NEW YORK, Nov. 28, 2016 /PRNewswire/ -- Industry revenue is expected to increase at an annualized rate of 2.2% over the five years to 2016, to reach $617.7 million. This growth includes an increase of 0.8% in 2016 alone.
Demand for ice activities, which tend to be relatively more expensive than other forms of sports and exercise, took longer to rebound after the recession as unemployment remained high and wages stagnated. Nevertheless, a resurgence in interest in ice hockey has helped replenish demand for ice rink management companies, raising revenue and encouraging the development of new facilities. Higher sports participation rates and growing public awareness of the link between physical activity and health have also boosted demand.
The industry is expected to continue to grow over the next five years, driven by improvements in disposable income, consumer confidence and health awareness. According to IBISWorld Industry Analyst Rory Masterson, "Rising concern over childhood obesity rates and inactivity levels will also present industry operators with opportunities in the youth market." Hockey in particular is expected to become more popular, though membership rates on teams and local clubs are not expected to surpass more popular sports, such as soccer and basketball. In the five years to 2021, IBISWorld projects that industry revenue will increase.
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