Fitness Market Update

The fitness sector in 2025 was a market in motion defined by a surge of high-profile M&A activity. Investors showed a strong desire to put capital to work across the multi-unit spectrum, from high-volume, low-price gyms to specialized boutique studios. Marquee transactions demonstrated that scale, value, and a clear member focus are commanding premium attention. The story is clear—growth is back on the agenda. But this isn’t just a story of acquisition, it’s one of strategic precision. We’re seeing a deliberate reshaping of portfolios. Major players are divesting non-core assets to double down on profitability and operational focus. Xponential Fitness, for instance, executed several key divestitures, streamlining its brand portfolio to better support its core franchise operations. This trend signals a maturing market, where smart operators are pruning for stronger, more resilient growth. The winners are those who know not just what to buy, but what to let go. Driving all this is a fundamental shift in consumer priorities. It’s no longer just about breaking a sweat; it’s about extending healthspan. Longevity and data-driven wellness are the new cornerstones of consumer demand. Eighty-two percent of members are now more focused on their overall well-being. Strength training remains the top priority, but it’s supported by a growing appetite for measurable, personalized health insights—from advanced wearables to in-app biomarker tracking. This is the new frontier, where fitness meets proactive healthcare. To uncover the strategic data and analysis behind these market-defining movements, download the most recent edition of the 2025 Fitness Market Update report from Houlihan Lokey.