Global Fat Burn Supplements Market - Growth, Trends and Forecasts (2018 - 2023)
The global fat burn supplement market is expected to register a CAGR of about 7.0% during 2018-2023 (the forecast period). The market is highly competitive, especially in the developed economies, like Europe and North America. Also, the market is expected to witness a strong growth in the developing economies of Asia-Pacific.
Health benefits associated to Fat Burners
Fat burn supplements are one of the popular categories of nutrition supplements, owing to their benefits in health, performance, weight-loss management, or the combination of these factors. Basically, these supplements increase the fat metabolism or energy expenditure, and fat oxidation during exercises/workouts. The products are made out of several ingredients or a combination of them. They give a sense of addiction to the consumers on consumption.
The major drivers of the fat burn supplement market include the rising awareness among people, regarding health concerns, and the growing preference for supplements, which are convenient to maintain fitness without any need for dietary meals or exercises. Companies are advertising fat burners with several claims, such as shedding of extra pounds, and other tag-lines that catches consumer attention and, in turn, driving the overall market for fat burn supplements.
The major challenge faced by the fat burn supplements market is the consumers perception regarding the side effects, associated with the ingredients that are undisclosed on labels.
Fat Burners in the Form of Capsules to Record a Higher Growth Rate
By type, the fat burn supplement market can be segmented into liquid, powders, capsules, and ‘others’. The capsules segment of the market is expected to record a CAGR of about 6.1%, during 2018-2023 (the forecast period). The delivery systems are designed to allow each supplements’ active ingredient to be presented to the body in consumable form so that they release and get easily absorbed in the body. These types deliver the same nutrients, but differ in the function or the path they take to deliver the nutrient in the body. By end-user, the market can be segmented into men and women.
Mexico to Dominate the North American Market
The North American fat burn supplement market, with a share of about 35%, is expected to register a CAGR of 5.23% during 2018-2023 (the forecast period). Mexico holds the largest market share of about 38% in North America. Asia-Pacific is anticipated to witness a strong growth rate in the upcoming years, due to growing demand for weight management products and improving economic stability, coupled with the rising disposable income. The other regions, such as Africa and South America, offer great potentials for manufacturers to expand their business in the fat burn supplement market, owing to growing demands for dietary supplement products.Major PLAYERS:NUTREX, MUSCLETECH, PURITAN'S PRIDE, ROYALE, OMNIACTIVE HEALTH TECHNOLOGIES, NUTRAKEY, AMWAY, HI-TECH PHARMACEUTICALS, APS NUTRITION and S.A.N., amongst others.