Wilmington, Delaware, United States, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Weight management is referred to as the technique or processes adopted by an individual either solo or in a support group that will help him attain a certain weight that is considered healthy. Weight management technique includes both losing and gaining weight and differs from person to person depending on their lifestyle and body mass index. During the COVID 19 pandemic, weight management gained popularity so as to reduce the spreading of infection among high risk patients.
The rising prevalence of obesity among people is a key growth drive increasing the sales projections of the global weight management market. This is owing to the adoption of sedentary lifestyle, irregular eating and sleeping habits and consumption of high calorie intake with no nutrients and more fat or carbohydrate content for prolonged periods.
According to a research report on the weight management industry by TMR, the market is projected to rise at a CAGR of 4 % and reach a value of USD 11.1 Bn by the end of 2031. In 2020, this market earned USD 7.2 Bn and is projected to rise significantly during the forecast period set between 2021 and 2031.
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Increasing Rate of Obese Population will Boost Market Growth
The increasing rate of obese population will serve as a key growth driver augmenting the demand weight management. According to the World Obesity Atlas record of 2022, an estimated 1 billion people including 1 in 7 men and 1 in 5 women will be living with obesity by the end of 2030. Additionally, the increasing efforts by governments to create awareness and mark initiatives for weight management will further help this market witness new growth opportunities in the coming years.
Increasing Popularity of Fitness Centers will Promote Growth
The growing inclination towards health and fitness has been one of the positive outcomes of the bariatric population. Emergence of health clubs, hot yoga, zumba classes, and other forms of fitness centers, coupled with the rising inclination towards maintain strict diet suggested by professional nutritionists serve as the emerging trends of the global weight management market. The rising prevalence of various long terms diseases such as obesity, diabetes, and others will help increase the adoption of weight management schemes, thereby aiding in favour of this market’s growth in the forecast period.
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Online Segment Earn Largest share Owing to Rising Penetration of Internet
On the basis of sales channel, the global weight management market is categorized into hypermarket/ supermarket pharmacy & drug stores, healthy & beauty stores, online retail, and other retail channels. Among these, the online retail segment emerged as the largest revenue generator for weight management market. This is owing to the increasing penetration of internet that informs, and educates consumers about various aspects of health and fitness and the easy availability of weight management apps across a number of online platforms.
North America earned Largest Shares Owing to High Prevalence of Obese People
Regionwise, North America earned the largest shares for the weight management market on account of the high prevalence of obese population in the states of United States and Canada. The U.S. accounts for the largest share of obese population as well as the highest rate of diabetic population. The increasing awareness about health and fitness among consumers in this region and the high scope of gym memberships and fitness club enrolments will further help this region continue to dominate the market in the forecast duration.
Players focusing on Brand Expansion to Obtain Significant Impetus
The nature of competition for the global weight management market is fragmented on account of the presence of multiple players. Besides the usual merger and acquisition and joint ventures, players are focusing on expanding their brand in the untouched regions so as to establish notable position in the market competition.
Some of the key players of the global weight management market include Nature’s Way Products LLC., Arbonne International LLC, Nature’s Sunshine Products Llc., NOW Health Group Inc., Vitaco Health Limited, Forever Living, HerbaLife Nutrition Ltd., Nu Skin Enterprises Inc., Amway Melaleuca Inc., GNC Holdings Inc., and others.
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The global Weight Management market is segmented as follows:
By Form
- Soft Gels/Pills
- Powder
- Liquid
By End User
- Men
- Women
- Senior Citizens
By Sales Channel
- Hypermarkets/Supermarkets
- Health & Beauty Stores
- Drug & Pharmacy Stores
- Online Retail
- Other Retail Channels
By Geography
- North America
- Europe
- Latin America
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
- Japan
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