Weight Management Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global weight management products market is projected to grow at a CAGR of 8.6 % during the forecast period.

The weight management products market has been witnessing significant growth due to the increasing health and hygiene consciousness among consumers, owing to the impact of the COVID-19 pandemic. The pandemic led to a shift in consumer priorities in 2021, with a focus on overall health and wellbeing. Furthermore, weight management during the COVID-19 pandemic has been associated to reducing the burden of the novel virus. Weight reduction drugs that can hijack the body's own appetite by regulating the brain's system, resulting in reduced hunger and calorie intake, are a profitable market for manufacturers in the weight management industry.

Obesity is one of the immensely discussed terms across countries, such as the United States, the United Kingdom, Germany, India, China, among others where the rate of obese population has been escalating, amid government plans to curb the growth. The dependency of consumers, in terms of consuming fast foods (mostly junk), and sweet indulgence are some of the eating habits that assist the growth of weight mangement products.

The earnest need of consumers to get a slender body in minimal time is somewhat countered by their busy lifestyle and greater time slot for physical inactivity. As a result, consumers are turning to alternatives that are claiming or have proven benefits in boosting their process of weight loss and giving rise to majority products placed in the weight management aisle of a departmental store.

Key Market Trends

The Rising Obese Population

Obesity rates have increased as a result of unhealthy lifestyles and excessive fast food intake. As a result, chronic disorders such as diabetes, obesity, high cholesterol, and heart attacks are becoming more common. As a result, people are becoming more health-conscious and embracing nutritious diets and exercise regimens in order to keep fit and healthy. In recent years, a wide selection of weight management solutions has had a significant impact on the health and fitness sector. Such products not only aid in weight loss, but also encourage the body's immune system to strengthen and combat weight-related health issues like extreme weight gain or loss, cardiological issues, diabetes, high blood pressure, and others. They are available in two forms on the market: medical aids and food products.

North America Dominates the Market

More than two-thirds of adults and almost one-third of children and youngsters are overweight or obese in North American countries like the United States. Moreover, approximately 67% of those obese in the country are trying to lose weight. The lifestyle changes, like following a healthy eating pattern, reducing caloric intake, and engaging in physical activity are the basis for achieving long-term weight loss. Consumers perceive diet and lifestyle changes as difficult, and, in turn, prefer fat burn supplements for weight loss in anticipation that these products will help to achieve weight-loss goals. Manufacturers in the market promote these products with various claims, including that these products reduce macronutrient absorption, appetite, body fat, and weight and increase metabolism and thermogenesis. Also, the U.S. Food and Drug Administration (FDA) regulates weight loss supplements to ensure products are safe, and their label claims are truthful and not misleading.

Competitive Landscape

The Global Weight Management Products market is competitive. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Consumers prefer innovation in weight management products such as fat burners, an example of which is the flavors and unique packaging. The major players like Glanbia PLC, General Nutrition Centers Inc., Amway Corp., The Kelloggs Company and Herbalife Nutrition Ltd. are focusing on introducing new products in the market to cater to the interests of the consumers. For instance, Amway Corp. is focusing on developing new ways to grow nutrients by experimenting with different types of botanicals, growing methods, and seeds that are used in its Nutrilite supplements and vitamins.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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