Global Diet Pills Market - 2023-2030

Global Diet Pills Market - 2023-2030

Global Diet Pills Market reached US$ 3.34 billion in 2022 and is expected to reach US$ 5.65 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.

Diet pills are gaining immense popularity in the market due to increasing obesity cases. Overweight and obesity have become a major problem in adults and children. According to World Health Statistics 2023, it is identified that there were around 37.0 million children under five years of age suffering from obesity in 2022. Childhood obesity can lead to premature death and disability as children grow into adults.

Increased health consciousness among people is increasing the approaches for weight loss. According to Weight-Loss Statistics 2023, about 40% of people are avoiding diet to lose weight, and nearly 30% of people are willing to prevent their weight gain. The convenience and effectiveness of diet pills in weight management are driving thier popularity globally.

Increased approvals of weight loss drugs by the FDA and other organizations positively drive market growth. For instance, in 2021, Semaglutide, from the Weglovy brand, was approved by the FDA to treat overweight and obesity in adults. The high promotional activities and new product developments in North America increase its share to 1/3rd of global market.

Dynamics

Growing Prevalence of Obesity

People with sedentary lifestyles are forced to eat processed products high in sugars and fats. With hectic schedules, people are choosing ready-to-eat food products. The increased consumption of food with higher calories and reduced physical activity leads to a high prevalence of lifestyle diseases such as obesity. In addition, the working population are experiencing various condition, such as stress and poor sleep, which are some of the causes of obesity.

The World Obesity Federation 2023 predicts that obesity cases are rapidly increasing, and more than half of the worldwide population might deal with obesity and overweight in the coming 12 years. The rising health consciousness among people is driving the market for products that can reduce their weight and provide a healthy body. The help of diet pills in reducing weight can be a greater driving force for the market.

Increased Use of Dietary Supplements for Weight Loss

According to NIH, approximately 15% of U.S. adults are registered to use weight-loss dietary supplements. Among these, women are reported to use 21 % of pills, while men are subjected to the 10% use. The availability of dietary supplements in various forms, such as tablets, capsules, and powder forms, drives its expansion opportunities.

The functionality of dietary supplements in suppressing the appetite and increasing metabolism positively affects weight management by burning fat. The increased number of new products launched into the market is gaining consumer’s attention. For instance, in July 2023, Hydroxycut, a weight-loss supplements brand, introduced its new product line, Hardcore. This line range products comprises capsules, gummies and drink sticks.

Concerns About Side Effects

The diet pills may help weight loss but can cause several side effects. Gastrointestinal problems are diet pills' most common side effects, including diarrhoea, gas and stomach ache. It is also observed that weight loss pills can lead to severe health issues in the liver and kidneys. Such pills may increase thyroidal cancer risk and may lower blood sugar levels. Life-threatening side effects of such diet pills are making people worried about using them, hindering the market size expansion.

The diet pills need to go through several trials before finalizing the product, which may need more investments in them. In addition, the strict regulations about diet pill approvals from organizations and governments can hamper the market business. Considering the safety concerns, U.S. FDA restricted or banned several weight loss pills. For instance, in August 2023, the FDA released a public notification claiming not to purchase Alfia weight loss pills due to its sibutramine substance, that is removed from the market in 2010.

Segment Analysis

The global diet pills market is segmented based on source, type, form, age group, function, usage, distribution channel, application, end-user and region.

Increased Health Awareness

The global diet pills market is segmented based on weight loss and body-shaping usage. This market's weight loss pills segment is gaining immense popularity among teenagers and adults, leading to a larger share of this segment. The rising health concerns of being overweight such as high blood pressure, type 2 diabetes and heart problems, encourage people to take action to lose weight, driving the segment growth.

According to Weight-Loss Statistics 2023, about 40% of people are avoiding diet to lose weight, and just under 30% of people are willing to prevent their weight gain. The rising number of people willing to lose weight and use diet pills to reduce their weight positively impacts the segment's growth. In addition, the new product launches from the key market players in the weight loss category increase the segment demand.

Geographical Penetration

Increased Obesity Cases

North America held the largest share of the global diet pills market. The increased self-awareness about weight management is the key factor driving the market in this region. The increased employment-population ratio of this region has a greater influence on their food patterns. The hectic lifestyles of people increased their consumption of processed food products.

The unhealthy lifestyle of people of this region has led to increased obesity. According to the Centers for Disease Control and Prevention 2023, United States has around 41.9% of adults and 19.7 % of children suffering from obesity. The increased prevalence of obesity and the increase in people's awareness about weight loss drive this region's diet pills market growth.

According to UNC Gillings School of Global Public Health 2021, about 34% of Americans willing to lose weight have used weight loss supplements. The stronger influence of social media on people’s lifestyles and more importance for body shape maintenance may positively affect the diet pills market as people are willing to adopt diet pills to lose weight.

Competitive Landscape

The major global players in the market include Nirvasa, Applied Nutrition, Lovate Health Sciences Inc, Chong's Health Care, Healthviv, MuscleTech, Nov- Nordisk A/S, Vivus LLC, Now Foods and Herbalife.

COVID-19 Impact Analysis

The outbreak of COVID-19 had a mixed impact on the global diet pills market. The strict government regulations restricted people to their houses. The increased time for cooking in the pandemic period increased people's food intake. There is increased consumption of processed food products due to their convenience. The high calories and fats of such food products increase the prevalence of obesity.

According to NIH, there is an increased prevalence of obesity among 2 to 20-year age groups during lockdowns. People were not allowed outside their houses, decreasing their physical activity. The shutdown of gyms and exercise centers made it difficult for people to lose weight, giving rise to diet pills. The high food consumption and decreased physical activity, increased the demand for diet pills as people started their weight management.

Further, the pandemic gave rise to e-commerce sector activities. Most people started using online platforms for their necessary purchases. The accessibility and popularity of the e-commerce sector and the wide availability of diet pill products in online platforms increased the market demand. The halted supply chain activities and distribution channel processes created a little disturbance in the diet pills market.

Russia- Ukraine War Impact

The Russia-Ukraine war had a negative impact on many industrial sectors, including food support and services sector. The labor shortage and a lack of resources for the production and distribution of diet pills badly impacted the market. The supply chain and distribution channels were negatively affected, decreasing market growth.

War decreased people's affordability to high-priced products like diet pills. The war created import and export trade disruptions, resulting in product haltation in reach to target customers. The high taxes and increased prices of commodities created economic disturbances. The trade The political and economic uncertainty created due to the war had a negative impact on the diet pills market.

By Source
• Leaves
• Barks
• Fruits and Vegetables
• Roots

By Type
• Prescription
• Over the Counter Drugs
• Herbal Supplements
• Others

By Form
• Tablets
• Capsules
• Powder
• Liquid
• Softgels

By Age Group
• Children
• Adolescents
• Adults
• Over Adults

By Function
• Medicinal
• Aroma
• Others

By Usage
• Weight Loss
• Body Shaping

By Distribution Channels
• Hospital Pharmacies
• Drug Stores & Retail Pharmacies
• Online Pharmacies

By Application
• Appetite Suppression
• Metabolism Raising Pills
• Fat Blocking
• Others

By End-User
• Hospitals
• Weight Loss Centers
• Home Use

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In July 2023, a Denmark-based global healthcare company, Novo Nordisk, introduced its weight loss drug Wegovy in Germany.
• In May 2023, Noom, a U.S.-based weight loss startup, unveiled a program prescribing new weight-reducing drugs like Wegovy.
• In November 2022, a U.S.-based Audax Private Equity, announced the acquisition, of Medi-Weightloss, Inc., a weight-loss and diet pills offering company. This acquisition helps the Medi-Weightloss company to expand its business range.

Why Purchase the Report?
• To visualize the global diet pills market segmentation based on source, type, form, age group, function, usage, distribution channel, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of diet pills market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global diet pills market report would provide approximately 109 tables, 121 figures and 240 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies