Boutique fitness industry growth is projected at close to 9% a year through 2031, when the global market should reach about $61 billion, according to Mordor Intelligence. Pilates is leading new studio openings, younger members and mental health are driving demand, and more of the growth is coming from new locations than from existing studios.
The latest industry reports are long, gated, or both. Here are the five takeaways that matter heading into 2027, plus what each one means if you own a studio.
1. Pilates Is Leading New Studio Growth
Reformer Pilates is now offered by more than half of boutique studios and accounts for three of every four new openings, according to Mariana Tek. Yoga still holds the largest share of revenue, at 28.71%, according to Mordor Intelligence.
In Mariana Tek's 2027 industry report, which covers more than 2,500 US studio locations on its platform, 53% of established studios offered Pilates (including Lagree and Megaformer), up from 40% a year earlier. That makes it the most common and fastest-growing modality among those studios, ahead of strength training, yoga, and indoor cycling. New openings tilt even harder toward Pilates: these formats launched more than six times as many studios as yoga.
What this means for studio owners: More reformer studios means more choice for your members. Know your retention rate before a competitor opens nearby, so you can measure whether your members stay.
2. Community Keeps Members Coming Back
Boutique members stay for belonging and expert coaching, not just a workout.
Mariana Tek's 2027 report describes studios as "third spaces" in their communities. The operators doing this well lean into hospitality, from welcoming spaces to events that bring members together outside of class.
The numbers back it up. In Mariana Tek's survey of studio owners, 85% cited instructor relationships as one of their most effective retention strategies, and word of mouth was their top way to attract new clients. Members who bring a guest have a 91% monthly retention rate, six points higher than members who don't, and spend 1.9 times as much.
What this means for studio owners: Track guest visits, referrals, and retention together. They show whether your community is working, and they’re the proof a buyer will ask to see. Our boutique fitness membership retention strategies can help you find areas to improve.
3. Younger Members and Mental Health Are Driving Demand
Younger adults and people who exercise for their mental health are driving boutique fitness demand.
According to Mordor Intelligence, Gen Z had the highest fitness membership rate of any US age group in 2025, at 35.5%, and millennial demand for holistic wellness is one of the market's growth drivers. Women still make up most of the market, at 65.23% in 2025.
Why people come matters as much as who they are. In Mindbody's 2022 survey of more than 16,000 Americans, reducing stress and feeling better mentally tied as the top reasons to exercise, at 43% each. Before the pandemic, controlling weight topped that list. The American College of Sports Medicine ranks exercise for mental health No. 9 on its 2027 fitness trends list, its fourth straight year in the top 10. On Mariana Tek's 2027 city tour, studio owners kept bringing up longevity, recovery, and mental well-being.
What this means for studio owners: Make sure your classes and marketing reflect why people come now, including stress relief and mental well-being, not just weight loss.
4. Franchises Are Scaling, but Growth Is Coming From New Locations
Franchises still hold most of the boutique fitness market, but more of the industry's growth now comes from opening new studios than from growing existing ones.
The franchise model held 58.99% of the market in 2025, according to Mordor Intelligence, while independently owned studios are projected to grow faster, at 9.82% a year through 2031.
Franchisors are still expanding. More than 1,500 Xponential locations now operate under Club Pilates, and in April 2026, Xponential signed a deal with franchisee Riser Fitness for 127 new Club Pilates studios across six states over five years.
Xponential's results show where that growth is coming from. In Q2 2026, its North America system-wide sales were flat: new studios offset a 6.8% drop in same-store sales (sales at studios open at least 13 months), and Club Pilates same-store sales fell 5%. MMCG's 2026 outlook saw a similar split in reformer Pilates. Category revenue is still rising on new openings, while existing studios in mature coastal markets show early signs of saturation.
The pattern holds beyond the big franchises. On Mariana Tek's platform, new studio openings rose 72% in a year, and nearly half were existing brands adding locations, while revenue at existing studios leveled out in 2026. Among multi-location owners surveyed, 38% named competing in a crowded market as their biggest challenge.
I'm hearing it from owners, too. Many of the owners I've talked with this year saw summer revenue down 10% to 15% from the year before. That's anecdotal, not a dataset, but it lines up with the numbers above.
What this means for studio owners: If your same-studio revenue dipped this year, find out why now. A soft year is easier to fix, and to explain to a buyer, when you know the cause.
5. The Boutique Fitness Industry Is Maturing
Boutique fitness is entering a more stable, more competitive phase: demand is holding, prices are rising, and the bar for every studio is higher.
Attendance has leveled off. The Health & Fitness Association's tracker, which measures visits across more than 10,000 US fitness facilities, shows boutique visits below pre-pandemic levels but holding in a narrow range since early 2023. Mariana Tek's data is more upbeat: attendance at existing studios returned to 2019 levels in 2025 and is on track to pass them in 2026.
Members are paying more and staying. In Mariana Tek's data, the average class cost $22.80 in 2026, up 7% from the year before, and retention held between about 81% and 84% in every US region despite rising living costs.
Studios are also adding services beyond the class: 69% now offer personal training, wellness, or recovery, and those studios earn 40% to 51% more in average monthly revenue than class-only studios, though Mariana Tek notes the services aren't necessarily the cause.
Competition is also changing what wins a sale. As I wrote in a recent Athletech News piece on what's actually closing, buyers pay more for strong retention, deep instructor benches, and long leases than for revenue growth alone.
What this means for studio owners: In a maturing market, the studios that sell well are the ones that can run without their owner.
What Boutique Fitness Industry Growth Means If You're Thinking About Selling
Industry growth sets the backdrop for a sale. It doesn't set your price.
In my book, The Number Nobody Talks About, I explain that interest rates and the economy matter at the margins, but personal readiness drives the outcome: clean financials, a management team in place, a solid lease, and a business that's stable or growing.
The margins still matter, because the lender sets the ceiling. Most studio buyers are individuals, and many finance the purchase with an SBA loan. SBA-financed studio sales tend to top out around 3x to 3.5x earnings. When rates rise or lenders get cautious, a buyer can finance less at the same earnings. The Federal Reserve raised rates in September 2026 and held them at 3.75% to 4.00% in October.
A sale also takes longer than most owners expect. Across our 2025 and 2026 closings, the median studio took about three months from listing to a signed letter of intent and a little over five months to close. I tell owners to give themselves at least a full year of preparation before listing; two or three years is better.
Boutique Fitness Industry Growth FAQs
How big is the boutique fitness industry?
The global boutique fitness market is worth about $39.9 billion in 2026 and is projected to reach $60.9 billion by 2031, according to Mordor Intelligence. That works out to growth of close to 9% a year, with franchises holding most of the market today.
Is boutique fitness still growing?
Yes. Mordor Intelligence projects close to 9% annual growth through 2031, and new studio openings on Mariana Tek's platform rose 72% in the past year. Existing studios are seeing less of it: same-studio revenue leveled out in 2026, and same-store sales fell at Xponential, which owns Club Pilates.
Is the Pilates market saturated?
In some places. MMCG's 2026 reformer Pilates outlook finds early saturation signals in mature coastal markets, with California the clearest case. Interior and Midwest markets are still underpenetrated, and pricing power across the category remains intact.
Next Steps for Owners Considering a Sale
Boutique fitness is still growing, and well-prepared studios are still selling. But I can't promise 2027 is the best year to sell, and nobody can. If you're already on the fence, I'd bet on 2027 over 2028, and the only way to keep that option open is to start preparing now.
The earlier you start, the more options you’ll have when you’re ready.
Ready to talk it through? Book a free, no-pressure call to talk about your studio and what’s next for you.