Global Weight Management Market

Weight Management Market Size, Share, Growth Analysis, By Function (Diet, Meals, Beverages, Supplements), By Product Type(Dietary Supplements, Fitness Equipment, Surgical Equipment, Other Equipment), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2917 | Region: Global | Published Date: October, 2024
Pages: 167 | Tables: 103 | Figures: 69

Weight Management Market Competitive Landscape

The weight management market is highly competitive, characterized by a diverse range of players including established multinational companies, innovative startups, and a growing number of health and wellness brands. This sector encompasses various segments such as weight loss supplements, meal replacement products, fitness equipment, and digital health solutions. The competitive dynamics are driven by continuous innovation, evolving consumer preferences, and strategic initiatives by key market participants. In March 2023, Viking Therapeutics recently disclosed the launch of a Phase I clinical research of its weight reduction drugs to assess VK2735, a dual glucagon-like peptide 1 (GLP-1) & glucose-dependent insulinotropic polypeptide (GIP) receptor.

Top Player’s Company Profiles

  • Herbalife International, Inc.
  • NutriSystem, Inc.
  • Weight Watchers International, Inc.
  • Glanbia PLC
  • Atkins Nutritionals, Inc
  • Technogym
  • Now Health Group, Inc.
  • Johnson Health Tech
  • The Kellogg Company
  • Nestle SA
  • Abbott Laboratories
  • Amer Sports
  • GNC Holdings, Inc.
  • Alticor corporation

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Global Weight Management Market size was valued at USD 142.58 billion in 2022 and is poised to grow from USD 156.75 billion in 2023 to USD 334.55 billion by 2031, growing at a CAGR of 9.94% in the forecast period (2024-2031).

The weight management market is highly competitive, characterized by a diverse range of players including established multinational companies, innovative startups, and a growing number of health and wellness brands. This sector encompasses various segments such as weight loss supplements, meal replacement products, fitness equipment, and digital health solutions. The competitive dynamics are driven by continuous innovation, evolving consumer preferences, and strategic initiatives by key market participants. In March 2023, Viking Therapeutics recently disclosed the launch of a Phase I clinical research of its weight reduction drugs to assess VK2735, a dual glucagon-like peptide 1 (GLP-1) & glucose-dependent insulinotropic polypeptide (GIP) receptor. 'Herbalife International, Inc.', 'NutriSystem, Inc.', 'Weight Watchers International, Inc.', 'Glanbia PLC', 'Atkins Nutritionals, Inc', 'Technogym', 'Now Health Group, Inc.', 'Johnson Health Tech', 'The Kellogg Company', 'Nestle SA', 'Abbott Laboratories', 'Amer Sports', 'GNC Holdings, Inc.', 'Alticor corporation'

One of the major drivers of the weight management market is the increasing incidence of obesity and lifestyle diseases such as diabetes, heart disease, hypertension etc. World Health Organization (WHO) considered obesity as a global epidemic, where people are overweight due to sedentary lifestyle, unhealthy diet and lack of physical activity or obesity. As more people experience the long-term consequences of being overweight, there is a greater demand for weight management programs, dietary supplements, meal replacements and exercise services.

Technology Integration in Weight Management Solutions: A major trend in the weight management market is the increasing use of technology to increase the effectiveness and accessibility of weight management programs. Wearable fitness devices, mobile apps, and digital platforms play an important role in tracking individual progress, providing real-time feedback and personalized insights. These technologies empower users to track their calorie intake, regular exercise, and heart rate. They help manage health issues such as sleep schedules and activity levels. Additionally, artificial intelligence (AI) is being integrated into weight management solutions to analyze user data and offer customized recommendations for virtual fitness classes, telemedicine consultation and online nutrition coaching.

Asia Pacific is the dominant regional market and had the largest revenue share of over 37.68% in 2022. The regional market is expected to maintain its leading position, growing at a rapid CAGR from the year 2024 to 2031. Rising hypertension & diabetes due to overweight & obese population. Furthermore, the paradigm shift towards non-invasive approaches is fueling the growth of the weight management industry. Other factors driving the growth of the market include increased awareness of the available options for weight loss and management. The increasing popularity of diet plans and fitness centers is expected to further boost the regional weight management market.

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Global Weight Management Market

Report ID: SQMIG35A2917

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