The size of the Weight Loss & Diet Management Market in North America is expected to reach USD 142.46 Billion by 2028 from USD 91.74 Billion in 2023, growing at a CAGR of 9.2% during the forecast period.
Dieting, exercise, and other medically prescribed weight loss programs were previously regarded as the final resort after dieting, exercise, and other medically prescribed weight loss programs had failed. On the other hand, bariatric operations have become less painful for patients as a result of technical developments. As a result, the medical profession increasingly accepts these treatments as a viable and long-lasting alternative to traditional weight loss techniques. Obesity and weight gain have long been significant worries for people's health and fitness, resulting in the establishment of a business where people are becoming more health-conscious and constantly seeking fitness and improved healthcare.
The growing obese population, increasing number of bariatric surgeries, growing adoption of online weight loss and weight management programs, rise in disposable income in developing economies, sedentary lifestyle, and rising government initiatives for creating awareness among obese populations are primarily expected to drive the weight loss and diet management market in the North American region. The demand for weight reduction and diet management products and services has risen as people's awareness of health and fitness increases. With an ever-increasing number of fitness and slimming centers, the market for products and services is rapidly rising. As a result, more consumers are becoming involved in a better and healthier lifestyle.
Due to the additional processing, low-calorie meals and beverages are often more expensive than high-calorie foods and beverages. A low-calorie product can also contain vitamins and minerals, making it a nutrient-dense food. Most middle and low-income families turn to low-cost alternatives such as acupressure therapy, acupuncture therapy, and Ayurvedic treatments for weight management because high-priced diet foods and beverages, as well as onsite fitness programs, are out of reach. Furthermore, consumers are increasingly turning to free or low-cost alternatives, such as natural weight loss methods such as jogging and brisk walks, free-access online weight-loss regimens, programs, publications, and workout videos.
However, these customers provide little value to the weight loss and weight management market, and the growing popularity of low-cost/no-cost alternatives may limit the market's growth.
This research report on the North American weight loss and diet management market has been segmented and sub-segmented into the following categories:
Geographically, North America dominated the global market in 2020 due to the extensive availability of weight management products and superior service industry participants across the region. In addition, obesity has been more prominent among general consumers in recent years, resulting in a significant increase in healthy foods and dietary supplements in the region. Favorable government actions and funding, improved health membership services, and increased consumer awareness of fitness will most likely drive future regional market expansion.
The United States emerged as the largest market for weight loss and diet management products and services in North America, accounting for more than one-third of global revenues. Meal replacement slimming products and weight reduction pills accounted for most sales. Significant growth in the regional market can be linked to the overweight population's adoption of weight reduction and diet management goods and services and high average consumer disposable incomes. In addition, the economies of the United States and Canada have significantly contributed to the industry's sales in this region. One of the essential reasons driving market expansion in the region has been recognized as desirable fitness, the constant desire to seem slender, and the increasing trend towards individuals embracing a healthy lifestyle.
KEY MARKET PLAYERS:
Companies playing a notable role in the North American weight loss and diet management market profiled in the report are Bayer HealthCare AG, Bioniche Animal Health Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc. and Protein Sciences.
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