NEW
YORK, July 15, 2024 /PRNewswire/ -- The
global weight loss supplement market size is estimated to
grow by USD 1.53 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 4.96% during the forecast period.
Growing obese population is driving market growth, with a
trend towards rise in promotional and marketing activities.
However, marketing of weight management products poses a
challenge. Key market players include Abbott Laboratories,
Ajinomoto Co. Inc., Amway Corp., Bioalpha Holdings Berhad, FANCL
Corp., Glanbia plc, GlaxoSmithKline Plc, GNC Holdings LLC,
Herbalife International of America Inc., Iovate Health Sciences
International Inc., Market America Inc., Nature Sure, Natures
Sunshine Products Inc., Nestle SA, Pfizer Inc., Shaklee Corp.,
Solace Nutrition, True Protein Pty Ltd., Vitaco Ltd., and Wolfson
Holdco Ltd..
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Weight Loss
Supplement Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.96%
|
Market growth
2024-2028
|
USD 1533.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.64
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
52%
|
Key
countries
|
US, China, UK, Germany,
and India
|
Key companies
profiled
|
Abbott Laboratories,
Ajinomoto Co. Inc., Amway Corp., Bioalpha Holdings Berhad, FANCL
Corp., Glanbia plc, GlaxoSmithKline Plc, GNC Holdings LLC,
Herbalife International of America Inc., Iovate Health Sciences
International Inc., Market America Inc., Nature Sure, Natures
Sunshine Products Inc., Nestle SA, Pfizer Inc., Shaklee Corp.,
Solace Nutrition, True Protein Pty Ltd., Vitaco Ltd., and Wolfson
Holdco Ltd.
|
Market Driver
Vendors in the weight loss supplement market are utilizing
innovative strategies to boost product visibility and sales through
online channels. These tactics include concept selling, where
vendors promote the idea of fitness and weight loss to encourage
consumer adoption. Conversely, online chat forums offer a platform
for users to engage with each other and vendors, fostering product
knowledge and interaction. Amway TALK is an example of such a
forum, providing a space for users to discuss product features,
consult with experts, and learn about various Amway brands. These
forums benefit both vendors and users, as they facilitate peer
discussions and expert consultations to aid in weight loss
planning. These marketing activities are expected to fuel the
expansion of the global weight loss supplement market.
The weight loss supplement market is experiencing significant
growth due to increasing obesity and Overweight or obesity rates,
particularly among the Middle-class population and working class.
The pandemic has led to a surge in sedentary lifestyles and
unhealthy diets, creating new opportunities for weight loss
solutions. Businesses are focusing on strategic alliances,
personalized diet plans, online fitness programs, nutritional
counseling, and fitness tracking apps to cater to the growing
demand. The market comprises capsules and powders segments, with
pills being the most popular choice. However, safety and efficacy
remain key concerns. The MDPI study highlights the importance of
addressing underlying health issues like Hypertension, Diabetes,
Cardiovascular Diseases (CVDs), and cardiac arrest. Fitness
centers, Gyms, and Health clubs are exploring downstream
opportunities by offering weight management clinics and meal
replacement liquids. The boutique fitness industry is also
capitalizing on this trend by providing stress management programs
and sleep quality improvement plans. Business decisions must
consider the obstacles to weight loss, such as unhealthy diet and
sedentary lifestyles, and offer effective, sustainable
solutions.
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Market Challenges
• The weight
loss supplement market faces several challenges in its growth due
to various factors. Strict guidelines set by regulatory bodies,
such as the FDA, necessitate that weight management products adhere
to specific regulations to ensure consumer safety. The emergence of
synthetic Curcumin in the industry has raised concerns over
consumer health and industry credibility. Vendors must promote
their products responsibly to build customer trust and avoid
unethical marketing practices. Social media and online
advertisements offer new marketing opportunities but come with
their own set of restrictions, limiting the reach and messaging of
weight loss supplement advertisements. These challenges, including
the lack of uniform guidelines across regions and limited vendor
responsibility, may hinder the growth of the global weight loss
supplement market during the forecast period.
• The weight
loss supplement market faces several challenges. With the rise of
health clubs and the promotion of healthy lifestyles, consumers are
increasingly turning to natural methods for weight loss. However,
the obese population, particularly the middle-class and working
class, face obstacles such as household income and unhealthy diet.
MDPI study reveals safety & efficacy concerns, making it
crucial for companies to ensure transparency. The market comprises
pills and powders segments. The pills segment includes various
types, while the powders segment offers meal replacement liquids.
Strategic alliances with fitness tracking apps, nutritional
counseling, online fitness programs, personalized diet plans, sleep
quality improvement, stress management programs, weight management
clinics, exercise routines, health monitoring devices, and wellness
retreats can help overcome these challenges. Obesity-related
conditions like hypertension and stroke pose significant risks.
Companies must address these concerns by focusing on upstream
solutions, such as addressing the root causes of obesity and
offering comprehensive weight loss solutions that include healthy
lifestyle modifications. By prioritizing safety, efficacy, and
customer satisfaction, the weight loss supplement market can
thrive.
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challenges - Request a sample report!
Segment Overview
This weight loss supplement market report extensively covers
market segmentation by
- Distribution Channel
- 1.1 Online stores
- 1.2 Retail outlets
- Type
- 2.1 Pills
- 2.2 Powder
- 2.3 Liquid
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Online stores- Online weight loss supplement
markets witness an increasing trend towards sales through digital
channels. Consumers can now compare products from various brands
based on quality and health benefits on e-commerce platforms. With
the rise in health concerns related to weight loss supplements,
customers seek reliable sources for purchasing these products.
Online stores provide a platform for reading customer reviews and
feedback, enabling informed decisions. This transparency and
convenience will boost the demand for weight loss supplements sold
online, thereby expanding the global market during the forecast
period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Medium Chain Triglyceride (MCT) Oil market is
experiencing robust growth due to rising health consciousness and
demand for functional foods. Meanwhile, the global Weight
Management Devices market is expanding, driven by increasing
obesity rates and technological advancements. The global Weight
Management market, encompassing both dietary and physical activity
solutions, is also on the rise as consumers seek comprehensive
health and wellness strategies. These markets are propelled by
innovations, consumer awareness, and the global emphasis on
maintaining healthy lifestyles.
Research Analysis
The weight loss supplement market has experienced significant
growth in recent years due to the increasing prevalence of
overweight and obesity, driven by unhealthy diet and sedentary
lifestyles. The pandemic further accelerated this trend as people
sought ways to maintain a healthy lifestyle at home. The market is
segmented into pills and powders, with pills being the largest
segment. Businesses have adopted various strategies to expand their
reach, including strategic alliances with fitness centers, gyms,
and health clubs. However, safety and efficacy remain key concerns
for consumers, especially given the potential risks of cardiac
arrest, stroke, and other cardiovascular diseases (CVDs) associated
with obesity and unhealthy weight loss. A recent MDPI study
highlighted the importance of consulting dieticians and healthcare
professionals before using weight loss supplements. The
middle-class population and obese population are the primary target
demographics, with a growing emphasis on achieving a perfect body
physique. Business decisions are influenced by the boutique fitness
industry and the increasing number of gym members seeking
supplements to complement their fitness regimens.
Market Research Overview
The Weight Loss Supplement market has experienced significant
growth in recent years due to the increasing obesity and overweight
population, particularly in the middle-class and working class. The
pandemic has further accelerated this trend as people look for ways
to maintain a healthy lifestyle while staying at home. Businesses
in this sector employ various strategies to cater to this demand.
Capsules and powders are popular forms of weight loss supplements,
with the pills segment accounting for a larger share of the market.
MDPI studies suggest that these supplements can aid weight loss by
suppressing appetite, increasing metabolism, and reducing fat
absorption. However, safety and efficacy remain key concerns for
consumers. Fitness tracking apps, nutritional counseling, online
fitness programs, personalized diet plans, and stress management
programs are complementary offerings that help address these
concerns and provide a more holistic approach to weight loss.
Strategic alliances with gyms, fitness centers, health clubs, and
boutique fitness industries have also been instrumental in
expanding the market reach. Downstream players in the value chain
include dieticians, meal replacement liquids, and health monitoring
devices. The market faces obstacles such as regulatory challenges,
competition from alternative weight loss methods, and the high cost
of some supplements. Cardiovascular diseases (CVDs), diabetes,
hypertension, and cardiac arrest are some health issues associated
with obesity that further fuel the demand for effective weight loss
solutions. In conclusion, the weight loss supplement market is
expected to continue growing as people seek convenient and
effective ways to manage their weight and improve their overall
health. Businesses must make strategic decisions to address safety
concerns, cater to diverse consumer needs, and navigate regulatory
challenges to capitalize on this trend.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Online Stores
- Retail Outlets
- Type
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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