Market Scope
Market Research Future (MRFR) believes that the Weight Loss Supplements market will cover considerable grounds and capture a substantial growth rate between 2020 and 2027 (assessment period).
Growth Drivers and Impediments
The World Health Organization confirms that obesity cases have close to tripled since 1980. In the year 2016, over 1.9 billion adults were overweight, out of which, more than 650 million adults were obese. This alarming rise in obesity has led to higher cases of type 2 diabetes, hypertension, stroke, heart disease, mental illness, and osteoarthritis. Given the strong association of obesity with such a variety of health issues, consumers are progressively opting for Weight Loss Supplements. Trends including getting fit, remaining in shape, eating healthy, and being active have gained significant traction, aided by commercial programs, like Nutrisystem, Jenny Craig, and Weight Watchers, and are bound to favor the global market in subsequent years.
The younger generation is gradually shifting towards portable, inexpensive, and safe to consume meal replacements like nutrition bars and shakes, which should benefit the global industry to a large extent. Meanwhile, the strong economic growth and rising disposable income could ensure impressive market growth in the following years.
Millennials are increasingly going for Natural Weight Loss Supplements, prompting manufacturers to introduce sugar-free and calorie-free ranges. This will be a favorable scenario for manufacturers who are striving to reformulate their products to elevate their appeal among consumers.
Segmental Review
To present an extensive framework of the Weight Loss Supplements industry, the MRFR report has outlined product type, surgery, and application as the key segments.
Product types discussed in the report include Energy drinks, meal replacement smoothies/shakes, green tea, Fat loss & fat gain Supplements, and more. The market for meal replacement smoothies/shakes is doing particularly well, especially in emerging regions. Meal replacement smoothies/shakes have extended shelf-life and are easy to store. Gyms and other health centers encourage their clients to go for meal replacement smoothies and shakes to inculcate healthy practices.
Surgery-wise, the global market caters to bariatric surgery and liposuction. Liposuction is a popular surgery backed by the rising number of promotions on social media, lower risks to health, and successful results at affordable costs. Besides, emerging trends of minimally invasive procedures also augment the segment’s growth in the market.
Weight Loss Supplements have applications in oilseeds, fruits & vegetables, grains, and more. The grains segment has taken the lead, as these facilitate quick weight loss and are, therefore, preferred by consumers seeking faster results.
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Regional Insight
The primary markets for Weight Loss Supplements are North America, Europe, Asia Pacific (APAC), as well of the Rest-of-the-World (RoW).
Europe and North America form the biggest markets for the Weight Loss Supplements market generating maximum revenues. Slimming products, as well as weight loss or dieting supplements, are popular in these regions, with millennials representing the leading consumer base. Increased focus on having a fit body and the mounting number of dieters in the region are encouraging local players to bank on social media sites to create brand awareness. Consumers in these regions are increasingly opting for clean and natural Weight Loss Supplements with no GMOs, preservatives, or artificial sweeteners, thereby pressuring manufacturers to come up with reformulated products to cater to the evolving preferences.
The Asia Pacific will continue to make the fastest progress in the years ahead, thanks to the peaked interest of consumers in maintaining a healthy lifestyle. The growing prevalence of the western lifestyle along with the surge in disposable income has been favorable. Meanwhile, players are presented with lucrative opportunities in this region and therefore, introducing low-calorie premium products while also focusing on bolstering their regional presence. Consumers in APAC are progressively opting for teas and coffees that accelerate weight loss. Additionally, the government is proactively striving to spread awareness about obesity, which should also enhance the sales of Weight Loss Supplements in the region in the years to come.
Top Key Players of Market Following Way
The renowned companies active in the global market for Weight Loss Supplements are BASF, Dow Agrosciences, Syngenta, Bayer AG, Agrium, Monsanto, ICL, and Sumitomo Chemical.
Most of these companies are positioned strongly in the global market, since commercially available products are less, and brand name is the only factor inducing sales. Besides, these players make strategic movies like manufacturing capacity expansion, new product launches, and acquisitions to improve their rankings in the global industry.
Latest Updates
January 2021
Nora, a well-known seller of science-based wellness and health products, has introduced its latest weight management range named NeoraFit. NeoraFit is a combination of advanced weight-loss supplements that can be smoothly incorporated into a daily routine along with practices that facilitate a healthy life. NeoraFit weight control formulations support the body’s fat-burning process, which helps the consumer reach their goals safely.
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