The global weight management market is expected to reach USD 442.3 billion by 2025, according to a new report by Grand View Research, Inc. Rising number of overweight and obese population coupled with rising popularity of various commercially available solutions is fueling the growth.
Increasing initiatives undertaken by market players in collaboration with the government to raise awareness about the adverse impact on health due to obesity are further anticipated to drive the market demand. The overweight and obese population are more prone to chronic diseases including diabetes, hypertension, and orthopedic diseases. Thus, rising awareness about weight management techniques is driving the market growth.
Thanks to westernization and urbanization, there is an increasing preference toward processed food as an alternative to home-cooked food. The increase in number of nuclear families coupled with a rise in the working population have fueled the demand for easily accessible & inexpensive fast food and takeaway meals. According to Statista, in 2015, revenue of fast food industry in the U.S was 203.2 billion. A hectic schedule coupled with increasing stress are resulting in higher intake of outside and takeaway food. This trend is anticipated to trigger the market growth.
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Further Key Findings from the Study Suggest:
The growing prevalence of obesity primarily due to sedentary lifestyle and lesser physical activities is augmenting market growth.
The rising awareness of available solutions for weight loss and management is driving the growth
In diet, the beverage segment holds the largest share owing to increasing consciousness amongst people about their eating habits and adoption of general & personalized diet plans for better metabolism and losing the extra weight. Whereas, rising popularity of supplements, shake mix, tablets, and capsules are projected to grow over the forecast period.
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Fitness equipment such as cardiovascular training, strength building, and other equipment used in maintaining the weight account for the largest share in weight management.
Increasing R&D for developing minimally invasive and noninvasive equipment are anticipated to increase the usage of surgical equipment over the forecast period.
The fitness center services segment held the largest share of market, however with digitalization, online weight loss services are anticipated to grow over the forecast period.
In 2016, North America dominated the global market with the largest revenue share of over 46.0%, due to the rising overweight population and commercial availability of minimally invasive procedures and noninvasive equipment.
Asia Pacific is expected to emerge as the fastest growing region during the forecast period, primarily due to growing awareness about the importance of losing & management of extra weight in order to avoid adverse health effects coupled with improving healthcare infrastructure and emerging medical tourism.
Some of the major players are Herbalife International, Inc.; NutriSystem, Inc.; Weight Watchers International, Inc.; eDiets.com; BRUNSWICK CORPORATION; Ethicon US, LLC; and GOLD’S GYM.
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