Weight Loss Market

Global Weight Loss Market:

The global weight loss market size reached US$ 275.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 544.7 Billion by 2032, exhibiting a growth rate (CAGR) of 7.89% during 2024-2032. The rising rates of obesity, heightened health awareness among the masses, rising celebrity endorsements coupled with extensive media coverage, and introduction of artificial intelligence (AI)-powered fitness apps are some of the major factors propelling the industrial robotics market growth.

Weight Loss Market Analysis:

• Major Market Drivers: The rising prevalence of numerous chronic conditions due to obesity, surging shift towards sedentary lifestyles, growing demand for personalized weight loss services, etc., are proliferating the weight loss market demand. Moreover, continuous technological advancements have led to the development of innovative weight loss solutions, including wearable fitness trackers, mobile apps, and online weight loss programs. These technologies make it easier for individuals to track their progress, receive guidance, and stay motivated on their weight loss journey.
• Key Market Trends: An increasing shift towards personalized nutrition and dietary plans, the emergence of telemedicine and virtual coach, growing adoption of plant-based diets, etc., are some of the key factors propelling the industry’s growth. Additionally, there's a greater emphasis on addressing the psychological and behavioral aspects of weight loss. Programs focusing on mindful eating, stress management, and behavior modification are gaining traction as people recognize the importance of mindset in achieving sustainable weight loss.
• Competitive Landscape: Some of the leading weight loss market companies are Apollo Endosurgery Inc., Brunswick Naturopathy, Gold's Gym International Inc., Herbalife Nutrition Ltd., Jenny Craig Inc., Johnson & Johnson, Johnson Health Tech. Co. Ltd., Kellogg Company, Medtronic plc, Nutrisystem Inc., TECHNOGYM S.p.A, The Simply Good Foods Company, and WW International Inc., among many others.
• Geographical Trends: According to the report, North America accounted for the largest market share. North America has one of the highest obesity rates globally, with over one-third of the population considered obese. This prevalence of obesity serves as a significant driver for the weight loss market as individuals seek solutions to combat weight-related health issues.
• Challenges and Opportunities: The weight loss market faces numerous challenges, such as regulatory barriers, customization needs, health risks and side effects, economic factors, etc. However, innovative business models and partnerships with local governments can help overcome these hurdles and drive further adoption. Moreover, the emergence of personalized solutions, technology integration, plant-based and alternative diets, etc., offer various weight loss market recent opportunities.
   

Weight Loss Market Trends:

Rising Obesity Rate

The rising rates of obesity across the world are primarily driving the market growth. The number of people suffering from obesity experienced a significant increase due to the adoption of unhealthy lifestyles and busy schedules. For instance, in 2022, around 2.5 billion adults aged 18 and over were overweight, with over 890 million adults suffering from obesity. The prevalence of overweight varies by area, ranging from 31% in the WHO South-East Asia and African Regions to 67% in the Americas. Between 1990 and 2022, the global obesity rate more than doubled. Moreover, obesity is linked to various health issues such as diabetes, cardiovascular diseases, gastrointestinal disorders, etc. This has propelled individuals to seek solutions to manage their weight. For instance, according to the Centers for Disease Control and Prevention, in 2021, around 38.4 million people suffered from diabetes i.e., nearly 11.6% of the U.S. population. These factors are further driving the demand for weight loss. Furthermore, poor dietary habits, increased consumption of processed foods, lack of exercise, and sedentary lifestyles are contributing to a higher incidence of obesity. For instance, in FY23, households classified as belonging to the urban elite segment of the population spent nearly half of their monthly food budget on packaged goods, eating out, and food delivery services. According to data from the Ministry of Statistics and Program Implementation (Mospi) and ICICI Securities, that is in contrast to 41.2% of such spending ten years earlier. These factors are further contributing to the weight loss market share.

Heightened Health Awareness Among the Masses

Heightened health awareness plays a significant role in driving the growth of the weight loss market. With a rising shift towards preventive healthcare, individuals are more proactive in managing their health. This includes efforts to maintain a healthy weight through proper nutrition, exercise, and weight management programs. For instance, in May 2024, Allurion Technologies, Inc., a firm dedicated to eradicating obesity, announced three scientific presentations at the 31st European Congress on Obesity (ECO), held in Venice, Italy, from May 12 to 15, 2024. The presentations include findings from a trial of nearly 712 patients who were treated with the Allurion Program, which is anchored by the Allurion Balloon and augmented by Allurion's patented behavior change program. The Allurion Program was designed to monitor both weight reduction and lean body mass. Additionally, the rising usage of smartphones along with an increasing number of apps are proliferating the demand for weight loss. For instance, in May 2024, MyFitnessPal partnered with MyFitnessPal Scientific Advisory Council Member Dr. Janese Laster to develop the Gut Health Nutrition Plan, which is now free for all MyFitnessPal members on the app. The week-long plan contains nutrition ideas and suggestions, quizzes to test knowledge and analyze existing eating patterns, and daily check-ins to stimulate reflection on progress and current knowledge, to assist people in weight loss. These factors are positively influencing the weight loss market forecast.

Introduction Of Government Initiatives

Governments around the world have launched public health campaigns aimed at addressing the rising rates of obesity and related health issues. These campaigns often emphasize the importance of healthy eating, regular exercise, and weight management. As a result, people become more aware of the need to take action to control their weight, which leads to increased demand for weight loss products and services. For instance, FSSAI has developed major awareness efforts to minimize salt, fat, and sugar in the diet, including 'Aaj Se Thoda Kam' and Trans-Fat Free India@75, which aim to remove trans fats by 2022. Food fortification is also widely pushed to alleviate micronutrient deficiencies across the country. Moreover, governments implement policies and regulations to promote healthier lifestyles and combat obesity. This can include measures such as taxes on sugary beverages, restrictions on advertising unhealthy foods to children, and mandates for nutritional labeling on packaged foods. Such policies create an environment that encourages people to seek out weight loss solutions to comply with healthier choices. For instance, according to the Open Access Government, in Chile, marketing limitations contributed to a 73% reduction in children's exposure to TV advertisements for unhealthy foods and a 64% reduction in overall advertising. The new laws in the nation also forbid child-directed creative content that promotes unhealthy products, including cartoons, characters, toys, and competitions. These factors are further bolstering the weight loss market revenue.

Weight Loss Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global weight loss market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on diet, equipment type, service, gender, and age group.

Breakup by Diet:

• Supplements
• Meals
• Beverages
   

Beverages dominates the market

The report has provided a detailed breakup and analysis of the market based on diet. This includes supplements, meals, and beverages. According to the weight loss market report, beverages represented the largest segment.

Weight loss beverages such as shakes and teas are easy to prepare and consume, thus fitting seamlessly into busy lifestyles. In addition, the introduction of ready-to-drink (RTD) or easy-mix beverages, which provides a convenient option for individuals seeking quick weight loss solutions, is supporting the market growth. Furthermore, the easy availability of flavored beverages that appeal to different taste preferences is positively influencing the market growth. Additionally, several weight-loss beverages are fortified with vitamins, minerals, and proteins, which caters to the health-conscious consumer, providing essential nutrients alongside weight-loss benefits. Moreover, beverages can be easily integrated into various diet plans as meal replacements or supplements. Their adaptability enables consumers to include them in different dietary regimes, enhancing their appeal. For instance, in January 2024, Abbott launched Portability, a new line of protein shakes. These specific shakes are intended for use by those who are using medications for weight loss.

Breakup by Equipment Type:

• Fitness Equipment
  • Cardiovascular Equipment
  • Strength Training Equipment
  • Others
• Surgical Equipment
  • Minimally Invasive/ Bariatric Equipment
  • Non-Invasive Equipment
     

Fitness equipment (cardiovascular equipment) hold the largest share in the market

A detailed breakup and analysis of the market based on the equipment type has also been provided in the report. This includes fitness equipment (cardiovascular equipment, strength training equipment, and others) and surgical equipment (minimally invasive/ bariatric equipment and non-invasive equipment). According to the report, fitness equipment (cardiovascular equipment) represented the largest segment.

According to the weight loss market outlook, cardiovascular fitness equipment, such as treadmills, stationary bikes, and ellipticals, are highly effective for burning calories and reducing body fat. Furthermore, they enhance heart and lung health, improving overall cardiovascular function, which, in turn, reduces the risk of heart disease, hypertension, and other chronic conditions. Additionally, cardiovascular fitness equipment is designed with user-friendliness in mind, thus making these machines approachable and manageable to use. Furthermore, cardiovascular exercises are integral components of many weight loss and fitness programs, which make this equipment a staple in gyms, fitness centers, or home settings. Moreover, the integration of technology into cardiovascular equipment, such as digital tracking, personalized workout plans, and virtual classes, adds a layer of customization and engagement that attracts users. For instance, in April 2024, SOLE Fitness launched its new Sole F65 treadmill. The treadmill was designed to be an affordable and practical choice that offers a high level of performance, new built-in features and a partial lifetime warranty.

Breakup by Service:

• Fitness Centers and Health Clubs
• Consulting Service
• Surgical Clinics
• Online Weight Loss Programs
• Others
   

Online weight loss programs hold the largest share in the market

A detailed breakup and analysis of the market based on the service has also been provided in the report. This includes fitness centers and health clubs, consulting service, surgical clinics, online weight loss programs, and others. According to the report, online weight loss programs represented the largest segment.

As per the weight loss market overview, online weight loss programs are dominating the market as they can be accessed anywhere and at any time, making them highly convenient for users with various lifestyles and schedules. Furthermore, they are more affordable than in-person coaching or gym memberships, which makes them attractive to a wider audience, including those on a budget. Additionally, the integration of advanced algorithms and digital tools, which allow personalized plans tailored to individual needs, preferences, and health conditions, is positively influencing the market growth. Moreover, several individuals prefer the anonymity and privacy of online programs, especially if they feel self-conscious about their weight. The virtual environment offers a safe space for users to pursue their weight loss goals without judgment. For instance, in April 2024, Costco Wholesale and online healthcare services provider Sesame expanded their collaboration to provide members with access to weight-loss programs, which will include prescription medications, Ozempic and Wegovy.

Breakup by Gender:

• Men
• Women
   

Women hold the largest share in the market

A detailed breakup and analysis of the market based on the gender has also been provided in the report. This includes men and women. According to the report, women represented the largest segment.

According to the weight loss market statistics, women are dominating the market owing to societal pressure and media portrayal of an "ideal" body shape, which often targets women more heavily than men. These pressures drive a higher percentage of women to seek weight loss solutions to conform to these societal norms and beauty standards. Furthermore, women often tend to be more proactive about their health and well-being. Educational campaigns about weight management and its link to overall wellness resonate more with women, leading to higher adoption of weight loss solutions. Furthermore, several weight loss products and services are specifically marketed towards women. This tailored advertising and the creation of products designed with women's needs in mind increase female participation in weight loss programs. For instance, according to the World Health Organization, in 2022, nearly 44% of women were overweight as compared to 43% of men.

Breakup by Age Group:

• Below 15 Years
• 15 to 30 Years
• 31 to 60 Years
• Above 60 Years
   

15 to 30 years hold the largest share in the market

A detailed breakup and analysis of the market based on the age group has also been provided in the report. This includes below 15 years, 15 to 30 years, 31 to 60 years, and above 60 years. According to the report, 15 to 30 years represented the largest segment.

According to the weight loss market outlook, 15 to 30 years is dominating the market due to the increasing influence of educational institutions, social media, and family environments, which is encouraging healthy lifestyles, making this age group more proactive about weight management. Furthermore, individuals within the 15 to 30 age bracket are often more involved in physical activities such as sports, dance, and fitness routines. This engagement in physical exercise naturally aligns with weight management goals. Additionally, they have a more flexible schedule and higher energy levels, allowing them to devote time to exercise and proper diet management. Moreover, the growing knowledge about the long-term impacts of obesity and overweight conditions is prompting this age group to adopt preventive measures to maintain a healthy weight.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest weight loss market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America has some of the highest obesity rates globally, which is facilitating the demand for weight loss products and services. Furthermore, the rising disposable income of the regional population, enabling more individuals to afford weight loss solutions such as gym memberships, personalized nutrition plans, and surgical interventions, is strengthening the market growth. Additionally, the growing emphasis on preventive measures and chronic disease management by regional healthcare systems, which include weight loss programs, is positively influencing the market growth. Moreover, North America is a hub for technological innovation, particularly in healthcare and fitness. The integration of technology into weight loss solutions, such as mobile apps, wearables, and online platforms, is further bolstering the market growth. For instance, in December 2023, in the United States, Eli Lilly and Company launched ZepboundTM (tirzepatide) injectables. Adults who are overweight or obese (defined as having a BMI of 30 kg/m2 or more) can utilize Zepbound.

Competitive Landscape:

Leading companies are continuously introducing innovative products and services, including advancements in dietary supplements, fitness equipment, personalized weight loss apps, and medically supervised programs. In addition, they are expanding their service offerings to encompass a broader range of weight loss solutions, such as nutrition counseling, fitness training, and surgical interventions, all under one umbrella. Furthermore, several key players are engaging in mergers and acquisitions with other firms, which allows them to tap into new customer segments and add complementary products and services to their portfolio. Additionally, companies are forming strategic partnerships with healthcare providers, fitness centers, technology companies, and even food manufacturers to provide comprehensive and integrated weight loss solutions. Moreover, they are embracing digital platforms, such as mobile apps and online consultations, to ensure that customers have on-demand access to their products and services.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Apollo Endosurgery Inc.
• Brunswick Naturopathy
• Gold's Gym International Inc.
• Herbalife Nutrition Ltd.
• Jenny Craig Inc.
• Johnson & Johnson
• Johnson Health Tech. Co. Ltd.
• Kellogg Company
• Medtronic plc
• Nutrisystem Inc.
• TECHNOGYM S.p.A
• The Simply Good Foods Company
• WW International Inc.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Weight Loss Market Recent Developments:

• May 2024: Biocon Ltd. signed a distribution and supply agreement with Medix, for the commercialization of its drug Liraglutide, used in the treatment of chronic weight management.
• May 2024: WAT Medical, innovative healthcare solutions, developed ObeEnd, the world's first weight management wristband.
• May 2024: MyFitnessPal partnered with MyFitnessPal Scientific Advisory Council Member Dr. Janese Laster to develop the Gut Health Nutrition Plan.

Weight Loss Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the weight loss market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global weight loss market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the weight loss industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.