Global Weight Management Products Market - Growth, Trend, and Forecast (2017 - 2022)
The weight management diet market is expected to reach USD 422.8 billion by 2020, registering a CAGR of 9.1% during the forecast period. Obesity is increasingly becoming one of the world's largest health problems. Obese and overweight consumers are more likely to develop serious health issues later in life, including the increased risk of developing type 2 diabetes. Thus, many consumers are striving to reduce their sugar intake, and manufacturers are reformulating their products to meet the increased demand for low-calorie and reduced sugar foods.
The weight loss and management product segment is a growing market, worldwide, with enormous potential for development and innovation. The key growth driver for the weight management ingredient market is the rise in healthcare costs. People consume weight management products 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. Weight management products, such as food and beverages, are expensive as compared to the regular products and consumers have a cheaper alternative for weight management, which is hampering the growth of the global weight management products market. There are vast opportunities in this field, companies in this market are competing regarding the cost and are offering cost-effective weight management and weight loss products.
The global weight management products market is broadly segmented by type, application, and geography. By type of source used to manage weight, the market is segmented into protein, fat burners, appetite suppressants and others. Weight management is being mentioned as the key factor for the high protein consumption, worldwide. Protein is further segmented into whey protein, soy protein, etc. Other products used to manage weight are low-calorie food & beverages, meal replacements, low-calorie sweeteners, and others. Caffeine helps to suppress one's appetite, green coffee extracts control the glycemic index, and ketones & low-calorie food prevents high-fat accumulation in the body. Herbal low-calorie sweeteners, like stevia, would gain popularity over other popular sweeteners, such as aspartame, owing to the increasing health consciousness among consumers. Geographically, the market is segmented into North America, Europe, Asia-Pacific, South America and Africa. Regional Analysis
North America is the world’s largest weight management market, accounting for approximately one-third of sales, worldwide, which is highly based on meal replacement slimming products and weight loss supplements. North America and Europe are major shareholders of this market, while Asia-Pacific is an emerging weight loss and weight management diet market. Increased consumption of fast foods in countries, such as China, India, and others, has driven the problem of obesity. The region is witnessing a consistent increase in the demand for fat-burning weight loss products. Meal replacements are in high-demand among consumers, as they are a healthier source of nutrition than conventional food.
Several companies operating in the global weight management ingredient market have adopted attractive marketing and positioning strategies to sustain intense competition in the market. Market leaders of the weight management products market are Amway, Cargill, Conagra Foods Inc., Kellogg Company, PEPSICO, and others.
Key Deliverables in the Study
Market analysis for the global weight management products market, with region-specific assessments and competition analysis on a comprehensive and regional scale. Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global weight management products market on both, global and regional scale. A comprehensive list of the main market players along with the analysis of their current strategic interests and vital financial information. Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.