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The global weight loss supplement market size is estimated to grow by USD 1.53 billion, at a CAGR of 4.96% between 2023 and 2028. The global healthcare cost per person is expected to more than double by 2040. This will be due to the increase in the price of medical devices, healthcare consultations, and the cost of therapy and pharmaceutical products. The increase in expenditure will be driven principally by upper-middle-income countries. The per-person expenditure on healthcare in China is expected to increase by more than 700% by 2040. The increase in healthcare expenditure over the last five years has been driven by increased spending on outpatient facilities and long-term care. Similarly, according to World Bank data, the significant rise in healthcare expenditure contributes to the total GDP percentage of a country. Due to steady growth in economic conditions and related growth in GDP, healthcare expenditure has also risen during the last two decades. These factors are expected to drive the growth of the market during the forecast period.
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The market share growth by the online stores segment will be significant during the forecast period. The Weight Loss Supplement market expansion is driven by the rise of online stores in the boutique fitness industry. Consumers, particularly those with health concerns such as Diabetes, Cardiovascular Diseases (CVDs), Hypertension, and Obesity, can compare products from various brands based on safety & efficacy and user reviews. This aids in informed business decisions and growth strategies. The market caters to various segments, including pills and powders, used by gym members and the middle-class population striving for a healthy lifestyle.
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The online stores were the largest segment and were valued at USD 3.36 billion in 2018. However, obstacles like potential health risks, such as cardiac arrest and stroke, associated with weight loss supplements, pose challenges. MDPI study reveals the impact of the pandemic on the market, with an increase in the obese population seeking perfect body physique through supplements. Strategic alliances and meal replacement liquids are also part of the market's upstream and downstream processes. Household income and unhealthy diet are other influencing factors. The Pills segment and Pills type segment dominate the market, with growing demand from the working class population.
The market caters to the Middle-class and obese population's desire for a Perfect body physique. Businesses in this sector offer various forms, including capsules and powders, such as pills and meal replacement liquids. Caffeine, green tea extract, and Garcinia cambogia are common ingredients. However, the safety and efficacy of these supplements remain debated due to potential risks like cardiac arrest and strokes, particularly for those with CVDs, Diabetes, Hypertension, and Obesity. The pandemic's impact on the fitness industry, including Gyms, Health clubs, and Fitness centers, has presented obstacles for upstream suppliers and downstream distributors. Business decisions and growth strategies rely on strategic alliances and understanding the population's household income and unhealthy diet habits. The Pills segment and Powders segment dominate the market, with companies competing fiercely for market share. Dieticians and cardiologists continue to advise caution, emphasizing the importance of a healthy lifestyle and balanced meals.
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North America is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The Weight Loss Supplement market in North America is experiencing significant growth due to increasing consumer focus on healthy lifestyles and concerns regarding obesity-related health issues. The US holds the largest market share, while Canada is expanding albeit more gradually. The FDA regulates this market in the US. Factors such as rising obesity rates, health risks, and demand for natural products are driving market growth. The Boutique fitness industry and its members, particularly the middle-class and working population, are key consumers.
In addition, business decisions and growth strategies prioritize safety & efficacy, with offerings including capsules, pills, and powders in the Pills and Powders segments. Obstacles include cardiac arrest, CVDs, diabetes, hypertension, and stroke risks associated with unhealthy diets and sedentary lifestyles. MDPI study reveals the pandemic's impact on weight gain and subsequent supplement usage. Strategic alliances with dieticians, fitness centers, gyms, and health clubs are crucial. The market caters to the obese population, offering meal replacement liquids and other supplements. Upstream, the market relies on raw material suppliers and downstream, it serves the end-users.
Companies 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. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories - The company provides options such as Ensure Plus and Ensure Care to help manage and maintain weight loss.
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.
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses various product categories, including meal-replacement liquids and powders, capsules, and tablets. This market caters to the Middle-class population and the obese population, who are seeking effective solutions for managing conditions such as Diabetes and Obesity, which are major risk factors for Cardiovascular Diseases (CVDs) and cardiac arrest. Dieticians play a crucial role in recommending weight loss supplements to their clients, ensuring they adhere to regulatory frameworks. A recent MDPI study highlighted the efficacy of meal replacement liquids and powders in promoting weight loss and improving overall health. The Powders segment is expected to dominate the market due to its convenience and versatility. The Fitness centers industry also contributes significantly to the market growth by offering weight loss supplements as part of their wellness programs. Weight loss supplements, such as meal replacement liquids and powders, are essential tools for managing weight and improving health outcomes. These supplements provide essential nutrients while limiting caloric intake, making them an attractive option for individuals looking to lose weight and reduce their risk of developing CVDs. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing obese population is notably driving market growth. The obesity epidemic is a significant global health issue linked to behaviors and chronic conditions, including diabetes, hypertension, and cardiovascular diseases (CVDs). The US has had the highest obese population in the past two decades, driven by sedentary lifestyles and unhealthy diets. The focus on healthy living has led to growth in the boutique fitness industry, with businesses implementing strategies such as meal replacement liquids and capsules or powders in their offerings. The middle-class population and working class are key targets for weight loss supplements, including pills and powders.
However, safety and efficacy remain obstacles, as these supplements may interact with underlying health conditions like diabetes or cardiac arrest. The pandemic has further impacted the market, with gym closures and increased household income potentially influencing business decisions. Strategic alliances between fitness centers, gyms, health clubs, and dieticians may help overcome these challenges. The MDPI study highlights the importance of addressing obesity and its related conditions through a multi-faceted approach.
The rise in promotional and marketing activities is an emerging trend shaping market growth. In the weight loss supplement market, vendors employ innovative business strategies to boost product visibility and sales. These approaches cater to individuals seeking to maintain a healthy lifestyle while enjoying their preferred diet. Concept selling is a key tactic, emphasizing the benefits of fitness and weight loss. The market encompasses various segments, including capsules and powders, which are safe and effective solutions for addressing conditions like Obesity, Diabetes, Cardiovascular Diseases (CVDs), Hypertension, and Stroke. Boutique fitness industry collaborations and strategic alliances are essential for growth. Downstream channels include Fitness centers, Gyms, and Health clubs, where Gym members and the obese population seek assistance. The pandemic's impact has presented obstacles, but the middle-class population's increasing household income continues to drive demand for meal replacement liquids and pills.
Upstream, companies design and manufacture these supplements, ensuring safety and efficacy. Business decisions revolve around catering to the needs of various population segments, including those with unhealthy diets and those at risk of conditions like obesity or overweight. The pills segment, specifically, has gained popularity due to its convenience and ease of use. MDPI studies and other research highlight the importance of these supplements in promoting a healthy lifestyle and addressing conditions related to an unhealthy diet. Despite the challenges, the weight loss supplement market continues to grow, offering opportunities for vendors to make a positive impact on people's lives.
Marketing of weight management products is a significant challenge hineirng marje growth. The Weight Loss Supplement market faces various obstacles in the boutique fitness industry. Business decisions and growth strategies must consider stringent guidelines, particularly for herbal supplements like Curcumin. The FDA cautions against products promising quick weight loss results or using guaranteed language. The middle-class population and obese population are primary targets, with a growing interest in a healthy lifestyle. However, safety and efficacy concerns persist, especially with the emergence of synthetic Curcumin. The Pills segment and Powders segment dominate the market, but business alliances are crucial for success.
Further, the pandemic has impacted Gym members and Health club attendance, leading to an increased focus on meal replacement liquids and other alternatives. Cardiovascular Diseases (CVDs), Diabetes, Hypertension, and Stroke are significant health concerns for the obese population. Household income plays a role in accessibility, and the working class is a significant demographic. An MDPI study highlights the importance of dieticians and downstream partnerships. Unhealthy diet and sedentary lifestyles contribute to the prevalence of obesity and overweight.
The market 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.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is a significant industry, driven by the increasing global obesity rates and the growing awareness of health and fitness. Fitness and body shaping are major trends in this market. Consumers are looking for effective and safe weight loss solutions, leading to an increase in demand for various types of weight loss supplements. These supplements include capsules, powders, and liquids, which contain ingredients such as green tea extract, garcinia cambogia, and caffeine. The market is diverse, with various players offering different product ranges and marketing strategies. Companies are focusing on innovation and research to develop new and effective weight loss supplements. The market is also witnessing the entry of several new players, making it competitive.
In addition, the market is expected to grow significantly in the coming years due to the increasing health consciousness and the rising demand for quick weight loss solutions. The market is also being driven by the availability of various weight loss supplements in different forms and the increasing acceptance of these supplements as a viable weight loss solution. In conclusion, the market is a dynamic and growing industry, driven by the increasing demand for effective and safe weight loss solutions. The market is diverse and competitive, with various players offering different product ranges and marketing strategies. The market is expected to grow significantly in the coming years due to the increasing health consciousness and the rising demand for quick weight loss solutions.
In the wake of the pandemic, fitness centers and health clubs have faced unprecedented challenges, with overweight and obesity rates on the rise. However, amidst adversity lies opportunity. By embracing innovative strategies, such as diversifying into the vitamins and minerals segment, these centers can tap into a growing market seeking preventive health solutions. Simultaneously, collaborating with weight loss supplement manufacturers can offer tailored products to meet the evolving needs of clients. Through a comprehensive approach that blends fitness, nutrition, and supplementation, businesses can not only survive but thrive in the post-pandemic era, championing holistic wellness for all.
Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.96% |
Market Growth 2024-2028 |
USD 1.53 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.64 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 52% |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, market trends, market growth and forecasting, Market forecasting, market forecast, Market Positioning of Companies, 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, 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. |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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