DUBLIN, July 14, 2023 /PRNewswire/ — The “Global Weight Loss and Weight Management Market Analysis & Forecast to 2023-2033: Market by Product Type, by Distribution Channel, and by Region” report has been added to ResearchAndMarkets.com’s offering.
The global weight loss and weight management market size was estimated to be USD 198 billion in 2023 and is expected to reach at USD 425.4 billion by 2033 with a CAGR of 7.2%
Increasing prevalence of obesity, growing health awareness, rising technological advancements, increasing fitness and wellness trends, and increasing investment in research and development will drive the market growth.
The market for weight loss and weight control has been significantly impacted by technological advancements. People can now measure their progress, keep tabs on their diet and exercise, and get tailored weight management recommendations thanks to mobile apps, wearable tech, smart scales, and other digital tools. For instance, Nestle S.A.’s Garden Gourmet brand debuted a plant-based meal replacement shake in May 2023. The shake is promoted as a practical and nutritionally sound choice for people looking for weight-loss treatments.
By product type, equipment and devices was the highest revenue-grossing segment in the global weight loss and weight management market in 2022 owing to the increasing adoption of advanced fitness technology and the growing preference for home-based workouts and self-monitoring.
For instance, Herbalife Nutrition Ltd. announced in April 2023 that a new line of plant-based protein drinks would be added to its existing product lineup. The plant-based shakes are created to satisfy the rising demand in the weight reduction market for vegan and vegetarian solutions.
Food and beverages will be the fastest revenue-grossing segment in the global weight loss and weight management market in 2022 owing to the rising demand for convenient and nutritionally balanced meal options, increasing consumer focus on healthy eating habits, and the introduction of innovative and appealing product offerings by manufacturers.
By distribution channel, hospital pharmacy was the highest revenue-grossing segment in the global weight loss and weight management market in 2022 owing to the increasing prevalence of obesity-related health conditions and the growing adoption of medically supervised weight loss programs.
For instance, Fitbit, Inc. announced the Fitbit Luxe, a new fitness and wellness tracker, in March 2023. To assist customers in achieving their weight reduction and general health goals, the Luxe provides features including activity tracking, sleep monitoring, and stress management tools.
Online retail will be the fastest revenue-grossing segment in the global weight loss and weight management market in 2022 owing to the convenience and accessibility it offers to consumers, the expanding e-commerce platforms, and the growing trend of online shopping for weight loss and weight management products.
Company Profiles
- Herbalife Nutrition Ltd.
- WW International, Inc. (formerly Weight Watchers)
- Nutrisystem, Inc.
- Atkins Nutritionals, Inc.
- Fitbit, Inc.
- MyFitnessPal (Under Armour)
- Jenny Craig, Inc.
- Medifast, Inc.
- Amway Corporation
- Abbott Nutrition (Abbott Laboratories)
- Slimming World
- Herbalife Ltd.
- VLCC Healthcare Ltd.
- GNC Holdings, Inc. Holdings, Inc.
Report Scope:
- Base Year: 2022
- Forecast Period: 2023-2033
- Study Coverage
- Market Forecast by Product type and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Weight Loss and Weight Management Market Analysis & Forecast by Product Type 2022-2033 (Revenue USD Bn)
- Food and Beverages
- Supplements
- Equipment and Devices
- Services
- Surgical Procedures
Weight Loss and Weight Management Market Analysis & Forecast by Distribution Channel 2022-2033 (Revenue USD Bn)
- Retail Stores
- Online Retail
- Hospital Pharmacy
For more information about this report visit https://www.researchandmarkets.com/r/9h91rk
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SOURCE Research and Markets
