BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global weight loss and weight management diet market size at USD 238.34 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global weight loss and weight management diet market size to grow at a significant CAGR of 9.89% reaching a value of USD 419.67 billion by 2029. Major growth drivers for the global weight loss and weight management diet market include the rising health consciousness, increasing obesity rates, and the growing emphasis on well-being. Bariatric surgeries have evolved into a more accommodating choice due to technological strides, establishing their efficacy as enduring alternatives. As obesity surges, the Weight Loss and Weight Management Market expands via a notable increase in bariatric procedures. Concurrently, the surge in fast-food consumption and unhealthy diets fuels the demand for weight loss interventions. Amplifying this trend, government and private initiatives advocate healthier lifestyles, exerting a global impact on market growth. In response to financial constraints, lower and middle-income households lean toward budget-friendly solutions such as acupuncture and herbal remedies. Also, consumers increasingly favor cost-effective strategies like jogging, brisk walks, and online resources, including workout videos, to address weight loss. This dynamic landscape underscores the continuous evolution of the weight loss and weight management market. However, high cost of weight loss products and services and side effects of some weight loss products and services are anticipated to restrain the overall market growth during the period in analysis.
Global Weight Loss and Weight Management Diet Market – Overview
According to the World Health Organization (WHO), the global prevalence of obesity and overweight is reaching epidemic levels, leading to more than 4 million deaths each year attributed to complications arising from excessive body weight. This pressing issue underscores the imperative for multifaceted interventions, encompassing pharmaceuticals, nutritional supplements, surgical procedures, and physical activity, to effectively manage weight. Untreated obesity escalates health risks, such as hypertension, cardiovascular diseases, and specific types of cancers, necessitating comprehensive measures. Within this landscape, surgical alternatives such as Roux-en-Y gastric bypass, sleeve gastrectomy, and adjustable gastric banding stand out in the realm of global weight loss and management strategies. Sleeve gastrectomy involves stomach size reduction, while adjustable gastric bands regulate food intake, contributing to holistic weight control. Also, participants in the Registry dedicate an average of 1 to 1.5 hours daily to exercise, highlighting the importance of physical activity. Championing a health-conscious lifestyle is pivotal, as it extends benefits beyond cardiovascular well-being, encompassing risk reduction for various cancers and overall holistic health enhancement. The global weight loss and weight management diet market encapsulates these efforts, offering a spectrum of products, services, and solutions to address this critical concern on a global scale.
Impact of COVID-19 on Global Weight Loss and Weight Management Diet Market
COVID-19 pandemic adversely affected the global weight loss and weight management diet market. Lockdowns, restricted mobility, and altered routines disrupted healthy habits, leading to weight gain. Closure of gyms and reduced physical activity contributed to a sedentary lifestyle. Economic uncertainties influenced consumer spending on weight loss products and services. Additionally, stress and emotional factors led to unhealthy eating patterns. Virtual wellness platforms and home-based fitness solutions gained traction. As the pandemic highlighted health vulnerabilities, there arose an increased awareness of the importance of weight management. The market adapted by focusing on remote services and emphasizing holistic well-being, addressing the pandemic’s effects on weight management needs.
Global Weight Loss and Weight Management Diet Market – By Distribution Channel
Based on distribution channel, the global weight loss and weight management diet market is divided into Hypermarkets & Supermarkets, Specialty Stores, Pharmacies, and Online segments. The online segment held the highest market share by distribution channel due to its convenience and accessibility. The proliferation of e-commerce platforms and digital connectivity enables consumers to access weight loss products and services from the comfort of their homes. Online platforms offer a diverse range of options, facilitating easy comparison and informed decision-making. The global reach of online channels caters to a wider audience, enhancing market penetration. Moreover, the trend towards digitalization and the convenience of doorstep delivery align with modern consumer preferences. These factors collectively contribute to the online segment’s dominant position in the market.
Competitive Landscape
Major players operating in the global weight loss and weight management diet market include Abbott Laboratories, Cargill Inc., General Mills Inc., Ingredion Inc., Kellogg Co., Medifast Inc., Nutrisystem Inc., The Kraft Heinz Company, WW International, Inc., and PepsiCo, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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