Wilmington, Delaware, USA, August 10, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc.- Weight management refers to the technique or processes adopted by an individual alone or in a support group that will help them achieve a certain weight that is considered healthy. Weight management technique includes both weight loss and weight gain and differs from person to person depending on their lifestyle and body mass index. During the COVID 19 pandemic, weight management has gained popularity to reduce the spread of infection in high-risk patients.
Rising prevalence of obesity among people is a key growth driver increasing the sales forecast of the global weight management market. This is due to adopting a sedentary lifestyle, irregular eating and sleeping habits, and consuming a high caloric intake without nutrients and with more fat or carbohydrates for prolonged periods.
According to a weight management industry research report by TMR, the market is expected to grow at a CAGR of 4% and reach a value of USD 11.1 billion by the end of 2031. In 2020, this market earned USD 7.2 billion and is expected to increase significantly over the forecast period fixed between 2021 and 2031.
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Rising obese population rate will drive the market Growth
The rising rate of obese population will serve as a key growth engine increasing demand weight management. According to the World Obesity Atlas 2022 record, approximately 1 billion people, including 1 in 7 men and 1 in 5 women, will be living with obesity by the end of 2030. Additionally, efforts Growing governments to create awareness and brand initiatives for weight management will further help this market to witness new growth opportunities in the coming years.
The growing popularity of fitness centers will promote growth
The growing inclination towards health and fitness has been one of the positive outcomes of the bariatric population. The emergence of health clubs, hot yoga, zumba classes and other forms of fitness centers coupled with the growing trend of maintaining a strict diet suggested by professional nutritionists are the emerging trends in the market world of weight management. Rising prevalence of various long-term diseases such as obesity, diabetes, and others will help increase the adoption of weight management programs, thereby contributing to the growth of this market over the forecast period.
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On line Segment Earn the largest share due to Growing internet penetration
On the basis of sales channel, the global weight management market is categorized into hypermarkets/supermarkets, pharmacies and pharmacies, health and beauty stores, online retail and other retail channels. Among these, the online retail segment has emerged as the biggest revenue generator for the weight management market. This is due to the growing penetration of the internet which informs and educates consumers on various aspects of health and fitness and the easy availability of weight management apps on a number of online platforms.
North America won the biggest shares thanks to High prevalence of obese people
Regionally, North America has secured the largest weight management market shares owing to the high prevalence of obese population in the United States and Canada. The United States has the largest share of the obese population as well as the highest rate of diabetic population. The growing awareness of health and fitness among consumers in this region and the high number of gym memberships and fitness club registrations will further help this region to continue to dominate the market during the forecast duration.
Players focus on brand expansion to gain significant momentum
The nature of competition in the global weight management market is fragmented owing to the presence of several players. Apart from the usual mergers and acquisitions and joint ventures, the players are focusing on expanding their brand in the untouched regions to establish a notable position in the market competition.
Some of the major players in the global weight management market include Nature’s Way Products LLC., Arbonne International LLC, Nature’s Sunshine Products Llc., NOW Health Group Inc., Vitaco Health Limited, Forever Living, HerbaLife Nutrition Ltd., Nu Skin Enterprises Inc., Amway Melaleuca Inc., GNC Holdings Inc. and others.
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The Global weight management market is segmented as follows:
- Soft gels/pills
Per end user
By sales channel
- Health and beauty stores
- Drugs and pharmacies
- Online retail
- Other Retail Channels
- North America
- Latin America
- Asia Pacific excluding Japan (APEJ)
- Middle East and Africa (MEA)
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