Weight Loss and Weight Management Diet Market size is estimated to reach $324Bn by 2025, growing at a CAGR of 10.3% during the forecast period 2020-2025. Weight Loss and Weight Management Diet is the process of adopting long-term lifestyle modification for maintaining a healthy body weight. Increase in the obese population, increase in the investment by the major companies in the developed nations is driving the market. Besides, advancements in technology increase in the adoption of online weight loss and weight management programs and increase in the disposable income of individuals are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
Weight Loss and Weight Management Diet Market Segment Analysis - By Product Type
Based on the Product Type, the Better-for-you segment held the largest share in 2019. This segment is growing owing to the factors such as rapid increase in the investment by the major companies, increase in the demand for premium quality food and beverage products, increase in the demand for healthier products, rise in the disposable income of individuals and increase in the product launches based on the needs of the customers.
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Weight Loss and Weight Management Diet Market Segment Analysis - By Distribution Channel
Based on the Distribution Channel, Supermarkets segment held the largest share in 2019 owing to the factors such as increase in the investment by the major companies, increase in the number of diseases and increase in the disposable income of individuals. Online Retailing segment is estimated to be the fastest growing segment with a CAGR of 11.6% during the forecast period 2020-2025. This is owing to the factors such as advancements in technology, increase in the standard of living, increase in the product launches and innovations and increase in the adoption of online weight loss and weight management programs.
Weight Loss and Weight Management Diet Market Segment Analysis - By Geography
Based on the Geography, North America held the largest share of 36.7% in 2019. The growth in this segment is owing to the factors such as increase in the investment by the major companies in the developed nations, increase in the obese population, and increase in the demand for meal replacements. Asia-Pacific is estimated to be the fastest growing segment owing to the factors such as increase in the disposable income of individuals, increase in the number of chronic diseases, increase in the demand for low-calorie foods and increase in the product launches.
Weight Loss and Weight Management Diet Market Drivers
Increase in the health consciousness among individuals and increase in the adoption of online weight loss and weight management programs
The increase in the health consciousness among individuals owing to increase in the number of chronic diseases is estimated to enhance the growth of Weight Loss and Weight Management Diet Market. Advancements in technology and increase in the adoption of online weight loss and weight management programs are also the factors, which enhance the growth of Weight Loss and Weight Management Diet Market.
Increase in the investment by the major companies and increase in the disposable income of individuals
There is a rapid increase in the investment by the major companies owing to the growing demand. This led to rapid increase in the growth of Weight Loss And Weight Management Diet Market. Increase in the disposable income of individuals is also estimated to enhance the growth of the Weight Loss and Weight Management Diet Market.
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Weight Loss and Weight Management Diet Market Challenges
Stringent regulations by the governments regarding safety ingredients
Stringent regulations by the governments regarding safety ingredients is one of the major factors that is estimated to reduce the growth of the Weight Loss and Weight Management Diet Market. All the major companies have to adhere to the rules for marketing and promotion of dietary supplements, which is also said to reduce the growth of the Weight Loss and Weight Management Diet Market.
Weight Loss and Weight Management Diet Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Weight Loss and Weight Management Diet Market. Key companies of this market are Cargill, General Mills Inc., Herbalife Ltd, Kellogg Company, Kraft Foods Inc., Medifast Inc., Nutrisystem Inc., Weight Watchers Inc., Ingredion Incorporated, Abbott Laboratories Inc., among others
Acquisitions/Product Launches:
In 2019, Herbalife Ltd has launched Formula 1 select meal replacement shake and protein drink mix select, which are the perfect nutritional solution for those who seek alternative sources of protein for weight management.
In 2019, Nutrisystem Inc., has launched new personal weight loss plans to provide custom macronutrients for optimal weight loss, food recommendations based on individual favorites so that the customers reach their weight loss goals.
Key Takeaways
Geographically, North America Weight Loss and Weight Management Diet Market accounted for the highest revenue share in 2019.
The increase in the technology and increase in the investment by the major companies is likely to aid in the market growth of Weight Loss and Weight Management Diet Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Weight Loss and Weight Management Diet Market report.
The increase in the product launches and increase in the number of bariatric surgeries are creating higher opportunities for the growth of market for the forecast period 2020-2025.
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