Weight Loss Products And Services Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast

Posted by Amruta Pritam on May 9th, 2024

Overview and Scope

Weight loss products and services refer to the products that assist in a person's total body weight reduction by losing muscle, water, and fat. A weight loss service will provide tips on maintaining a healthy weight over the long term and help you lose weight gradually and securely. Weight loss products and services are used by consumers facing the issues of excess body weight and obesity to get into better shape.

Sizing and Forecast

The weight loss products and services market size has grown strongly in recent years. It will grow from 8.99  billion in 2023 to 5.02  billion in 2024 at a compound annual growth rate (CAGR) of 8.7%.  The  growth in the historic period can be attributed to increasing obesity rates, growing health awareness, fitness and wellness trends, social media influence, medical conditions and comorbidities, dietary trends and preferences, accessibility of information, government initiatives..

The weight loss products and services market size is expected to see strong growth in the next few years. It will grow to 1  billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.  The growth in the forecast period can be attributed to personalized nutrition, home fitness trends, corporate wellness programs, genetic testing for weight management, regulatory support and guidelines, focus on mental health.. Major trends in the forecast period include digitalization of weight management, fitness tech integration, dna-based weight management solutions, cultural sensitivity and inclusivity, regulatory scrutiny and transparency..

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Segmentation & Regional Insights

The weight loss products and services market covered in this report is segmented –

1) By Products: Food, Beverage, Supplements, Other Weight Loss Products

2) By Services: Fitness Centers, Slimming Centers, Consultation Services, Other Services, Fat Replacers

3) By Sales Channel: Supermarkets And Hypermarkets, Convenience Stores, Retail Pharmacies, E-Commerce

North America was the largest region in the weight loss products and services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the weight loss products and services market report during the forecast period. The regions covered in the weight loss products and services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising ageing population is expected to propel the weight loss products and services market. The ageing population refers to an increase in the proportion of elderly people due to changes in the age structure of a population. Weight loss products and services help the ageing population who are obese and have a high prevalence of being overweight due to age-related changes in body composition, characterized by a gradual increase in fat content and a decline in lean mass and bone density. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, globally, 1 in 6 people will be 60 or older by 2030, and there will be a double amount of individuals in this age group (2.1 billion) by 2050.  Additionally, for instance, in June 2021, according to the UK Parliament's House of Commons Library, a UK-based information resource, by 2043, there will be a rise in the senior population in the UK, which will make up 24% of the total population (17.4 million people).  Therefore, the rise in the ageing population is driving the growth of the weight loss products and services market.

Key Industry Players

Major companies operating in the weight loss products and services market report are 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.

The weight loss products and services market report table of contents includes:

1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

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