As we’ve shared in previous shareholder letters, international expansion is one of the key pillars in our growth strategy. In 2024, we made great strides to increase our footprint outside of the US, establishing a presence in countries such as Germany, France, Saudi Arabia, Indonesia and the United Arab Emirates.
However, we thought it important to provide some context about one market in particular: Germany.
Germany is home to one of the largest and fastest-growing fitness industries in the world, second only to the US. Let’s take a look:
- As a whole, the German fitness market is expected to be worth an estimated 6.5B euros – or nearly $6.8B USD – by 2027.
- In 2022, Germany had 10.3M fitness and health club members, as compared to some other European countries, such as Spain and France, which have less than half of that at 5.4M and 4.7M, respectively.
- Looking at just equipment alone, this niche sector is growing at a 6.8% CAGR to an expected $581M by 2030, up from $315.66M in 2022.
This last point is important to note given two milestones we achieved last year. We secured compliance to sell in the EU, which in turn allows us to more easily meet demand from customers in the region.
There are several contributing factors to Germany’s growing fitness market. Consumers are becoming much more health conscious, and they have disposable income that they can dedicate to activities that support their wellness journey. In addition, advancements in technology – including digital, personalized training programs – are increasing engagement.
At TRNR, we find ourselves comfortably at this intersection, offering not only the equipment people need to stay healthy and get fit, but customized training platforms that cater to their personal goals as we continue building the leading suite of specialty fitness solutions.
We’ve got our eye on broadening our global reach even more in 2025, so stay tuned for more exciting announcements and market commentary.
Forward-Looking Statements:
This post includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility of completing the Sportstech acquisition, as well as achieving revenue guidance for 2025. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.