumers and investors alike. As we step into 2026, staying informed about these trends can empower you to make the most of your fitness journey, whether at the gym or through at-home workouts.
For a deeper dive into the state of the fitness market, you can download Houlihan Lokey’s “2H 2025 Market Update” here.
