Weight Management Market Motivated to Deliver Positive Growth till 2028
Posted by Arslan on February 13th, 2019
Weight Management Market Remains a Consolidated Landscape: Tier 1 companies account for a significant share of the weight management market. The leading players, including Danone S.A., General Mills Inc., Groupe Lactalis S.A., Kellogg Co., Kraft Heinz Company and Nestle S.A. collectively account for a revenue share of more than 45% of the overall weight management market. Sales and distribution strength of these companies is relatively higher with considerable presence across developed countries of Europe and North America, with key strategies being expansion through strategic acquisitions and weight management portfolio enhancement. For instance, Yakult Danone India, a joint venture between Danone S.A and Yakult Honsha Co Ltd., is further expanding its weight management product portfolio with addition of Yakult Light. Kellogg Co., has launched vegan and organic cereals with “no-added-sugar” in 2017 to cater to consumer demand for healthy diet and plant-based weight management food products.
On-going US-China trade has disrupted the international trade scenario. Both major world economies have been imposing tariffs on various consumer goods, which is likely to have an indirect impact on the import-export scenario of weight management food such as nuts and various types of seeds. Attempting to challenge Washington DC, China (Beijing) is planning on imposing a 25 percent tariff on around US$ 50 billion agricultural products.
China has started levying additional tariffs on American nuts, wheat, soybeans, and dairy products, to name a few. However, action is still pending depending on US decision on threatened tariff on Chinese goods worth US$ 200 billion, which is expected in September 2018. Trade war between the world’s two major economies continues to remain a key factor likely to impact international weight management food trade along with price alterations in both countries in the coming years.
Sustainable and long-term health and wellness has gained significant traction as consumers of all age groups are inclined toward the trend. According to United Nations’ World Population Prospects report, 2017 revealed a count of over 960 million people in 60 year age group and the count is likely to double by 2050. Additionally, over 80 percent adults in the 60-65 years age group have at least one chronic ailment or disorder, according to National Council of Aging (NCOA). Chronic disorders such as diabetes, hypertension, and heart disorders among individuals are expected to increase, reveals NCOA. Growing health concerns associated with these disorders has generated a sense of proactive consumption of healthy food such as weight management packaged food products.
Co-existing with malnutrition, the obesity epidemic has not left any region untouched. Obesity can cause mental and physical diseases impacting overall lifestyle of individual. According to World Health Organization (WHO), obesity level worldwide tripled since 1975. In 2016, over 2 million adults in the age group of 18 years and more were classified as overweight with 650 million being obese. WHO revealed that mortality due to overweight and obesity are more as compared to mortalities by underweight? Associated with various cardiovascular disorders, obesity concerns have triggered the consumption of functional foods such as weight management products. This aspect continues to influence the sales of these products, complementing the market’s growth.
Growing health conscious population has triggered the consumption of low carb diet using keto and paleo diets. Health conscious consumers are engaged in weight management, particularly weight loss using low carb diets such as keto and paleo, with keto reaching the third position in diet trends according to US National Survey. The growing adoption of keto and paleo diets have significantly boosted the consumption of various weight management foods such as oats, legumes, nuts and flax and chia seeds. Further, adoption of keto and paleo diets is complemented by increasing inclination of individuals toward latest dietary trends, which is expected to contribute to the overall sales of weight management food.
Rising concerns regarding side effects of chemicals used in weight management food products are influencing demand for natural variants. This has largely influenced the consumption of plant-based and animal-based food products as compared to artificial counterparts. Consumption of natural food products is expected to grow in the coming years as they provide higher quantity of natural antioxidants, promote decrease in LDL cholesterol, reduction in heart diseases and diabetes.
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About the AuthorArslan
Joined: December 18th, 2017
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