IMARC Group, a leading market research company, has recently releases report titled “Weight Loss Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global weight loss market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the weight loss market?
The global weight loss market is expected to exhibit a growth rate (CAGR) of 8.3% during 2023-2028.
What is weight loss?
Weight loss refers to a reduction of the total body mass index (BMI), such as body fat, bone mineral deposits, muscle, tendon, and other connective tissue. It aids in minimizing the risk of heart diseases, reducing blood pressure, and managing the sleep cycle. It comprises the consumption of a balanced diet, including vegetables, fruits, and nutrient-rich food products, and adopting an active lifestyle. It also involves physical activities, such as walking, jogging, running, cycling, swimming, weight training, interval training, yoga, and Pilates.
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What are the growth prospects and trends in the weight loss industry?
The increasing prevalence of chronic diseases, such as obesity, high cholesterol levels, and diabetes, represents one of the major factors positively influencing the need for weight loss around the world. In addition, the rising health consciousness among the masses on account of hectic work schedules, unhealthy dietary patterns, and sedentary lifestyles of individuals is driving the adoption of a nutritious diet and weight loss program. It can also be accredited to the growing influence of social media and the rising consciousness among individuals about their physical appearance. Moreover, the increasing number of fitness and yoga centers and health clubs that help in sustaining healthier lifestyles is driving the market.
Apart from this, the rising consumption of dietary supplements in daily routines for improving overall health and maintaining a healthy lifestyle is contributing to the market growth. The increasing awareness about surgical procedures, such as bariatric surgeries, liposuction, panniculectomy, abdominoplasty, excisional body lifts, and naturopathy-induced weight loss solutions, is favoring the market growth. Furthermore, several governing agencies are introducing incentives and wellness programs to promote the adoption of weight management techniques, including yoga and exercise sessions which are creating a positive outlook for the market. Besides this, the increasing influence of celebrities and social media influencers that are encouraging a healthy lifestyle through social media platforms is offering lucrative growth opportunities to leading players operating in the industry. Additionally, product manufacturers are introducing smart bands with increased battery life, multiple sport modes, and health tracking functionalities that are anticipated to impel the growth of the market. There is a rise in the launch of mobile applications for constant monitoring, which promote exercise for weight loss to enhance the experience of the user on account of rapid digitization, considerable reliance on smartphones, and rising penetration of high-speed internet connections. This, in turn, is also projected to provide a favorable outlook in the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Diet:
- Supplements
- Meals
- Beverages
Breakup by Equipment Type:
- Fitness Equipment
- Cardiovascular Equipment
- Strength Training Equipment
- Others
- Surgical Equipment
- Minimally Invasive/ Bariatric Equipment
- Non-Invasive Equipment
Breakup by Service:
- Fitness Centers and Health Clubs
- Consulting Service
- Surgical Clinics
- Online Weight Loss Programs
- Others
Breakup by Gender:
- Men
- Women
Breakup by Age Group:
- Below 15 Years
- 15 to 30 Years
- 31 to 60 Years
- Above 60 Years
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Apollo Endosurgery Inc.
- Brunswick Naturopathy
- Gold’s Gym International Inc.
- Herbalife Nutrition Ltd.
- Jenny Craig Inc.
- Johnson & Johnson
- Johnson Health Tech. Co. Ltd.
- Kellogg Company
- Medtronic plc
- Nutrisystem Inc.
- TECHNOGYM S.p.A
- The Simply Good Foods Company
- WW International Inc.
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