Exhibiting a CAGR of 7.7%, the global weight management market is expected to garner USD 725.6 Billion during the forecast period from 2022 to 2032. The growing adoption of a sedentary lifestyle is anticipated to drive the demand for an efficient weight management system.
From 2021 to 2022, the market inclined at a Y-o-Y growth rate of 8.3% to reach USD 345.5 Billion. As of 2021, the market for weight management was valued at USD 319 Billion.
| Attributes | Details |
|---|---|
| Weight Management Market CAGR (2022 to 2032) | 7.7% |
| Weight Management Market (2022) | USD 345.5 Billion |
| Weight Management Market (2032) | USD 725.6 Billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
A Growing Awareness of Healthy Lifestyles among Consumers
As consumers become more aware of healthy eating, they are more inclined to adopt healthy eating habits, which reflects in their buying behavior. Due to their mostly sedentary lifestyles and unhealthy eating habits, obesity has become a concern among consumers today.
A growing number of consumers are looking for supplements that are effective at losing weight. Weight management products can fulfill this demand by providing support for losing weight along with other nutrients for overall health. Consequently, the weight management market will continue to grow during the forecast period.
Promoting Preventive Health and Weight Loss Products to Increase Consumer Awareness
A fast-paced lifestyle and technological advancements have resulted in unhealthy lifestyle choices that have resulted in increased health problems. The desire to live longer and be healthier is one of the main drivers for the adoption of preventive health measures. Since consumers are increasingly obese, cardiovascular diseases and heart problems are on the rise. Therefore, preventive care is becoming a necessity to assist them in living healthier life.
With the advent of early diagnosis through the Internet and home monitoring devices, patients have been able to intervene earlier and address their health issues more effectively. A growing trend toward preventive healthcare has led to an increase in the consumption of dietary supplements and changes in daily routines. It is therefore expected that weight loss supplements will witness growing demand as preventive health measures.
The growing prevalence of obesity among the expanding population is expected to propel the market expansion during the forecast period. As per the World Obesity Atlas 2022, one billion people globally, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030.
This significant rise in the number of obese patients is anticipated to drive demand for an efficient weight management system. Further, growing awareness about weight management and obesity among developing nations is expected to drive market growth in the coming period.
The growing prevalence of obesity-related orders such as diabetes and cardiovascular diseases has generated demand for weight management systems. Thus, players such as Novo Nordisk, and Pfizer Inc., among others are making a significant investments to develop drugs that may help in fighting such health conditions. Novo Nordisk has seven pipeline candidates indicated against obesity, which are at the developing stages.
Rising collaborations of companies with each other are expected to strengthen the market growth during the forecast period. For instance, in September 2019, Currax Pharmaceutical announced the acquisition of Nalpropion Pharmaceuticals.
This acquisition resulted in the addition of Contrave anti-obesity medication to Currax’s product portfolio. In another occurrence, in November 2019, Novo Nordisk collaborated with UNICEF to prevent children from obesity. Such partnerships among players are expected to benefit the industry growth during the forecast period.
Principal Consultant
Key players are investing in strategic initiatives, such as mergers & acquisitions, technological collaborations, partnerships, funding & investments, and innovative product development & launches to expand their expertise & product portfolio. As an example, Cult.fit acquired a majority stake in Gold's Gym's chain of fitness centers in the country in February 2022.
The process of weight management also involves maintaining a constant weight over time. Weight management companies that are innovating in protein powders have increased their business opportunities. The fitness center brand Fitness First, based in Hong Kong, offers a wide range of award-winning nutrition supplements and protein powders.
Growing obesity cases along with increasing health concerns among the baby boomers and Gen-X, the market is expected to witness significant growth opportunities during the forecast period.
The increasing volume of bariatric surgeries and growing adoption of online weight loss & management programs are expected to affect the market positively during the forecast period. As per the Institute of Health Metric and Evaluation, 30% of the world’s population is obese. Obese is one of the major health challenges in developed and developing countries.
The growing popularity of personalized and customized diet plans as per a patient’s health condition is motivating people to opt for diet meals. Supplements such as protein mixes, capsules, tablets, and herbal powders. The ease of availability is anticipated to strengthen the industry growth in the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The increasing popularity of fitness centers and diet plans among developing nations is expected to offer significant opportunities for market expansion during the forecast period. The Gen X population is more likely to consume health clubs, which have also been identified as a potential target audience.
Further, aging baby boomers are likely to sign up for health club memberships owing to the prevalence of various long-term ailments such as; diabetes, obesity, and others, which is expected to benefit the industry during the assessment period. Health clubs offer various specialty exercise services, programs, and equipment, which is projected to widen the market size in the coming period. Some examples are Life Time Fitness Chanhassen, LA Fitness Irvine, and Million.
Additionally, the acquisitions among various fitness clubs are projected to soot the weight management market. For instance, in January 2022, Planet Fitness Inc. announced that it had inked an agreement to acquire Sunshine Fitness Growth Holdings LLC, the owner, and operator of more than 100 Planet Fitness clubs in the Southeast United States. Such initiatives are anticipated to develop the weight management system and boost the market expansion during the forecast period.
Other factors such as increasing equipment and facility spaces in fitness clubs, like hot yoga studios, metabolic testing equipment, and high altitude training rooms, among others are anticipated to offer remunerative opportunities to the weight management market in the forthcoming period.
Lack of awareness regarding obesity and the inability to afford premium health club memberships among developing countries are expected to impact the market negatively in the forthcoming period. As per IQVIA, only 2% of the total obese population is treated with prescribed medicines. Further, the presence of a limited number of market players is another cause hindering the expansion.
However, increasing disposable income and growing awareness about the available alternatives for weight loss and management can counter hampering factors and propel market expansion in the forecast period.
As per the analysis, the fitness equipment segment is anticipated to dominate the market while displaying a CAGR of 7.7% during the forecast period.
The growing inclination of Gen X towards body fitness, the increasing number of health clubs, and increasing disposable income are some of the salient factors driving the market growth during the forecast period. Developing nations are projected to play important role in driving the market in the coming period.
As per the analysis, by services, the fitness centers segment is expected to lead the market in the assessment period. The segment is projected to record a CAGR of 7.6% from 2022 to 2032.
The increasing popularity of diet plans and fitness centers among the growing population is projected to grow the market in the forecast period. Growing health concerns and rising obesity cases across the globe are expected to augment the market size in the forecast period.
According to the analysis, North America is anticipated to dominate the global weight management market during the forecast period. The U.S is projected to make the maximum contribution to developing the regional market. The country is estimated at USD 250.2 Billion during the timeframe from 2022 to 2032.
Domination of the region can be attributed to the growing popularity of fitness centers in the States. Growing cases of obesity have generated a significant demand for an efficient weight management system, which will propel the market in the forecast period. Increasing collaborations among players in the region is another factor supporting market growth.
For instance, in 2019, Metro Detroit franchise owners opened a Crunch Fitness gym in Waterford Township in the United States. It is the company’s fifth fitness center to be set up, after its other branches in Farmington Hills, Westland, Dearborn, and Taylor. Owing to such factors, the market in North America is expected to flourish in the forecast period.
As per the analysis, APAC has been recognized as the most lucrative market during the forecast period. China is expected to lead the market in APAC, garnering USD 48.8 Billion by the end of the timeframe from 2022 to 2032. The market is expected to develop significantly owing to the presence of expanding obese population in the region.
Also, a shift toward minimally invasive and non-invasive procedures is another factor boosting the expansion of the regional market. Further, growing awareness about the available alternatives for weight loss and management is another salient factor driving the market growth. Due to such factors, the market in APAC is expected to witness significant growth opportunities in the forecast period.
| Countries | Projected CAGR |
|---|---|
| USA | 7.1% |
| UK | 6.5% |
| China | 6.8% |
| Japan | 6.9% |
| South Korea | 6.7% |
Players in the global weight management market adopt various strategies to strengthen their foothold in the market. Some of the eminent players in the industry include Herbalife Nutrition Ltd., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Inc., and Brunswick Corporation.
Major Developments in the market are:
| Report Attributes | Details |
|---|---|
| Growth Rate | 7.7% CAGR from 2022 to 2032 |
| Market Value for 2022 | USD 345.5 Billion |
| Market Value for 2032 | USD 725.6 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | USD Million for Value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Diet, Equipment, Services, Region |
| Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, France, UK, Italy, BENELUX, Nordics, China, Japan, South Korea, GCC, South Africa, Turkey |
| Key Companies Profiled | Herbalife Nutrition Ltd.; NutriSystem Inc.; Weight Watchers International Inc.; eDiets.com Inc.; Brunswick Corporation; Gold’s Gym International Inc.; Amer Sports Oyj; Technogym; Jenny Craig Inc.; Atkins Nutritionals Inc. |
| Report Customization & Pricing | Available upon Request |
The market is likely to register a CAGR of 7.7% through 2032.
The market is currently valued at USD 345.5 Billion in 2022.
The market is likely to grow to a valuation of USD 725.6 Billion by 2032.
North America is likely to be a leading market during the forecast period.
Explore Healthcare Insights
View Reports
Weight Management Market
