Weight Loss Supplements Industry Overview
The global weight loss supplements market size was valued at USD 33.4 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 16.6% from 2021 to 2028.
The rising cases of obesity and related health ailments, such as Cardiovascular Diseases (CVDs), diabetes, and hypertension, are expected to drive product demand. As per the World Health Organization estimates in June 2021, approximately 2.8 million individuals die every year due to overweight or obesity. In addition, as of 2021, WHO estimates approximately 115 million individuals are suffering from obesity-related ailments in developing countries. Therefore, the growing dependency on weight loss supplements to maintain normal body weight is expected to propel market growth.
Gather more insights about the market drivers, restrains and growth of the Global Weight Loss Supplements Market
Moreover, increasing disposable income and growing concerns about maintaining a healthy lifestyle are expected to drive market growth. According to data published by William Reed Business Media Ltd. in 2016, approximately 79% of Europeans are willing to pay more for products, such as organic weight loss supplements, owing to greater interest in improving overall wellbeing. In addition, an increase in the working class and the middle-class population is anticipated to boost the product demand in the coming years. It is estimated that in India, the average household income will triple over the next two decades, and the country is expected to have the world’s fifth-largest consumer economy by 2025.
The abovementioned factors are expected to propel market growth. Government and private health organizations are designing and implementing global obesity epidemic awareness programs and events to promote the necessity of maintaining nutritional well-being and normal body weight by inculcating healthier dietary habits and pursuing an active, physical lifestyle. As per RunRepeat statistics in 2020, there are more than 184 million gym members across the globe and the number of gym members has risen by 37.1% from 2008 to 2018. In addition, the boutique fitness industry is expected to add over 2,000 new studios across the globe in the next five years.
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Weight Loss Supplements Market Segmentation
Grand View Research, has segmented the global weight loss supplements market on the basis of type, ingredient, end user, distribution channel, and region:
Weight Loss Supplements Type Outlook (Revenue, USD Million, 2016 - 2028)
- Liquid
- Powder
- Pills
- Softgels
- Others
Weight Loss Supplements Ingredient Outlook (Revenue, USD Million, 2016 - 2028)
- Vitamins Minerals
- Amino Acids
- Natural Extracts/Botanicals
Weight Loss Supplements End-user Outlook (Revenue, USD Million, 2016 - 2028)
- Under 18 Years
- 18 to 40 Years
- 40 to 50 Years
- Above 50 Years
Weight Loss Supplements Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Offline Channel
- Online Channel
Weight Loss Supplements Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Key Companies profiled:
Some of the key players in the global weight loss supplements market are:
- Glanbia PLC
- GlaxoSmithKline PLC
- Herbalife Nutrition Ltd.
- Abbott
- Kellogg Company
- Nestle
- Kraft Heinz Company
- Amway Corp.
- PepsiCo
- Ajinomoto Co. Inc.
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