Weight Loss and Obesity Management Market - Global Industry Analysis

Weight Loss and Obesity Management Market: Overview

The global Weight Loss and Obesity Management Market accounted for USD 195.5 Billion in 2020 and is expected to reach USD 335.7 Billion by 2028, growing at a CAGR of 7.6% from 2021 to 2028.

Obesity is a medical condition characterized by the excessive accumulation and storage of fats within the body. The condition has a variety of effects on an individual's health, including increasing the risk of chronic diseases and shortening one's life expectancy. In these management programs, a variety of diets, devices, and drugs are used with the goal of controlling or reducing weight in obese people. There has been a steep increase in the number of obese around the globe due to the change in eating habits, more synthetic food consumption reduced physical activities, and increment in online activities. Earlier children use to play on the grounds and indulge themselves in sports activities but nowadays digitalization has hampered these activities resulting in to rise in obese people across the globe. According to the WHO in 2016, around 650 million adults were obese. The obese stats had tripled over 50 years.

COVID-19 Impact Analysis

As the number of cases of obesity and related comorbidities rises, drug and device adoption for weight loss and obesity management will rise as well, fueling the global weight loss and obesity management market's growth over the forecast period. The rising prevalence of obesity is driving the weight loss and obesity management market. Obesity's rising epidemic poses a major threat to disease prevention around the world. By 2030, it is estimated that 38% of the world's adult population will be overweight, with around 20% being obese. The Middle East and Asia are more affected by the obesity epidemic. Food imports are quite high in Pacific regions. Obesity management and weight loss are beneficial in the treatment of severe obesity and its comorbidities, such as asthma, diabetes, and hypertension.

Weight Loss and Obesity Management Market: Growth Factors

One of the major factors driving the growth of the weight loss and obesity management market is the rise in the number of obese people around the world. The increase in the number of chronic diseases such as hypertension and diabetes, as a result of the adoption of unhealthy and sedentary lifestyle patterns, as well as the increase in the number of bariatric surgeries, is propelling the weight loss and obesity management market forward. People's increasing preference for junk food, physical inactivity, a hectic schedule, and rising stress levels are all contributing to an increase in fast food consumption, which has a negative impact on the weight loss and obesity management market. Furthermore, the weight loss and obesity management market is influenced positively by the growth of the food sector, increasing adoption of online weight loss and weight management programs, government initiatives to raise awareness, and rising disposable income in developing economies. Also, the rise in the rate of childhood obesity and emerging nations provides profitable opportunities for weight loss and obesity management market players.

Report Scope:

Diet Segment Analysis Preview

During the forecast period, beverages hold the largest market share. This is attributable to the fact that there is an increase in the obese population across the globe. There is increased awareness among consumers regarding low-calorie diets which have become fab. For instance, Diet Coke is a famous beverage that became an attraction center amongst customers. This is a low-calorie and sugar-free soft drink. Meals and supplements form the other type of diet segment.

Equipment Segment Analysis Preview

Fitness equipment, which includes cardiovascular and strength training equipment, consisted of the major portion of the forecast period. The rapid expansion is due to a number of factors, including increased accessibility to gyms, continuous technological advancements in equipment, and easy availability of these items. Fitness Monitoring Equipment, Body Composition Analyzers, Surgical Equipment, Minimally Invasive Surgical Equipment, and Noninvasive Surgical Equipment among others form the equipment segment.

Service Segment Analysis Preview

During the given forecast period Online Weight Loss Program is expected to grow at the highest rate. The rising prevalence of obesity, rising awareness about maintaining health and fitness for preventing health conditions such as diabetes and heart disease, the growing number of online weight loss programs, and increasing disposable income in developing economies are all contributing to this market segment's rapid growth. Fitness Centers, Slimming Centers, and Consulting Services, among others, form the service segment.

Weight Loss and Obesity Management Market: Regional Analysis Preview

North America accounted for a share of 37.56% in 2020. Major factors supporting the growth of the weight loss and weight management market in this region include rising obesity and chronic disease incidence, rising awareness about nutrition and healthy lifestyles, a growing number of fitness centers, and rising disposable income. Because of the growing population of overweight and obese people, a shift toward minimally invasive and noninvasive procedures, and an increase in the incidence of hypertension and diabetes, North America dominates the weight loss and obesity management market.

Asia Pacific is projected to grow at a CAGR of over 9.4% during the forecast period. China is the market leader in the weight loss monitoring market. This attributes to increased awareness amongst individuals and increases in personal income. The rise in disposable income, increase in the number of diabetics, growing awareness of personal well-being, sedentary lifestyles, and the low cost of bariatric surgeries in this region are all factors contributing to this growth. Consumers in this area are more into weight loss supplements, meal replacements, and MRE (Meal Ready to Eat) foods.

Weight Loss and Obesity Management Market: Key Players & Competitive Landscape

Some of the key players in the weight loss and obesity management market are Ajinomoto Co., Inc., Herbalife International of America, Inc., Nestlé SA, PepsiCo, Johnson Health Tech, THE COCA-COLA COMPANY, Nutrisystem, Inc., Mayo Foundation for Medical Education and Research (MFMER), Zafgen, Inc., WW International, Inc., Jenny Craig, Diet Health, Inc., VLCC, 24 Hour Fitness USA, Inc., among others.

Brunswick dominated the fitness equipment market for weight loss and weight management in 2016. Because of its diverse product portfolio and extensive geographic reach, the company has managed to carve out a distinct identity in this market. In addition, the company focuses on both organic and inorganic growth strategies in order to maintain its market leadership. In May 2017, the company introduced the Integrity Series cardio line, which includes a treadmill, elliptical cross-trainer, and upright and recumbent Lifecycle Exercise Bikes. Brunswick acquired Cybex (US) in January 2016 to expand its fitness product portfolio and capitalize on opportunities in the weight loss and weight management market.

The global weight loss and obesity management market is segmented as follows:

By Diet

• Meals
• Beverages
• Supplements

By Device Type

• Fitness Equipment
• Cardiovascular Training Equipment
• Strength Training Equipment
• Fitness Monitoring Equipment
• Body Composition Analyzers
• Surgical Equipment
• Minimally Invasive Surgical Equipment
• Noninvasive Surgical Equipment

By Industry Type

• Fitness Centers
• Slimming Centers
• Consulting Services
• Online Weight Loss Programs

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa