Weight Loss And Weight Management The market is expected to grow from its 2022 valuation of USD 212.87 billion to USD 430.27 billion by 2030, with a compound annual growth rate (CAGR) of 8.13%.
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Obesity is a complicated disease characterized by an excess of body fat. Obesity is more than a cosmetic issue. As a result, addressing and curing obesity is crucial. Lifestyle adjustments continue to be the foundation of treatment and are crucial for long-term weight loss and management.
Weight Loss and Weight Management Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 430.27 billion |
| Growth Rate | CAGR of 8.13 % during 2020-2030 |
| Segment Covered | Equipment, Diet, Service, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Covidien, Nutrisystem, Inc., Herbalife Nutrition Ltd., Apollo Endosurgery, Inc., Amer Sports, WW International, Inc., Technogym S.p.A, Johnson Health Tech. Co. Ltd., Ethicon, Inc., eDiets.Com Inc., Kellogg Co., Jenny Criag, Inc. and Gold's Gym among others. |
Market Definition
Weight loss is often accomplished by a mix of food and exercise, although weight management can entail a range of tactics, including good eating, regular physical activity, and Workplace stress management.
Maintaining a healthy weight is important for several reasons. First of all, being obese or overweight increases your chance of acquiring long-term health issues like type 2 diabetes, heart disease, stroke, and some cancers. Being overweight or obese can also lead to social and emotional problems such as low self-esteem and depression.
Key Market Segmentation:
Insights on Equipment:
Fitness equipment is growing at the fastest rate.
Over the course of the projection period, the category of fitness equipment is anticipated to increase at the fastest rate. This is due to a growing awareness of the value of physical activity for weight loss and overall health. People can improve their cardiovascular health, burn calories, and gain muscle with the use of fitness equipment.
Treadmills, ellipticals, stationary bikes, weight machines, and resistance bands are among the workout equipment options. These devices are suitable for use at home or in gyms.
The increased popularity of group fitness courses is also driving the fitness equipment market. These sessions provide an enjoyable and social way to workout. Zumba, Pilates, and spinning are among the most popular group exercise classes.
The surgical equipment section, in addition to the fitness equipment segment, is predicted to develop during the forecast period. This is due to an increase in the demand for minimally intrusive weight-loss procedures. These techniques are less intrusive than standard weight-loss surgery and require less time to recover.
Insights on Services:
The online weight-loss program segment is boosting
During the projected period, the online weight loss program segment is expected to develop at the quickest CAGR. This is due to the growing popularity of online services as well as the increased availability of high-speed internet.
Online weight loss programs are accessible in a variety of formats, including subscription-based programs, pay-per-session programs, and free programs. These programs often include diet, exercise, and behavior modification strategies.
The growing popularity of social media is also propelling the online weight reduction industry. Social media platforms can be used to connect with others who are trying to lose weight and to offer encouragement and support.
Aside from online weight reduction programs, the slimming centers and commercial weight loss centers segments are predicted to develop during the projection period. Slimming centers and commercial weight reduction centers provide a variety of services, including food counseling and exercise programs.
Insights on Region Analysis:
North America offers ample financing opportunities.
North America is predicted to grow at the fastest CAGR over the projection period. This is due to the rising prevalence of obesity and a greater understanding of the importance of weight loss for general health.
The growing awareness of the benefits of weight loss for overall health is also propelling expansion in the North American weight loss and weight management market. Obesity-related health risks, such as heart disease, stroke, type 2 diabetes, and various cancers, are becoming more commonly recognized. As a result, they are looking for weight-loss programs and goods.
The Asia-Pacific region, like North America, is expected to grow rapidly during the projected period. This is attributable to increased consumer disposable income in the region, which is causing an increase.
Company Profiles:
These companies have been focusing a lot on strategies including collaborative efforts, agreements, alliances, mergers and acquisitions, and new product development in order to gain a competitive advantage in the market.
Covidien, Nutrisystem, Herbalife Nutrition, Apollo Endosurgery, Amer Sports, WW International, Technogym, Johnson Health Tech, Ethicon, eDiets.com, Kellogg, Jenny Criag, Gold’s Gym, and others dominate the weight loss and weight management market.
COVID-19 Impact and Market Status
The COVID-19 pandemic has also had an effect on the weight reduction and weight management businesses. Many weight-loss programs and services have had to cease or work at a reduced level. This has made access to weight-loss services more challenging.
In contrast, the epidemic has resulted in significant advancements in the weight loss and weight management industries. For example, the use of internet weight loss programs and services has increased. These programs are accessible from any location, making them more convenient for people who are unable to join in-person weight-loss programs.
The COVID-19 epidemic has had a severe detrimental influence on the weight reduction and weight management sectors in general. However, there have been some encouraging developments, such as an increase in the usage of online weight loss programs. The weight reduction and weight management market is projected to evolve more in the coming years.
Latest Trends and Innovation:
Weight Watchers announced in 2022 that it would rebrand as WW. According to the corporation, the new name emphasizes the organization's focus on holistic health and wellness rather than just weight loss.
Noom will introduce a new weight loss program in 2022 that will utilize artificial intelligence to personalize the experience for each user. Data from users' food diaries and activity trackers is used to construct a personalized plan that incorporates diet, exercise, and behavior adjustment.
Nestle revealed plans to acquire Jenny Craig, a weight-loss company, in 2023. Nestle will have a significant footing in the weight reduction sector, and it is likely to help the business grow into other markets.
The FDA approved Wegovy, a novel weight-loss medicine, in 2023. Wegovy is an appetite-suppressant medication that acts on the GLP-1 receptor. The medicine is already being prescribed to patients in the United States and is likely to be a big participant in the weight loss industry.
Significant Growth Factors:
From 2021 to 2031, the weight loss and weight management market is predicted to rise at a 6.8% CAGR. A variety of factors are driving market expansion, including:
Obesity is becoming more prevalent. Obesity is a global epidemic, with an estimated 1.9 billion obese adults globally. As a result, there is a greater need for weight loss and weight management products and services.
Obesity is a major risk factor for a variety of chronic diseases, including heart disease, stroke, type 2 diabetes, and numerous types of cancer, and there is rising recognition of the health risks associated with it. This entails creating awareness about the significance of decreasing and maintaining weight in order to improve health.
New and innovative weight loss products and services: In recent years, a variety of new and unique weight reduction products and services have been produced.
Online weight loss programs are becoming more popular. Online weight-loss programs are becoming more popular. These programs provide a handy and cost-effective way to lose weight and can be accessed from anywhere.
Restraining Factors:
The high cost of weight loss programs and products: Weight loss programs and products can be costly, making them out of reach for certain people.
A scarcity of effective weight-loss treatments: There is no one-size-fits-all strategy to losing weight, and many treatments have just marginal success rates.
Maintaining weight loss is difficult. Even if people are able to reduce weight, maintaining the weight loss over time might be difficult.
Obesity's negative connotation: Obesity is frequently stigmatized, making it difficult for people to seek weight loss assistance.
Frequently Asked Questions (FAQ) :
The weight loss And weight mananement market is growing at a CAGR of 8.13% during the forecast period.
The weight loss And weight mananement market was valued at USD 430.27 billion
North America dominated the market for weight loss And weight mananement market and accounted for the largest revenue share.
Obesity is classified as a worldwide epidemic and has reached widespread proportions globally, accounting for over 1 billion overweight and approximately 300 million of them are clinically obese. Chronic disease and disability are the major factors contributing to the obesity burden across geographies. Growing epidemic rates reveal the intense changes in society & behavioral patterns of communities over the recent decades. Thus societal changes & global nutrition transition are driving the obesity patterns. Modernization, economic growth, urbanization & globalization of food markets are just a few factors thought to underlie the epidemic.
With the rise in income levels, the population becomes more urban; diets comprising of complex carbohydrates give way to varied diets with high amount of sugars and fats. At the same time, large shift of population opting for less physically demanding work have been observed around various economies. In Asia Pacific, the obesity level lies in the range of 5%-6% in China, Japan along with few African countries, to over 70% obese in the urban regions of Samoa. Even in countries with relatively low mark on the global front such as China, the obesity rates are almost over 20% in certain areas.
Obesity is a growing problem across the globe and more specifically in the United States. It is estimated that annually approximately 200,000 people opt for bariatric surgery in order to lose weight. There also has been a great improvement in the field of bariatric and metabolic surgery as compared to the last decade and significant evolution is expected in coming years. Greater clinical research and advancement in technology have not only made weight loss surgery safer but also overwhelmingly better as compared to other solutions. Gastric bypass and LSG are the most widely used weight loss procedures across the globe. The two of them account for over 70% of all types of bariatric surgical procedures. Laparoscopic sleeve gastrectomy has been around for over 14 years. It is a surgery that alters the capacity of the stomach by removing around 75% of its reservoir and leaving the rest of the anatomy intact.
Equipment Segment
Based on equipment, the global weight loss and weight management market is primarily segmented into surgical equipment and fitness equipment. The weight loss and weight management market is dominated by the surgical equipment making up for a market share of over 90% in 2020. Surgical procedures are often performed on highly obese people whereas fitness equipment are used for maintaining weight. Considering the economic parameters, bariatric surgeries have high cost compared to gym services, hence surgical equipment contribute to majority of market share.
The rapid growth in prevalence of type 2 diabetes & obesity has led to global threat to healthcare, and is a major cause of mortality and morbidity. Bariatric surgery has revolutionized the treatment of both these conditions but is invasive & associated with an increased risk of complications. The endobarrier devices are used in the treatment of obesity which is a thin plastic sleeve lining the first 60 cm of the small intestine and thus prevents food from digesting in the upper part of the small intestine. Generally, the procedure takes about an hour while patient is under anesthesia.
However, fitness equipment is expected to grow with the highest CAGR over the forecast period. Benefits offered by fitness equipment are assisting to improve the lifestyle and lifespan by serving the individuals to maintain ideal body weight and improve health. Owing to the benefits offered, adoption of these types of equipment have surged exponentially driving the growth of the global weight loss and weight management market.
Service Segment
On the basis of service, fitness centers and health clubs contributed the maximum revenue of over 157 million in 2020. Increase in obese population, changing lifestyle and increasing penetration of international fitness brands across numerous geographies are contributing to the growth of the segment. Fitness centers and health clubs offer many facilities such as strength, cardio, and other training types to its members at one single stop. This feature has assisted in increased gym membership witnessed all over the world. Many new players are entering the fitness centers and health clubs market with franchise and chain establishments and thus will further drive the market in the coming years.
Europe is dominating the weight loss and weight management market with more than 39.0% in 2020. Increasing adoption of fitness workouts and corporate wellness programs is contributing to the growth of the weight loss and weight management industry across the Europe. Furthermore, support from government authorities has resulted in an increase in the number of fitness centers as well as specialty clinics for bariatric surgeries within the region.
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Many organizations in Germany are promoting healthy life style through sports. As a result of which, a large number of individuals are engaging in activities such as signing up for workout programs & memberships, health-clubs or just working out at home. This is driving the growth of the weight loss and weight management market in Germany.
The U.K. is anticipated to grow at a rapid pace during the forecast period. Increasing obese population would be the key growth propellant of the weight loss and weight management market in country. Furthermore, increasing number of gyms & health clubs and various corporate health programs are boosting the growth of the market.