PUBLISHER: The Business Research Company | PRODUCT CODE: 1425931
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425931
Weight Loss and Diet Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on weight loss and diet management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for weight loss and diet management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The weight loss and diet management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Weight loss and diet management involve the process of reducing body mass and body fat to achieve weight loss. Diet management, on the other hand, focuses on promoting a healthy lifestyle through careful food choices for individuals or communities. Qualified experts diagnose nutritional issues and provide effective treatment to support overall well-being. These practices aim to enhance strength, reduce stress, maintain a balanced mood, improve social life, boost the immune system, and provide various other health benefits.
The major components in weight loss and diet management include better-for-you foods and beverages, weight loss supplements, meal replacements, and low-calorie sweeteners, among others. Foods and beverages in this context can include items with no, low, or reduced calories, such as flavored waters, diet sodas, and health-focused foods like yogurt and whole-grain cereals. Various equipment, including fitness equipment and surgical tools, are employed in the process. Services are provided through fitness centers, health clubs, slimming centers, commercial weight loss centers, consulting services, and online weight loss programs. Applications for these practices encompass small retail, online distribution, multilevel marketing, large retail, and health and beauty stores.
The weight loss and diet management market research report is one of a series of new reports from The Business Research Company that provides weight loss and diet management market statistics, including weight loss and diet management industry global market size, regional shares, competitors with a weight loss and diet management market share, detailed weight loss and diet management market segments, market trends and opportunities, and any further data you may need to thrive in the weight loss and diet management industry. This weight loss and diet management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The weight loss and diet management market size has grown strongly in recent years. It will grow from $27.76 billion in 2023 to $29.66 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth observed in the historical period can be attributed to several factors, including the increasing awareness of health, the rise in sedentary lifestyles, the prevalence of lifestyle diseases, educational programs focused on nutrition, government initiatives for public health, and the convenience offered by various weight loss solutions. These factors collectively contributed to the expansion of weight loss and diet management practices during the historical period.
The weight loss and diet management market size is expected to see strong growth in the next few years. It will grow to $39.39 in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to several factors, including the rising demand for vegan and vegetarian diets, increased adoption of telehealth services, a focus on sustainable and long-term weight loss solutions, innovations in meal replacement products, the use of genetic testing for personalized nutrition, and the emergence of online health communities. Major trends expected in the forecast period include the digitalization of weight loss programs, a shift towards personalized nutrition and diets, the integration of artificial intelligence (AI) and machine learning in diet planning, the provision of virtual coaching and telehealth services, the integration of health apps with wearables for comprehensive health monitoring, and the influence of social media on diet trends.
The anticipated rise in bariatric surgeries is poised to significantly drive the growth of the weight loss and diet management market. Bariatric surgery encompasses various procedures aimed at modifying the digestive system to aid weight loss. By altering the stomach and small intestine's functionality in food processing, these surgeries contribute to substantial weight reduction. Notably, data from the American Society for Metabolic and Bariatric Surgery (ASMBS) in June 2022 revealed a notable surge, with approximately 262,893 bariatric surgeries conducted in 2021, a marked increase from 198,651 procedures previously. Consequently, the upsurge in bariatric surgeries emerges as a pivotal factor fueling growth within the weight loss and diet management market.
The escalating prevalence of obesity is expected to be a key driver propelling the expansion of the weight loss and diet management market. Obesity, characterized by excessive body fat accumulation, poses significant health risks. Weight loss strategies and effective diet management play crucial roles in mitigating and addressing obesity, thereby improving overall health and well-being. Data from the UK Government Digital Service in May 2023 projected a concerning rise in obesity rates in England, estimating a 25.9% prevalence among individuals aged 18 and above in 2021-2022, marking a considerable 25.2% increase. Consequently, the mounting prevalence of obesity stands as a driving force behind the burgeoning weight loss and diet management market.
Technological advancements have emerged as a prominent trend shaping the landscape of the weight loss and diet management market. Key market players are actively engaged in developing cutting-edge technologies to fortify their market standing. For instance, in February 2021, Performance Health Systems, a US-based technology provider specializing in weight loss and management solutions, introduced the Personal Power Plate featuring whole-body vibration technology. This innovative technology promises accelerated and more effective outcomes across various fitness levels, irrespective of physical limitations. Its unique features enable exercises like squats, planks, and lunges on the vibrating power plate, enhancing the efficiency and expediency of achieving fitness goals and weight loss compared to traditional training methods alone.
Prominent players within the weight loss and diet management market are intensifying their focus on innovative products, notably zero-calorie sweeteners and 50% reduced-calorie sugars, to drive market revenues. These sugar alternatives function as substitutes in various food and beverage products, providing sweetness without significantly increasing calorie intake. For instance, in June 2023, SweetLeaf, a division of Wisdom Natural Brands in the US, unveiled a range of zero-calorie sweeteners and 50% reduced-calorie sugars. The SweetLeaf indulge zero-calorie all-purpose sweeteners serve as a 1:1 sugar substitute specifically formulated to replicate sugar's browning effect in baking. These substitutes play a pivotal role in reducing overall sugar content in food and beverages, catering to diverse dietary preferences and restrictions, including low-carb, ketogenic, and low-sugar diets.
In a strategic move during February 2022, Nestle Health Science, a Switzerland-based company specializing in medical nutrition, active lifestyle nutrition, and pharmaceutical solutions, completed the acquisition of PronoKal for an undisclosed sum. This acquisition significantly bolsters Nestle's weight management portfolio, expanding its capabilities to facilitate healthier lifestyles for a wider populace. PronoKal Group, based in Spain, specializes in medical weight-loss treatments and diet management utilizing Protein Diet methodologies. This acquisition is poised to augment Nestle Health Science's existing weight management programs, enabling the company to offer more comprehensive and diversified solutions within the weight loss and diet management market.
Major companies operating in the weight loss and diet management market report are Weight Watchers International Inc., Nutrisystem Inc., Kellogg Company, Herbalife Ltd., Ediets.Com Inc., Apollo Endosurgery Inc., Medifast Inc., Ethicon Inc., Atkins Nutritionals Inc., General Mills Inc., Amer Sports Corp., Health Total, Fitelo, Pulse Nutri Science Private Limited, Brunswick Corp., Life Extension Foundation, Covidien PLC, Jenny Craig Inc., Slimming World Ltd., Herbal Magic LLC, LA Weight Loss Inc., WeightNot LLC, Diet Center Group, Physicians Weight Loss Inc., Lindora LLC, Quick Weight Loss Centers LLC, The Camp Transformation Center, The Biggest Loser Resort, Noom Inc., MyFitnessPal LLC, The Beachbody Company Inc., FitNow Inc.
North America was the largest region in the weight loss and diet management market in 2023. The regions covered in the weight loss and diet management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the weight loss and diet management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The weight loss and diet management market consists of revenues earned by entities by providing weight loss services such as gyms, club facilities, aerobic centers, yoga centers, endurance exercises, and other services. The market value includes the value of related goods sold by the service provider or included within the service offering. The weight loss and diet management market also include sales of dietary products such as whole eggs, salmon, tuna, beans and legumes, green tea, black tea, apple cider vinegar drinks, and other products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.