Diet Management Products Market - Introduction
The global diet management products market is expected to experience very high growth rate in coming years. Diet management products market is segmented in terms of product type, indication type and geography.
The prime reason for the growth of the diet management products market can be attributed to the diet modifications for different kinds of diseases, rising consciousness amongst people concerned about the benefits of the balanced diet.
Diet refers to specific dietary regimen, mostly followed for reducing body weight, for a specific time period. However, commonly diet is referred to as the food consumed by us on a daily basis or over specific time period. A balanced diet refers to food having a proper balance of carbohydrates, protein, fat and other essential nutrients, required for a healthy body. The primary reason for growth of the diet management products market can be attributed to the growing number of persons inclining towards weight loss, diet modifications for various kinds of indications and increasing awareness amongst people regarding the benefits of balanced diet.
|Base Year of Estimation||2016|
|Value Estimation Year||2017|
|Forecast Period||2017 - 2025|
|Market Segmentations||By product type, indication type, region|
|Regional Scope||North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and South America|
|Report Coverage||Technology Analysis, Market Dynamics, Market Trends, Segmentation Overview and Competitive Landscape of the market|
There is a growing application of wearable electronic devices, for maintenance of calorie intake and tracking of nutritional values of products among other applications. Certain devices are also capable of tracing the health benefits of a product, when the device is utilized for viewing the smart codes present on the packaging. Such electronic devices has been aiding the diet management products market, since these devices and applications aids the consumers in understanding their shortcomings in achieving a balanced diet or the diet recommended by their health practitioners.
As of 2016, growth in demand for diet management products is driven by factors including rising demand for weight loss amongst the overweight and obese population globally, requirement for diet modification for various different types of indications and increasing awareness about the benefits of balanced diet. As of 2014, the World Health Organization (WHO) estimated that around 600 million adults were obese, 1.3 billion overweight adults and around 41 million children, below 5 years of age, were either obese or overweight. Significant factors contributing to such huge number of obese and overweight persons were the consumption of unhealthy food, leading an unhealthy lifestyle and lack of awareness on balanced diet.
The requirement for diet alteration for patients suffering from diseases, such as obesity, diabetes, rheumatoid arthritis, pancreatitis and kidney malfunctions has also been influencing the growth of this market.
Diet management products are being demanded by such persons for weight loss and modification of their current dietary regimen. This in turn is positively impacting the growth of the market. Additionally, the requirement for diet modification amongst patients suffering from diseases, such as obesity, diabetes mellitus, rheumatoid arthritis, pancreatitis and kidney malfunctions amongst others, has also been promoting the growth of the market. Furthermore, the growing awareness regarding the benefits of a balanced diet, coupled with a trend of higher consumption of packaged foods, has been promoting the growth of dietary supplements and other diet modification products, which aid in achieving a balanced diet.
However, improper usage of diet management products and presence of large number of duplicate and false products has been hindering the consumers in achieving desired results, which in turn has been hindering the growth of the diet management products market. Such duplicate and false diet management products generally don’t have any significant scientific proof of health benefit or regulatory approval. Hence such products are falsely claimed to aid in diet management. The regulatory bodies of most countries, such as the Food and Drugs Administration (FDA) of the U.S. and European Medicines Agency (EMA) has been actively seeking out such products and removing them from the market. The growth in global population has also been promoting the growth of various kinds of diseases, whose patients requires diet modification products, to resume a normal lifestyle. This is expected to offer significant growth opportunity for the market during the forecast period from 2017 to 2025.
In recent years, consumers are getting more inclined towards herbal diet management products, as they believe that these products are much safer and have multiple benefits, apart from providing the desired benefits of diet management products. In emerging economies, such as India and China among others, where there is a large base for obese and diabetic patients, consumers are highly inclined towards herbal diet management products for aiding the treatment of such diseases. Hence, several multinational corporations are utilizing this opportunity to deliver consumers with unique recipes of herbal diet management products.
By product type, the diet management products market has been segmented into weight management products, metabolism management products, dietary supplements, appetite management products, fluid management products and others. Others segment includes product types such as thyroid management, digestion boosters, thermogenesis promoters etc. Weight management products has again been segmented into weight gain products and weight loss products. By revenue, the weight management products segment was the largest segment in 2016 and is expected to retain their leading position by the end of 2025. The highest market size of this segment can be attributed to the growing awareness amongst the global population regarding the benefits of weight management and the growing demand of these products for weight loss amongst obese and overweight persons.
The weight management products segment was the largest revenue generating segment in 2016 and is likely to maintain their top position by the end of 2025.
On the basis of indication type, the diet management products market has been segmented into obesity management products, diabetes management products, kidney related disease management products, inflammation management products and others. Obesity management products are primarily concerned with diet management products for weight loss. Inflammation is caused in several diseases, such as rheumatoid arthritis and Crohn’s disease amongst others, and the patients are suggested to consume products containing higher amount of omega-3 and omega-6 fatty acids. By revenue, the obesity management products segment was the largest segment in 2016 and is expected to retain their leading position by the end of 2025. Owing to the growing number of obesity affected patients globally, demand for obesity management products is growing at a fast pace, contributing to the leading position of the segment.
In terms of revenue, North America held the largest share of the diet management products market.
By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and South America. In terms of revenue, North America held the largest share of the diet management products market. The growth of North America diet management products market is driven by rising obese population, rising diabetic population and high awareness amongst the population, with regards to benefits of consuming balanced diet. Asia Pacific is currently the second largest market, but is expected to become largest market for diet management products by end of 2025.
|By Product Type||Weight management products such as weight gain products and weight loss products, metabolism management products, dietary supplements, appetite management products, fluid management products, thyroid management, digestion boosters, thermogenesis promoters and others|
|By Indication Type||Obesity management products, diabetes management products, kidney related disease management products, inflammation management products and others|
|By Region||North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and South America|
Leading players operating in the diet management products market are Nestle S.A. (Switzerland), Danone (France), Abbott Laboratories (The U.S.) Herbalife Ltd.(The U.S.), NutriSystem, Inc. (The U.S.), and GlaxoSmithKline plc (The U.K.) among others. In the U.S., there are multiple local players that produce diet management products and these companies held significant share of the global market also as of 2016. Leading players such as Nestle, GSK and Danone focus on developing new products to retain market position and generate new revenue streams. As compared to Asia and North America, concentration of diet management products producer is low in countries from Middle East and Africa (MEA).
Considering the huge patient pool requiring diet modification, rising consumer awareness on balanced diet and growing demand for weight management, it has been estimated that the market for diet management products market is about to accelerate significantly in coming years. Due to the conjoint impacts of the driving factors, diet management products market is estimated to experience significant growth during the forecast period.
|KEY QUESTIONS ANSWERED BY THE REPORT|
|What will be the nature of growth of the market till 2025?|
|What are the major push factors that will affect the growth of the market?|
|What are the growth possibilities in different segments of the market?|
|Who are the leading market players?|
|What are the key strategies implemented by the market leaders to sustain growth in the market?|
|What are the major restraining factors for the market?|
|What are the ways to generate new revenue streams?|
|In-depth analysis of the competitive landscape and competitor behavior in the market|
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