Digital Fitness is Here to Stay

MAR 25, 2020
by Trung Phan
health and wellness SaaS sports and fitness Technology

Source: Sensor Tower

The Signal: According to the International Health, Racquet & Sportsclub Association (IHRSA), there are 62m gym memberships in the US and 183m globally. Social distancing measures have put the physical gym and fitness club industry on pause.

Similarly, in-person training for youth sports and fitness are on hiatus.

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Market Signals

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The alternative milk market is getting frothy

The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.

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The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.

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