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The weight loss supplement market is estimated to grow at a CAGR of 6.75% between 2022 and 2027. The size of the market is forecast to increase by USD 2,066.13 million. The growth of the market depends on several factors, including the growing obese population, growing healthcare expenditure, and the growth of online retail stores.
This report extensively covers market segmentation by distribution channel (online stores and retail outlets), type (pills, powder, and liquid), and geography (North America, Europe, Asia, and Rest of World (ROW). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growth of online retail stores is notably driving the market growth, although factors such as the risk of side effects may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Weight Loss Supplement Market Driver
The growth of online retail stores is notably driving market growth. Rising internet penetration has led to increased adoption of online retail and changes in purchasing behavior for nearly all retail products. Ease of shopping, comparison of products and prices from different suppliers, and value-added services such as home delivery are driving the growth of online commerce. Dietary supplements, including weight loss supplements, are also available in various online stores.
With the increasing number of suppliers and their products offered through online platforms, people are more likely to purchase these products through online shops. The consumers can access feedback from existing users of a product to increase their product knowledge and accordingly make better purchasing decisions. Hence, these factors will drive market growth during the forecast period.
Significant Weight Loss Supplement Market Trend
The increasing popularity of plant-based supplements is an emerging trend in the market. A major trend driving the global weight loss market is the increasing acceptance of plant-based weight loss supplements. With increasing environmental awareness and health consciousness, customers are demanding natural and sustainable weight loss solutions. Compared to traditional weight loss supplements, herbal supplements have many advantages. They are free of harmful chemicals and artificial additives and made from natural ingredients like herbal extracts and botanicals, which are thought to have health benefits.
Plant-based supplements are also more environmentally friendly than animal-based supplements because they use fewer resources to produce and are often grown using organic and sustainable agriculture. Additionally, a wider range of customers can afford herbal weight loss supplements over those made from animal products. Hence, the demand for plant-based weight loss supplements is expected to spur the expansion of the market in focus during the forecast period.
Major Weight Loss Supplement Market Challenge
The risk of side effects is a major challenge impeding market growth. The supplements used for weight loss are used for reasons like curbing food cravings, decreasing appetite, increasing the metabolism rate, and others. Owing to their various benefits these supplements are available in many formulations, such as energy bars, tablets, capsules, and health drinks.
However, these supplements in some cases can alter a body's regular metabolism and also cause side effects like an increase in heart rate, high blood pressure, agitation, diarrhea, sleeplessness or insomnia, kidney problems, liver damage, rectal bleeding, and others. Due to such health risks product adoption rates among users are affected. Thus, the risk of these health issues is a major challenge for the growth of the global market.
Key Weight Loss Supplement Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Weight Loss Supplement Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bioalpha Holdings Berhad - The company primarily offers health supplements such as IXIME 400, IXIME SUSPENSION, CETIL 250MG, and Liver Tonic. The key offerings of the company include weight loss supplements.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the online stores segment will be significant during the forecast period. Online stores help customers to compare the products from different companies in terms of quality and associated health benefits before purchasing them.
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The online stores segment was valued at USD 3,277.16 million in 2017 and continue to grow by 2021. As weight loss supplements are associated with health risks, consumers are often unsure whether to try a new product, stay loyal to their existing weight loss supplement products, or switch to another brand. However, due to the increased penetration of online stores, customers can check reviews and feedback provided by existing users of the products, which helps them make well-informed decisions. This will propel the demand for online stores as a distribution channel of the global market and hence, drive the growth of the market in focus during the forecast period.
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North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market for weight loss supplements in North America is being propelled by growing consumer interest in healthier lifestyles and rising obesity-related concerns. North America's biggest market for weight-loss supplements is the US. Various factors, such as rising rates of obesity in the population, increased awareness of the health risks associated with being overweight, and growing demand for natural and organic products, is responsible for the popularity of weight loss supplements. Additionally, a lot of consumers are looking for alternatives to prescription weight-loss drugs because they can have serious side effects. Furthermore, the prevalence of chronic diseases like diabetes, heart disease, and specific types of cancer has increased in tandem with the rise in obesity rates. This will also boost the demand for these products. hence, during the forecast period, such factors are anticipated to fuel the market's growth.
In 2020, the outbreak of COVID-19 had a negative impact on the growth of the weight loss supplement market in North America. However, in 2021, business and industrial activities resumed with the relaxation of stringent lockdown restrictions due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of several countries. The relaxation of such restrictions encouraged people to go for health checkups and treatments, which revived the growth of the regional market. Thus, such factors are expected to propel the demand for weight loss supplements, which, in turn, is expected to boost the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global weight loss supplement market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent, the global pharmaceuticals market, covers products and companies engaged in R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Weight Loss Supplement Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.75% |
Market growth 2023-2027 |
USD 2,066.13 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.5 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 29% |
Key countries |
US, UK, Germany, China, and India |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Ajinomoto Co. Inc., Amway Corp., Bioalpha Holdings Berhad, FANCL Corp., Glanbia plc, GlaxoSmithKline Plc, GNC Holdings LLC, Herbalife International of America Inc., Iovate Health Sciences International Inc., Market America Inc., Nature Sure, Natures Sunshine Products Inc., Nestle SA, Pfizer Inc., Shaklee Corp., Solace Nutrition, True Protein Pty Ltd., Vitaco Ltd., and Wolfson Holdco Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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