15 Most Valuable Health and Fitness Companies in the World

Published September 2, 2021 at 5:54 pm EDT Updated August 19, 2026 at 5:18 am EDT

The global health and fitness industry has been very successful in its growth over the decade. Statistics indicate that from 2009 to 2019 alone, the industry has grown from 67.19 to 96.7 billion US dollars, which translates to a whopping 69% growth within the industry in a decade.

Taking into consideration the recent COVID-19 pandemic, the Health and Fitness industry has only grown bigger as the world has realized its ever-growing importance. During 2019, the US fitness club industry was worth over $38 billion with over 107,000 US fitness industry establishments. The US fitness industry enjoyed a total revenue of over $35 billion. Because of recent activities to help stop the spread of COVID-19, the fitness industry was greatly affected.

Despite the unsteady economy, the health and fitness industry has continued to thrive with more people recognizing the importance of physical activity to boost their immune systems. According to Research and Markets, the home-gym apparatus market revenue is expected to grow at a CAGR of nearly 9% for the years 2019-2025.

According to McKinsey’s research, consumers care strongly about health, and their interest is expanding. Health and fitness are important to 79 percent of consumers in six nations, and 42 percent consider it a top priority, according to a survey of 7,500 customers from six countries. In fact, during the last two to three years, consumers in every area in the study have reported a significant increase in the importance they place on health. They assessed the global health market to be greater than $1.5 trillion with a 5 to 10 percent annual growth rate. Companies will benefit greatly from a surge in consumer’s purchasing power and interest, mainly as expenses on personal health rebound after declining or even dropping in the COVID-19 crisis.

This brings us to the fifteen most valuable health and fitness companies in the world, which were selected on the basis of their market capitalization.

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Our Methodology

We picked the most famous and notable companies that make health and fitness products. We didn’t include core healthcare companies (pharma companies) in this list, as our focus here is more on the companies that make sports apparel, health supplements/devices and fitness-related products.

Most Valuable Health and Fitness Companies in the World

15. Bowflex, owned by Nautilus, Inc. (NYSE: NLS)

Market Cap: $364.054 million

Nautilus, Inc. markets and sells a line of fitness training equipment under the Bowflex brand name. It offers its products through retail, direct, and worldwide channels and is based in Vancouver, Washington. Bowflex has been selling in-home gyms through direct marketing since the mid-1980s.

Bowflex is worth more than $1 billion today, having sold more than 2.5 million units to fitness enthusiasts. It has transformed with modifiable weight dumbbells and kettlebells, while its conventional goods are focused on resistance bars for weight machines.

Wasatch Global Investors, in its Q1 2021 investor letter, mentioned Nautilus, Inc. (NYSE: NLS). Here is what the fund said:

“The largest detractor from Fund performance in the first quarter was Nautilus, Inc. (NLS). The company develops, manufactures and markets health and fitness products—including cardio and strength-training equipment and related accessories. The stock fell on news of higher freight costs due to a shortage of shipping containers. The shortage is disrupting the international transport of raw materials, parts and finished goods. While the stock decline was disappointing, we still have a positive view on the company.

Nautilus offers exercise bikes that rival Peloton bikes. From an investment standpoint, the most attractive characteristic of these bikes is that they typically incorporate subscriptions for online fitness instruction. And subscriptions create recurring revenues that are relatively predictable. Nautilus’s stock trades at a valuation that’s about four times the company’s estimated 2021 EBITDA (earnings before interest, taxes, depreciation and amortization). We think this is a very attractive valuation, and we added to our position in the company because we believe the transport disruptions will be resolved within several months.”

14. Hims & Hers Health, Inc. (NYSE: HIMS)

Market Cap: $1.445 billion

“Hims”, which began as a lifestyle brand targeted at treating issues that most men are afraid to discuss, such as erectile dysfunction, male pattern baldness, and acne, quickly grew to $1 million in sales in its first week and has continued to grow at a rapid pace ever since. The healthcare company has expanded into a multi-specialty telemedicine platform that links consumers to certified healthcare experts, thanks to sister brand “Hers”.

Since its inception, Hims & Hers Health, Inc. has conducted over two million telehealth consultations, allowing people in all 50 US states to have increased access to high-quality, convenient, and inexpensive treatment.

13. WW International, Inc. (NASDAQ: WW)

Market Cap: $1.522 billion

WW International, Inc. (NASDAQ: WW), formerly Weight Watchers International, Inc., is a global firm based in the United States that provides weight reduction, fitness, and attitude services, including the Weight Watchers complete diet program.

WW International, Inc. is the rebranding of a billion-dollar firm that has been in operation for almost five decades. The stock of WW International has dropped about 15% in December and it remains down by about 30%. While COVID-19 has had an impact on the company’s business (revenue was down by roughly 3% in the first nine months of 2020), the company’s digital division has picked up the slack. WW’s digital revenue was up 23% in Q3 2020, and digital helped the company’s total memberships expand by 5% year over year.

Like Dick’s Sporting Goods, Inc. (NYSE: DKS), Peloton (NASDAQ: PTON), Planet Fitness, Inc. (NYSE: PLNT), Nike, Inc. (NYSE: NKE) and Lululemon Athletica (NASDAQ: LULU), WW International, Inc. is one of the most valuable health and fitness companies in the world.

Miller Value Partners, in their Q4 2020 Investor Letter, said WW International, Inc. is a company they continue to monitor during the fourth quarter of 2020. Here is what the fund actually said:

“Another name we’re very excited about is WW (formerly known as Weight Watchers). We’ve followed it for a while. CEO Mindy Grossman, joined in 2017, is excellent. While the company has looked cheap in the past, we think the digital transition has reached an important inflection the market is not reflecting. We expect improving revenue growth and margin expansion and believe the stock can double.”

12. Fitbit, owned by Alphabet Inc. (NASDAQ: GOOG)

Valuation: $2.1 billion

Fitbit is ranked 12th among the top 15 health and fitness firms on our list. Fitbit Inc., headquartered in San Francisco, California, is an American consumer electronics and fitness firm. They manufacture wearables, trackers, smartwatches, and other items for the market. The company recorded revenue of $364 million in the third quarter of 2020, up 5% year over year.

11. Sprouts Farmers Market, Inc. (NASDAQ: SFM)

Market Cap: $2.849 billion

The headquarters of the Sprouts Farmers Market, Inc. (NASDAQ: SFM) supermarket chain is in Arizona. Their customers can choose from a variety of natural and organic foods. Sprouts Farmers Market, Inc. reported net sales of $1.6 billion in the third quarter of 2020, up 9.5 percent from the same period last year.

Sprouts Farmers Market, Inc. is focused on keeping low rates all through the pandemic by purchasing extra food from growers.

In the Q2 2021 investor letter of Silver Ring Value Partners, the fund mentioned Sprouts Farmers Market, Inc.. Here is what the fund said:

“I increased Sprouts Farmers Market to a Medium position. I spoke about the company briefly in last quarter’s letter when I began building the position. It is a good example of the third investing pattern that I described earlier of companies with a long duration of above-average growth that is underappreciated by the market. I presented my investment thesis on the company at MOI Global’s 2021 Wide-Moat Investing Summit. I am attaching the presentation to give you a more in-depth perspective of how I am thinking about this investment.”

10. Herbalife Nutrition Ltd. (NYSE: HLF)

Market Cap: $5.663 billion

Established by Mark Hughes, Herbalife Nutrition Ltd. (NYSE: HLF) is multinational nutrition and weight-loss corporation. Dietary supplements are the focus of Herbalife Nutrition Ltd.’s goods. HLF announced net sales of $1.5 billion in the third quarter of 2020, a 22.3 percent increase over the same time in 2019.

Like Dick’s Sporting Goods, Inc., Peloton, Planet Fitness, Inc., Nike, Inc. and Lululemon Athletica, Herbalife Nutrition Ltd. is one of the most valuable health and fitness companies in the world.

9. Foot Locker, Inc. (NYSE: FL)

Market Cap: $6.041 billion

Foot Locker (FL) is a sportswear and footwear shop based in the United States. Foot Locker, Inc. (NYSE: FL) is known for offering a one-stop-shop for athletic-inspired shoes and apparel for men, women, and children.

Foot Locker, Inc. remains a profitable company with significant free cash flow and high returns on capital. Foot Locker, Inc. has achieved a pre-tax return on capital of 40.5 percent over the last twelve months.

Like Dick’s Sporting Goods, Inc., Peloton, Planet Fitness, Inc., Nike, Inc. and Lululemon Athletica, Foot Locker, Inc. is one of the most valuable health and fitness companies in the world.

8. Planet Fitness, Inc. (NYSE: PLNT)

Market Cap: $6.073 billion

Planet Fitness, Inc. is a fitness club chain that offers personal training, massage services, and other facilities. Planet Fitness, Inc. reported total revenue of $105.4 million in the third quarter of 2020, down 36.8% from the same period in 2019.

Wasatch Global Investors, in its Q1 2021 investor letter, mentioned Planet Fitness, Inc.. Here is what the fund said:

“At the other end of the spectrum, we completely sold our position in Planet Fitness, Inc. (PLNT) even though some speculators would consider the stock to be a reopening play. The company owns and operates a chain of fitness clubs. The stock spiked on optimism that people will return to pre-pandemic levels of exercise at group facilities. But recent earnings for Planet Fitness didn’t impress us, and we decided the stock was too expensive based on our projection for the company’s growth rate.”

7. Dick’s Sporting Goods, Inc. (NYSE: DKS)

Market Cap: $9.804 billion

Dick’s Sporting Goods, Inc., or DKS, as the name suggests, is a sporting goods store. The business operates stores that sell a variety of brand-name sporting products, clothes, and footwear.

6. Peloton Interactive, Inc. (NASDAQ: PTON)

Market Cap: $32.237 billion

Peloton is an American fitness and media company that was founded in 2012. It is one of the largest interactive fitness platforms that has over 3 million members subscribed to it.

Peloton’s main product line includes internet-connected fitness programs that are immersive allowing members to take trainer-led classes at their own convenience from anywhere accessible. With an annual subscription, revenue was reported to be $363.7 million in 2020, making it one of the most valuable health and fitness companies in the world.

Peloton founded connected technology-driven fitness and streaming of lessons for members. They are one of the main collaborating fitness areas in the world with over 2.6 million members. During the fourth quarter of 2020, PTON reported total revenue of $607 million, witnessing a 172% year-on-year growth.

Like Dick’s Sporting Goods, Inc., Peloton, Planet Fitness, Inc., Nike, Inc. and Lululemon Athletica, Peloton is one of the most valuable health and fitness companies in the world.

Artisan Partners, in its Q1 2021 investor letter, mentioned Peloton Interactive, Inc. (NASDAQ: PTON). Here is what the fund said:

“Among our bottom Q1 contributors was Peloton Interactive. Peloton’s growth has accelerated throughout the pandemic as consumers replace in-person gym workouts with the company’s connected bikes and online classes. This has increased brand awareness, decreased the need for advertising spending and quickly proved the company’s high-margin, recurring revenue business model. These benefits were on clear display in Peloton’s Q4 results, which showed subscription growth trends remain robust entering 2021. However, this demand, combined with global supply chain bottlenecks, is resulting in bike shipment delays and has led the company to spend $100 million in the coming months to expedite deliveries. While this will pressure near-term profits, we expect trends to improve later this year as the company’s investments in manufacturing capacity bear fruit and as it rolls out a new, affordable treadmill. We trimmed our position early in the quarter based on valuation concerns, but the stock’s subsequent selloff brought the valuation back into an attractive range, in our view.”

5. Dexcom, Inc. (NASDAQ: DXCM)

Market Cap: $50.212 billion

Dexcom, Inc is one of the top five companies on our list. It is a San Diego, California-based corporation that was founded in 1999. It is a diabetes management company that produces and hands out constant glucose monitoring systems. The company’s revenue increased by 26% to $500.9 million in the third quarter of 2020, compared to the same quarter in 2019.

Carillon Tower Advisers, in its Q4 2020 investor letter, mentioned DexCom, Inc. (NASDAQ: DXCM). Here is what the fund said:

“DexCom, a developer and manufacturer of continuous glucose monitors (CGMs) for people with diabetes, saw its share price suffer in the quarter after an announcement from its largest competitor that it had finally developed a CGM that appears to be competitive with Dexcom’s flagship G6 sensor. Until the competitive dynamics are sorted out, we feel as though the firm’s shares could remain range-bound, leading us to exit the position.”

4. Lululemon Athletica Inc. (NASDAQ: LULU)

Market Cap: $52.97 billion

Lululemon Athletica is a Canadian-American multinational company that was founded in 1998. It creates high-quality fitness products for both genders with a company focus on Yoga. It has 521 company-operated stores in the US, Canada, Europe, Asia, and Australia.

With a strong five-year forecast, the company has continued to excel with the highest net income reported in 2019 at 645.6 million US dollars. Relatively, the US region reported the highest revenue followed by Canada and outside North American regions. The company generated $3.1 billion net revenue from US-based stores alone, making it one of the most valuable health and fitness companies in the world.

The company produces and markets technical athletic wear for yoga, running, and working out.

3. ANTA Sports Products Limited (HKSE: 2020.HK)

Market Cap: $56.87 billion

Anta sports (HKG: 2020. HK) is a Chinese company that was first established in 1991. Its product range includes sports footwear, apparel, and accessories. It has enjoyed massive growth over the last 5 years which has put it in direct competition against Nike, Inc. and Adidas AG (OTCMKTS: ADDDF).

The company’s particularly prominent multi-brand approach has resulted in its pronounced victory and allowed it to quickly expand outside of Asia. Having a global market share of 3.6% and 5.02 billion US dollars in sales revenue by 2019, the company ranks 3rd in our list of the most valuable health and fitness companies in the world.

2. Adidas AG (OTC: ADDYY)

Market Cap: $70.12 billion

Adidas AG is a Germany-based multinational corporation that was founded in 1949. Today it has a product portfolio that is not only huge but ranges from footwear and clothing to sports-related equipment. Employing more than 60,000 people including 170 subsidiaries that include Reebok, Rockport, and CCM-hockey as part of the Adidas Group.

Adidas’s highest ever sales recorded was in 2019 when it had net sales of 23.64 billion US dollars. Only its prime competitor Nike, Inc rivals it. Additionally, the brand was rated among the most valuable German brands in 2019, making it one of the most valuable health and fitness companies in the world.

In the Q2 2021 investor letter of Polen Capital, the fund mentioned Adidas AG (NYSE: ADDYY). Here is what the fund said:

“During the second quarter, the leading absolute contributors to performance (includes) Adidas. Shares of Adidas, the German athletic footwear and apparel maker, outperformed in the quarter as the company’s recently announced “Own the Game” strategy rolled out globally. This plan will leverage Adidas’ digitalization capabilities and innovation. In last quarter’s commentary, we discussed the potential impact increasing digitalization and customer connectivity can have on Adidas in the coming years. On product innovation, a robust product pipeline has helped drive strong growth across categories. Management optimism about the pipeline is a sign that recent trends could continue. Innovation runs the gamut from sustainable or recyclable materials to high performance footwear. A steady stream of new product launches, called activations, evenly spaced out across a calendar year has drawn digitally connected consumers to check in and stay abreast of the latest developments. This connectivity is further supported by steady spending on marketing and endorsements. Together, these drivers delivered strong brand momentum across the business as sales grew.

Margins have nearly fully recovered to pre-pandemic levels, and nearterm results indicate to us that Adidas is continuing to recover from the pandemic impact a year ago. We remain focused on the next five years and applaud management for navigating a tough environment while simultaneously putting a strategy in place for 2025. We believe Adidas could grow earnings at a high teens rate from 2021-2025 after normalizing from the extremes of COVID-19.”

1. Nike, Inc. (NYSE: NKE)

Market Cap: $267.24 billion

Nike, Inc. is by far the largest sporting goods company in terms of its market cap. It is an American multinational company that pioneers in footwear, equipment, accessories, and services related to health and fitness.

The company’s net income faced a drastic decrease in the year 2020 dropping to 2.53 billion US dollars from 4.02 billion in 2019 (38% decrease). This was largely due to the COVID-19 pandemic. Regardless, the company managed to pick itself back up, generating 5.73 billion US dollars the following year, 2021, making it the most valuable health and fitness company in the world.

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