Global Weight Management Supplements Market - 2022-2029

Global Weight Management Supplements Market - 2022-2029

Market Overview

Weight Management Supplements Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 12.4% during the forecast period (2022-2029).

Any vitamin, mineral, herbal product, or other formulation intended to add to or supplement the diet and is different from conventional food ingested to gain or lose weight is known as a weight management supplement.

Market Dynamics

Growth in obesity cases and increasing awareness of lifestyle diseases drive the demand for weight management supplements. They help maintain fitness without needing a dietary meal or exercise, improve their immune system and build muscle mass.

The growing obesity cases and increasing awareness of lifestyle diseases drive global market growth.

The growing cases of obesity and overweight globally and the increasing awareness about lifestyle diseases are boosting the global weight management supplement market growth. For instance, on world obesity day, WHO presented data that indicated over 1 billion people worldwide are obese, of which around 650 million are adults, nearly 340 million are adolescents, and approximately 39 million are children. The cases of obesity are still increasing. The WHO predicts that over 167 million adults and children will become unhealthy due to obesity or overweight by 2025. Furthermore, with obesity, there is a high risk for non-communicable diseases and metabolic diseases such as cardiovascular diseases, fatty liver diseases, diabetes, Etc. Thus, the increasing incidences of non-communicable diseases caused deaths is increasing awareness in the population about the impacts of obesity on health which in turn is fueling the overall growth of the global weight management supplement.

The lack of assurance about the effectiveness of the supplements and the side effects of a few ingredients is hampering the global weight management supplement market growth.

However, the lack of assurance about the effectiveness of the supplements and the side effects of a few ingredients is hampering the global weight management supplement market growth. For instance, the declaration from the U.S. Government Accountability Office concluded that remarkably little is apprehended about whether weight loss supplements are influential, while some supplements have been associated with the potential for physical harm; for example, Calcium is one of the common ingredients from weight management supplement which has not shown any evident effect on weight loss in several large clinical trials. Still, there have been reports of severe adverse effects in these trials.

COVID-19 Impact.

The COVID-19 outburst has positively impacted the global weight management supplement market, as studies indicated that obesity is a novel threat to hospitalization and death due to COVID-19. For instance, WHO released a 2022 report on the state of the obesity pandemic in Europe, showing that 60% of the population in Europe is either overweight or obese and insinuating the effects of the obesity pandemic, particularly as it interacts with the COVID pandemic to creating a twin pandemic boosting the morbidity and mortality, which has increased the world population focus towards weight management, and since maintaining proper diet and exercise in today's busy life is difficult people are opting for weight management supplements.

Segment Analysis

Female are expected to have a greater grasp of the weight management supplements market during the forecast period (2022-2029).

Female end users are expected to hold most of the market share throughout the forecast period (2022-2029) as gender is an important risk factor for the development of obesity. The female gender is at twice the danger of being obese; thereby are at higher risk of acquiring multiple chronic obesity-related physical and psychological conditions and have a double mortality risk compared to obese men. Some risk factors have been represented to describe the gender relation with an obese phenotype. These disparities have far-reaching implications on an individual's medical, psychosocial, and economic impact.

For instance, the World Obesity Atlas 2022, issued by the World Obesity Federation, anticipates that one billion people globally, including 1 out of 5 women and 1 out of 7 men, will be obese by 2030, indicating that the overweight female population is increasing rapidly, thus, dominating the weight management supplement market.

Geographical Analysis

North America is expected to dominate the global weight management supplements market.

North America commands the global weight management supplement market. It is anticipated to dominate during the forecast period (2022-2029) as most of the key market players holding a large share of the weight management supplement market through various market strategies are U.S. based. For instance, Herbalife Nutrition, Abbott Nutrition, Atkins Nutritional, Nutrisystem and Amway. Furthermore, the growing obese population in this region ensures its dominance over the weight management market. For instance, as per the Global Obesity Observatory, 36.47% of adult males and 38.16% of adult females are overweight. The increasing obesity in the American population is due to fast-food consumption, which makes up about 11% of the average American diet. Obesity is estimated to increase healthcare spending by $149 billion annually, about half of which is paid for by Medicare and Medicaid. Therefore, with the above-mentioned data, it is estimated that North America will dominate the global weight management supplement market during the forecast period.

Competitive Landscape

The key players operating in the global weight management supplements market are Abbott Nutrition, Glanbia Nutritionals PLC, Herbalife, Lovato Health Sciences, Oriflame, Atkins Nutritional, Nestle SA, Nutrisystem, Bioalpha Holdings Berhad, Amway, and White Heron Pharmaceutical. The key players are embracing various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the weight management supplements market globally. For instance, in July 2022, Herbalife Nutrition launched Fat Release to support its consumers' healthy and active lifestyles. This product enables trimming the fat from food to uphold consumers on track with their health objectives.

Abbott Laboratories.

Overview:

Abbott Laboratories is an American global medical device and healthcare company founded in 1888 with headquarters in Abbott Park, Illinois, United States. Abbott Laboratories manufacture and trades medical devices, diagnostics, branded generic medicines and nutritional products. Abbott Laboratories has nutrition product brands such as ZonePerfect, PediaSure, Similac, Pedialyte, Juven, Nepro, Etc.

Product Portfolio:

The product portfolio of Abbott Laboratories for weight management supplements has ENSURE: The Ensure brand products nourish active adults with a source of nutrition that can aid them in focusing on explicit nutritional goals.

The global weight management supplements report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.