November 07, 2022 02:44 ET | Source: The Brainy Insights The Brainy Insights
Newark, Nov. 07, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global weight loss and weight management is expected to grow from USD 224.24 billion in 2021 to USD 405.37 billion by 2030, at a CAGR of 6.8% during the forecast period 2022-2030.
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The weight loss and weight management products market include different products such as machines and medications utilized to manage or decrease weight in obese and overweight patients. The increasing global burden of obesity and overweight is pushing the need for preventive care. Obese people are more prone to developing chronic diseases such as diabetes, blood pressure, and orthopaedic issues. Resulting in increased awareness of weight-loss techniques that drive the market growth. Similarly, people are becoming more health-conscious and adopting meal replacements and physical activities to keep themselves fit and healthy. The above factors are the significant reasons pushing the weight loss and weight management market growth. Similarly, other elements driving market development incorporate growing disposable incomes and customer spending power, the emergence of gym culture, and an expansion in the usage of dietary supplements.
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To enhance their market position in the global weight loss and weight management market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In 2021 January, Oziva founded a product line for weight loss, containing seven different products supporting and helping in weight loss. In expansion, products found are focused primarily on men and women.
Market Growth & Trends
Giant pharmaceutical firms are creating novel anti-obesity drugs for weight loss and weight management. Obesity is now the most researched presentation by the number of clinical trials. The obesity drugs channel includes 93 practices across all phases of clinical outcomes. Government institutions perform multiple essential roles in a national public health crisis, including the youth obesity epidemic. It delivers leadership by addressing general obesity as a critical public health preference and coordinating the public and private domain reaction. Despite government guideline regulations and more significant individual commitment, global obesity levels keep increasing. Government rules and taxes might raise weight management awareness and force food and beverage businesses to decrease the calorific worth of their products. Additionally, the temporary closure of gymnasia, wellness centers, health organizations, and sports academies negatively affected market development. Regardless, online sales increased fast in 2021 due to an increased understanding of the significance of a healthy lifestyle and overall welfare. A range of products in various forms, including Ready-to-Drink liquids, bars, gels, and powders, is expected to push the market. Manufacturers are counting on innovative flavors and functional ingredients to improve the nutritious worth of their products. For example, brands add natural elements and lower sugar and caffeine content to Ready to drink products.
• In 2021, the online weight loss programs segment dominated the market with the largest market share of 25% and market revenue of 56.06 billion.
The service segment is divided into slimming centers, consulting services, fitness centers, and online weight loss programs. In 2021, the online weight loss programs segment dominated the market with the largest market share of 25% and market revenue of 56.06 billion. Rising disposable incomes change lifestyles due to fast urbanization and push market development in the U.S.
• In 2021, the beverage segment dominated the market with the largest market share of 35% and market revenue of 78.48 billion.
The diet segment is divided into supplement, meals, and beverages. In 2021, the beverage segment dominated the market with the largest market share of 35% and market revenue of 78.48 billion. The rising overweight population and increasing consumer awareness concerning low-calorie beverages in growing economies lead to segment growth.
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Regional Segment Analysis of the Weight Loss and Weight Management Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global weight loss and weight management market, with a market share of around 34.5% and 77.36 billion of the market revenue in 2021. Growing investments & partnerships in weight loss and weight management business, increasing net incomes connected with transforming lifestyles due to fast industrialization, and commercial availability of liposuction equipment are the elements driving market growth in the region. Also, the rising cases of diabetes & hypertension and the increased adoption of weight loss management programs are anticipated to propel the market growth in the U.S. over the projection time.
Key players operating in the global weight loss and weight management market are:
• Weight Watchers International
• The Gold’s Gym International
• Technogym SpA
• Olympus Corporation
• Nutrisystem Ltd.
• Kellogg Company
• Johnson Health Tech
• Jenny Craig
• Herbalife Ltd.
• Ethicon, Inc.
• Covidien, plc.
• Brunswick Corporation
• Atkins Nutritionals, Inc.
• Apollo Endosurgery
• Amer Sports
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global weight loss and weight management market based on the below-mentioned segments:
Global Weight Loss and Weight Management Market by Service:
• Slimming Centers
• Consulting Services
• Fitness Centers
• Online Weight Loss Programs
Global Weight Loss and Weight Management Market by Diet:
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About the report:
The global weight loss and weight management market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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