Weight Loss Supplements Global Market Report 2024

Weight loss supplements are dietary supplements designed to aid in weight loss by inhibiting fat or carbohydrate absorption, reducing appetite, or increasing metabolism. However, there is limited scientific evidence supporting the effectiveness of these supplements. They work by boosting metabolism and thermogenesis while reducing macronutrient absorption, appetite, body fat, and overall weight.

Weight loss supplements come in various types, including liquid, powder, softgels, pills, and others. Softgels are customized capsules used as an oral dosage form for medications. The shells of softgels typically consist of water, an opacifier, and a plasticizer such as glycerin or sorbitol. The ingredients found in weight loss supplements often include vitamins and minerals, amino acids, and natural extracts or botanicals. These supplements are used by individuals across different age groups, including those under 18 years, between 18 and 40 years, between 40 and 50 years, and over 50 years. They are distributed through both offline and online channels.

The weight loss supplements market research report is one of a series of new reports from The Business Research Company that provides weight loss supplements market statistics, including weight loss supplements industry global market size, regional shares, competitors with a weight loss supplements market share, detailed weight loss supplements market segments, market trends and opportunities, and any further data you may need to thrive in the weight loss supplements industry. This weight loss supplements market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The weight loss supplements market size has grown rapidly in recent years. It will grow from $38.38 billion in 2023 to $43.14 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to increasing health consciousness, changing lifestyles and diets, rising obesity rates, media and celebrity influence, as well as product innovation and marketing efforts.

The weight loss supplements market size is expected to see rapid growth in the next few years. It will grow to $67.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The expected growth in the forecast period is driven by a continued focus on health and fitness, a trend towards preventive healthcare, the adoption of personalized nutrition solutions, the rise of e-commerce and direct-to-consumer trends, and supportive regulatory frameworks and compliance. Major trends anticipated in this period include a holistic approach to weight management, marketing strategies emphasizing health benefits, greater transparency and clean labeling in products, collaboration with the fitness and wellness industries, and an increased focus on sustainable and eco-friendly practices.

The weight loss supplements market is experiencing growth due to the increasing prevalence of obesity. Obesity, characterized by excessive fat accumulation that can negatively impact health, has become a significant global health concern. As the obese population continues to grow, there is a rising demand for weight loss supplements as individuals seek healthier options for managing their weight. For instance, according to the World Health Organization (WHO), the global obesity rate has surpassed 1 billion, with 650 million adults, 340 million adolescents, and 39 million children affected. By 2025, it is estimated that 167 million individuals, including both adults and children, will face health challenges due to being overweight or obese. This trend underscores the growing demand for weight loss supplements as a means of addressing the challenges associated with obesity.

The rise in living standards and disposable incomes is indeed a significant driver for the growth of the weight loss supplements market. In emerging nations, improvements in living standards and increased disposable incomes indicate a higher level of well-being and available resources for individuals and households. The growing market for weight loss supplements not only contributes to improved health outcomes but also caters to the increasing demand for health-conscious products, thus playing a pivotal role in elevating living standards and disposable incomes. The data from the OECD Better Life Index, indicating the average household net-adjusted disposable income per capita in the United States and comparing it to the OECD average, underscores the correlation between disposable income levels and the potential for increased demand for weight loss supplements. As disposable incomes rise, individuals may have more resources to invest in health and wellness products such as weight loss supplements, thereby driving the growth of this market.

In the weight loss supplements market, a key trend involves the advancement of production technologies and the creation of innovative products by major companies. These companies are actively focusing on developing cutting-edge weight loss supplements to meet the rapidly growing demands of consumers and to solidify their market positions. For example, Nature's Formulas, a US-based supplement company, has introduced BioFit, an industry-leading probiotic weight loss supplement crafted from natural ingredients. This innovative product contains a blend of natural components and 800 milligrams of resilient microbes that can withstand harsh stomach acids. This unique formulation is designed to swiftly enhance digestion, boost energy levels, and accelerate fat loss without reported side effects. The company has specifically designed this product to assist customers in achieving weight loss goals without strict diet plans, intensive exercise routines, or resorting to weight-reducing surgeries. This innovation represents a significant advancement in the weight loss supplement market, offering consumers an alternative approach to weight management through a natural and holistic supplement regimen.

Major companies in the weight loss supplements industry are concentrating on innovating their product offerings, particularly through the introduction of new product lines designed to provide heightened energy and maximum intensity. Hydroxycut's latest 'Hardcore' product line represents an innovative array of weight loss supplements that incorporate clinically researched ingredients, increased energy levels, and a variety of product formats. For example, in June 2023, Hydroxycut, a US-based brand known for marketing dietary supplements aimed at aiding weight loss, unveiled its new "Hardcore" product line. This line distinguishes itself by incorporating scientifically researched weight loss ingredients, notably C. canephora robusta, alongside elements that boost energy and focus, such as the addition of Yohimbe. The range's diversity in product types, combined with its user-friendly 3-step program and formulas supported by scientific research, contributes to its competitive edge. This strategic approach addresses the diverse needs of consumers within the dynamic and evolving weight loss supplements market.

In January 2022, Solace Nutrition, a US-based medical nutrition company, completed the acquisition of R-Kane Nutritionals' assets for an undisclosed sum. This strategic move enables Solace Nutrition to foster synergy between the two brands, driving growth while establishing a foothold in a related nutrition market segment. R-Kane Nutritionals, also based in the US, focuses on high-protein meal replacement products designed for weight management. This acquisition positions Solace Nutrition to broaden its offerings and extend its influence in the adjacent nutrition market.

Major companies operating in the weight loss supplements market report are Nestle SA, Abbott Laboratories, GlaxoSmithKline PLC, Kraft Heinz Company, Kellogg Company, Ajinomoto Co. Inc., Amway Corp., Glanbia PLC, Herbalife Nutrition Ltd., GNC Holdings Inc., Isagenix International LLC, Shaklee Corporation, Nature's Sunshine Products Inc., Clif Bar & Company, BPI Sports LLC, BioTech USA Kft., General Nutrition Centers Inc., Iovate Health Sciences International Inc., Grenade (UK) Ltd., Vitaco Health Ltd., MusclePharm Corporation, MuscleTech Health Sciences Inc., CytoSport Inc., Ultimate Life Ltd., Atkins Nutritionals Inc., Hi-Tech Pharmaceuticals Inc., Cellucor Nutrition, Transparent Labs LLC, Nutratech Ltd., Bio-Synergy Ltd., Creative Bioscience LLC, Nature's Bounty Co., NutraBio Labs Inc., Nutrex Research Inc., Optimum Nutrition Inc., ProSupps USA LLC, Quest Nutrition LLC, Scitec Nutrition Limited

Asia-Pacific was the largest region in the weight loss supplements market in 2023, and it is also expected to be the fastest-growing region in the forecast period. The regions covered in the weight loss supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the weight loss supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The weight loss supplements market consists of sales of chromium picolinate, glucomannan, and conjugated linoleic acid (CLA). 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.

Weight Loss Supplements 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 supplements 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.

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Where is the largest and fastest growing market for weight loss supplements ? 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 supplements 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.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Liquid; Powder; Softgels; Pills; Other Types
• 2) By Ingredients: Vitamins & Minerals; Amino Acids; Natural Extracts/Botanicals
• 3) By Distribution: Offline Channel; Online Channel
• 4) By End User: Under 18 years; 18 to 40 years; 40 to 50 years; Above 50 years
• Companies Mentioned: Nestle SA; Abbott Laboratories; GlaxoSmithKline plc; Kraft Heinz Company; Kellogg Company
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.