GCC Weight Loss Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The GCC weight loss market reached a value of US$ 2.7 Billion in 2017. Currently, overweight and obesity is one of the major health concerns being faced by the GCC region. The region has been experiencing rising levels of economic growth and sedentary lifestyles. Moreover, increasing levels of urbanisation and westernization has led to the proliferation of a number of fast food chains, online food delivery options, convenience outlets, etc. making packaged foods, snacks and high sugar products readily available. This has resulted in obesity and overweight rates soaring in the region and leading to a population burdened with diabetes, cardiovascular and other lifestyle ailments.
Apart from the unhealthy diets, limited physical activity represents another major reason for the rising levels of obesity in the region. As a result of high average temperatures for most of the year, people living in the GCC region avoid outdoor physical activities such as sports, cycling, walking and running, etc. At the same time, long and hectic work routines push people to skip healthy meals and go for fast food and packaged meal options increasing their chances of becoming overweight.
While rising levels of obesity and overweight might sound alarm bells for the government and general population. It provides lucrative opportunities for companies providing weight loss solutions. Over the past few years, there has also been a surge in the number gyms and weight loss centres in the region. The market for meals and weight loss supplements is also witnessing a healthy growth. The number of weight loss surgeries in the region have also been experiencing double digit growth rates. Looking forward, the GCC weight loss market is expected to reach US$ 4.6 Billion by 2023, exhibiting a CAGR of 9.2% during 2018-2023.
Based on the diet, the market has been segmented as supplements, meals, and beverages. Currently, supplements dominate the market, holding the largest share.
Based on the equipment type, fitness equipment represented the most popular equipment followed by surgical equipments.
Based on services, fitness centers and health clubs represented the most popular weightloss service followed by consulting service and slimming centers, surgical clinics and online weight loss programs.
Based on gender, men dominated the overall market.
Based on the age group, consumers between 31 to 60 years of age dominated the overall market followed by consumers between 15 to 30 years of age, consumers of age more than 60 years and consumers of age below 15 years.
Region-wise, the market has been segmented into Saudi Arabia, UAE, Kuwait, Qatar, Baharain and Oman. Amongst these, Saudi Arabia is the leading market, accounting for the majority of the share.
Some of the key players in the market have also been examined.
This report provides a deep insight into the gcc weight loss market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the weight loss market in any manner.
Key Questions Answered in this Report:
How has the GCC weight loss market performed so far and how will it perform in the coming years?
What are the key regions in the GCC weight loss market?
Which are the popular diet types in the GCC weight loss market?
Which are the popular equipments in the GCC weight loss market?
Which are the major services in the GCC weight loss market?
What are the various stages in the value chain of the GCC weight loss market?
What are the key driving factors and challenges in the GCC weight loss market?
What is the structure of the GCC weight loss market and who are the key players?
What is the degree of competition in the GCC weight loss market?