The Global Weight Management Industry is on the brink of a transformative growth phase, poised to achieve unprecedented success with a projected Compound Annual Growth Rate (CAGR) of 7.7%. According to the latest market insights spanning from 2022 to 2032, industry experts anticipate a remarkable valuation of US$ 725.6 Billion. This substantial expansion is fueled by the widespread adoption of sedentary lifestyles, amplifying the demand for effective weight management solutions globally.
The period from 2021 to 2022 witnessed an impressive Year-on-Year (Y-o-Y) growth rate of 8.3%, culminating in a market valuation of US$ 345.5 Billion. This robust growth follows the industry’s standing at US$ 319 Billion in 2021, underscoring the sector’s resilience and continuous evolution.
Noteworthy developments in 2019 provide a glimpse into the industry’s potential for significant expansion. Franchise owners in Metro Detroit unveiled a new Crunch Fitness gym in Waterford Township, marking the fifth fitness center established by the company, in addition to its branches in Farmington Hills, Westland, Dearborn, and Taylor. These strategic initiatives highlight the region’s readiness for substantial market growth in the years to come.
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In the preceding year, from 2021 to 2022, the market demonstrated robust year-on-year (Y-o-Y) growth at an impressive rate of 8.3%, culminating in a total valuation of US$ 345.5 billion. Notably, as of 2021, the Global Weight Management Industry already boasted a substantial worth, valued at US$ 319 billion.
This significant market expansion underscores the growing awareness and commitment to maintaining a healthy weight, as individuals increasingly seek innovative solutions to address their weight-related concerns.
As per the Institute of Health Metric and Evaluation, 30% of the world’s population is obese. Obese is one of the major health challenges in developed and developing countries. Also, the rising volume of bariatric surgeries and the rising adoption of online weight loss & management programs are anticipated to positively influence the industry in the forecast period.
The growing prevalence of obesity among the expanding population is expected to propel the market expansion during the forecast period. As per the World Obesity Atlas 2022, one billion people globally, including 1 in 5 women and 1 in 7 men, will be living with obesity by 2030. This significant rise in the number of obese patients is anticipated to drive demand for an efficient weight management system. Further, growing awareness about weight management and obesity among developing nations is expected to drive market growth in the coming period.
Increasing strategic collaborations of players with each other are expected to drive market growth during the forecast period. In September 2019, Currax Pharmaceutical disclosed the acquisition of Nalpropion Pharmaceuticals. This acquisition resulted in the addition of Contrave anti-obesity medication to Currax’s product portfolio. Similarly, in November 2019, Novo Nordisk collaborated with UNICEF to prevent children from obesity. Such partnerships among players are expected to benefit the industry growth during the forecast period.
Lack of awareness regarding obesity and the inability to afford premium health club memberships among developing countries are expected to impact the market negatively in the forthcoming period. As per IQVIA, only 2% of the total obese population is treated with prescribed medicines. Further, the presence of a limited number of market players is another cause hindering the expansion. However, rising disposable income and increasing awareness about the alternatives for weight loss and management can propel market growth in the forecast period.
Key Takeaways from the Global Weight Management Industry Study
- Weight management market to secure US$ 725.6 Billion during the forecast period from 2022 to 2032.
- By equipment, the fitness equipment segment is anticipated to expand at a CAGR of 7.6% during the forecast period.
- The weight management industry to be dominated by the U.S while garnering US$ 250 Billion by 2032
- The weight management industry in China is expected to expand at the highest CAGR of 6.8% during the forecast period
- The weight management market in Japan is estimated to reach US$ 41.1 Billion by 2032
“Increasing cases of obesity and the growing health concerns among baby boomers are expected to support the market expansion in the coming time,” remarks an analyst at FMI.
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Global Weight Management Industry Competition Analysis
Key players in the industry include Herbalife Nutrition Ltd., NutriSystem, Inc., Weight Watchers International, Inc., eDiets.com, Inc., and Brunswick Corporation. Major developments in the market are:
- In June 2022, Herbalife Nutrition inked a sports nutrition partnership with Notre Dame shooting guard Blake Wesley, who has been training at the Herbalife Nutrition IMPACT Basketball Center.
- In January 2021, Herbalife Nutrition, an eminent nutrition company, announced that it had inked an agreement to repurchase approximately US$ 600 million of the Company’s common shares beneficially owned by Carl C. Icahn and certain of his affiliates for US$ 48/05 per share.
- In December 2020, Kainos Capital, a firm focused on specializing in managing food and consumer businesses, completed the acquisition of Nutrisystem from Tivity Health for US$ 575 Million. The private Capital Group of MSD Partners, LP partnered with Kainos Capital in the transaction in the form of preferred and common equity investments.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Weight Management Industry, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on Diet (Meals, Beverages, Supplements), Equipment (Fitness Equipment, Surgical Equipment), Services (Fitness Centers, Slimming Centers, Consultation Services, Online Weight Loss Services), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
About the Healthcare Division at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Key Segments Profiled in the Global Weight Management Industry Report
Global Weight Management Industry by Diet:
- Weight Management Meals
- Weight Management Beverages
- Weight Management Supplements
Global Weight Management Industry by Equipment:
- Weight Management Fitness Equipment
- Weight Management Surgical Equipment
Global Weight Management Industry by Services:
- Weight Management across Fitness Centers
- Weight Management across Slimming Centers
- Weight Management Consultation Services
- Weight Management through Online Weight Loss Services
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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