The global weight management market was worth US$ 378 Billion in 2017. Weight management is the process of adopting the lifestyle and dietary changes to maintain healthy body weight. Most weight management strategies promote healthy eating and daily physical activity based on the person's height, gender and age. Nowadays, people are adopting various weight management programs that consist of meal replacement products, low-calorie foods and beverages, low-calorie sweeteners, green tea/herbal tea, exercise programs and surgeries.
Unhealthy lifestyles and rapid consumption of fast food have led to higher obesity rates. This has led to rising occurrences of chronic diseases, such as diabetes, obesity, high cholesterol and heart attacks. Consequently, consumers are becoming increasingly health-conscious and adopting nutritious diets and workout programs to stay healthy and fit. This represents one of the key factors driving the market toward growth. Moreover, the rising incidences of obesity and overweight are also putting a major strain on public healthcare budgets across the globe. This is prompting governments and corporations to take initiatives to reduce the prevalence of these conditions through incentives and wellness programs. In addition to this, several leading manufacturers have launched new dietary supplements containing various ingredients, such as fibers, herbs and minerals, that help consumers in attaining a better metabolism rate. This has positively impacted the weight management industry worldwide. Some of the other factors driving the market growth include increasing disposable incomes and consumer expenditure capacities, along with the emerging gym-culture and the rising uptake of weight-loss supplements. Looking forward, IMARC Group expects the market value to reach US$ 536 Billion by 2025, at a CAGR of 5.9% during the forecast period (2020-2025).
Breakup by Diet:
At present, functional beverages account for the majority of the overall market share.
Breakup by Equipment:
Fitness equipment currently dominates the market, holding the largest market share.
Breakup by Service:
Amongst these, health clubs hold the leading position in the market.
Region-wise, North America exhibits a clear dominance in the market.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players are:
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