Dublin, July 18, 2023 (GLOBE NEWSWIRE) -- The "North America Weight Management Products Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The North America weight management products market is set to experience significant growth, with an estimated value of USD 7.78 billion in 2023, projected to reach USD 9.64 billion by 2028, at a CAGR of 4.38% during the forecast period (2023-2028).
The market is highly competitive, with the presence of numerous regional and global players. Leading the market share are prominent companies such as Abbott Laboratories, Premier Nutrition Company LLC, Simply Good Foods, Herbalife Nutrition Ltd., and Nestle S.A.
The key factors that determine the position of market players in this competitive landscape are the continuous launch of new products with different flavors and high quality. To gain a competitive advantage, brands differentiate their products based on design (size and weight), quality, and innovation.
Consumers now perceive maintaining a healthy weight as fundamental to overall well-being. As a result, they are actively seeking weight management products that can help them achieve their goals. Weight management supplements combine minerals, herbs, and fiber in various combinations and amounts to support weight management efforts.
The increasing prevalence of obesity and diabetes has made weight management supplement products popular across all age groups. Consumers are interested in weight loss supplements that not only aid in weight reduction but also improve the immune system, promote muscle mass development, and offer other benefits.
Additionally, there is a growing demand for preventive health practices as individuals strive to lead healthy, disease-free lives. According to the Harris poll report, around 15% of adults in the United States reported having at least two chronic medical conditions in 2021. Furthermore, a survey conducted by Research America revealed that approximately 5% of people in the United States suffered from obesity, while 3% had diabetes.
To meet the evolving consumer demands, major brands are shifting their focus to offer weight loss supplements that provide balanced nutrition, essential vitamins, and minerals, creating a complete nutrition package. These new products focus on overall wellness rather than solely weight reduction.
Leading companies are adopting strategic tactics such as new product development, mergers, expansions, acquisitions, and partnerships to increase their brand presence and expand their market share.
The market's growth is primarily driven by the rising prevalence of obesity and chronic diseases, growing awareness of nutrition and healthy lifestyles, the increasing number of fitness centers, and the rising disposable income across the North America region. Furthermore, the market is boosted by the growing number of regional health and fitness clubs. Product innovations, particularly in the herbal and organic slimming product segment, also contribute to the market's expansion.
As the North America weight management products market continues to evolve, it presents significant opportunities for market players to cater to the increasing demand for effective and comprehensive weight management solutions.
A selection of companies mentioned in this report includes
- Abott Laboratories
- Nestle S.A
- Herbalife Nutrition Ltd
- Woodbolt Distribution LLC
- Premier Nutrition Company LLC
- Iovate Health Sciences International
- Kellogg Company
- Ultimate Nutrition Inc.
- The Simply Good Foods Company
- Glanbia PLC
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Meal
5.1.2 Beverage
5.1.3 Supplements
5.2 By Distribution Channel
5.2.1 Hypermarkets/Supermarkets
5.2.2 Convenience Stores
5.2.3 Other Distribution Channels
5.3 By Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
5.3.4 Rest of the North America
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/58d7yb
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