The size of the global weight loss and diet management market is projected to value USD 2992.9 Million by 2026 from USD 2092.5 Million in 2021, growing at a CAGR of 7.42% during the forecast period.
Maintaining weight at a healthy level can be challenging for some people due to the body's complex genetic system. In addition, medical conditions, lifestyle, and diet, among others, are some of the factors that may contribute to weight gain in people. As per the World Health Organization, the obese population has doubled since 1980. In 2014, approximately 13% of the world’s population was more than 600 million adults were obese. Additionally, obesity is linked to more deaths worldwide than underweight. However, obesity is preventable, and diet changes coupled with fitness/physical activities can help cut down extra fat. Severe obesity can be treated through weight loss surgery (Gastric Bypass Surgery and Laparoscopic Sleeve Gastrectomy).
The growth of the global weight loss and diet management market is majorly driven by factors such as the increasing obese population, companies' promotional strategies, rise in disposable income, affordable cost of surgeries, and an increase in a diabetic population.
Furthermore, people's growing health and wellness concerns are also fuelling the demand for the Weight Loss & Diet Management Market. Also, child obesity has increased manifold over the years, spiking up the need for the product in the market. According to the Childhood Obesity Foundation, 42 million infants and young children were obese or overweight in 2013. It is anticipated that the number of obese children may alarmingly rise to 70 million by 2025.
Additionally, the other factors that should stimulate the market for weight loss and weight management are increasing the obese population, increasing the number of bariatric surgeries, growing adoption for weight loss and weight management programs, increasing disposable income in developing economies, sedentary living, and growing government initiatives to educate obese people. Furthermore, the increasing number of bariatric surgeries in major markets worldwide is expected to increase bariatric surgery equipment and other products needed for these procedures.
The prevalence of childhood obesity is increasing worldwide due to a lack of physical activity and unhealthy eating habits. Cases of childhood obesity due to hormonal problems are sporadic. In children, the total number of hours of inactivity increases as they spend a lot of time watching television and playing computer games. Overweight or obese children are more likely to be obese as adults and are more prone to developing diabetes and cardiovascular disease early. Worldwide, the number of overweight children (under five years) is estimated to be more than 41 million; about half of these children live in Asia. As a result of this trend, the demand for healthier diets is expected to increase worldwide. It is expected to provide significant growth opportunities for actively operative stakeholders in the market for weight-loss products and services.
The market's key restraints are expensive low-calorie food & beverages, misleading promotional strategies, adverse effects of weight-loss supplements (liver damage), and side effects of weight-loss surgery (dizziness, nausea, bowel obstruction, and diarrhea).
Despite less stringent regulatory guidelines, the weight loss and weight management industry faces challenges in adhering to regulatory guidelines for producing and marketing weight-loss products, particularly nutritional supplements. Because of the additional processing required for low-calorie products, low-calorie foods and beverages are generally more expensive than high-calorie foods. Besides, a low-calorie product contains nutrients such as vitamins and minerals, making the diet rich in nutrients. These factors add little value to the weight loss and weight management market, and the increasing adoption of low-cost/no-cost alternative products may slow down the growth of this market.
Impact of COVID-19 on the global weight loss and diet management market:
The emergence of COVID-19 has positively impacted the global weight loss and diet loss management market. As a result, people are becoming more health-conscious and unable to perform outside activities, the demand for weight loss supplements, including green tea, has increased. Furthermore, as a result of the increased COVID-19 outbreak, nearly 88 percent of companies have encouraged their employees to work from home, resulting in a significant decrease in people's physical activity, resulting in weight gain and related problems, which is expected to propel the global weight loss and obesity management market growth over the forecast period.
Both COVID-19 patients and those on the road to recovery rely heavily on nutrition. The body gets weakened during COVID-19, and the effects last for days after the symptoms have subsided. As a result, consuming the right sort of food is critical for a complete and quick recovery. The main goal of a COVID patient's diet is to eat items that will help them rebuild muscle, immunity, and energy. Complex carbohydrates are abundant in whole grains, including ragi, oats, and amaranth. Protein-rich foods include chicken, fish, eggs, paneer, soya, almonds, and seeds. During these days, healthy fats such as walnuts, almonds, olive oil, and mustard oil are advised. In addition, turmeric milk should be had once a day to enhance one's immunity. However, the Weight Loss and Diet Management Market is quickly reaching its pre-COVID levels. A healthy growth rate is expected to be driven by the V-shaped recovery in most developing nations.
Market Size Available
2020 to 2026
2021 to 2026
By Type, Production Technologies, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global weight loss and diet management market segmented and sub-segmented based on the type, production technologies, and region.
Weight Loss and Diet Management Market - By Diet:
Based on diet, the food & beverages segment is expected to account for the most prominent share in the global market during the forecast period. The segment growth is fuelled by the growing consumer awareness of low-calorie foods and beverages in developing countries and the rising population of obese people in the APAC region.
Weight Loss and Diet Management Market - By Equipment:
The fitness training equipment segment is projected to witness significant growth during the forecast period based on the equipment. In addition, people are getting more health-conscious; therefore, the demand for weight loss supplements and the performance of outside activities have been significantly increased.
Weight Loss and Diet Management Market - By Services:
Based on the services, the consulting services segment is expected to grow significantly during the forecast period. The segment growth is primarily attributed to the increasing prevalence of obesity, growing health concerns, and raising awareness about maintaining healthcare. However, in the recent period, increasing applications, rising number of online programs, demand for preventing healthcare conditions such as diabetes and heart diseases are influencing the market growth.
Weight Loss and Diet Management Market - By Region:
Regionally, North America is anticipated to have the largest share in the global weight loss and weight management market over the forecast period, followed by the European region. Factors such as increased incidence of obesity and chronic diseases, increased awareness of nutrition and healthy lifestyles, rising number of gyms, and increased disposable income support this weight loss and diet management market.
Asia Pacific is the third most significant weight loss and weight management market and is likely to have the highest CAGR over the forecast period. The factors contributing to this growth are the rise in the population of obese people, an increase in the prevalence of diabetics, increasing awareness to take care of personal health, unhealthy lifestyle of people in this region, increase in disposable income, and a low cost of bariatric surgery in the area.
NOTABLE COMPANIES IN THE MARKET:
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 significant companies in the global weight loss and diet management market.
RECENT MARKET HAPPENINGS:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1.1 Food & Beverages
184.108.40.206 Organic Food
220.127.116.11 Low-Calorie Sweeteners
18.104.22.168 Low-Calorie Beverages & Diet Soft Drinks
22.214.171.124 Herbal Tea & Green Tea
5.1.2 Diet Supplements
126.96.36.199 Proteins & Fibers
188.8.131.52 Conjugated Linoleic Acid
5.1.3 Y-o-Y Growth Analysis, By Product
5.1.4 Market Attractiveness Analysis, By Product
5.1.5 Market Share Analysis, By Product
5.2.1 Fitness Training Equipment
184.108.40.206 Benches and Racks
220.127.116.11 Fitness Monitoring Equipment
5.2.2 Surgical Equipment
18.104.22.168 Minimally Invasive/Bariatric Surgical Equipment
22.214.171.124.1 Gastric Bypass Surgery
126.96.36.199.2 Laparoscopic Sleeve Gastrectomy
188.8.131.52 Non-Invasive Surgical Equipment
184.108.40.206.1 Intragastric Balloon Systems
220.127.116.11.2 Endoscopic Suturing Equipment
5.2.4 Y-o-Y Growth Analysis, By Type
5.2.5 Market Attractiveness Analysis, By Type
5.2.6 Market Share Analysis, By Type
5.3.1 Fitness Centers
5.3.2 Consulting Services
5.3.3 Y-o-Y Growth Analysis, By Application
5.3.4 Market Attractiveness Analysis, By Application
5.3.5 Market Share Analysis, By Application
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 By Indication
6.1.4 Market Attractiveness Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Type
126.96.36.199 By Application
188.8.131.52 By Indication
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Type
22.214.171.124 By Application
126.96.36.199 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Kellogg Company
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Atkins Nutritionals, Inc.
8.3 Herbalife Ltd.
8.4 NutriSystem, Inc.
8.5 Johnson Health Technology Co., Ltd.
8.6 Ethicon, Inc.
8.7 Weight Watchers International, Inc.
8.8 VLCC Healthcare Ltd.
8.10 Olympus Corporation
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities