Is it time to bulk up your portfolio with these fitness stocks?
The fitness boom has rocked the global markets in 2025, as both consumers and investors reexamined their approach to health and wellbeing.
What was once a spur of the moment run in an old pair of trainers or a reluctant trip to the gym has become a staple in daily life, leading to an increased interest in gels, step count and carbon plate shoes.
Strava, one of the world’s leading fitness app best known for the ability to give kudos, reported over 180m users in 2025, according to its yearly report, with over 30 per cent of Gen Z users lacing up to run a marathon.
Now, fitness companies are sprinting to the public markets to pounce on the heightened interest, with running app Strava unveiling plans to IPO in New York in early 2026, bringing acquisition and Square Mile favourite Runna with them.
Meanwhile, New York-listed budget fitness chain Planet Fitness has seen its share price increase 9.6 per cent this year to $109.15 (£81.89), with people opting to join budget gyms.
Gym Group looks to rebound
In the UK, small cap fitness centre operator Gym Group has had a rockier year, with shares down 8.9 per cent this year to date, however it has creeped back up over the last month by 1.2 per cent to 139p.
Meanwhile, in its latest set of results, the budget chain saw revenue rise eight per cent to £121m, while profit before tax increased to £4.9m.
The was off the back of a four per cent rise in average members and in average revenue per member per month, which jumped to £21.16.
Despite the promising signs going into 2026, the group did not propose a dividend, instead reinvesting capital back into the company in order to take advantage of the sector’s growing importance among investors.
Lale Akoner, global market analyst at Etoro, said: “Investors looking at fitness stocks may want to keep an eye on The Gym Group, as the business keeps getting stronger even if the share price hasn’t caught up.
“Looking into 2026, we expect that momentum to continue as more sites open and the member base expands.
“Management has been consistent in guiding to steady growth, and there is enough evidence in recent trading to support that view.
But the market hasn’t fully recognised this yet. The shares still sit below what many believe the underlying estate is worth. For investors, that creates a simple narrative: a company improving year after year, and a valuation that hasn’t moved with it, a gap that could matter as 2026 unfolds.
While the Gym Group has untapped potential, fitness supplement and nutrition group Applied Nutrition has consistently gathered momentum with shareholders in its maiden year as a listed company.
Sleepy start to beating expectations
The Liverpool based nutrition company had a mixed start to life on the public market, with its shares struggling at levels below its October IPO price of 140p for a period of time.
However, the group has since shaken off its IPO troubles, as investors grew increasingly optimistic on the supplement maker’s growth.
Dan Coatsworth, head of markets at AJ Bell, said: “While Applied Nutrition operates in a hot sector, driven by a health and wellness trend, the industry is highly competitive.
“Certain investors will want to take their time working out who are the potential winners and losers.
“Applied Nutrition’s shares were sleepy in the first 10 months of its life on the market, but a trading update in August was the trigger to boost investor interest.”
Shares rocketed in 2025, rising a staggering 53.3 per cent this year to date to 214.34 pence, after its full year performance beat market expectations.
The small cap recorded a 24.2 per cent rise in revenue to £107.1m in its first set of full year results as a listed company.
Pre tax profit also jumped to £28.5m, a 17.3 per cent increase from the £24.3m recorded the prior year.
The group, which was founded by chief executive officer Thomas Ryder in 2014, also recorded growth across all geographies upon winning new partnerships with both retailers and distributors.
Sales in the UK jumped 44 per cent as the group worked to increase its high street presence, securing increased shelf space and making products more accessible to a wider consumer base.
European sales also increased by 46 per cent, bolstered by growing investment in France, Spain, the Netherlands and Germany.
International sales grew by just three per cent, but the group expects this to grow in 2026 after completing changes to distribution capabilities in the Middle East.
Yet, Coatsworth noted the group will have to maintain its differentiation in the market and its brand loyalty in order to keep momentum in the competitive sector, as more companies look to muscle their way into the space.
2026 outlook
The board initially held its full year market expectations for 2026 upon the release of its full year results, citing the decision to it still being “early in the financial year”.
Just a month later, the company upped its guidance, expecting its results to be roughly 10 per cent ahead of market expectations, crediting the decision to the “upcoming peak trading period for health, fitness and wellbeing” after the Christmas period.
Analysts had initially predicted full year sales of £122m and pre tax earnings of £34m, but were optimistic on the unscheduled update,
Wayne Brown, research analyst at Panmure Liberum, which held the company at a buy rating, said: “Applied is relatively smaller…but that’s why this opportunity is so exciting.
“It is growing rapidly and has a global distribution model that maximises product reach. The cash pile starts building strongly from here.”
But, similar to the Gym Group, investors looking to add the company to their portfolio will need to be patient, as the company does not yet pay a dividend and does not anticipate doing so before the 2027 financial year.
This means for income based investors looking for quick returns, it may not be the preferred option, as the group continues to focus on reinvesting cash into boosting its production capacity and potential mergers and acquisitions.
But Ryder is bullish for the year ahead, with the group prepared to further capitalise on the growing want for healthier alternatives alongside its core workout products.
Ryder said: “It’s going to grow and grow and grow. People do want to feel better about themselves.”