A large percentage of Malaysia’s population suffers from obesity and has a high body mass index (BMI). This is concerning since obesity is linked to diseases such as heart disorders, hypertension, and diabetes.
The good news is, the local wellness and fitness industry is expected to flourish in the coming years, given the increase in public awareness and health initiatives following the pandemic.
Furthermore, the Malaysian Fitness Coalition – a group of private owners and operators – is urging the government to reclassify gyms and fitness centres as essential services, making this an opportune time to explore this field.
If you are an investor or entrepreneur, here are five reasons why you should look into the Malaysian fitness and wellness industry.
1. More people opting for a healthier lifestyle
As the effects of the pandemic gradually wane, most businesses are reopening while following Covid-19 protocols. These include offices, schools and gyms.
With Malaysians growing more conscious of their health, many of them have joined fitness centres and gyms. These businesses, therefore, are ripe with potential for those looking to delve into a lucrative market.
2. Greater consciousness for healthier foods
As people prioritise their health, there is greater appreciation for natural and healthier ingredients over industrially processed foods.
As such, a considerable segment of the population are opting to take up gym memberships to complement their healthy diet choices.
3. Rising cost of health insurance
While the pandemic has led to a surge in health insurance costs, companies and insurers are taking the opportunity to incentivise a healthier lifestyle.
Rather than spend a lump sum of money on health insurance, companies are encouraging their employees to take up health and fitness packages. This massive demand has contributed to the growth of the wellness market in Malaysia.
4. Budget-friendly gyms
Boutique fitness studios and high-value, low-price (HVLP) health clubs have been drawing greater numbers to gyms. In fact, HVLP health clubs have become dominant in the wellness market due to their all-in-one pricing structure.
5. Introduction of online operations
When lockdowns were enforced, almost every industry had to adapt to remote modes of operation. The fitness industry, for instance, shifted to holding classes online to retain members.
While in-person sessions are gradually being reintroduced, fitness centres are likely to continue exploring virtual opportunities. All these factors will allow health businesses in Malaysia to grow and flourish in the coming years, making them viable investment opportunities.
Erika Peres is a social media influencer, entrepreneur and director of multiple companies. She is a mother of two boys and has a passion for sports, fitness and lifestyle. She can be reached on Instagram, LinkedIn and Facebook.