Global Weight Management Market to Reach US$ 269.2 Billion by 2024, Driven by Rising Occurrence of Health-Related Issues - IMARC GroupThe global weight management market is being driven by unhealthy eating habits and increasing consumption of junk food, along with support from public healthcare programs.
According to the latest report by IMARC Group, titled “Weight Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 189.8 Billion in 2018. Weight management refers to a set of practices that enable an individual to lose unwanted weight by adopting a healthy diet and increasing physical activity. The purpose of weight management is to help people attain good health and foster a better lifestyle as well as prevent and treat diseases associated with obesity or other eating disorders. With the rising obesity rates, people nowadays are consulting nutritionists and health care professionals to learn the skills necessary for weight management.
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Global Weight Management Market Trends:
In recent years, unhealthy lifestyles and increasing consumption of fast food have led to higher obesity rates. Since being overweight or obese increases the risk of health-related issues, including type 2 diabetes, heart disease, stroke, fatty liver and kidney disease, individuals are adopting nutritious diets and workout programs to stay fit and healthy. Along with this, various government and non-profit health organizations are promoting weight management programs, which offer education about healthful eating as well as modifying the person's food intake. These programs also provide information to individuals about the scientific foundation of nutrition that enables them to make informed decisions about food, cooking methods and estimating portion sizes. Besides this, the advancements made in the healthcare industry have led to the development of various surgical procedures, such as gastric bypass, sleeve gastrectomy, adjustable gastric band and biliopancreatic diversion, which aid in losing weight. Moreover, market players are launching new dietary supplements containing ingredients that help in improving metabolism. As a result of these factors, the market value is projected to reach US$ 269.2 Billion by 2024, registering a CAGR of around 6% during 2019-2024.
Market Summary:
Market Breakup by Diet
1. Meals
2. Beverages
3. Supplements
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Based on the diet, the market has been segmented into beverages, meals and supplements. Beverages currently represent the most popular segment, holding the largest market share.
Market Breakup by Equipment
1. Fitness Equipment
2. Surgical Equipment
On the basis of the equipment, the market is dominated by fitness equipment, including strength training, cardiovascular training and other equipment. It is followed by surgical equipment, which comprises minimally invasive/bariatric and non-invasive surgical equipment.
Market Breakup by Service
1. Fitness Centres
2. Slimming Centers
3. Consultation Services
4. Online Weight Loss Services
The market has been categorized based on the services into fitness centers, slimming centers, consultation services and online weight loss services. Amongst these, online weight loss services account for the majority of the market share.
Market Breakup by Region
1. Europe
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Region-wise, North America exhibits a clear dominance in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape
The competitive landscape of the market has also been examined with some of the key players being Herbalife International, Inc., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Brunswick Corporation, Ethicon Endo-surgery, Inc., Golds Gym International, Inc., Amer Sports, Technogym SPA, Jenny Craig Inc., Medtronic Inc., Kellogg Company, Atkins Nutritionals Inc., Apollo Endosurgery Inc., Cyber International, Inc., Johnson & Johnson, etc.
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