Growing demand for weight loss supplements drives market growth, fueled by increasing health consciousness and desire for quick results

AUSTIN, TX, UNITED STATES, February 14, 2024 /EINPresswire.com/ -- The 𝐖𝐞𝐢𝐠𝐡𝐭 𝐋𝐨𝐬𝐬 𝐒𝐮𝐩𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 growth is driven by a combination of factors, ranging from the global obesity epidemic and associated health concerns to increasing disposable incomes and a growing emphasis on a healthy lifestyle. As these factors continue to shape consumer behaviour, the market is poised for sustained and robust expansion in the coming years.
According to the SNS Insider report, the Weight Loss Supplements Market Size was valued at USD 46.17 billion in 2022 and is anticipated to reach USD 161.03 billion by 2030, exhibiting a remarkable CAGR of 16.9% over the forecast period from 2023 to 2030.

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Key Players:
Abbott, ABH Pharma Inc., Amway, Dub Nutrition, Euro Pharma USA, General Nutrition Centers, Inc., Glanbia plc, GlaxoSmithKline plc, Herbalife International of America, Inc.

Market Report Scope
The escalating prevalence of obesity and its associated health issues, including Cardio vascular diseases (CVDs), diabetes, and hypertension, is a key driver for the increasing demand for weight loss supplements. Shockingly, as per the World Health Organization, approximately 2.8 million individuals succumb to overweight or obesity-related causes annually. Moreover, about 115 million individuals in developing countries are grappling with obesity-related ailments. This alarming scenario is propelling the reliance on weight loss supplements for maintaining a healthy body weight, thus boosting market growth.
Furthermore, the rising disposable income worldwide and the growing emphasis on a healthy lifestyle are expected to further drive the market. In Europe, for instance, nearly 79% of the population is willing to pay more for organic weight loss supplements, reflecting a profound interest in overall well-being. The expanding working and middle-class population, especially in countries like India, where household incomes are projected to triple, will contribute significantly to the rising demand for weight loss supplements.

Market Analysis
The weight loss supplements market is thriving, driven by a global increase in obesity rates. The growing awareness of health risks associated with obesity, such as diabetes, heart disease, and certain cancers, has prompted individuals to seek effective weight management solutions. Weight loss supplements offer a convenient and accessible way for individuals to address their weight loss goals, contributing to the market's upward trajectory.
Moreover, the sheer magnitude of the obese population worldwide, estimated at over 1 billion people, further intensifies the demand for weight loss supplements. The World Health Organization projects a significant increase in the demand for weight loss supplements due to the rising obesity rate, as 167 million people, both adults and children, are expected to face health challenges related to obesity by 2025.

Segment Analysis
• In 2020, the powders segment claimed the highest revenue share of 32.7%. This dominance can be attributed to the convenience and longer shelf life of powdered formulations, allowing easily regulated dosages. Powdered formulations are ideal for individuals with ingestion issues, offering quick and efficient nutrient absorption compared to other formulations like pills and softgels.
• Similarly, in 2020, the vitamins and minerals segment dominated with a revenue share of 58.0%. The widespread consumption of vitamin- and mineral-based weight loss supplements is driven by their dual functionality of supporting weight management and providing essential nutrition. Antioxidants present in these supplements prevent cell damage and enhance overall health, supporting bodily functions.

Impact Of Covid-19 ON Weight Loss Supplements Market:
• The Covid-19 pandemic has had a significant impact on various industries, and the weight loss supplements market is no exception. The outbreak of the virus has brought about several changes in consumer behavior, leading to both challenges and opportunities for this particular market.
• One of the primary factors affecting the weight loss supplements market is the shift in priorities and lifestyle changes caused by the pandemic. With lockdowns, social distancing measures, and work-from-home arrangements becoming prevalent, people's routines have been disrupted. This disruption has resulted in altered eating habits, reduced physical activity levels, increased stress levels, and even emotional eating for some individuals. As a result, there has been a surge in demand for weight loss supplements as people seek ways to manage their weight during these challenging times.

Growth Factors
• The surge in obesity rates globally is a primary driver propelling the demand for weight loss supplements. Individuals facing overweight and obesity conditions are seeking effective solutions to manage weight and mitigate the associated health risks. The prevalence of obesity is linked to a rise in cardiovascular diseases (CVDs), diabetes, and hypertension. As per World Health Organization estimates, approximately 2.8 million individuals succumb to overweight or obesity-related causes annually, emphasizing the urgent need for weight management solutions.
• The growing disposable income across regions, coupled with an increasing focus on maintaining a healthy lifestyle, is a significant growth factor for the weight loss supplements market. Consumers are becoming more conscious of their health and wellness, leading to a heightened interest in weight management solutions. Data from William Reed Business Media Ltd. highlights that a substantial portion of the European population is willing to pay more for organic weight loss supplements, indicating a strong consumer preference for products that contribute to overall well-being.

Key Regional Development
North America is expected to witness significant growth in the weight loss supplements market, owing to a high awareness of health and fitness, coupled with a large obese population. Additionally, the region's advanced healthcare infrastructure and consumer willingness to invest in health-related products contribute to its dominance. However, Asia-Pacific is projected to experience the fastest growth, driven by increasing disposable incomes, rising middle-class population, and growing awareness of healthy lifestyles.

Weight Loss Supplements Market Opportunity: Expanding Consumer Base and Growing Health Consciousness :
• The weight loss supplements market presents a significant opportunity for businesses due to the expanding consumer base and the increasing health consciousness among individuals. With rising obesity rates and lifestyle-related diseases, there is a growing demand for effective weight management solutions, creating a favorable environment for weight loss supplements.
• One of the key factors driving this market opportunity is the changing demographics. The global population is witnessing a shift towards an aging population, which often faces challenges in maintaining a healthy weight. As people age, their metabolism slows down, making it harder to shed excess pounds. This demographic segment seeks safe and efficient ways to manage their weight, leading to an increased demand for weight loss supplements.

Key Takeaways
• The weight loss supplements market is propelled by a global increase in obesity rates and heightened awareness of associated health risks.
• Powdered formulations and vitamin- and mineral-based supplements dominate their respective segments, offering convenient and nutritionally rich weight loss solutions.
• North America leads in market share, driven by health consciousness, while Asia-Pacific emerges as the fastest-growing region.

Recent Developments
In January 2022: Solace Nutrition acquired the assets of R-Kane Nutritionals, expanding its brand portfolio and presence in the medical nutrition market.
In February 2021: Nestle Health Science acquired Persona Nutrition, enhancing its personalized nutrition offerings in the weight management sector.

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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7.  Pest analysis
8. Global Weight Loss Supplements market segmentation, by Form
8.1 Soft Gel/Pills
8.2 Powder
8.3 Liquid
9.  Global Weight Loss Supplements market segmentation, by End-User
9.1 Men
9.2 Women
9.3 Senior Citizen
10. Global Weight Loss Supplements market segmentation by Distribution Channel
10.1 Pharmacies Drug Store
10.2 Health & Beauty Store
10.3 Hypermarket/Supermarket
10.4 Online Sales
10.5 Other Sales Channel
11. Global Weight Loss Supplements market segmentation by Ingredients
11.1 Vitamins & Minerals
11.2 Amino Acids
11.3 Botanical Supplements
11. 4 Others
12. Global Weight Loss Supplements market, by region/ country
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company profiles
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 Swot Analysis
13.1.4 The SNS View
15. Conclusion

About Us
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