Weight Loss Products and Services Market - Introduction
The global weight loss products and services market is expected to experience high growth rate in coming years. Weight loss products and services market is segmented in terms of types and geography. Currently, several weight loss products are present in the market, and newer products are lined up to enter the market. The same is also applicable for services offered for weight loss. The primary reason for growth of the market can be attributed to the growing number of persons suffering from obesity and increasing awareness amongst people, regarding personal health. Several organizations, healthcare institutions and gyms, among other types of organizations, are currently offering various types of weight loss products and services across the globe.
|Base Year of Estimation||2016|
|Value Estimation Year||2017|
|Forecast Period||2017 - 2025|
|Market Segmentations||By 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|
|By Type||Weight loss products such as diet supplements, meal replacements, herbal weight loss products and others, weight loss equipments such as personal equipments, professional equipments, and surgical equipments, and weight loss services such as exercise based services, surgery based services and others.|
|By Region||North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America|
Upcoming Technology Analysis
Several new technologies, product and methodologies are being experimented upon to develop advanced, faster, convenient and cost effective weight loss products and methods. Ultrasound, for instance, is reportedly being quite effective in reducing fat around the waistline and thus is being used as a method for weight loss.
Syneron Medical Ltd’sUltraShape and UltraShape Power, both ultrasound based fat removal techniques, received FDA approvals in 2014 and 2016 respectively.
Researchers at the University of California has identified certain genes in worms whose suppression can stall fat gain, despite consuming fatty and carbohydrate rich food.
Switzerland based Nestle S.A.’s Nestle Institute of Health Sciences are working on futuristic health drinks which can regulate metabolism, through enzymes, and hence can aid in better weight loss. Researchers at University of California has reportedly identified certain genes in worms whose suppression can stall fat gain, despite consuming fatty and carbohydrate rich food. The researchers believe that such discovery can aid in developing pills which can cause gene suppression and hence stop weight gain. Again, Salk Institute for Biological Studies, located in California, the U.S., is reportedly designing pills, containing a substance called fexaramine, which can mimic digestion. The institute’s research revolves around the fact that inducing digestive juice, despite not consuming any food, supposedly aids in fat loss and thus weight loss also.
As of 2016, growth in demand for weight loss products and services is driven by factors including rising overweight and obese population globally and increasing awareness for health in global population among others. As per the data of the World Health Organization (WHO), in 2014, around 600 million adults were obese while around 1.3 billion adults were overweight.
Growing consciousness amongst the global population, with respect to the advantages of leading a healthy lifestyle, is impacting the growth of this market.
Additionally, around 41 million children, who were below the age of 5 in 2014, were found to be either obese or overweight in 2014. 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. Weight loss products and services market caters to such huge consumer base and hence is expected to grow at a fast pace during the forecast period. Additionally, the growing awareness amongst the global population, with respect to the benefits of leading a healthy lifestyle, has also been positively impacting the growth of the weight loss products and services market. Furthermore, easy availability of weight loss products and services has also been promoting the growth of the market. However, lack of clear guidance and improper usage of weight loss products and services has been hindering the consumers in achieving desired results, which in turn has been hindering the growth of the market. Additionally, presence of several fake weight loss products and service providers, having no significant scientific proof or regulatory approval, has also been hindering the growth of the weight loss products and services market. With entrance of advanced technologies, lowering of weight loss products and services and growth in the obese and overweight population globally are 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 weight loss products. In emerging economies, such as India and China among others, where there is a large base for weight loss products, consumers are highly inclined towards herbal remedies for weight loss. This includes remedies such as Chinese herbal tea and ayurvedic recipes among others. Hence, several multinational corporations are utilizing this opportunity to deliver consumers with unique recipes of such herbal weight loss products. Additionally, consumers are more inclined towards losing weight at a fast pace, and hence are biased towards products offering instant or fast weight loss. In terms of services, several service providers are offering traditional weight loss training programmes, such as yoga among others. On the other hand, a trend to join gym for weight loss and development of good body shape is also gaining popularity.
By types, the weight loss products and services market has been segmented into weight loss products, weight loss equipments, and weight loss services. Weight loss products has again been segmented into diet supplements, meal replacements, herbal weight loss products and others. Additionally, the weight loss equipment’s segment has further been divided into personal equipments, professional equipments and surgical equipments. Furthermore, the weight loss services segments have been further divided into exercise based services, surgery based services and others.
Weight loss products segment was the largest segment in 2015 and is expected to keep its top place during the analysis period from 2017 to 2025.
In terms of revenue, weight loss products segment was the largest segment in 2015 and is expected to retain their leading position by the end of 2025. The higher market share can be attributed to factors such as high market penetration, easy affordability and high volumes among others.
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 weight loss products and services market. Growth of North America weight loss products and services market is driven by rising obese population and high awareness amongst the population, with regards to benefits of weight loss. Asia Pacific is expected to become second largest market for weight loss products and services by end of 2025.
Leading players operating in the weight loss products and services market are The Gold’s Gym International(The U.S.), Nestle S.A. (Switzerland), Herbalife Ltd.(The U.S.), Amer Sports (Finland), Syneron Medical, Ltd. (The U.S.), NutriSystem, Inc. (The U.S.), Atkins Nutritional, Inc. (The U.S.), VLCC Healthcare, Ltd. (India), NordicTrack(The U.S.) and GlaxoSmithKline plc (The U.K.) among others. In the U.S., there are multiple local players that produce weight loss products and services and these companies held significant share of Asian market also as of 2016. Leading players such as Nestle and Atkins focus on developing new products to retain market position and generate new revenue streams. As compared to Asia and North America, concentration of weight loss products and services producer is low in countries from Middle East and Africa (MEA).
Considering the product innovation, rising consumer base and rise in health awareness,it has been estimated that the market for weight loss products and services market is about to accelerate in coming years. Furthermore, market penetration of herbal weight loss products and development of better instant weight loss products and services are expected to drive the growth of the market. Due to the conjoint impacts of the driving factors, weight loss products and services market is estimated to experience significant growth during the forecast period.
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|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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