Planet Fitness Inc

NYSE:PLNTUnited States

FinancialNewsMedia.com News Commentary

Home fitness equipment is one of the markets that has actually benefitted from the pandemic. Home fitness equipment refers to any equipment or tool used during physical activity at home to improve the experience or results of a workout regimen by adding fixed or adjustable quantities of resistance or to otherwise improve the strength or conditioning effects of that exercise. The main product types of home fitness equipment are treadmills, elliptical machines, rowing machines, strength training equipment, and others with applications in homes, small gyms, offices, and others. A recent reportfrom The Business Research Company projected that the global home fitness equipment market size is expected to grow from $15.13 billion in 2022 to $16.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The report said: "Precautionary healthcare coupled with an increasing preference for customized workout regimes has contributed to the growth of the home fitness equipment market. Today people are inclined towards maintaining an active lifestyle with regular exercise which can maintain a healthy weight and decrease the risk of chronic diseases. According to the Mayo Clinic, an American nonprofit academic medical center, 150 to 300 minutes of moderate-intensity activity is needed in a week which includes physical activities such as fast walking or swimming as an important part of preventive care and to prevent weight gain. People prefer to have a customized workout and are getting trained by online experts and individual training courses in order to meet their requirements. Preventive and precautionary healthcare and customized workout regimes have increased the demand for home fitness equipment market." Active Companies from around the markets with current developments this week include: Interactive Strength Inc. d/b/a FORME (NASDAQ: TRNR),Planet Fitness, Inc. (NYSE: PLNT), Peloton (NASDAQ: PTON), Nautilus, Inc. (NYSE: NLS), BellRing Brands, Inc. (NYSE: BRBR).