Latin America Blister Packaging - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Global Slimming Aids - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Global Slimming Aids Market size is estimated at USD 20.38 billion in 2024, and is expected to reach USD 41.48 billion by 2029, growing at a CAGR of 15.27% during the forecast period (2024-2029).

Factors such as the increasing rate of obesity, changing lifestyles, and the launch of new and advanced products by various key market players are propelling the growth of the slimming aids market.

Obesity cases are rising highly all over the world. For instance, according to the report published by the World Health Organization in March 2024, in 2022, 1 in 8 people in the world were living with obesity. In 2022, 2.5 billion adults (18 years and older) were overweight. Of these, 890 million were living with obesity, over 43% of adults aged 18 years and over were overweight, and 16% were living with obesity. Thus, the high burden of the obese population is expected to increase the demand for a variety of slimming aids owing to effective weight reduction, thereby contributing to the growth of the market over the forecast period.

There is a noticeable trend toward the consumption of fast food, a phenomenon intertwined with detrimental health repercussions such as the heightened prevalence of obesity and the onset of chronic diseases. For instance, according to a report published by the Medicine Journal in April 2023, fast food was consumed weekly by 87.8% and daily by 45.6% globally. The highest and lowest prevalence of weekly fast-food intake was reported among Turkish (99.6%) and Sudanese (48.3%). The highest and lowest daily intake rates were reported among participants from the Philippines (85.9%) and Bangladesh (10.0%).

The rising product launches related to weight loss are contributing to the market growth. For instance, in January 2024, Abbott launched its new Protality brand. The high-protein nutrition shake is one of the first products in this line to support the growing number of adults interested in weight loss while maintaining muscle mass and good nutrition. In January 2024, GNC launched a new weight loss supplement, total Lean GlucaTrim, that is formulated to support weight loss, lean muscle mass, and healthy blood sugar and insulin levels.

However, deceptive marketing practices and the presence of counterfeit products are expected to restrain the market growth over the forecast period.

Slimming Aids Market Trends

The Natural Products Segment is Expected to Hold Significant Share in the Slimming Aids Market Over the Forecast Period

Natural or herbal supplements are among those that patients frequently utilize to lose weight. In human trials, these natural compounds have been shown to be efficient and secure in managing body weight. Natural products have the potential to serve as sources of nutraceuticals or medications to control body weight, including catechins, capsaicin, conjugated linoleic acid, fucoxanthin, soy isoflavone, glabridin, astaxanthin, and cyaniding-3-glucoside. The natural product segment is expected to witness significant growth in the slimming aids market over the forecast period owing to factors such as increasing incidence of obesity, higher adoption among consumers, fewer side effects, and long-term effects.

For instance, according to a report published by the Centers for Disease Control and Prevention (CDC) in September 2023, in 2022, the prevalence of adult obesity was 35% in the United States. The adult obesity prevalence rate has risen by 35% in the last ten years. This rising prevalence rate of obesity is expected to increase the demand for slimming aids. Such a high burden of obesity is expected to contribute to the demand for natural slimming aids, thereby fueling the growth of the studied segment over the forecast period.

The rising product launches by various key market players are also contributing to segment growth. For instance, in July 2022, Herbalife launched a new weight management product, Fat Release, based on a fiber derived from prickly pear cactus, Litramine, that helps control fat formation in the body.

Thus, owing to the aforementioned factors, such as increasing obesity and the rising demand for natural products along with increasing product launches, the market is expected to grow over the forecast period.

North America is Expected to Hold a Notable Share in the Marker Over the Forecast Period

North America is expected to hold a significant share in the slimming aids material market over the forecast period. Factors such as the rising prevalence of obesity, the rising demand for effective weight loss, and the growing weight management among the population are expected to boost the growth of the market in this region.

The United States is facing a serious concern related to obesity. For instance, according to a report published by the World Obesity Federation in January 2024, the United States ranks 10th globally for obesity. This alarming rise in obesity cases in the country is expected to drive significant growth in the slimming aids market. According to a report published by the Centers for Disease Control and Prevention (CDC) in September 2023, the states with a higher adult obesity prevalence include Alabama, Arkansas, Delaware, Georgia, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, West Virginia, and Wisconsin. Thus, the high burden of obesity among the population is expected to increase the demand for weight loss products and supplements, thereby boosting the market growth in this region.

The rising product approvals and launches by various key market players in the region are also contributing to the market growth. For instance, in November 2023, the United States Food and Drug Administration approved Lilly's Zepbound (tirzepatide) for chronic weight management, a new option for the treatment of obesity or overweight with weight-related medical problems. Such product launches are expected to drive market growth. In late 2024, Novo Nordisk planned to make commercial availability of Wegovy, a weight-loss drug in Canada. In August 2022, Currax launched One Size Does Not Fit All, a branded project to bolster the benefits of meds for obesity and promote a personalized approach to weight loss.

Thus, owing to the aforementioned factors, such as the increasing burden of obesity, high demand for effective weight loss, and the rising product launches by key market players, the market is expected to grow over the forecast period.

Slimming Aids Industry Overview

The slimming aids market is moderately fragmented in nature. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some of the players in the market are Amway Corp., Glanbia PLC, Herbalife Nutrition Ltd, Nestle SA, and Novo Nordisk.

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