Ottawa, April 04, 2024 (GLOBE NEWSWIRE) -- The global weight management market size was valued at USD 150.63 billion in 2023 and is predicted to surpass around USD 293.57 billion by 2031, a study published by Towards Healthcare a sister firm of Precedence Research.
Report Highlights:
- Protein supplements lead the supplements segment with over 15% of the market share in 2023.
- Fitness equipment was the widely used equipment for weight management in 2023.
- The service segment held a significant 30% market share on 2023.
According to an article by Narayana Health, India ranks second globally with 14.4 million obese children, leading to a significant increase in demand for weight management. This high number of overweight and obese individuals is associated with a rise in chronic diseases such as diabetes, hypertension, and orthopedic conditions.
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In today's world, the struggle with weight is a common concern that touches the lives of countless individuals. The effects of being overweight extend far beyond physical appearance, reaching into the fabric of our daily lives. It's not just about fitting into a specific clothing size or conforming to societal standards; it's about health, confidence, and overall well-being. Being overweight can lead to a myriad of health problems, from diabetes and heart disease to joint pain and fatigue. But the impact goes beyond the physical realm and affects us emotionally and mentally. The constant worry, feeling judged, and self-consciousness weigh heavily on our minds and hearts.
People are coming together to support one another on their weight loss journeys. Whether through online communities, support groups, or professional services, individuals find the encouragement and guidance they need to make positive changes. It's about more than just shedding pounds; it's about reclaiming our health and lives. With determination, perseverance, and the support of others, we can overcome the challenges of weight and emerge stronger, happier, and healthier versions of ourselves. So let's lift each other, celebrate progress no matter how small, and continue striving towards a future where weight no longer holds us back from living our best lives.
The World is Confronted With a Pressing Issue of Obesity
According to the World Health Organization (WHO), an adult with a body mass index (BMI) of 25 or higher is considered overweight. If their BMI is 30 or higher, they're classified as obese. Both terms indicate a risk of health issues due to excess body fat. The world is facing a severe problem: obesity. It's not just about how we look; it's about our health. More and more people are struggling with weight-related issues like diabetes, heart disease, and even cancer. This isn't something we can ignore anymore. It's a crisis that demands action.
The increasing number of people becoming obese in the growing population is likely to drive the market's growth in the future.
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For instance,
- According to the World Obesity Atlas 2022, around one billion people worldwide will have obesity by 2030. This includes approximately 1 in 5 women and 1 in 7 men.
But there's hope. People are searching for ways to tackle their weight problems head-on. They're trying everything from diets and exercise to medical treatments and lifestyle changes. And because of this demand, the weight loss industry is booming. New products, services, and technologies are constantly popping up, all aimed at helping people shed those extra pounds and live healthier lives.
Even more encouraging is that everyone realizes that obesity isn't just about eating too much or not exercising enough. It's a complex issue that requires a multifaceted approach. That's why doctors, policymakers, and communities are coming together to find solutions. They're focusing on prevention, education, and intervention to turn the tide against obesity.
In the end, it's about more than just losing weight. It's about reclaiming our health, our happiness, and our future. The weight loss industry isn't just about making money; it's about making a difference. And as we continue to prioritize health and wellness, we can build a brighter, healthier future for ourselves and future generations.
New Technology Helps People Keep Track of Their Health and Make It Better
Technological advancements have revolutionized how we approach weight management, making it easier and more convenient for individuals to track and improve their health. One significant innovation is wearable fitness trackers, like smartwatches or bands you wear on your wrist. These devices can monitor your daily activity levels, including steps taken, calories burned, and even sleep patterns. Providing real-time feedback and data on your physical activity helps you stay motivated and accountable towards your fitness goals.
For instance,
- On September 1, 2022, Zepp Health, now overseeing the Amazfit brand, introduced its latest models, the Amazfit GTR 4 and GTS 4. Initially developed by Huami Technology and later acquired by Zepp Health in 2021, these smartwatches emphasize fitness and health monitoring. Offering extensive features like heart rate tracking, SpO2 measurement, sleep analysis, and stress monitoring, they target individuals seeking a comprehensive wellness solution. With their extended battery life and diverse sports modes, these watches cater to a broad spectrum of users seeking to manage their well-being effectively.
Mobile apps have also become essential tools for weight management. Some apps allow you to track your diet by logging your meals and counting calories. Some apps even offer personalized meal plans and recipes personalized to your dietary preferences and goals. Additionally, many apps provide workout routines and exercise demonstrations, making it easier to stay active and fit.
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Online coaching programs have also gained popularity, offering personalized guidance and support from fitness professionals and nutritionists. These programs often include virtual consultations, customized workout plans, and ongoing motivation and accountability through messaging or video calls. With the convenience of online access, individuals can receive expert guidance and support from the comfort of their own homes.
- On April 15, 2020, the World Health Organization (WHO) introduced a chatbot on Facebook Messenger to fight false information about COVID-19. More than 12 million people have already used WhatsApp's WHO Health Alert service. In places struck by COVID-19, messaging on Facebook's apps had increased by over 50%. With the addition of Facebook Messenger and other related channels, the WHO Health Alert could reach 4.2 billion individuals, helping them stay safe from COVID-19, stop its spread, and get accurate information about the disease.
- In December 2020, Kainos Capital, a company specializing in managing food and consumer businesses, bought Nutrisystem from Tivity Health for $575 million. The private Capital Group of MSD Partners, LP teamed up with Kainos Capital in the deal, investing in preferred and common equity.
Herbal Tea is Proving to be Very Helpful for Managing Obesity
Herbal tea has become increasingly popular as a weight loss drink due to its perceived health benefits and natural ingredients. Unlike traditional tea, herbal tea is made from dried herbs, flowers, fruits, or spices, often infused in hot water to create a flavorful and aromatic beverage.
For instance,
- In January 2021, Herbalife Nutrition, a well-known nutrition company, agreed to buy back about $600 million worth of its shares from Carl C. Icahn and his associates for $48.05 per share.
Many herbal teas are believed to aid in weight loss by promoting metabolism, reducing appetite, and improving digestion. For example, green tea is rich in antioxidants called catechins, which help increase calorie burning and fat oxidation. Similarly, dandelion tea is known for its diuretic properties, which can help reduce water retention and bloating.
Product Offerings
Green Tea: Green tea is rich in epigallocatechin gallate (EGCG), a compound believed to boost metabolism and fat burning.
Ginger Tea: Ginger may help reduce feelings of hunger and improve satiety, potentially leading to decreased calorie intake.
Dandelion Tea: Dandelion is a natural diuretic, which may help reduce bloating and water weight. However, it's important to note that this does not equate to actual fat loss.
Peppermint Tea: Peppermint tea may help improve digestion and reduce feelings of nausea, which can sometimes lead to overeating.
Some herbal teas, such as chamomile or lavender, may help reduce stress and improve sleep quality, which is essential in weight management.
It's essential to note that while herbal tea can complement a healthy lifestyle and weight loss regimen, it is not a magic solution. Sustainable weight loss requires a balanced diet, exercise, and healthy habits. Additionally, individual responses to herbal teas may vary, and it's always best to consult with a healthcare professional before making significant changes to your diet or lifestyle.
Herbal tea's popularity as a weight loss drink stems from its natural ingredients and potential health benefits. Incorporating herbal teas into your routine can be a refreshing and enjoyable way to support your weight loss journey. Still, it should be part of a comprehensive approach to healthy living.
Browse More Insights of Towards Healthcare:
- The global smart implants market size surpassed USD 4.1 billion in 2022 and is to hit USD 22.5 billion by 2032, expanding at a CAGR of 18.2% from 2023 to 2032.
- The global healthcare automation market was valued at USD 34.50 billion in 2022 to become USD 80.28 billion by 2032, expanding at a 9.3% of CAGR from 2023 to 2032.
- The global medical cannabis market size to rise from $11.60 billion in 2022 to hit a presumed $40.48 billion by 2032, expanding at a 13.8% of CAGR between 2023 to 2032.
- The global huntington's disease treatment market size to expand from $601 million in 2022 to reach around $1,217.10 million by 2032, increasing at a CAGR of 7.8% between 2023 to 2032.
- The global insulin market size surpassed $28.33 billion in 2023 and is projected to hit $41.63 billion by 2033, growing at a 4.2% of CAGR from 2023 to 2033.
- The U.S. home infusion therapy market size to expand from $16.99 billion in 2023 to hit a presumed $32.81 billion by 2033, at a 7.3% of CAGR between 2023 and 2033.
- The global electronic health records (EHR) market boomed $ 27.42 billion in 2023 and is expected $ 41.87 billion by 2033, growing at a 5.1% of CAGR from 2023 to 2033.
- The global burn care market size surpassed USD 2.73 billion in 2023 and is set to blaze USD 4.41 billion by 2033, expanding with a 7.1% of CAGR from 2023 to 2033.
- The U.S. child care market size surpassed USD 59.87 billion in 2023 and is estimated to hit 88.22 billion by 2033, growing at a 4.3% of CAGR from 2023 to 2033.
- The global legal marijuana market size was valued at $30.75 billion in 2023 and is projected $113.26 billion by 2033, registered a at 14.4% of CAGR from 2023 to 2033.
Low-calorie Foods are Often Pricey, Posing a Challenge for Many to Afford
The high cost of low-calorie diets presents a significant barrier for many individuals, particularly those from medium- and low-income families. Low-calorie foods and beverages often undergo additional processing to reduce their calorie content, which increases production costs. Additionally, these products are typically enriched with vitamins and minerals to maintain nutritional value, further contributing to their expense.
Individuals with limited financial resources often seek out more affordable alternatives for weight loss, such as acupressure therapy, acupuncture therapy, and Ayurvedic treatments. These alternative therapies offer perceived benefits for weight loss without the high price tag associated with specialized diet foods and onsite fitness programs.
It's essential to recognize that while these alternative therapies may offer some benefits, they may provide a different comprehensive approach to weight management than a balanced diet and regular exercise. Additionally, the effectiveness of these treatments for weight loss varies among individuals, and their long-term sustainability may need to be revised.
The high cost of low-calorie diets poses a significant challenge for individuals from medium- and low-income backgrounds, leading many to seek more affordable weight loss alternatives. While alternative therapies may offer short-term solutions, addressing the underlying factors contributing to weight gain, such as diet and exercise habits, remains essential for sustainable and long-term weight management.
Geographical Landscape
The weight management market in North America is vast and influenced by various factors. One key driver is the region's high obesity rates and increasing awareness of health issues. The United States and Canada play significant roles in this market, investing heavily in weight loss programs and products. Within North America, different regions show varying levels of obesity, dietary habits, and cultural attitudes toward weight loss. Urban areas generally have more demand for weight loss services due to better access to fitness facilities and health-conscious options, while rural areas may lack such resources. The availability and quality of healthcare infrastructure also affect market dynamics, with regions having well-established systems seeing higher adoption rates of professional weight loss services.
In the Asia-Pacific region, cities like China, Japan, South Korea, Australia, and India are seeing more people interested in losing weight because lifestyles are changing, cities are growing bigger, and folks are becoming more aware of health and fitness. In these places, you'll find lots of gyms, fancy resorts focusing on wellness, and internet programs for weight loss, all aimed at helping people who want to stay healthy.
For instance,
- In Australia, a lot of people have too much body fat, with about 75% of men and 60% of women being overweight or obese. Even 25% of kids have this problem. This leads to more diseases like heart problems and diabetes becoming more common.
Additionally, countries like Thailand and Malaysia are into traditional ways of staying healthy, like Ayurveda from India and Chinese medicine. These methods are becoming popular because they offer a holistic approach to weight loss, considering both body and mind. Whether high-tech gyms or ancient healing practices, people across Asia-Pacific are looking for ways to manage their weight and stay healthy.
Competitive Landscape
In the weight management market, big companies are known worldwide, and smaller local ones and new startups are trying to get more customers and develop new ideas. The big companies have been around for a long time and are famous for their weight loss programs and products. They spend a lot of money on advertising and have many customers. But now, there are also smaller companies focusing on health and wellness. They use technology like apps and gadgets to help people track their food and exercise and give them advice. Some companies even make medicine that doctors can prescribe to help people lose weight. With the internet, many new small businesses have also popped up. They might sell special foods or offer unique services like delivering meals to your home or giving advice online. And don't forget about traditional ways of losing weight, like acupuncture or herbal remedies – they're also popular!
Recent Developments
- In June 2022, Herbalife Nutrition made a deal with Notre Dame basketball player Blake Wesley to promote their sports nutrition products. Wesley had been training at the Herbalife Nutrition IMPACT Basketball Center.
- In January 2022, Planet Fitness Inc. agreed to buy Sunshine Fitness Growth Holdings LLC, which owned and ran over 100 Planet Fitness gyms in the Southeast United States. These moves were expected to improve the weight management system and help expand the market in the future.
- In February 2022, Cult. Fit bought many of the country's Gold's Gym's fitness centers.
Weight Management Market Players
- Herbalife Ltd.
- Weight Watchers International
- Jenny Craig
- Medifast Inc.
- Atkins Nutritionals, Inc.
- Nestlé
- Kellanova
- Johnson & Johnson Services, Inc.
- Olympus Corporation
- Medifast Inc.
- Nutrisystem Ltd.
Weight Management Market Segments
By Diet
- Meal Replacements
- Low-Calorie Sweeteners
- Low-Calorie Food
- Organic Food
- Beverages
- Diet Soft Drinks
- Herbal Tea
- Slimming Water
- Other Low-Calorie Beverages
- Supplements
- Protein
- Fiber
- Green Tea Extract
- Conjugate Linoleic Acid
By Equipment
- Fitness Equipment
- Cardiovascular Training Equipment
- Strength Training Equipment
- Other Fitness Equipment
- Surgical Equipment
- Minimally Invasive Surgical Equipment
- Non-invasive Surgical Equipment
By Service
- Fitness Centers
- Slimming Centers
- Consulting Services
- Online Weight Loss Programs
By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.
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