Weight loss diet products include a variety of foods, beverages, and supplements that help reduce appetite and calorie intake. Common weight loss diet products are low-calorie foods, meal replacement shakes, diet pills and supplements. They offer convenience and are designed to help people lose weight faster through portion control and reduced calorie consumption.
The global Weight Loss Diet Products Market is estimated to be valued at US$ 206.04 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the weight loss diet products market is the growing popularity of plant-based and vegan weight loss options. With increasing health and environmental consciousness, many consumers are looking for weight loss solutions that align with their values of sustainability and well-being. This has led to new product launches like plant-based meal replacement shakes, snacks made from beans, nuts and seeds, and supplements using plant-based ingredients. Companies are innovating to offer varied and tasty plant-centric options to cater to this growing consumer segment.
Strength: Weight loss diet products offer convenience and accessibility for consumers looking to lose weight quickly. Products like meal replacement shakes, bars, and supplements allow for an easy way to control calorie intake and meet nutritional needs.
Weakness: Reliance on fad diets or extreme methods of calorie restriction through diet products alone can often lead to yo-yo weight loss and difficulty maintaining results long term. Some products also lack complete nutritional balance.
Opportunity: Growing health awareness and increasing obesity rates are driving more people to actively pursue weight loss goals through improved diet and lifestyle changes. The market sees opportunity to offer all-natural, personalized programs and services beyond just products.
Threats: Stricter regulations on advertising health claims and ingredients pose challenges to innovation. Customers also show growing interest in whole foods and holistic approaches outside of traditional “diet” products.
The global weight loss diet products market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing health consciousness among consumers. The growing obesity epidemic worldwide is prompting more action towards dietary changes and weight management through commercial programs.
North America currently dominates the weight loss diet products market, owing to the high proportion of obese population in the US and Canada. However, Asia Pacific is expected to emerge as the fastest growing regional market in the coming years. This can be attributed to rising disposable incomes, evolving work culture and increasing adoption of Western lifestyles in developing countries like China and India.
Key players operating in the weight loss diet products market are Atkins Nutritionals, Inc., Herbalife Nutrition, Nestle S.A. (Optifast), Medifast, Inc., Robard Corporation, Physicians Weight Loss, Nu-Skin, Visalus, WW International, Inc., and VLCC Healthcare Ltd. Major players are focusing on new product launches, especially convenient ready-to-eat items, as well as diversifying their service offerings to target specific customer segments and complement existing weight loss programs.