The gym and fitness equipment market in Asia is expected to grow steadily in the coming years. By 2035, the market volume is forecast to reach 1.8 million tons, with a total value of approximately $8.5 billion.
Market Growth Outlook
This growth is driven by increasing demand for fitness products across the region. Experts predict that between 2024 and 2035, the market will expand at a compound annual growth rate (CAGR) of around 2.8% in terms of volume. In value terms, the market is also projected to grow at a CAGR of 2.7%, reaching $8.5 billion by 2035.
Recent Consumption Trends
In 2024, consumption of gym and fitness equipment in Asia declined by 34.6% to 1.3 million tons. This marks the third consecutive year of decline after nearly a decade of steady growth. Despite this, overall consumption has increased over the long term, peaking at 2.1 million tons in earlier years.
The market value also dropped significantly in 2024, falling by 29.4% to $6.3 billion. This figure reflects revenues earned by producers and importers but excludes logistics, retail, and marketing costs. The highest market value was recorded in 2022 at $10.2 billion, but since then, recovery has been slow.
Consumption by Country
In 2024, the largest consumers of gym and fitness equipment in Asia were China (386,000 tons), Pakistan (279,000 tons), and Vietnam (74,000 tons). Together, these three countries accounted for 56% of total regional consumption.
Other notable consumers included South Korea, Japan, Malaysia, India, Turkey, Myanmar, and North Korea, making up an additional 27%. Among these, India showed the fastest growth, with a CAGR of nearly 20% since 2013.
In terms of market value, Pakistan led with $2.1 billion, followed by China with $1.2 billion and Vietnam with $525 million in 2024. India again showed strong value growth, expanding at a CAGR of 13.6%.
When looking at per capita consumption, Malaysia, North Korea, and South Korea topped the list in 2024. India recorded the fastest increase in per capita terms over the last decade.
Production Overview
Asia’s production of gym and fitness equipment was stable at 3.7 million tons in 2024, holding steady from the previous year. Overall, production has grown significantly over the years, with a notable 50% increase in 2020. The production volume peaked at 5.4 million tons in 2021 but has slightly declined since then.
In value terms, production was estimated at $14.6 billion in 2024, down from a peak of $20.5 billion in 2021.
Production by Country
China dominates the production landscape, producing 3.1 million tons in 2024—about 84% of Asia’s total. Pakistan and Taiwan followed, with 280,000 and 71,000 tons respectively. China’s production has grown at an annual rate of 4.4% over the past decade, while Pakistan grew at 8%. Taiwan’s production declined slightly.
Imports in Asia
Imports of gym and fitness equipment reached approximately 450,000 tons in 2024, a 6.3% increase over the previous year. Imports have generally risen over the last decade at a CAGR of 5.8%, though growth has fluctuated. The highest import volume was 542,000 tons in 2021.
In value terms, imports reached $2 billion in 2024, up moderately with a CAGR of 4.9% over the past eleven years.
Major Importing Countries
Japan, South Korea, India, Indonesia, Malaysia, Saudi Arabia, Thailand, Vietnam, and Taiwan together accounted for more than two-thirds of total imports in 2024. The Philippines held a smaller share.
India experienced the fastest import growth with a CAGR of 18.7% since 2013. Japan ($280 million), South Korea ($218 million), and India ($145 million) were the largest import markets by value.
Import Prices
In 2024, the average import price was $4,342 per ton, a slight drop of 3.5% from the previous year. Prices peaked in 2022 at $5,048 per ton before declining. Vietnam had the highest import prices ($6,025 per ton), while the Philippines had some of the lowest ($1,952 per ton).
Exports from Asia
Exports of gym and fitness equipment in Asia rose sharply to 2.9 million tons in 2024, up 32% from 2023. This follows strong growth over recent years, with a peak volume of 3.8 million tons in 2021.
In value terms, exports reached $10.3 billion in 2024, after a high of $13.3 billion in 2021.
Export Leaders
China leads Asian exports by a wide margin, accounting for 96% of the total volume in 2024 (2.7 million tons). Taiwan is a distant second with 74,000 tons. China’s export volume has grown at 6.2% annually over the past decade, while Taiwan’s exports declined slightly.
China also dominates in value, supplying $9.2 billion worth of gym and fitness equipment in 2024, or 89% of the total. Taiwan’s exports were valued at $743 million.
Export Prices
The average export price in Asia fell by 10.5% to $3,603 per ton in 2024. Prices peaked in 2022 at $4,331 per ton. Taiwan commanded the highest export prices at nearly $10,000 per ton, while China’s prices were about $3,350 per ton.
