Due to the presence of a large number of players, the global weight management market is highly fragmented, states Transparency Market Research in a report. To meet the weight management requirements of consumers across the world, companies operating in the global weight management market are focusing on the development of new and advanced equipment and innovative diets for weight loss and management. Leading companies in the global weight management market are also expanding their consumer base by providing products ranging from supplements, beverages, meals, surgical and fitness equipment such as fitness monitoring equipment, body composition equipment, strength training equipment, and cardiovascular training equipment.
To expand their reach, weight management service providers are also entering into long term agreements and mergers and acquisitions with equipment and diet providers. Key players operating in the global weight management market by diet are Kellogg Company, NutriSystem, Inc., Herbalife Ltd., and Atkins Nutritionals. Based on equipment, the prominent companies in the global weight management market are Technogym SpA, Johnson Health Technology, Brunswick Corporation, Olympus Corporation, Apollo Endosurgery, Covidien plc, and Ethicon, Inc. The leading players in weight management market in the service segment are Fitness First Group, Life Time Fitness, Inc., Equinox, Inc., Duke Diet & Fitness Center, The Gold’s Gym International, Slimming World, VLCC Healthcare, Jenny Craig, and Weight Watchers International, Inc.
The equipment and device segment dominated the global weight management market until 2015 with the weight management services segment being poised for strong growth. Geographically, North America led the global weight management market in 2015 owing to the rise in the number of obesity cases across the region. Due to the increasing adoption of western lifestyle, Asia continues to remain the most lucrative market for vendors to capitalize on.
Rising Health Concerns to Aid Demand for Weight Management Services and Products
Due to changing lifestyles and a shift in food habits, the number of obesity cases and lifestyle diseases has significantly increased. As a result of this, the demand for efficient weight management services on the rise. The need for maintaining a healthy lifestyle is lifting the demand for diet consulting centers, weight loss equipment, and fitness centers. Moreover, the burgeoning demand for bariatric surgery is further expected to boost the demand for weight management equipment. The rise in disposable incomes of consumers across the world accompanied by support from governments in the form of incentives and subsidies, and technological advancements taking place in developing high end weight management equipment are likely to augment the growth of the global weight management market.
Expensive Weight Management Equipment and Diets to Inhibit Adoption of Weight Management Services
Weight management equipment is expensive which makes it unaffordable for middle class consumers. The cost of training and weight loss programs is also substantially high. Moreover, the mounting cost of low-calorie diets and food products is likely to cause consumers to refrain from the adoption of a low calorie diet in their daily lifestyle. Additionally, deceptive marketing strategies are anticipated to impede the growth of the global weight management market. Manufacturers of weight management equipment and food products are likely to face challenges in order to meet government-imposed regulatory standards.
Request a Free PDF Brochure with Report Analysis:
Untapped Market in Emerging Economies to Provide Profitable Future Growth Prospects to Vendors
Asian countries are expected to serve as the potential future markets for weight management equipment and diet owing to a rise in child obesity rates and shift towards western lifestyle in the region. The advent of online weight management services and programs is likely to provide lucrative opportunities to manufacturers to capitalize on. The rise in disposable income of consumers in developing regions is further expected to drive the growth of the global weight management market.