Weight Management Market - Forecasts from 2024 to 2029

The weight management market is expected to grow at a CAGR of 6.77% over the forecast period to reach a market size of US$386.542 billion in 2029, up from US$244.379 billion in 2022.

This market comprises various segments like special diets, equipment, and services that, separately or combined, help in the weight management of people. Over the years, the changing living patterns and habits have driven us toward the need to adopt a healthy lifestyle. People are becoming more conscious about their health and well-being, which is expected to drive the demand for the weight management market.

Besides that, growing concerns about the high rate of obesity and cardiovascular diseases have propelled people to opt for healthy practices, which holds a great opportunity for the weight management market. Some of the market restraints include the high cost of equipment and special diets offered under weight management programs. Regulations related to dietary supplements and other weight management diet products due to the possibilities of health effects can also affect the market growth in the long run.

Market Drivers:

• The rise of health concerns like obesity is anticipated to propel the weight management market growth.

Urbanization and development have severely affected the dietary and living patterns of the people. With the high consumption of junk food, low physical workout, increasing consumption of tobacco, smoking, etc., problems like obesity and CVD have increased significantly over the years. Obesity is a disease that arises from the excessive accumulation of fat inside the body.

This problem arises when the calorie intake by the body severely exceeds the calories burned by it. According to WHO, obesity has nearly tripled since 1975, and around 39 million children under the age of 5 were obese or overweight in 2020. These concerns are alarming and thereby call for weight management adoption.

If not controlled, Obesity can give rise to several diseases like cardiovascular diseases, high blood pressure, dyslipidemia, diabetes, hypertension, sleep disorders, and certain cancers as well. This is a major concern because cardiovascular disease is the leading cause of death around the globe. According to WHO, CVDs take around an estimated 17.9 million lives each year, which nearly makes up 32% of the deaths worldwide.

• Growing awareness is expected to boost the weight management market.

With the growing literacy rate and increasing awareness programs by governments, NGOs, and other public institutions, the weight management market is expected to drive in the coming years. Growing pollution, health effects from active and passive smoking, lack of physical workout, hectic urban life, etc., have laid the people's focus on physical maintenance and healthy aging.

With the growing disposable income, people have started adopting weight management diets and workouts and have become more aware of self-care, and these factors combined are expected to give a boost to the weight management market.

The role of AI is anticipated in the surge of the weight management market growth.

Artificial Intelligence (AI) has become a part of almost every sector and industry around the globe, and its inclusion in weight management is something noteworthy. Weight management-specific companies today are focusing on the power of AI to deliver easy-to-adapt weight-management mechanisms.

These AI-powered programs tend to become popular among the people with the growing advancement. For instance, recently, CSIRO Total Wellbeing Diet launched Hope, an AI weight loss coach that uses psychological techniques to motivate people during workouts and diets. Therefore, including AI in this market holds an excellent perspective for the weight management market development.

Market Restraint:

• High prices of special diets could hinder the weight management market growth.

It has been observed that special diets like low-carb diets, ketogenic diets, low-fat diets, etc., mapped by the companies are generally very expensive. These diets include particular vitamin and protein products that are generally expensive and difficult to purchase by lower and middle-income people. To compensate for the loss, these people opt for free and low-cost weight management techniques like walks, jogging, exercise, Ayurveda, yoga, etc. This is expected to create some market restraints in the coming years.

• Increasing regulation over the market could hamper the market growth.

Currently, the weight management market stands a chance to apply stringent regulations to keep a regular check on the market. This is because, in the past, several fraud diets, supplements, and food meals that claimed to reduce the weight of people showed many side effects as well, like nausea, headache, allergies, etc. This has called for the need to strictly regulate the market, which can hamper the market growth as well.

Key Developments:

• September 2023- Herbalife was named the official nutrition partner for the Ketchum-Downtown YMCA Stair Climb in Los Angeles for the tenth year in a row. The event, which takes place on the 30th anniversary of the YMCA (Young Men's Christian Association) Stair Climb & Urban Hike, supports over 3,000 participants who complete the 75-flight ascent to the top of the U.S. Bank Tower. Herbalife provides products from its Herbalife24 sports line to ensure proper hydration and nutrients. The event raises funds for YMCA community programs, including those fighting obesity.
• May 2023- Nutrisystem(R), a division of Wellful, Inc., is a leading provider of health and wellness and weight loss solutions. The company helped millions of people lose weight through clinically proven weight loss science. Nutrisystem's eCommerce model, which has been successful for over 20 years, offers affordable, convenient, and flexible weight loss plans and support to millions of Americans. The company was one of the first weight loss companies to shift from brick-and-mortar to an eCommerce company, understanding that customers wanted support in the privacy of their own homes with nutritious meals delivered to their door. This model continues to bring great value to customers today.
• February 2023- Kainos Capital LP, a private equity firm focusing on food and consumer products and services, closed its largest investment vehicle, Kainos Capital Partners III LP, with over $1 billion in capital commitments. The fund aims to build strategically relevant food and consumer companies by implementing Change Capital initiatives and leveraging industry experience and relationships. The firm has a long history of investing in the food and consumer industry, with many partners having been industry leaders or senior leaders before joining.

Segmentation:

By Diet

• Food and Meals
• Beverages
• Supplements

By Equipment

• Fitness Equipment
• Surgical Equipment
• Others

By Service

• Fitness Centers
• Consulting Services
• Online Weight Programs

By Delivery Channel

• Online
• Offline

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• U.K.
• Germany
• France
• Others
• Middle East and Africa
• UAE
• South Africa
• Israel
• Saudi Arabia
• Others
• Asia-Pacific
• China
• Japan
• India
• Australia
• Taiwan
• South Korea
• Others