Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Weight Loss Products and Services Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The global market for weight loss products and services is poised to continue its robust growth trajectory, according to a recent market research publication, with a particular emphasis on the rapidly expanding Asia-Pacific region. Following a significant increase from $298.99 billion in 2023, the market is forecast to reach $325.02 billion in 2024, demonstrating an impressive compound annual growth rate (CAGR) of 8.7%.
The historical growth of the weight loss products and services market has been fuelled by a multitude of factors, including rising obesity rates, an escalation in health consciousness, fitness trends, and the impact of social media. The elderly demographic, set to increase in the coming years, also significantly contributes to the market surge due to its unique health needs related to weight management.
Looking ahead, the market is expected to grow to an estimated $461.00 billion by 2028 with a CAGR of 9.1%. Trends such as personalized nutrition, home fitness innovations, and corporate wellness programs are key contributors to the forecast expansion. Moreover, the sector is witnessing a revolution with the digitalization of weight management and the emergence of fitness technology and genetic testing for tailored weight loss strategies.
An increasing elderly population globally is adding impetus to market growth. With World Health Organization projections estimating that by 2030, one in six individuals will be 60 or older, weight loss products and services are becoming more vital than ever in managing age-related weight issues.
The concerning rise in global obesity rates further spurs market growth. In the UK, adult obesity rates have seen a marked increase, further emphasizing the critical need for effective weight loss solutions. Industry leaders are responding with innovative solutions, including novel technology and product offerings designed to meet consumer demands for effective and accessible weight management.
Technological Innovations Lead Market Trends
- Performance Health Systems introduced cutting-edge whole-body vibration technology in their Personal Power Plate offering.
- KaraMD released Pure Health Apple Cider Vinegar Gummies, making the benefits of apple cider vinegar accessible to a broader audience.
As part of the extensive coverage of the market, the report provides a deep dive into the various weight loss product types and services, including food and beverage segments, supplements, fitness centers, and consultations among others. Additionally, the report explores the diverse distribution channels, from supermarkets to online platforms, underscoring the multifaceted nature of the industry.
The regions garnering notable attention in the weight loss products and services domain include North America, known for its sizeable market share, and especially the Asia-Pacific region, which is anticipated to lead in growth rates.
This market research report provides in-depth analysis and projections for entities involved in the weight loss products and services sector, offering an invaluable resource for strategic planning and market understanding. It highlights not only the current state of the market but also provides insights into the future, spotlighting the global and regional market dynamics that are shaping the industry.
The detailed report includes revenue statistics, market size, competitive landscapes, segment analysis, and trends shaping the future of the weight loss products and services industry, proving essential for businesses and stakeholders looking to navigate the evolving market landscape.
Key Markets Covered:
- By Products: Food; Beverage; Supplements; Other Weight Loss Products
- By Services: Fitness Centers; Slimming Centers; Consultation Services; Other Services; Fat Replacers
- By Sales Channel: Supermarkets and Hypermarkets; Convenience Stores; Retail Pharmacies; E-Commerce
Companies Profiled:
- Abbott Laboratories
- Baxter Weight Loss
- Fitbit Inc.
- GlaxoSmithKline PLC
- Boehringer Ingelheim International GmbH
- BASF SE
- Fresenius Kabi AG
- Glanbia PLC
- MuscleBlaze
- Gold's Gym International Inc.
- Hammer Nutrition Direct
- Jarrow Formulas Inc.
- Lallemand Inc
- Apollo Endosurgery Inc.
- WW Health Solutions
- Nutrisystem
- Jenny Craig Inc.
- Slimming World
- Atkins Nutritionals Inc.
- Medifast Inc.
- VLCC Healthcare Ltd.
- Curves International Inc.
- LA Fitness International LLC
- 24 Hour Fitness Worldwide Inc.
- Life Time Fitness Inc.
- Anytime Fitness LLC
- Equinox Holdings Inc.
- Crunch Fitness
- Orangetheory Fitness
- Noom Inc.
For more information about this report visit https://www.researchandmarkets.com/r/djyq0j
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