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Weight Loss Ingredients Market Trends

ID: MRFR//3346-HCR | 110 Pages | Author: Pradeep Nandi| June 2024

Global Weight Loss Products Market Overview

Weight Loss Products Market Size was valued at USD 142.1 billion in 2022. The weight loss products market industry is projected to grow from USD 165.2 Billion in 2023 to USD 407.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2030). Increased health concerns and challenges have led to more expensive operations and more bariatric procedures are the key market drivers enhancing the market growth.Global Weight Loss Products Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Weight Loss Products Market Trends

  • Growing obese population is driving the market growth

Market CAGR for weight loss supplements is being driven by the rising number of obese people. A person who is obese has an abnormally high level of fat in their body, which could be harmful to their health. With a significant impact on worldwide mortality and morbidity, obesity has recently emerged as a public health concern on a scale. Since weight loss supplements are largely seen as healthy ways to lose weight, it is projected that the rising number of obese people would increase demand for them.

Additionally, large pharmaceutical companies are developing cutting-edge anti-obesity medications for weight loss and management. The quantity of clinical trials conducted on obesity has made it the subject of most research nowadays. There are 93 practices in the obesity medications channel, spanning all stages of clinical results. Governmental organizations have several crucial responsibilities in a national public health emergency, such as the rising rate of childhood obesity. By tackling general obesity as a crucial public health preference and coordinating the public and private domain response, it demonstrates leadership. Despite stricter government guidelines and greater personal commitment, obesity rates around the world continue to rise. Government regulations and levies may increase public awareness of weight control and compel the food and beverage industries to reduce the calorific value of their offerings.

The temporary closure of gyms, wellness centers, healthcare facilities, and sports academies also had a detrimental impact on industry growth. In the case, the importance of a healthy lifestyle and general welfare was more understood in 2021, which led to a sharp growth in online sales. The market is anticipated to be driven by a variety of products in different forms, such as Ready-to-Drink liquids, bars, gels, and powders. To increase the nutritional value of their products, manufacturers rely on novel flavors and useful components. Brands, for instance, enhance ready-to-drink products with natural ingredients while reducing their sugar and caffeine content.

For instance, the World Health Organization (WHO) estimates that over 1 billion people worldwide are obese as of 2022, including 650 million adults, 340 million adolescents, and 39 million children. As a result of being overweight or obese, 167 million people—adults and children—will be less healthy by 2025. As a result, it is anticipated that throughout the projection period, demand for weight loss supplements will increase due to the rising obesity rate. Thus, driving the weight loss products market revenue.

Weight Loss Products Market Segment Insights

Weight Loss Products Type Insights

The weight loss products market segmentation, based on type includes food, beverages and supplements. The beverage segment dominated the market, accounting for 35% of market revenue (78.48 billion). In developing economies, category growth is driven by an expanding overweight population and increased consumer knowledge of low-calorie beverages.

Weight Loss Products Distribution channel Insights

The weight loss products market segmentation, based on distribution channel, includes store based and Non- store based channel. The store-based distribution channel category generated the most income (70.4%). Weight reduction supplements are widely available at retail pharmacies, drug stores, health and beauty stores, and department stores, which is fueling segment expansion. The term "ecosystem" refers to a group of people who work in the construction industry. Furthermore, store-based channels are always involved in boosting total customer engagement and experience in stores.Figure 1:  Weight Loss Products Market, by Distribution channel, 2022 & 2030 (USD billion)Weight Loss Products Market, by Distribution channel, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Weight Loss Products Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American weight loss market area will dominate this market, owing to an increase in the number of persons affected by cardiovascular devices and obesity. In addition, the growing number of establishing health clubs and fitness facilities will boost market growth in this region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  WEIGHT LOSS MARKET SHARE BY REGION 2022 (%)WEIGHT LOSS MARKET SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe weight loss products market accounts for the second-largest market share due to the low cost of bariatric surgery and the rise in the number of diabetes people. Further, the German weight loss products market held the largest market share, and the UK weight loss products market was the fastest growing market in the European region.

The Asia-Pacific Weight Loss Products Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to expanding awareness of a healthy lifestyle and nutrition and rising per capita disposable income. Moreover, China’s weight loss products market held the largest market share, and the Indian weight loss products market was the fastest growing market in the Asia-Pacific region.

For instance, Americans are actively pursuing a physically active lifestyle and are becoming more health concerned. The expansion and growth of the industry have been aided by an increase in the number of health clubs and fitness facilities across the nation.

Weight Loss Products Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the weight loss products market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, weight loss product business must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the weight loss products industry to benefit clients and increase the market sector. In recent years, the weight loss products business has offered some of the most significant advantages to medicine. Major players in the weight loss products market, including General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., and others, are attempting to increase market demand by investing in research and development operations.

Robert Atkins formed Atkins Nutritionals, Inc. to promote the Atkins diet's low carbohydrate packaged meals. It is now a subsidiary of The Simply Good Foods Company. Low-carbohydrate bars, shakes, and snacks are available from the company. Atkins Nutritionals, Inc. was formed in 1989 as Complementary Formulations. In 1998, the company was renamed Atkins Nutritionals. It was created to enhance the Atkins diet. Atkins created the plan after reading a research paper in the Journal of the American Medical Association. Alfred W. Pennington published the paper, "Weight Reduction," in 1958. Atkins used the study's findings to help him overcome his own obesity. In May 2019, A partnership agreement between Atkins and CHEF'D was signed. Our collaboration sought to create a low-carb meal solution for consumers concerned about their health and lifestyle.

Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American firm founded in 1845 that has been inventing, manufacturing, and distributing a wide range of products. Brunswick now employs over 13,000 people in 24 countries. Among the various boating brands owned by Brunswick are Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver, and CZone. In June 2019, A partnership agreement was inked between BRUNSWICK Company and VIR zoom to launch a product called VIR zoom solution. This collaboration, if correctly executed, was expected to transform Life Fitness' se3 explore bikes into a virtual reality experience.

Key Companies in the weight loss products market includes

  • General Mills Inc.

  • Amway

  • Conagra Brands Inc.

  • Cargill Incorporated

  • Abbott Laboratories

  • Kraft Foods Group Inc.

  • The Coca-Cola Company

  • PepsiCo Inc.

  • Atkins Nutritionals Inc.

  • Brunswick Corporation among others

Weight Loss Products Industry Developments

In March 2022, KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management, and encourage greater levels of energy.

In January 2022, Solace Nutrition, a US-based medical nutrition company, bought R-Kane Nutritionals' assets for an unknown sum. This asset acquisition enables Solace Nutrition to develop synergy between both brands, accelerate growth, and establish a position in an adjacent nutrition sector. R-Kane Nutritionals is a firm established in the United States that specializes in high protein meal replacement products for weight loss.

In February 2021, Hydroxycut's newest creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was carefully formulated for regular energy drink consumers, exercise enthusiasts, and dieters looking to lose weight.

Weight Loss Products Market Segmentation

Weight Loss Products Type Outlook

  • Food

  • Beverages

  • Supplements

Weight Loss Products Distribution channel Outlook

  • Store-Based

  • Non-Store-Based

Weight Loss Products Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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