Weight Management Market Size, Share & Trends Analysis Report By Function (Diet, Fitness Equipment, Surgical Equipment, Services), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Weight Management Market Summary

According to the Institute of Health Metrics and Evaluation, 30.0% of the world’s population is either obese or overweight. Obesity poses an enormous challenge for the developed countries and the lower & middle-income countries.The overweight and obese population report a high prevalence of chronic diseases including diabetes, hypertension, and orthopedic diseases. Thus, the growing obese population is driving the weight management industry growth. The penetration of childhood obesity is growing throughout the world due to factors such as unhealthy eating habits and a lack of physical activity. The percentage of childhood obesity cases that occurred due to hormonal problems is very low. As per the article published by Narayana Health, India reported about 14.4 million cases of obesity in children, which is the second-highest number of obese children in the world.

The overweight and obese population report a high prevalence of chronic diseases including diabetes, hypertension, and orthopedic diseases. Thus, the growing obese population is driving the weight management industry growth. The penetration of childhood obesity is growing throughout the world due to factors such as unhealthy eating habits and a lack of physical activity. The percentage of childhood obesity cases that occurred due to hormonal problems is very low. As per the article published by Narayana Health, India reported about 14.4 million cases of obesity in children, which is the second-highest number of obese children in the world.

Due to the increasing number of hours in front of televisions and computers, there is a significant rise in inactive hours. Overweight or obese children have higher chances of having chronic diseases at an early age. Increasing consumption of junk food, physical inactivity, and the growing fast-food industry are leading to an unhealthy & sedentary lifestyle, which results in weight gain. In addition, increasingly hectic routines and growing stress are causing people to consume fast foods, which is leading to untoward health effects. Thus, all these factors together are fueling weight management industry growth. Rapid globalization and digitalization are ensuring easier access to information about the repercussions of being overweight.

This is leading to increased awareness about various weight management solutions, such as diet meals, beverages & supplements, exercise, and surgical procedures. An increase in the prevalence of chronic diseases due to rapid urbanization and changing lifestyles has contributed heavily to the growth of the market. People, to avoid getting diseases associated due to a lack of physical activity, are increasingly opting for weight management products and services. The COVID-19 pandemic has had a negative impact on the weight management industry. There was a decline in the sales of products & services as consumers were focusing on the purchase of essential goods.

Moreover, the temporary closure of gyms, fitness centers, health clubs, and sports institutes negatively impacted the market growth. However, online sales increased rapidly in 2020 due to the increased awareness about the importance of having a healthy lifestyle and overall wellbeing. The availability of a wide range of products in different forms including Ready-to-Drink (RTD) beverages, bars, gels, and powders is projected to drive the market. Manufacturers are adding innovative flavors and functional ingredients to enhance the nutritional value of their products. For instance, brands are adding natural ingredients, caffeine, and low-sugar contents to RTD products. For instance, Life Extension, in April 2022, launched Waistline Control, which helps in reducing the waistline.

Function Insights

On the basis of function, the global market has been further categorized into diet, fitness equipment, surgical equipment, and services. The diet segment dominated the market and accounted for the largest share of about 76.30% of the global revenue in 2022. Diet includes meals, beverages, and supplements. Diet is gaining popularity as a solution for weight loss and management in developed as well as developing countries. Meals containing the right amounts of proteins & fibers and a lesser amount of carbohydrates are considered an effective method of weight management.

The trend of customized and personalized diet plans as per the patient’s physiological conditions is encouraging people to opt for diet meals. Beverages, including green tea and slimming waters containing catechins & antioxidants, help in improving metabolism, thereby contributing to the reduction of stubborn fat. The easy availability and high acceptance of these products are expected to drive the growth of the beverage sub-segment during 2023-2030. Supplements include protein mixes, herbal powders, tablets, and capsules. The easy availability of these products is expected to drive the growth of this sub-segment.

Regional Insights

Asia Pacific was the dominant regional market and accounted for the largest revenue share of more than 37.68% in 2022. The regional market is expected to retain its leading position, growing at the fastest CAGR from 2023 to 2030. The market growth is attributed to the growing overweight & obese population and increasing incidence of hypertension & diabetes. In addition, a paradigm shift toward minimally invasive and non-invasive procedures is propelling the weight management industry growth. Other factors responsible for the market growth include the rising awareness about the available alternatives for weight loss and management. The increasing popularity of diet plans and fitness centers is further anticipated to trigger regional weight management market growth.

North America is projected to be one of the fastest growing regions with a 10.45% CAGR during 2023-2030 owing to the alarming rise in obesity cases in the U.S. For instance, as per the data of the CDC, obesity prevalence rate in the U.S. for the years 2017-2018 was 42.4%. The growing sedentary lifestyle along with unhealthy eating habits is causing significant growth in the cases of obesity and related health issues.

This has led to a rising percentage of the population opting for gyms and wellness centers. Moreover, the presence of major market players in North America and the easy availability of products is also expected to drive the regional market. The rising demand for natural, plant-based supplements in North America is further creating opportunities for key players to develop new products. Europe accounted for a considerable revenue share in 2022. Higher consumer awareness and per capita disposable income in developed countries like France, Germany, and the UK are expected to drive the weight management industry over the forecast period.

Key Companies & Market Share Insights

The key participants in the market are devising various strategic initiatives to expand their business footprint and gain a competitive edge in the weight management market. Key players are focusing on strategic initiatives, such as mergers & acquisitions, technological collaborations, partnerships, funding & investments, and innovative product developments & launches to expand their expertise & product portfolio. For instance, 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 agonist. Some prominent players in the global weight management market include:

• Herbalife International, Inc.

• NutriSystem, Inc.

• Weight Watchers International, Inc.

• Glanbia PLC

• Atkins Nutritionals, Inc

• Technogym

• Now Health Group, Inc.

• Johnson Health Tech

• The Kellogg Company

• Nestle SA

• Abbott Laboratories

• Amer Sports

• GNC Holdings, Inc.

• Alticor corporation

Weight Management Market Report Scope

Global Weight Management Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, grand view research has segmented the global weight management market report based on function, and region:

• Function Outlook (Revenue, USD Million, 2018 - 2030)

  • Diet

    • Meals

    • Beverages

    • Supplements

      • Proteins

      • Fibers

      • Green tea extract

      • Conjugate linoleic acid

      • Green coffee

      • L-carnitine

  • Fitness equipment

    • Cardiovascular training equipment

    • Strength training equipment

    • Others

  • Surgical equipment

    • Minimally invasive surgical equipment

    • Noninvasive surgical equipment

  • Services

    • Fitness centers

    • Slimming centers

    • Consultation services

    • Online weight loss service

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait