The global Weight Loss And Obesity Management Market is estimated to be valued at US$ 225.66 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The weight loss and obesity management market comprises products such as meal replacements, weight loss supplements, green tea extract supplements, fat burners supplements, and exercise gadgets. These products help in managing weight and obesity conditions effectively by creating calorie deficiency, suppressing appetite, and aiding weight loss.
Market key trends:
One of the key trends in the weight loss and obesity management market is the increasing popularity of weight loss supplements. According to the American Dietetic Association, nearly 35-50% of consumers trying to lose weight use weight loss supplements. The major factors driving the demand for these dietary supplements are ease of use, fast results, and attractive marketing and packaging. However, the safety and efficacy of some supplements are questionable. Another key trend is the growing adoption of digital weight management programs and apps. These programs help track calorie intake and physical activity along with monitoring weight goals via mobile or web applications.
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Market key trends:
The key trend in the weight loss and obesity management market is the growing popularity of digital weight management programs and apps. These digital programs offer customized diet plans, activity tracking, progress monitoring and social support all from a smartphone. They have made weight loss and management more convenient and accessible for many consumers. However, their long term effectiveness still needs to be established through more research.
SWOT Analysis
Strength: Growing obesity rates globally have increased the focus on weight management options.
Weakness: Many weight loss programs require significant lifestyle changes which can be difficult to sustain long term.
Opportunity: Rapid growth of digital health and weight loss apps present an opportunity to engage more consumers.
Threats: Intense competition from other weight loss programs and restrictive diets can attract customers away.
Key Takeaways
The global weight loss and obesity management market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing awareness about health risks of obesity.
The North America region is expected to dominate the weight loss and obesity management market during the forecast period owing to growing obese population, advanced weight loss therapies availability and high willingness to spend on weight management.
Key players operating in the weight loss and obesity management market are Novo Nordisk A/S, Takeda Pharmaceutical Company Limited, Eisai Co., Ltd., Herbalife International of America, Inc., F. Hoffmann-La Roche Ltd, VIVUS LLC., Apollo Endosurgery, Inc., Duke Products & Services & Fitness Center, Ethicon Inc., Equinox, Inc., Kellogg Co., Life Time Fitness Inc., Medtronic, Nutrisystem, Inc., FOUND, Ro, OptiBiotix Online., PRISTYN CARE, Allurion, WW International, Inc., Amgen Inc., Meiji Holdings Co., Ltd., Boehringer Ingelheim International GmbH, Rhythm Pharmaceuticals, Inc., Altimmune, Nestlé Health Science.
