According to the latest report by IMARC Group, titled "Weight Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global weight management market size reached US$ 439 Billion in 2020. Weight management refers to a defined set of practices that aids an individual in losing unwanted weight by adopting a healthy lifestyle and making required dietary changes. This enables individuals to maintain healthy body weight for preventing the chances of developing diseases associated with obesity and other eating disorders. Numerous nutritionists and health care professionals who are specialized in this field prescribe shifting to meal replacement diets and consuming low-calorie food, along with an efficient exercise program, to assist individuals in maintaining their weight in a proper manner without compromising on or adversely affecting their health.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Weight Management Market Trends:
The global market is majorly driven by the increasing health consciousness among the masses. With the rising obesity rates across the globe, a majority of the population is consulting nutritionists and healthcare professionals in order to learn the skills necessary for weight management. Moreover, there has been a considerable rise in the incidences of lifestyle disorders, such as diabetes and cardiovascular disorders, due to the unhealthy lifestyles led by the masses and the increasing consumption of fast food on a regular basis. This has encouraged individuals to enroll in programs that offer weight management solutions to treat or prevent the development of such medical conditions. The market is further driven by the numerous initiatives undertaken by the governments of various countries to spread awareness regarding the importance of weight management. The increasing number of gyms and health clubs on the global level is also creating a positive outlook for the market. Some of the other factors contributing to the market growth include the rising uptake of weight-loss supplements, continual advancements in bariatric surgeries and the inflating disposable income levels of the masses. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of around 8% during 2021-2026.
- Based on the diet, the market has been segmented into functional beverages, food and supplements. Functional beverages currently represent the most popular segment, holding the largest market share.
- On the basis of the equipment, the market is dominated by fitness equipment, followed by surgical equipment.
- The market has been categorized based on the services into health clubs, consultation services and online weight loss services. Amongst these, health clubs account for the majority of the market share.
- 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.
- The competitive landscape of the market has also been examined with some of the key players being Herbalife International of America, Inc., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Brunswick Corporation, Ethicon Endo-surgery, Inc., Golds Gym International, Inc., Amer Sports Oyj, Technogym SPA, Jenny Craig Inc., Medtronic Inc., Kellogg Company, Atkins Nutritionals Inc., Apollo Endosurgery Inc., Cyber International, Inc., Johnson & Johnson, Inc. and ALPLA Werke Alwin Lehner GmbH & Co. KG.
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