About the Global Weight Loss Supplement Market
The global weight loss management market is growing at a fast rate. The major factors driving the growth include the rising number of obesity cases and growing awareness of lifestyle diseases. Increased government initiatives and a surge in health club memberships are expected to further drive the market. Dietary supplements include dietary ingredients such as minerals, amino acids, vitamins, herbs, and so on. The intake of these supplements adds nutritional value to the body, helping to reduce the risk of diseases. They are available in various forms such as powders, pills, tablets, liquids, and gel caps.
Technavio’s analysts forecast the Global Weight Loss Supplement Market to grow at a CAGR of 5.3% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Weight Loss Supplement Market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of weight loss supplements.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Weight Loss Supplement Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Weight Loss Supplement Market: Amway, Creative Bioscience, Glanbia, GSK, Herbalife, and Lovate Health Sciences.
Other Prominent Vendors in the market are: Atkins Nutritional, Avon, BASF, Bioalpha Holdings Berhad, Camillotek India, Healthviva, NBTY, Nestlé, Nutrisystem, Oriflame Cosmetics, QD Herbs, and White Heron Pharmaceutical.
Commenting on the report, an analyst from Technavio’s team said: “One market trend that will have a positive impact on growth is continuous product improvement. Consumers are increasingly opting for fitness programs and healthy food consumption, including supplements, to remain fit and healthy. Vendors are striving for product development to satisfy consumers. Many supplement categories that were previously specialized are becoming more mainstream. Consumers are increasingly investing in weight management products that include sought-after ingredients such as yacon root, which is found in South America and has been used for generations by the natives. According to clinical studies, yacon root syrup is useful for healthy weight management.”
According to the report, a key growth driver for the weight loss supplement market is the rise in healthcare costs. People take supplements not only as a preventive healthcare measure but also to avoid spending money on expensive treatments and medications if the need arises due to health negligence. For instance, the costs of obesity effects and their treatments range from $147 billion to $210 billion per year. Thus, weight loss supplements are being taken as a preventive measure to avoid obesity and other weight related diseases.
Further, the report states that one challenge that could restrict market growth is the adoption of traditional and natural weight loss methods by consumers.
Amway, Creative Bioscience, Glanbia, GSK, Herbalife, Lovate Health Sciences, Atkins Nutritional, Avon, BASF, Bioalpha Holdings Berhad, Camillotek India, Healthviva, NBTY, Nestlé, Nutrisystem, Oriflame Cosmetics, QD Herbs, White Heron Pharmaceutical.
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