Canada: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Canada

In 2022, the Canadian gym and fitness equipment market decreased by -38.2% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, saw a tangible expansion. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Production of Gym and Fitness Equipment in Canada

In value terms, gym and fitness equipment production reduced modestly to $X in 2022 estimated in export price. Overall, production posted a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 67%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Gym and Fitness Equipment

Exports from Canada

In 2022, shipments abroad of gym and fitness equipment increased by 38% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 40%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, gym and fitness equipment exports skyrocketed to $X in 2022. In general, exports showed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for gym and fitness equipment exports from Canada, accounting for a 70% share of total exports. Moreover, gym and fitness equipment exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), more than tenfold. China (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+22.6% per year) and China (+11.3% per year).

In value terms, the United States ($X) remains the key foreign market for gym and fitness equipment exports from Canada, comprising 70% of total exports. The second position in the ranking was held by South Korea ($X), with a 5% share of total exports. It was followed by China, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+24.6% per year) and China (+13.1% per year).

Export Prices by Country

In 2022, the average gym and fitness equipment export price amounted to $X per ton, dropping by -3.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 22%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and the United States ($X per ton), while the average price for exports to the UK ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Canada

In 2022, supplies from abroad of gym and fitness equipment decreased by -51.6% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, enjoyed a moderate increase. The growth pace was the most rapid in 2021 when imports increased by 82%. As a result, imports reached the peak of X tons, and then contracted significantly in the following year.

In value terms, gym and fitness equipment imports reduced markedly to $X in 2022. Overall, imports, however, recorded a moderate expansion. The growth pace was the most rapid in 2021 with an increase of 73%. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gym and fitness equipment to Canada, with a 69% share of total imports. Moreover, gym and fitness equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.7% per year) and Taiwan (Chinese) (+1.5% per year).

In value terms, China ($X) constituted the largest supplier of gym and fitness equipment to Canada, comprising 69% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.5% per year) and Taiwan (Chinese) (+2.8% per year).

Import Prices by Country

In 2022, the average gym and fitness equipment import price amounted to $X per ton, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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