Weight Loss Diet Market Size is estimated to reach $294.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.8% over the forecast period of 2022-2027. An alarming increase has been witnessed globally pertinent to diseases that rise owing to high weight such as diabetes, cardiovascular diseases and cancer in some of the cases. Critically, weight management has been a primary health concern in the western region of the world, focusing on Europe and North America owing to certain dietary preferences and others. The following causes have fostered the adoption of products such as low-calorie sweeteners, green tea, meal replacements and weight loss injections and medicines such as Saxendra Weight Loss Prescription Drug. The number of people focusing on fitness as a concept and practice has grown at a tremendous pace which has directly aided in the adoption of weight loss diets.
Weight Loss Market Drivers
The Escalating Cases of Child Obesity Across the Global Regions has been a Critical Market Driver.
According to US CDC, for children and adolescents aged 2-19, the prevalence of obesity was 19.7% during the time frame of 2017-20, affecting nearly 14.7 million of the adolescent population. Similar statistics are present in various societies and across age groups, which has proliferated the need and demand for weight-loss diets. For example, within Asia-Pacific, India is predicted to have more than 27 million obese children (UNICEF, 2022).
The Persistent Increase in Internet Penetration Resulting in a Heightened Awareness Consumer Stage has Provided the Needed Market Impetus.
A major driver for the success of the weight-loss diet market has been growing online channels across the globe. As per Internet World Stats 2022, around 69% of the global population have access to the internet via various mediums- the following represent close to 5.47 billion people. Quintessentially, internet influences and brand ambassadors continue to highlight the importance of weight management and promote weight loss products, which have been a recognized driver for the market.
Product Launch and Policy Updates
In September 2022, California and New York ruled out a ruling to curb the sale of a plethora of diet pills, such as weight-loss OTC products from sale to minors who are highly attracted to weight-loss gimmicks online. Moreover, in August 2022, Coca-Cola launched Finley, a new low-calorie soft drink that will be only made in Belgium utilizing Stevia as a sweetener.
The Major Players in the Market Include
The Major Players in the Weight Loss Diet Market include Atkin’s Nutritional, Herbalife, Nutrisystem, Ethicon, Covidien, Apollo Endo-Surgery, Brunswick, Amer Sports, Johnson Health Technology and Technogym.
Over the years, manufacturers have incurred various forms of strategies such as product launches, acquisitions, mergers, along with other strategic moves to align with the customer-centric value. Critically, a plethora of changes partaken is to spread and grasp a hold over various value chain actors.
Mr. Venkat Reddy
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Contact Sales: +1-970-236-3677