USD 142.58 billion
Report ID:
SQMIG35A2917 |
Region:
Global |
Published Date: October, 2024
Pages:
167
|Tables:
0
|Figures:
0
Global Weight Management Market size was valued at USD 142.58 billion in 2022 and is poised to grow from USD 156.75 billion in 2023 to USD 334.55 billion by 2031, growing at a CAGR of 9.94% in the forecast period (2024-2031).
The market growth can be attributed to growing bariatric surgery, rapid adoption of online weight loss monitoring programs, increasing disposable income in countries in the developing world. Increasing government programs to raise awareness about weight loss due to rising obesity issues. According to the Institute for Health Standards Assessment, 30.0% of the world’s population is overweight or obese. Obesity is a major challenge for developed countries as well as low-& middle-income countries.
Overweight and obese people report a higher prevalence of chronic diseases such as diabetes, high blood pressure and osteoporosis. Thus, the increasing prevalence of obesity is driving the increase in work on weight. The incidence of childhood obesity is increasing worldwide due to factors such as unhealthy eating habits and lack of physical activity. According to an article published by Narayan Health, about 14.4 million cases of childhood obesity have been reported in India, making it the second highest childhood obesity rate in the world.
The increasing number of hours spent in front of television and computers. Overweight or obese children are more likely to develop chronic diseases in childhood. Increased consumption of junk food, lack of physical activity and growing fast food business led to unhealthy & sedentary lifestyles, leading to weight gain. In addition, extremely busy routines and increased stress lead people to consume fast food, which has unpleasant health effects.
Global Market Size
USD 142.58 billion
Largest Segment
Diet
Fastest Growth
Dietary Supplements
Growth Rate
9.94%
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Based on Function the market is segmented as, Diet, Meals, Beverages, Supplements, Proteins, Fibers, Green tea extract, Conjugate linoleic acid, Green coffee, L-carnitine, Fitness equipment, Cardiovascular training equipment, Treadmills, Elliptical trainers, Stationary cycles, Rowing machines, Stair steppers, Other cardiovascular training equipment, Strength training equipment, Single station equipment, Plate loaded equipment, Benches and racks, Multistation equipment, Free weights, Accessories, Minimal invasive Surgical Equipment, Gastric Bypass Equipment, Laparoscopic Sleeve Gastrectomy Equipment, Laparoscopic Adjustable Gastric Banding Systems, Biliopancreatic Diversion Surgery/Duodenal Switch Equipment, Revision surgery equipment, Noninvasive surgical equipment, Intragastric balloon systems, Endobarrier, Endosuturing devices, Stomaphyx, Others, Services, Fitness centers, Sliming centers, Consultation services, Online weight loss service. Based on the Product Type, the market is segmented into Dietary Supplements, Fitness Equipment, Surgical Equipment, Other Equipment. Region wise, the global Weight Management Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
The diet is the dominating segment in the market. Packages that manual individuals toward healthier ingesting habits to manipulate or lessen their weight. These diets variety from low-calorie, low-carb, ketogenic, and intermittent fasting plans to personalized, medically supervised diets tailored to a man or woman's health situations. Popular weight-reduction plan programs consisting of Atkins, WW (Weight Watchers), and Nutrisystem have advanced proof-based, dependent nutritional processes that help customers control their calorie consumption, make certain nutritional stability. The function of the diet segment is increasingly important as customers come to be greater fitness-conscious and are seeking for sustainable ways to shed pounds. Many diet plans integrate generation, which includes calorie trackers or meal planning apps, to help consumers stay responsible.
The meals segment of the weight management market supports the food segment by providing pre-made or quality foods specifically designed to support weight loss and maintenance. This segment includes food products, prepackaged foods and substitutes (such as shakes, bars, soups) without the hassle of cooking. Companies such as Jenny Craig and NutriSystem that cater to individuals targeted offer standardized, low-calorie meals that ensure consumers stick to their diet unnecessarily. Meal delivery and prepared food options allow individuals to maintain a consistent diet, which is often key to long-term weight management. Meal replacements such as Herbalife shakes or SlimFast bars for those going or seeking quickly, nutritionally balanced diet. This segment also supports adherence to dietary plans by making it easier to avoid unhealthy food choices.
Analysis by Product Type
Dietary supplements are the dominating segment in the market. Dietary supplements are designed to help with weight loss by improving metabolism, suppressing appetite, or improving fat burning that includes things like protein powder, fat burner, vitamins and herbal supplements. Supplements provide a convenient solution for individuals looking to maximize their weight maintenance efforts without the need for an extensive diet plan or exercise. This access helps appeal to a wide range of customers, from busy professionals to fitness enthusiasts. With increased health and wellness awareness, consumers are turning to nutritional supplements as part of an overall weight management strategy. The trend in natural, organic and phytochemical additives is also contributing to the growth of this segment. Many dietary supplement companies are focusing on personalized nutrition, offering customized formulas based on individual health goals, thus providing consumers with their involvement and retention in the market is substantial.
Fitness equipment is the fastest growing segment in the market. Fitness equipment including treadmills, stationary bikes, resistance bands, and weights support the exercise component of weight management. Regular exercise is key to burning calories, improving cardiovascular health and building muscle mass. The increasing demand for home fitness solutions, especially in the post-pandemic period, has led to an increase in fitness equipment sales. Consumers are increasingly investing in home fitness and equipment, making fitness more accessible and accessible. Modern fitness devices often integrate technology, such as digital displays, fitness tracking, and intelligent interactions to enhance the user experience. Regular fitness equipment is not only used for weight loss, but it will also provide long-term physical fitness and prevent lifestyle-related health conditions such as obesity and heart disease prevention, making it an important part of the weight management.
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Asia Pacific is the dominant regional market and had the largest revenue share of over 37.68% in 2022. The regional market is expected to maintain its leading position, growing at a rapid CAGR from the year 2024 to 2031. Rising hypertension & diabetes due to overweight & obese population. Furthermore, the paradigm shift towards non-invasive approaches is fueling the growth of the weight management industry. Other factors driving the growth of the market include increased awareness of the available options for weight loss and management. The increasing popularity of diet plans and fitness centers is expected to further boost the regional weight management market.
North America is estimated to be one of the fastest growing regions with a CAGR of 10.45% during 2024-2031 due to alarmingly high incidence of obesity in US. For example, according to CDC data, increased the sedentary lifestyles coupled with unhealthy eating habits are leading to a sharp rise in obesity and related health issues. This has led to a higher percentage of the population opting for gyms and wellness centers. Furthermore, major market players in North America and availability of products are anticipated to drive the regional market. The increasing demand for natural botanical food additives in North America provided continuing opportunities for key players to develop new products with Europe accounting for major revenues in 2022.
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Drivers
Increasing Lifestyle Diseases and Obesity
Increased Focus on Fitness and Fitness
Restraints
Increased Cost of Weight Management Systems and Products
Limited Long-term Effective Weight Loss Solutions
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The weight management market is highly competitive, characterized by a diverse range of players including established multinational companies, innovative startups, and a growing number of health and wellness brands. This sector encompasses various segments such as weight loss supplements, meal replacement products, fitness equipment, and digital health solutions. The competitive dynamics are driven by continuous innovation, evolving consumer preferences, and strategic initiatives by key market participants. In March 2023, Viking Therapeutics recently disclosed the launch of a Phase I clinical research of its weight reduction drugs to assess VK2735, a dual glucagon-like peptide 1 (GLP-1) & glucose-dependent insulinotropic polypeptide (GIP) receptor.
Top Player’s Company Profiles
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the weight management market is driven by the increasing prevalence of obesity worldwide and the increasing focus on fitness. Consumers are increasingly looking for weight management solutions, from supplements and meal replacements to fitness services and personal health coaching. Technological advancements such as the wearable fitness devices, mobile apps, AI-powered platforms are transforming the industry, making weight management more accessible and personalized but the market faces major challenges including the high cost of a comprehensive weight management program and the difficulty of achieving long-term results.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 142.58 billion |
Market size value in 2031 | USD 334.55 billion |
Growth Rate | 9.94% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Weight Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Weight Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Weight Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Weight Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2917