Weight Loss Market Size to Hit US$ 532.5 Bn by the end of 2032 | MarketResearch.biz Analysis

New York, July 11, 2023 (GLOBE NEWSWIRE) — Global Weight Loss Market size accounted for USD 260.7 Bn in 2022. It is projected to surpass around USD 532.5 Bn by 2032, and it is poised to reach a CAGR of 7.6% from 2023 to 2032.

Weight loss refers to the process of intentionally reducing body weight, typically by losing excess fat. It is often pursued for health, aesthetic, or performance reasons. Achieving weight loss involves a combination of dietary changes, increased physical activity, and behavior modifications.

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Key Takeaway

• By diet, the supplements segment leads the market with the highest revenue share of 35%.
• By equipment type, the fitness equipment segment is projected to hold the largest market share of 54%.
• By service, the fitness centers and health clubs segment dominated in 2022.
• By gender, the women segment is estimated to be the most lucrative segment during the forecast period.
• North America leads the market with a revenue share of 35.6% in 2022.
• Asia Pacific market is anticipated to grow at a high CAGR during the forecast period.

The growth of the market is fuelled by key factors such as the increasing number of weight loss surgeries, the rising prevalence of obesity, and different health disorders such as cardiovascular disease, diabetes, and cancer. Moreover, rising government initiatives for creating awareness about weight loss and the launch of novel, innovative products are likely to drive the expansion of the market during the projection period.

Factors Affecting the Growth of the Weight Loss Market

Several factors can affect the growth of the Weight Loss market. Some of these factors include:

• Increasing prevalence of obesity: Obesity is a significant public health concern, and many individuals struggling with excess weight are seeking solutions to help them manage their weight and improve their overall health. Thus, the high prevalence of obesity will likely drive the demand for weight loss products during the forecast period.
• Rising prevalence of health disorders: High weight and obesity is a complex conditions that can lead to various health problems, such as diabetes, heart disease, stroke, and certain types of cancer. As a result, individuals who are overweight or obese often seek solutions to help them lose weight and improve their overall health. Thus, the rising prevalence of health disorders will likely fuel the demand for weight loss products during the forecasted period.

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Top Trends in the Global Weight Loss Market

The rise in new nutrition business models:

Traditional weight loss approaches have typically revolved around the sale of standalone products such as dietary supplements or meal replacement shakes. However, the industry has witnessed a shift towards more holistic and personalized approaches to weight management, giving rise to innovative business models. Thus, the rise in new nutrition business models is a promising trend that is expected to fuel the demand for weight loss products and positively impact market growth in the upcoming years.

Market Growth

The rising prevalence of obesity and several disorders such as diabetes, heart disease, stroke, and certain types of cancer is driving the demand for weight loss products. Also, increasing health awareness among the general population is likely to stimulate the market’s growth during the projected time. Furthermore, rising government initiatives and the launch of high-quality weight loss products will propel market growth over the forecasted time period.

Regional Analysis

North America region leads the market by accounting for a significant revenue share of 40%. The market growth in the region can be attributed to key factors such as the increasing geriatric and adult population, increasing health consciousness, and growing desire for aesthetics and body image. The Asia Pacific region is expected to grow at a high growth rate over the forecast period. The growing middle-class population, increasing urbanization and sedentary lifestyles, and increasing obesity rates are major drivers projected to boost market growth in the region during the estimated period.

Competitive Landscape

The competitive landscape of the market has also been examined in this report. Some of the major players include Good Food Company, Herbalife Nutrition Ltd., Nestle, Glanbia plc, Amway Corp, Kellogg Company, Abbott, GlaxoSmithKline plc, PepsiCo, Atkins Nutrionals, Inc., Nutrisystem, Inc., Jenny Caring Inc., Other Key Players.

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Scope of Report

Market Drivers

Rising prevalence of obesity and health disorders

Obesity is a global health concern, and its prevalence has been steadily increasing in many countries worldwide. Most importantly, obesity is associated with various serious health risks, including heart disease, diabetes, cancer, musculoskeletal disorders, etc. As a result, individuals who are overweight or obese often seek weight loss products as a means to manage their weight and improve their overall health. Thus, the increasing prevalence of obesity and health disorders is likely to fuel the market growth during the projection period.

Market Restraints

Side effects of weight loss supplements and high costs related to low-calorie food and beverages

Many weight loss supplements contain ingredients that can cause digestive problems such as diarrhea, nausea, stomach discomfort, and constipation. These side effects may occur due to the stimulant properties or certain ingredients like caffeine, green tea extract, or fiber additives. Thus, side effects and risks associated with Weight Loss supplements may limit the market growth during the projected period. Also, high costs related to low-calorie food and beverages may limit the usage of Weight Loss and affect the market growth during the estimated period.

Market Opportunities

Rise in childhood obesity.

Childhood obesity is associated with an increased risk of developing various health problems, including type 2 diabetes, cardiovascular diseases, joint issues, and mental health issues. Concerned parents and caregivers may turn to weight loss products to help their children manage their weight and reduce these health risks. Thus, the rise in childhood obesity is anticipated to fuel the demand for weight loss products and open many opportunities for the market in the coming years.

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Report Segmentation of the Weight Loss Market

By Diet Insight

Supplements lead the diet segment by accounting for a major revenue share in the market. Diet supplements are often associated with weight management and fitness goals. They may contain ingredients supporting metabolism, fat-burning, or appetite control. Individuals looking to lose weight or improve athletic performance may be drawn to these supplements as a complement to their diet and exercise routines.

These are key factors driving the segment’s growth during the forecast period. Also, the beverages segment is expected to grow at a high rate during the forecast period. The rising diabetic population and increasing consumer awareness of low-calorie food and beverages in emerging countries are likely to drive the demand for beverages during the estimated period.

By Equipment Type Insight

The fitness equipment segment is likely to dominate the market during the forecast period. Rising awareness regarding fitness and the large-scale availability of several fitness equipments are key factors driving the segment’s growth. The surgical equipment segment is expected to witness growth at a high rate. The key role played by this equipment in combating specific undesirable effects during surgery or operation is expected to stimulate segment growth during the projection period.

By Service Insight

The fitness centers and health clubs segment leads the service segment by accounting for the largest revenue share in the market. The large-scale availability of various fitness facilities and equipment drives the segment growth during the forecast period. On the other hand, the online weight loss programs segment is likely to experience high growth over the projected period. More individuals are using several online fitness applications for weight management. This is a key factor stimulating the growth of the segment.

By Gender Insight

The women segment is estimated to lead the market during the forecast period. Women largely use weight loss products during postpartum weight gain, which has led to high demand for these products. Also, the men’s segment is estimated to grow at a high rate during the projection period due to a rise in fitness awareness among men of different age groups.

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Market Segmentation

By Diet

• Supplements
• Meals
• Beverages

By Equipment Type

• Fitness Equipment
• Cardiovascular Equipment
• Strength Training Equipment
• Others
• Surgical Equipment
• Minimally Invasive/ Bariatric Equipment
• Non-Invasive Equipment

By Service

• Fitness Centers and Health Clubs
• Consulting Service
• Surgical Clinics
• Online Weight Loss Programs
• Other Services

By Gender

Key Regions

• North America
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Competitive Landscape

The Weight Loss market is a highly competitive market and consists of many large and small companies. Market players are implementing key strategies such as acquisitions & mergers, collaborations and partnerships, and product innovations to increase their market share. Moreover, several manufacturers in the market intend to expand their production capacity and invest in innovative technologies to meet consumer demand.

• Good Food Company
• Herbalife Nutrition Ltd.
• Nestle
• Glanbia plc
• Amway Corp
• Kellogg Company
• Abbott
• GlaxoSmithKline plc
• PepsiCo
• Atkins Nutrionals, Inc.
• Nutrisystem Inc.
• Jenny Caring Inc.
• Johnson Health Technology Co, Ltd
• Gold’s Gym International, Inc.
• Herbalife International, Inc.
• Brunswick Corp.
• Meticore
• Solace Nutrition
• Apollo Endosurgery Inc.
• Cargill Inc.
• Ingredion Inc.
• Brunswick Corporation
• Medifast Inc.
• Gold’s Gym International Inc.
• Other Key Players

Recent Development of the Weight Loss Market

• January 2022: The qualities of R-Kane Nutritionals were created by Solace Nutrition, a company specializing in medical nutrition based in the United States. Achieving a key position in the nutrition market, this accomplishment helps Solace Nutrition flourish and create synergy between the two companies.
• October 2020: Meticore introduced a new weight-loss product that is suitable for women as well as men. The supplement promotes metabolism by raising the internal cell temperature, leading to metabolism regeneration.

Browse More Related Reports

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• Weight loss surgery Market size is expected to be worth around USD 936.1 Mn by 2032 from USD 318.3 Mn in 2022, growing at a CAGR of 11.7% during the forecast period from 2023 to 2032.
• Weight Loss & Diet Control Market size is expected to be worth around USD 590.9 Bn by 2032 from USD 248.3 Bn in 2022, growing at a CAGR of 9.3% during the forecast period from 2023 to 2032.
• Weight Management market is expected to index a valuation of USD 495,687.1 million from a value of USD 245,025.0 million registered in 2021. Over the course of this forecast timeline, the global weight management market is slated to index a CAGR of 7.3%.

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