[Latest] Global Weight Loss and Weight Management Market Size/Share Worth USD 405.4 Billion by 2030 at a 6.84% CAGR: Growing obesity rate to propel market growth

The global weight loss and weight management market size was valued at USD 224.27 billion in 2021 and is expected to surpass USD 405.4 billion by 2030, registering a CAGR of 6.84% during the forecast period (2022- 2030), as highlighted in a report published by Facts & Factors. The key market players listed in the report with their sales, revenues and strategies are Ethicon Inc., Nutrisystem Ltd., Covidien plc., Johnson Health Tech, Kellogg Company, Apollo Endosurgery, and others, and others.

SAN FRANCISCO, U.S., Feb. 09, 2023 (GLOBE NEWSWIRE) — Facts and Factors has published a new research report titled “Weight Loss and Weight Management Market Size, Share, Growth Analysis Report By Diet (Meal, Supplement, and Beverage), By Service (Fitness Centers, Consulting Services, Slimming Centers, and Online Programs), and By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.

Weight Loss and Weight Management Market Overview:

Obesity is the accumulation of excessive or abnormal amounts of fat in the body which can be harmful in the long term. Overweight and obesity are two different terms. If the body mass index (BMI) is over 25, the person is considered to be overweight. If the BMI value is over 30, the person is suffering from obesity. As per the World Health Organization, obesity or overweight is currently growing at epidemic proportions with over 4 million deaths annually due to the complications arising because of excessive weight.

A growing obesity index is observed in children and adults. Between 1975 and 2016, the obesity rate amongst the age group of 5 to 19 years increased by 4 times. Options to deal with obesity include undergoing various weight-loss procedures or consuming medicines to increase metabolism. The most critical factor that is used to diagnose obesity is BMI which is calculated by multiplying body weight (in pounds) by 703 and dividing the entire number by height (in inches) followed by another division with the height value (in inches). Most of the obese children are from developing nations where the increase rate is more than 30% than the obesity rate in developed countries.

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Report Scope:

Key Insights from Primary Research

• As per the analysis, the weight loss and weight management market share is likely to grow above a CAGR of around 6.84% between 2022 and 2030.

• The Weight Loss and Weight Management market size was worth around US$ 224.27 billion in 2021 and is estimated to hit approximately US$ 405.4 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

• The market is projected to grow at a significant rate due to the growing obesity rate in the world

• Based on diet segmentation, supplement was predicted to show maximum market share in the year 2021

• Based on service segmentation, fitness centers were the leading service providers in 2021

• On the basis of region, Europe was the leading revenue generator in 2021.

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Industry Growth Drivers

The global Weight Loss and Weight Management market is projected to grow due to increasing alcoholism across the globe. Drinking an uncontrolled or excessive amount of alcohol is a leading cause of obesity and there are 4 ways in which alcohol can cause weight gain. It may either stop the body from burning fat, or it can make a person feel more hungry than usual causing overeating. Alcohol is high in kilojoules which means the body is not able to convert it and it turns into fat. It can also cause increased cravings for greasy or salty food items, which are high in calories.

The global market is projected to grow due to an increasing shift in lifestyle habits in people with a sedentary lifestyle ranking at the top of the list. During Covid-19, gymnasiums and other outer activity units were closed, and many people got accustomed to the sedentary lifestyle which was further reinforced by the growing work-from-home or remote culture. Cisco conducted a survey in 2022 in which almost 74% of the respondents said that they preferred working from home instead of going to the office.

Restraints

The global market is projected to face growth limitations due to several misconceptions surrounding weight loss and people looking for easy and quick ways to lose excess fat. In situations where weight gain is due to medical problems or in a genetic concern, the fats are stubborn healthy lifestyle choices along with external medication can be helpful. However, in cases related to lack of exercise, obesity can only be treated or weight loss can be maintained only by developing a consistently healthy lifestyle.

Opportunities & Challenges

The rise in online weight management programs may provide growth opportunities whereas managing lost weight could act as a major challenge.

Weight Loss and Weight Management Market: Segmentation Analysis

The global Weight Loss and Weight Management market is segmented based on diet, service, and region

Based on diet, the global market is segmented into meal, supplement, and beverage. In 2021, the global market registered the highest growth in the supplement segment due to higher demand for external sources of protein. The complex molecule is an essential ingredient for weight loss programs or management since it helps in repairing damaged cells and creating new cells. Proteins are important across gender and age groups. Medical professionals also recommend creating a healthy relationship with meals or diet programs that provide a sufficient quantity of good fats, carbohydrates, fiber, and proteins since all are critical for physical well-being. As per recommended measures, an individual should consume around 0.8 grams of protein per kilogram of body weight, daily.

Based on service, the global market divisions are fitness centers, consulting services, slimming centers, and online programs. The year 2021 was a recovery period for fitness centers as gymnasiums and facilities for outdoor sports slowly started opening up after temporary closure induced by the pandemic. The global market also registered a rise in the number of fitness centers as more units opened up due to growing demand. Online programs generated higher revenue and as per estimated around 83 million, people use fitness applications for weight management.

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Regional Analysis:

North America is anticipated to lead the global Weight Loss and Weight Management market due to the higher accessibility of weight loss programs in terms of standalone physical centers or online programs. Weight loss can be expensive since it requires consuming healthy food products which are relatively more expensive than normal food products.

Growth in Asia-Pacific may be driven by the increasing number of people who are obese or overweight. As of 2019, around 15% of the female population and 10% of the male population were overweight.

Competitive Players

The report contains qualitative and quantitative research on the global weight loss and weight management market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global weight loss and weight management market include;

• Ethicon Inc.

• Nutrisystem Ltd.

• Covidien plc.

• Johnson Health Tech

• Kellogg Company

• Apollo Endosurgery

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Recent Industry Developments:

• In November 2022, the US Food and Drugs Administration provided Mounjaro the designation for FastTrack medicine to treat obesity

• In December 2022, Novo Nordisk announced the launch of a new program called ‘Break the Partnership’ with activities driven toward educating doctors and caregivers about weight management in patients with type II diabetes

The global weight loss and weight management market is segmented as follows:

By Diet

By Service

• Fitness Centers

• Consulting Services

• Slimming Centers

• Online Programs

By Region

• North America

• Europe

  • France

  • The UK

  • Spain

  • Rest of Europe

• Asia Pacific

  • China

  • Japan

  • India

  • Southeast Asia

  • Rest of Southeast Asia

• The Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

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Browse Other Related Research Reports from Facts & Factors

• Weight Loss Diet Market By Type (Green Tea, Better-For-You Food & Beverages, Low-Calorie Sweeteners, Meal Replacements, and Weight Loss Supplements) and By Distribution Channel (Multi-Level Marketing, Small Retail, Large Retail, Health And Beauty Stores, and Online Stores): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

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