Weight Loss And Diet Management Market
Current Scenario
Presently, the weight loss and diet management market is highly competitive and is experiencing quick changes in technology and product launches. Apart from this, the market is witnessing rising obesity rates. The incidence of obesity has touched alarming levels globally, with approximately 30 per cent of people classified as overweight. This increase is primarily attributed to sedentary lifestyles and poor dietary habits, leading to a greater demand for effective weight management solutions. Additionally, the quick acceptance of online programs and the proliferation of fitness centers have contributed to market growth.
Drivers
Lifestyle diseases and health awareness is driving the growth of the weight loss and diet management market. The prevalence of these diseases has increased rapidly in recent years which influenced the market growth. Further, people today are more aware of the health and fitness due to the availability of information on their mobiles, contributing to the escalating demand for products and services. Moreover, there is a growing awareness of the health risks associated with obesity, such as cardiovascular conditions, hypertension, and diabetes. As consumers become more health-conscious, they are actively seeking programs and items that can help them manage their weight and improve their overall well-being.
Restraints
Intense competition and saturation is the major hindrance to the expansion of the weight loss and diet management market. With various companies providing a wide range of services and products, the market has become extremely competitive. This saturation makes it tough for new companies entering this field to distinguish themselves and capture market share.
Segment Analysis
By Diet
- Food & Beverages
- Diet Supplements
Diet supplements were the most preferred type in this category of weight loss and diet management and are estimated to capture an additional market share in the future. The busy lifestyle, extended working hours, longer screen time of both younger and office-going desk job people and the lack of sufficient exercise or physical activity all played an important role in the rise of the segment’s market size.
Whereas, the food & beverages segment also holds a decent share of the weight loss and diet management market. It is witnessing a considerable shift towards healthy eating habits.
By Equipment
- Fitness Training Equipment
- Surgical Equipment
- Minimally Invasive/Bariatric Surgical Equipment
- Non-Invasive Surgical Equipment
The fitness training equipment gained the maximum market share in weight loss and diet management and is anticipated to remain on course to experience notable progress during the forecast period. In the last few years, the sales of different types of small and medium size equipment for fitness, training, home workout or other purposes have drastically increased since COVID-19. This can be linked to the rapid expansion of e-commerce and all sorts of online delivery platforms.
On the other hand, despite this development, the surgical equipment segment is likely to maintain its steady growth rate throughout the projection time.
By Services
- Fitness Centers
- Consulting Services
Fitness centers were the most preferred segment by consumers in the weight loss and diet management market and are expected to maintain their position throughout the estimation period. This growth can be credited to the combination of various factors comprising a persistent increase in health-conscious people, higher concentration or density of fitness centers or gyms or yoga facilities, surging medical expenditure, desire for a better standard of living, etc. Besides these, the segment’s market share is believed to further elevate owing to the trends including the surging popularity of power training, opting for food as medicine, and fitness is progressively perceived as a wider lifestyle practice.
Regional Analysis
North America commands the weight loss and diet management market and is expected to witness further growth during the forecast period. The United States leads the regional market, followed by Canada. Moreover, this domination can be attributed to the presence of a notable number of obese people, a higher awareness level among consumers, strict laws, and guidelines for food and beverage companies, etc. According to a study by the Center for Disease Control and Prevention, 2023 data revealed that 1 out of 3 adults, i.e. 35 per cent, in 23 states are obese. Today, at a minimum 1 in 5 adults, i.e. 20 per cent in every state in the U.S. is suffering from obesity.
Recent Market Developments
- In October 2024, Dr. Morepen announced the introduction of a new program for weight management, named LightLife. It aims to address the problem of increasing obesity rates in India. This new program utilises scientific-proofed ingredients and a holistic method comprising exercise guidance and customised nutritional plans. Moreover, the company intends to earn a revenue of 30 crore rupees in the 1st year of this program’s launch.
- In November 2024, a weight-loss platform firm called Allurion Technologies reported the release of its AllurionMeds to provide GLP-1 medicines to patients for weight loss coupled with its AI-powered Coach Iris platform.
Browse full details of the report @ https://www.marketdataforecast.com/market-reports/weight-loss-and-diet-management-market
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