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Jul-2019

Weight Loss and Diet Management Market Size To Reach USD 2992.9 Million by 2026

Global Weight Loss and Diet Management Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Diet, Equipment, Services and Region – Industry Forecast (2021 to 2026)

Weight Loss and Diet Management Market Size (2021 to 2026)

The size of the global weight loss and diet management market is predicted to value USD 2992.9 Million by 2026, registering a CAGR of 7.42% from 2021 to 2026.

Impact of COVID-19 on the global weight loss and diet management market:

The outbreak of covid-19 has shown a positive impact on the Weight loss and diet management market. The Surge in the covid-19 led to the nationwide lockdown. People are becoming more health-conscious and always seeking fitness and improved healthcare. The pandemic has increased demand for online weight loss management programs. However, the market has experienced little growth decline due to the ban on transportation. Therefore, the market is anticipated to register a higher share in the coming year.

KEY DRIVING FACTORS:

Obesity and excess weight have long been a major issue for people's health and fitness, resulting in the growth of an industry that is becoming more health-conscious and always seeking fitness and improved healthcare. The other factors such as sedentary lifestyles and the Changing food habit of the people in the developed countries are majorly influencing the market growth. Further, with the growing number of fitness centers and slimming centers, the market for products and services is constantly rising. As a result, more people are becoming involved in living a better and healthier lifestyle.

According to WHO estimates, over 1.4 billion people worldwide are obese or overweight, which is alarming despite the overall health concern that up to 20% of children aged six to eleven years are obese. This trend is expected to continue over the next nine years due to increased fast-food demand and poor diets.

In the recent past, the demand for online weight loss management programs has been rapidly increasing; therefore, it led to the high adoption of online weight loss management programs, which is expected to increase the market revenue during the forecast period. In addition, the increasing obese population across the globe is majorly contributing to the market growth. In addition, in developed economies, the prevalence of health issues such as diabetes, cardiovascular disease, and cancer has increased dramatically in recent years. Thus, the rise in the incidence of health disorders has fostered the adoption of weight loss and weight management products. Furthermore, the global weight loss and weight management diet market are anticipated to benefit from a growth in fitness consciousness in countries such as China and India due to improved lifestyles and diet changes. Moreover, increasing investments and funding by the government and non-government for creating awareness among the obesity population.

RESTRAINING FACTORS:

However, the adverse effects of weight loss supplements and side effects of weight loss surgery are the major growth restraining factors. Also, expensive low-calorie food and beverages are the growth impediments.

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KEY MARKET INSIGHTS:

Based on the diet, the food & beverages segment dominated the market, and it is estimated to record rapid share during the forecast period. Growing obese population and rising concern on low-calorie food and beverages are propelling the segment growth.
Based on the equipment, the Fitness training Equipment segment is expected to account significant share owing to the incidence of health disorders and other chronic diseases.
Geographically, the North American market dominated the global Weight loss and diet management market in 2020, and it is anticipated to account enormous share during the forecast period. The increasing number of bariatric surgeries and the growing obesity population in countries like the United States and Canada drive market growth. The European market is projected to witness a significant share in the Weight loss and diet management market. The market growth is attributed to the rising awareness about nutrition and healthy lifestyles, technological advancements in the healthcare sectors, and developed countries such as the UK and Germany. The APAC is the third-largest sharing holding region in the Weight loss and diet management market, and it is expected to register the highest CAGR during the forecast period. Increased fitness awareness in countries like China and India, which led to increasing lifestyles and dietary changes, will provide lucrative business opportunities for regional weight loss and weight management diet players.
Kellogg Company, Atkins Nutritionals, Inc., Herbalife Ltd., NutriSystem, Inc., Johnson Health Technology Co., Ltd., Ethicon, Inc., Weight Watchers International, Inc., VLCC Healthcare Ltd., eDiets.com, and Olympus Corporation are some of the leaders in the global weight loss and diet management market.