Weight Loss Products and Services Global Market Report 2024

The global weight loss products and services market has grown strongly in recent years. It will grow from $298.99 billion in 2023 to $325.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period for weight loss products and services can be attributed to various factors. These include the increasing rates of obesity, a growing awareness of health issues, trends in fitness and wellness, the influence of social media on health-related decisions, the prevalence of medical conditions and comorbidities associated with excess weight, dietary trends and preferences, the accessibility of information related to weight management, and government initiatives aimed at addressing health and wellness concerns. These factors collectively contributed to the demand for and growth of weight loss products and services during the specified historical period.

The global weight loss products and services market is expected to see strong growth in the next few years. It will grow to $461.00 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period for weight loss products and services can be attributed to several factors. These include the rise of personalized nutrition approaches, trends in home fitness, the implementation of corporate wellness programs, the adoption of genetic testing for weight management, regulatory support and guidelines, and an increased focus on mental health aspects of weight management. Major trends expected in the forecast period include the digitalization of weight management processes, the integration of fitness technology, the development of DNA-based weight management solutions, a focus on cultural sensitivity and inclusivity in wellness offerings, and heightened regulatory scrutiny and emphasis on transparency within the industry. These trends reflect the evolving landscape of weight management practices and the broader focus on holistic well-being.

The increasing proportion of the ageing population is poised to drive the expansion of the weight loss products and services market. This demographic shift refers to a surge in the elderly population due to changes in the population's age structure. Weight loss products and services cater to the needs of the ageing population, particularly those grappling with obesity or higher weights attributed to age-related changes in body composition. As individuals age, there's a gradual increase in fat content coupled with declines in lean mass and bone density. Notably, according to the World Health Organization's projections in October 2022, globally, one in six individuals will be 60 or older by 2030, with an estimated doubling of this age group to 2.1 billion by 2050. Similarly, projections from the UK Parliament's House of Commons Library in June 2021 indicate an expected rise in the senior population in the UK, comprising 24% of the total population (17.4 million people) by 2043. Hence, the burgeoning ageing population stands as a pivotal factor driving the growth of the weight loss products and services market.

The escalating prevalence of obesity is anticipated to propel the expansion of the weight loss products and services market. Obesity, characterized by the excessive accumulation of body fat, poses health risks and requires intervention through weight loss products and services. These aids assist individuals in shedding excess weight, improving overall health, and fostering sustainable lifestyle changes. As per projections from the UK Government Digital Service in May 2023, the obesity rate among individuals aged 18 and older in the UK reached 25.9% in 2021-2022, marking a 25.2% increase. Consequently, the rising prevalence of obesity serves as a key driver stimulating the growth of the weight loss products and services market.

Innovative technological advancements represent a prominent trend within the weight loss products and services market. Leading market players are leveraging cutting-edge technology to retain their market positions and enhance offerings. For instance, Performance Health Systems, a US-based entity operating in weight loss products and services, unveiled the Personal Power Plate equipped with whole-body vibration technology in February 2021. This technology offers faster and more effective results across diverse fitness levels, catering to individuals with physical limitations. The vibrating power plate facilitates exercises like squats, planks, and lunges, enabling users to achieve fitness goals and facilitate weight loss more efficiently compared to traditional training methods.

Major players in the animal and pet food market are innovating by introducing products like Pure Health Apple Cider Vinegar Gummies to amplify the bioavailability and appeal of apple cider vinegar. Pure Health Apple Cider Vinegar Gummies present a palatable and convenient alternative to experience the potential health benefits of apple cider vinegar, minus the disagreeable taste or odor. For instance, in March 2022, KaraMD, a US-based provider of science-backed products, launched Pure Health Apple Cider Vinegar Gummies - a dietary supplement encapsulating apple cider vinegar (ACV) within a user-friendly gummy format. ACV, a fermented product derived from apples, has a historical usage tied to potential health advantages such as aiding digestion, regulating blood sugar levels, and supporting weight management.

In a strategic move observed in June 2022, Solace Nutrition, LLC, a US-based medical nutrition company, acquired R-Kane Nutritionals in an undisclosed deal. This acquisition positions Solace Nutrition to gain a foothold in the nutritional management industry and extend its core manufacturing and distribution expertise to R-Kane's clientele. The integration of R-Kane Nutritionals into Solace is anticipated to accelerate growth for both brands and create synergies between their offerings. R-Kane Nutritionals, LLC, a US-based company specializing in weight loss products and management, primarily focuses on providing high-protein meal replacement options within its niche market.

Major companies operating in the weight loss products and services market report are Abbott Laboratories, Baxter Weight Loss, Fitbit Inc., GlaxoSmithKline PLC, Boehringer Ingelheim International GmbH, BASF SE, Fresenius Kabi AG, Glanbia PLC, MuscleBlaze, Gold's Gym International Inc., Hammer Nutrition Direct, Jarrow Formulas Inc., Lallemand Inc, Apollo Endosurgery Inc., WW Health Solutions, Nutrisystem, Jenny Craig Inc., Slimming World, Atkins Nutritionals Inc., Medifast Inc., VLCC Healthcare Ltd., Curves International Inc., LA Fitness International LLC, 24 Hour Fitness Worldwide Inc., Life Time Fitness Inc., Anytime Fitness LLC, Equinox Holdings Inc., Crunch Fitness, Orangetheory Fitness, Noom Inc.

North America was the largest region in the weight loss products and services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the weight loss products and services market report during the forecast period. The regions covered in the weight loss products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the weight loss products and services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Weight loss products and services include various types such as food, beverages, supplements, and other related products. Services in this domain encompass fitness centers, slimming centers, consultation services, and other offerings like fat replacers. These products and services are distributed through different sales channels, including supermarkets and hypermarkets, convenience stores, retail pharmacies, and e-commerce platforms.

This report provides weight loss products and services market statistics, including weight loss products and services industry global market size, regional shares, competitors with a weight loss products and services market share, detailed weight loss products and services market segments, market trends, and opportunities, and any further data you may need to thrive in the weight loss products and services industry. This weight loss products and services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The weight loss products and services market consists of revenues earned by entities through fitness training, yoga sessions, gymnasiums, and zumba sessions. The market value includes the value of related goods sold by the service provider or included within the service offering. The weight loss products and services market also includes sales of cereals and flour, dairy products that are not drinkable, frozen fruits and vegetables, energy drinks, and fruit and vegetable juices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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