Weight Control Products Market Outlook:
The weight control products market size is estimated to reach USD 295.3 Billion by the year 2027. During the forecast period 2021-2027, this market will have a 7% CAGR.
Across the globe, cases of cardiovascular diseases, diabetes, and cancer are increasing at an alarming rate in the past few years. High disposable income, sedentary lifestyle, and change in food habits of people in most of the developed countries have made people more vulnerable to health issues like diabetes, obesity, heart problems, and cancer. Due to inactive lifestyles and inclination towards processed foods, obesity has become very common in people across the globe.
Nowadays, even the cases of child obesity are also rising. So, more and more people are looking for products for losing and maintaining weight. Though the largest Global Weight Control Products Market is North America, the market of Asia Pacific is also growing at a fast rate.
Since the onset of the COVID-19 pandemic, many changes have occurred in the social norms across the globe. Working from home has affected people differently. Due to prolonged lockdown time, many people have got into the habit of eating junk, lesser physical activity, and sedentary lifestyles. On the other side, studies show that there is another group of people who have utilized this lockdown time and dedicated considerable time for physical activities and weight loss programs. There are people who have started preparing and eating more homemade foods to remain healthy and lose weight.
During this pandemic period, more people have realized the importance healthy lifestyle. So, Weight Control Products Market is in demand for weight loss products from different sectors like healthcare services, pharmaceutical segment, and medicine. At the same time, due to lockdown, raw materials were not available, and it affected the production of weight control products. During this pandemic time, the unavailability of laborers and smooth logistics services also hampered the Weight Control Products Market growth. But the market has boosted due to huge online sales of weight control products. As markets are reopening post-COVID, consistent growth is estimated in the forecasted period.
Huge numbers of bariatric surgeries have been done in the countries like Australia and America in the past few years. As the health issues related to obesity are constantly on the rise across the world and bariatric surgeries are very expensive, people have started taking important measures to remain fit and healthy. An increasing number of health-conscious people, higher expense of bariatric surgery, increase in obesity and its related health issues are the important market drivers for the Weight Control Products Market. The key players in this market are coming up with innovative products for weight loss so it is also going to be an important driver for this market.
Governments of various countries have set up strict regulations for the companies that are the key players in the Global Weight Control Products Market. The manufacturers have to adhere to the quality standards set by the governments. Any dietary supplement used in these weight loss and control products must be safe as per the standards set by the authorities. Additionally, the companies have to comply with the rules for marketing and promoting of dietary supplements.
According to the Global Weight Control Products Market Analysis, Asia Pacific region is going to create lots of opportunities for this market. As the numbers of people with disposable income are increasing and more people are inclining towards the western lifestyle, countries of Asia Pacific region are going to offer consistent growth opportunities for the weight control products companies. Certain Latin American countries are also going to offer lucrative business growth opportunities to the key players of this field.
The Weight Control Products are quite costly. These are low-calorie diets and because of much higher cost than the high-calorie food products. Because of excessive price, the weight control products cannot be afforded by middle or low–income group. This is a very important challenge for the Weight Control Products Market Growth across the world, especially in developing countries.
The Compound Annual Growth Rate (CAGR) of the Weight Control Products Market is forecasted to go up by 7%. Experts anticipate that this market will have consistent growth in the coming years. The market size is estimated to reach around USD 295.3 Billion in the forecast period of 2021-2027.
Value Chain Analysis
The incidents of child obesity are increasing across the globe. Additionally, the numbers of people with a sedentary lifestyle and junk-food eating habit are also on the rise. This will affect the Weight Control Products Market Size significantly across the globe. As key players of this market are coming up with new products and ready to invest more in weight control products, it will have impact on the value chain of this market.
The Global Weight Control Products Market is divided into different segments based on different factors. Based on product type, the market is segmented into fat burners, weight gain supplements, low calorie food items, beverages, and meal replacements. During the forecast period, beverages and meal replacements are going to control the market.
Based on product, the market of weight control products is divided into tablets, powder, and liquid.
Based on the distribution channel, The market is divided into Specialty Stores, Supermarkets, E-commerce Retail, and pharmacies. E-commerce retail store is estimated to grab the maximum part of the market share within the forecast period 2021-2027.
The market of global Weight control products is divided into adult, children and elderly people-based end-users. Within the forecast period of this report, the share of children and adults would grow significantly.
The global Weight Control Products Market Share is controlled by Asia Pacific, Europe, North America, South America, Africa and Middle East. The market is mostly dominated by North America as this region has a greater number of people with obesity and cardiovascular diseases. The fitness centers and health clubs in North America are increasing in number so the Weight Control Products Market Growth is going to be consistent in this region during the forecast period.
Asia Pacific region is going to hold the second largest share of this market due to rising numbers of fitness-conscious people and disposable income. Europe is also a promising region for this market due to increase in incidents of diabetes and a greater number of bariatric surgeries.
The Weight Control Products Market Value is affected significantly due to competition among the key players of this market. These companies have come up with new product launches to reach majority of the prospective customers. Additionally, mergers, acquisitions and partnerships of important companies in the global market have also affected the growth of this market.
The key players of this market are:
Report Score and Segmentation
The report overview of the Weight Control Products Market Outlook is as follows.
Report Scope and Segmentation
The scope of this report is to provide a detailed Global Weight Control Products Market Forecast for the period of 2021-2027. The highlights of this report are CAGR percentage, market value, challenges, market drivers, new opportunities, recent developments, and other important information about the global market. All this information is collected from different kinds of primary and secondary sources.
By Product Type
By Product Form
By distribution channel
|Market Size||USD 295.3 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Source, Form and Function|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dow Agrosciences, BASF, Bayer AG, Syngenta, Monsanta, Agrium, Sumitomo Chemical and ICL|
|Key Market Opportunities||The Increasing rate of obesity|
|Key Market Drivers||
The projected Weight Control Products Market Growth is around 7% CAGR during the studied forecast period 2020-2027.
The major players of Global Weight Control Products Market are Atkins Nutritionals Inc (US), Amway (US), Kellogg Company (US), Conagra Brands Inc.(US), Pepsico Inc. (US), Biosynery, Kraft, Quaker, GlaxoSmithKline, Herbalife International of America, and others.
Due to considerable numbers of obese adults and children in North America, the demand for Global Weight Control Products is the highest in the North America countries. But as per the Global Weight Control Products Forecast, Asia Pacific region of the world is going to have considerable growth in this field especially South Korea and China.
In the coming 5-6 years, the main Weight Control Products Market Trends will be different types of meal replacements such as shakes, nutritional bars, soups and drinks as these are gaining popularity among the health-conscious people.