Global Weight Loss Market By Diet (Supplements, Meals, and Beverages), By Equipment Type (Fitness Equipment and Surgical Equipment), By Service (Fitness Centers & Health Clubs, Consulting Service, Surgical Clinics, Online Weight Loss Programs, and Others), By Gender (Men and Women), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Weight Loss Market size is expected to be worth around USD 532.5 Bn by 2032 from USD 260.7 Bn in 2022, growing at a CAGR of 7.6% during the forecast period from 2023 to 2032.

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Weight loss is defined as the reduction in body mass and body fat. Weight loss is the loss of total body mass as a result of achievements to develop fitness and health. Weight loss can lead to a decrease in high blood pressure. Intentional weight loss is usually carried out to improve an individual’s health and promote fitness. Weight loss is the major treatment for obesity. Weight loss in individuals who are obese can reduce health risks, and increase fitness. Weight loss is completed by accepting a lifestyle in which fewer calories are consumed than burned.

Market Scope:

Diet Analysis

The Supplements Segment to Witness Significant Growth

Based on diet, the global weight loss market is segmented into supplements, meals, and beverages. The supplements segment accounted for the largest market revenue share of 35% in 2022. Owing to higher demand for external sources. Proteins are important across age groups and gender. Medical professionals also recommended creating healthy diet programs and meals that provide a sufficient quantity of carbohydrates and proteins since these all are essential for physical well-being. Some of the most popular supplements are used to improve nutrition, boost energy and burn fat. Individuals who take supplements get enough essential nutrients to maintain or improve their health.

The beverages segment was dominating during the historical period and is estimated to hold the second largest market share. This is due to the increasing consumer awareness of low-calorie food and beverages in emerging countries and the rising diabetic population. Beverages are best for weight loss.

By Equipment Type Analysis

The Fitness Equipment Segments Dominated the Global Weight Loss Market Growth

Based on equipment, the global weight loss market is divided into fitness equipment and surgical equipment. Among these, the fitness equipment segment is anticipated for the highest market revenue share of 54% in 2022. In addition, individuals are getting more health conscious, hence, the requirement for weight loss equipment and the performance of outside activities have significantly increased. Fitness equipments are classified into different categories such as stationary cycles, treadmills, and elliptical trainers. This fitness equipment helps in weight loss and improves physical strength.

Surgical equipment accounted for the second-largest market revenue share growth during the forecast period. This equipment is used for performing specific or carrying out desired effects during surgery or operation.

By Service Analysis

The Fitness Centers and Health Clubs Segment is Expected to Show Lucrative Growth During the Forecast Period

Based on the service, the global weight loss market is classified into fitness centers and health clubs, consulting service, surgical clinics, online weight loss programs, and others. Among these fitness centers and health clubs segment dominated the market growth and is anticipated to emerge at the highest CAGR during the forecast period. Due to the availability of various fitness facilities and equipment. A fitness center may also provide outdoor activities with features such as a running track and sports playing fields. The social component is an essential secondary function of the fitness centers and is characterized by elements that support fitness goals but also inspire social communication. The Online weight loss programs segment is expected to grow at the fastest CAGR during the forecast period. Individuals are using fitness applications for weight management.

By Gender Analysis

The Women Segment Held the Largest Share During the Forecast Period

Based on gender, the global weight loss market is divided into men and women. The women segment is estimated to be the most lucrative segment during the forecast period. Due to the stressful event like losing a job. During the postpartum weight gain can happen for many reasons. This may be also due to menstruation, kidney failure, and medicines. A rapid weight gain may be a sign of dangerous fluid retention. The men's segment is estimated to hold the maximum revenue share during the forecast period.

Key Market Segments

By Diet

• Supplements
• Meals
• Beverages

By Equipment Type

• Fitness Equipment
• Cardiovascular Equipment
• Strength Training Equipment
• Others
• Surgical Equipment
• Minimally Invasive/ Bariatric Equipment
• Non-Invasive Equipment

By Service

• Fitness Centers and Health Clubs
• Consulting Service
• Surgical Clinics
• Online Weight Loss Programs
• Other Services

By Gender

• Men
• Women

Market Dynamics

Drivers

The increasing number of Weight Loss Surgeries is the Major Factor Drive the Market Growth

Weight loss surgeries are considered the last option for weight loss after exercise, dieting, and other therapeutically prescribed programs. Though, with technological developments, weight loss surgeries have now become less painful for patients. Due to this, these surgeries are now gradually being approved by the medical community as a useful and long-lasting substitute for other weight loss procedures. This factor, combined with the rapidly growing obesity charges, has resulted in a fast rise in the number of weight loss surgeries across the world. Rising government initiatives for creating awareness about weight loss is another significant factor that drives market growth.

The increased incidence of health disorders such as cardiovascular disease, diabetes, and cancer has adopted the approval of weight loss. Increasing customer demand for weight loss products has encouraged market players to launch novel innovative products for their better position in the global market, which is another key factor that propels the market growth. In addition, weight loss also offers various health benefits such as reducing blood pressure and minimizing the risk of heart disease. The increasing obese population drives market growth.

Restraints

High –Cost Related with Low-Calorie Food & Beverages to Limit the Market Growth

High costs related to low-calorie food and beverages, side effects of weight loss supplements such as liver damage, and adverse effects of weight loss surgery are a few factors hampering the market growth. The strict regulatory guidelines for the weight loss industry face challenges in adhering to regulatory guidelines for marketing and producing weight loss products, particularly nutritional supplements.

Opportunity

The Increasing Number of Childhood Obesity

Childhood obesity is increasing globally owing to minor outdoor activity and unhealthy eating habits. The conditions where childhood obesity is generated due to hormonal imbalance are significantly low. As many kids spend a substantial amount of time in front of the TV and playing video games. However, the necessity for more nutritious and balanced diets is estimated to grow worldwide. It will deliver significant growth opportunities for beverage market players in the weight loss market.

Trends

Rapid Rise in New Nutrition Business Models is the Significant Trend in the Global Weight Loss Market

Weight loss products designed to tackle the public health challenges of obesity are in demand. Along with a more active lifestyle and healthy diet, brand owners are connecting inventions and scientifically led technologies to introduce novel products. In the upcoming years, there are various important trends in the globe that are set to influence how weight loss products are formulated, develop, and marketed. Increasing awareness among consumers regarding the side effects of unhealthy eating is contributing to market growth.

COVID-19 Impact Analysis

COVID-19 Pandemic Has Positive Impact on the Market

The COVID-19 pandemic positively impacted the global weight loss market. Owing to the increased awareness among individuals during the pandemic period.  Individuals found a lot of motivation and inspiration from social media channels and online media.

Regional Analysis

North America Region Accounted for the Significant Share of the Global Weight Loss Market

North America accounted for a significant market share of 35.6% during the forecast period, owing to the high incidence of obesity, increasing health consciousness among consumers, and increasing disposable income.  The growth of the region is attributed to the increasing geriatric and adult population, largely consuming appetite supplements, and weight management medications to support optimum body and well-being in the region. Due to the improving strategies implemented by the key players to rise product accessibility, the region is estimated to grow at the fastest CAGR during the forecast period.

Europe is projected to grow at a CAGR of 9.8% during the forecast period. Due to the rising number of products and services in this region. Increasing disposable income and the rising concern among individuals drive the growth of the European region.  The Asia-Pacific is expected to show the highest growth in the region. due to the increase in the number of fitness centers. An increasingly sedentary lifestyle combined with unhealthy dietary habits is leading to a major growth in the cases of obesity.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Major market players operate in a highly competitive market and are continuously working to gain an edge over the companies. Various market strategies adopted by this key prominent player include acquisitions & mergers, collaborations, partnerships, and product invention. Marketing is also an important strategy in the weight loss market. One of the significant factors adopted by manufacturers in the weight loss industry is to expand their production capacity and approve innovative technologies in order to meet consumer demand. various prominent key players in the market include Herbalife Nutrition Ltd., Nestle, Good Food Company, Jenny Caring Inc., PepsiCo, Gold’s Gym International, Inc., Nutrisystem, Inc., Cargill Inc., Gold’s Gym International Inc., and other key players.

Recent Development

• January 2022- Solace Nutrition, a US-based medical nutrition company developed the properties of R-Kane Nutritionals for an undisclosed amount. This achievement benefits Solace Nutrition to produce synergy among both brands and enhance its growth while providing a presence in an adjacent nutrition market.
• October 2020- Meticore has introduced a novel weight-loss product for both women and men. The supplement helps in metabolism development by increasing the temperature of interior cells, resulting in metabolism regeneration.

The following are some of the major players in the global weight loss industry

• Good Food Company
• Herbalife Nutrition Ltd.
• Nestle
• Glanbia plc
• Amway Corp
• Kellogg Company
• Abbott
• GlaxoSmithKline plc
• PepsiCo
• Atkins Nutrionals, Inc.
• Nutrisystem Inc.
• Jenny Caring Inc.
• Johnson Health Technology Co, Ltd
• Gold’s Gym International, Inc.
• Herbalife International, Inc.
• Brunswick Corp.
• Meticore
• Solace Nutrition
• Apollo Endosurgery Inc.
• Cargill Inc.
• Ingredion Inc.
• Brunswick Corporation
• Medifast Inc.
• Gold’s Gym International Inc.
• Other Key Players

Report Scope