Market growth can be attributed to increasing obese population, increasing number of bariatric surgeries, growing adoption of online weight loss and weight management programs, rise in disposable income in developing economies, sedentary lifestyle, and increasing government initiatives for creating awareness among obese populations.
What the Market Looks Like?
According to the new market research report the weight loss and weight management market is expected to reach USD 245.51 billion by 2022 from USD 175.94 billion in 2017, at a CAGR of 6.9%. The market in Asia is expected to grow at the highest CAGR during the forecast period.
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Major Market Developments
• In 2017, Conyers Park and Atkins combined to form a new holding company, The Simply Good Foods Company. This company is expected to expand its platform through investment opportunities in the snacking space and broader food category.
• In 2017, Brunswick partnered with VirZOOM to launch the VirZOOM solution, which is expected to transform Life Fitness''s Discover SE3 bikes into a Virtual Reality experience.
• In 2016, Brunswick acquired Indoor Cycling Group (ICG). The acquisition expanded Brunswick’s portfolio of fitness products.
• In 2016, Atkins partnered with Chef''d to launch a low carb meal solution for health-conscious consumers
Product launches accounted for the largest share of the overall growth strategies mapped from 2014–2017. Some of the leading players who adopted this strategy are Atkins Nutritionals (US), Brunswick (US), Nutrisystem (US), Weight Watchers (US), Amer Sports (Finland), Herbalife (US), and Johnson Health Technology (Taiwan).
Prominent players in the weight loss and weight management market, by diet, include Atkins Nutritionals, Inc. (Atkins) (US), Herbalife Ltd. (Herbalife) (US), Nutrisystem Ltd. (Nutrisystem) (US), and Kellogg Company (Kellogg) (US).
Ethicon, Inc. (Ethicon) (US), Covidien, plc. (Covidien) (US), Apollo Endosurgery (US), and Olympus Corporation (Olympus) (Japan) are some prominent players in the surgical equipment market, while Brunswick Corporation (Brunswick) (US), Amer Sports (Finland), Johnson Health Technology, Ltd. (Johnson Health Tech) (Taiwan), Cybex International (Cybex) (US), and Technogym SpA (Technogym) (Italy) operate in the fitness equipment segment.
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-Market Dynamics-
Fitness Centres and Health Clubs
Fitness centers offer group exercises, personalized programs, timely body composition analyses, water workouts, yoga sessions, spinning sessions, and cardiovascular exercises for weight management and physical health and fitness. Increasing awareness of fitness has led to the introduction of new and creative techniques such as Zumba, which help burn calories more effectively.
Consulting Services
This segment includes services offered by dieticians, nutritionists, and other weight management professionals who evaluate each individual’s lifestyle to help address the medical, nutritional, and behavioural issues related to weight gain. Considering the health requirements of individuals, diet and nutrition consultants prescribe and plan specialized nutritional and diet plans to maintain the recommended calorie consumption. Dieticians provide services such as children diet consulting, hypertension diet consulting, diabetes diet consulting, pregnancy diet consulting, and cholesterol diet consulting, among others.
Slimming Centres and Commercial Weight Loss Centres
Slimming centres are known for their commercial weight loss programs, which include slimming techniques that do not require heavy workout sessions. They offer various programs, such as vacuum therapies, mud therapies, cool sculpting, steam baths, cellulite control therapies, acupressure therapies, diet modification plans, balanced diets, and customized weight loss programs. These programs are very effective for individuals who avoid physical workout sessions.
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