Rising Incomes Reshape Fitness Spending
A new analysis finds that rising incomes are fundamentally reshaping wellness spending, with consumers moving into higher income brackets willing to spend more on gym memberships, boutique fitness, wellness gadgets, and personalized health services. Participants report "tangible dividends" in mental clarity, confidence, and social connection, signaling wellness is becoming core to personal identity.
- The global wellness economy reached $6.3 trillion in 2023 and is projected to grow to nearly $9 trillion by 2028. This growth is significantly higher than the projected increase in global GDP. In the U.S. alone, the wellness market is valued at $2 trillion, with Americans spending over $6,000 annually on wellness. - High-net-worth individuals are increasingly prioritizing spending on experiences that enhance their health over traditional luxury goods. For example, 39% of high-income consumers plan to book luxury wellness retreats in the next year, and some are willing to pay for ultra-premium services like Equinox's $40,000-per-year gym membership. - Boutique fitness studios, which offer specialized and community-focused workouts, are a rapidly growing segment valued at over $51.6 billion. This market is expected to reach nearly $60 billion by 2030, with 42% of all gym memberships now being for boutique studios. - The wearable technology market was valued at approximately $92.9 billion in 2025 and is projected to more than double to $229.97 billion by 2033. This growth is driven by consumer interest in tracking health metrics and the increasing sophistication of devices like smartwatches and rings. - Digital fitness, including virtual training and mobile apps, is another high-growth area. The virtual fitness market, valued at $16.4 billion in 2022, is forecasted to expand significantly with a compound annual growth rate of 26.72% through 2030. In 2023, there were 850 million fitness app downloads by nearly 370 million users. - While higher income levels correlate with a greater likelihood of purchasing gym memberships, they are also linked to a higher rate of those memberships going unused. Americans waste an estimated $1.3 billion annually on unused gym memberships. - Personalized healthcare is a significant trend, with the market valued at over $565 billion in 2024 and projected to exceed $1.25 trillion by 2035. This includes a growing consumer interest in personalized nutrition and wellness based on individual genetic profiles. - The fitness industry is increasingly focused on a holistic approach to wellness that extends beyond physical exercise. Many studios are now integrating recovery and mental wellness services, such as infrared saunas, ice baths, and meditation, into their offerings.
