Taekwondo Studios in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: January 2024
NAICS OD6444
Spotlight Report Revenue
$3.5bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
28,560
Businesses
7,425
Wages
$X.Xbn
Taekwondo Studios in the US industry analysis
Taekwondo studios have seen overall growth in recent years. The outbreak of the COVID-19 pandemic hammered taekwondo studios. Social distancing measures prevented taekwondo from practicing because of the hands-on nature of the sport. Following the reopening of the economy and vaccine rollouts, pent-up demand led to strong growth in 2021 and 2022. Growth in total recreation expenditure enabled taekwondo studios to recover over the current period. As taekwondo is largely discretionary expense, increasing per capita disposable income has aided the industry in recent years. Overall, revenue is expected to have increased at a CAGR of 4.7% to total $3.5 billion in 2024, including an estimated increase of 0.8% in 2024 alone. The need for instructors with solid reputations has led to profit declines as wage costs have increased. Also, climbing rental costs have hindered profit growth over the current period.
Trends and Insights
- Taekwondo studios’ revenue took a significant dive in 2020. COVID-19 pandemic related restrictions limited in person, up-close activities like taekwondo.
- Taekwondo is popular among younger people. Parents often enroll their children in classes to socialize, learn self defense and exercise. Children also have more free time and are less prone to inflict or receive injuries from martial arts.
- Taekwondo studios face various forms of external competition. Other martial arts like boxing, karate and kickboxing are substitutes for taekwondo. Also, exercise classes, like spin classes, are a source of external competition as consumers often use taekwondo as their exercise.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 4.7 % over the past five years, to reach an estimated $3.5bn in 2024.
Trends and Insights
The outbreak of the COVID-19 pandemic was detrimental to taekwondo studios
- Taekwondo studios faced considerable declines in 2020 as lockdown mandates fully shut taekwondo studios for much of the year. Social distancing measures made in-person group classes impossible.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Growth is set to continue in the coming years
- Continued growth in total recreation spending over the outlook period is set to bolster the performance of taekwondo studios.
Biggest companies in the Taekwondo Studios in the US
There are no companies that hold a large enough market share in the Taekwondo Studios in the US industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Membership, Personal training and instructional programs and Other services. Membership is the largest segment of the Taekwondo Studios in the US.
Trends and Insights
Various factors contribute to membership comprising the largest market
- Memberships give consumers access to group training. Group training within taekwondo involves organized classes or sessions where a range of practitioners, spanning from novices to more experienced students, practice collectively under the supervision of an instructor.
- More insights available in the full report
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Competitors
- Brazilian Jiu-Jitsu Studios in the US
- Karate Studios in the US
- Kickboxing Studios in the US
- Mixed Martial Arts Studios in the US
Complementors
- Sporting Goods Wholesaling in the US
International industries
- Gym, Health & Fitness Clubs in Canada
- Taekwondo Studios in Australia
- Gyms & Fitness Centres in the UK
- Gyms & Fitness Centres in Germany
Table of Contents
About this industry
Industry definition
Operators in this industry offer instruction in Taekwondo, a Korean martial art that combines self-defense and combat.
What's included in this industry?
Teaching taekwondo classesHosting taekwondo competitionsSell taekwondo equipmentProviding private taekwondo trainingCompanies
Purchase this report to view all major companies in this industry.
Related Terms
DOJANGATHLETIC TRAINERPROFESSIONAL SPORTSRECREATIONAL SPORTSIndustry Code
NAICS 713940 - Taekwondo Studios in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Taekwondo studios’ revenue took a significant dive in 2020. COVID-19 pandemic related restrictions limited in person, up-close activities like taekwondo.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Factors that influence volatility in the industry
- Key success factors for businesses to overcome volatility
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Taekwondo is popular among younger people. Parents often enroll their children in classes to socialize, learn self defense and exercise. Children also have more free time and...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Purchase this report to unlock analyst insights.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Taekwondo studios face various forms of external competition. Other martial arts like boxing, karate and kickboxing are substitutes for taekwondo. Also, exercise classes, lik...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Taekwondo studios receive little public assistance. Private associations like World Taekwondo and ATA Martial Arts assist taekwondo studies by hosting competitions, offering ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The COVID-19 pandemic had a negative impact on taekwondo studios’ revenue. Following a strong post pandemic rebound, inflation has been a burden.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
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IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Taekwondo Studios in the US industry in United States in 2024?
The market size of the Taekwondo Studios in the US industry in United States is $3.5bn in 2024.
How many businesses are there in the Taekwondo Studios in the US industry in 2024?
There are 7,425 businesses in the Taekwondo Studios in the US industry in United States, which has grown at a CAGR of 15.9 % between 2019 and 2024.
Has the Taekwondo Studios in the US industry in United States grown or declined over the past 5 years?
The market size of the Taekwondo Studios in the US industry in United States has been growing at a CAGR of 4.7 % between 2019 and 2024.
What is the forecast growth of the Taekwondo Studios in the US industry in United States over the next 5 years?
Over the next five years, the Taekwondo Studios in the US industry in United States is expected to grow.
What does the Taekwondo Studios in the US in United States include?
Teaching taekwondo classes and Hosting taekwondo competitions are part of the Taekwondo Studios in the US industry.
How competitive is the Taekwondo Studios in the US industry in United States?
The level of competition is high and steady in the Taekwondo Studios in the US industry in United States.
