Market Research Report
Weight Management Market - Forecasts from 2022 to 2027
|Weight Management Market - Forecasts from 2022 to 2027|
Published: April 29, 2022
Knowledge Sourcing Intelligence
Content info: 124 Pages
Delivery time: 1-2 business days
The weight management market is expected to grow at a compound annual growth rate of 6.32% over the forecast period to reach a market size of US$325.283 billion in 2027, from US$211.868 billion in 2020.
This market comprises various segments like special diets, equipment, and services that separately or combine help in the weight management of people.
Over the years, the changing living patterns and habits have driven us towards the need to adopt a healthy living style. People are becoming more conscious about their health and being, which is expected to drive the demand for the weight management market. Besides that, growing concerns about the high rate of obesity and cardiovascular diseases have propelled people to opt for healthy practices, which holds a great opportunity for the weight management market.
Some of the restraints for the market include a high cost of equipment and special diets offered under weight management programs. Also, regulations related to dietary supplements and other weight management diet products due to the possibilities of health effects can affect the market growth in the long run.
Urbanization and development have severely affected the dietary and living patterns of the people. With the high consumption of junk food, low physical workout, increasing consumption of tobacco, smoking, etc., problems like obesity and CVDs have increased significantly over the years. Obesity is a disease that arises from the excessive accumulation of fat inside the body. This problem arises when the calorie intake by the body severely exceeds the calorie burned by it. According to WHO, obesity has nearly tripled since 1975, and around 39 million children under the age of 5 were obese or overweight in 2020. These concerns are alarming and thereby call for weight management adoption. If not controlled, Obesity can give rise to several diseases like cardiovascular diseases, high blood pressure, dyslipidemia, diabetes, hypertension, sleep disorders, and certain cancers as well. This is a major concern because cardiovascular disease is the leading cause of death around the globe. According to WHO, CVDs take around an estimated 17.9 million lives each year which nearly makes up 32% of the deaths worldwide.
With the growing literacy rate and increasing awareness programs by the governments, NGOs, and other public institutions, the weight management market is expected to drive in the coming years.
Growing pollution, health effects from active and passive smoking, lack of physical workout, hectic urban life, etc., have laid the people's focus on physical maintenance and healthy aging. With the growing disposable income, people have started adopting weight management diets and workouts and have become more aware of self-care, and these factors combined are expected to give a boost to the weight management market.
Artificial Intelligence has become a part of almost every sector and industry around the globe, and its inclusion in weight management is something noteworthy. Weight management-specific companies today are focusing on the power of AI to deliver easy to adapt weight-management mechanisms. These AI-powered programs tend to become popular among the people with the growing advancement. For instance, recently, CSIRO Total Wellbeing Diet launched Hope, an AI weight loss coach that uses psychological techniques to motivate people during workouts and diets. Therefore, including AI in this market holds an excellent perspective for the weight management market development.
It has been observed that special diets like low-carb diets, ketogenic diets, low-fat diets, etc., mapped by the companies are generally very expensive. These diets include particular vitamin and protein products that are generally expensive and difficult to be purchased by lower and middle-income people. To substitute for the loss, these people opt for free and low-cost weight management techniques like walks, jogging, exercise, Ayurveda, yoga, etc. This is expected to create some restraints for the market in the coming years.
Currently, the weight management market stands a chance to apply stringent regulations to keep a regular check on the market. This is because, in the past, several fraud diets, supplements, and food meals that claimed to reduce the weight of people showed many side effects as well like nausea, headache, allergies, etc. This has called for the need to strictly regulate the market, which can hamper the market growth as well.
Impact of COVID-19 Pandemic on the Weight Management Market:
With the onset of the pandemic across the globe, health awareness and personal care among the people increased drastically. Besides the adoption of hygiene practices, people started to focus on their health and immunity as well, which increased the demand for a healthy, vitamin and protein-rich diet. This provided aid to the growth of the Weight Management Market as people started to lay focus on several dietary supplements, beverages, and other ways to remain fit.
Food and Meals
Online Weight Programs
Middle East and Africa