According to the latest report by IMARC Group, titled “Weight Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global weight management market size reached US$ 189.8 Billion in 2018.
Weight management refers to the process that helps individuals to achieve and stay at the best weight possible, concerning their overall health, occupation, and lifestyle. As people these days are becoming more health-conscious, they are consulting nutritionists and healthcare professionals to follow proper diet plans and workout programs to stay fit and healthy. These weight management programs enable them to attain good health and foster a better lifestyle.
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Over the years, sedentary lifestyle habits and rapid consumption of fast food have led to higher obesity rates, thus increasing the prevalence of chronic diseases across the globe. As a result, individuals have become more conscious of their eating habits. Along with this, several initiatives undertaken by the governments and private organizations to reduce the prevalence of obesity through wellness programs, are providing a positive thrust to the market. In addition to this, manufacturers are launching dietary supplements containing various ingredients, such as fibers, herbs and minerals, that help consumers in attaining a better metabolism rate and strengthening their immune system. Moreover, people are increasingly opting for weight-loss surgeries, such as gastric bypass, sleeve gastrectomy, adjustable gastric band and biliopancreatic diversion, which is also contributing to the market growth. Rising disposable income levels and growing inclination toward physical activities are some of the other factors that are creating a positive outlook for the market.
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- Based on the diet, the market has been segmented into beverages, meals and supplements. Beverages currently represent the most popular segment, holding the largest market share.
- On the basis of the equipment, the market is dominated by fitness equipment, including strength training, cardiovascular training and other equipment. It is followed by surgical equipment, which comprises minimally invasive/bariatric and non-invasive surgical equipment.
- The market has been categorized based on the services into fitness centers, slimming centers, consultation services and online weight loss services. Amongst these, online weight loss services account for the majority of the market share.
- Region-wise, North America exhibits a clear dominance in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined with some of the key players being Herbalife International, Inc., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Brunswick Corporation, Ethicon Endo-surgery, Inc., Golds Gym International, Inc., Amer Sports, Technogym SPA, Jenny Craig Inc., Medtronic Inc., Kellogg Company, Atkins Nutritionals Inc., Apollo Endosurgery Inc., Cyber International, Inc., Johnson & Johnson, etc.
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