Weight Loss Supplements Market to Reach Valuation of US$ 12 Bn by 2027: Industry Probe

January 30, 2020, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Weight Loss Supplements Market (Form: Powder, Capsules, Soft Gels, Tablets/Pills, Liquid, and Others (Drops, Caplets, etc.); Type: Appetite Suppressants, Carb/Fat Blockers, Fat Burners, and Others (Diuretics, Thermogenesis, etc.); End User: Men and Women; and Distribution Channel: Online [Company Website and e-Commerce Portals] and Offline [Hypermarkets/Submarkets, Specialty Stores, Brand Stores, and Drugstores]) – Global Industry Dynamics, Trends, and Forecast, 2020–2027,’ the global weight loss supplements market is expected to reach US$ 12 Bn by 2027 and expand at a CAGR of 5.5% from 2019 to 2027

Overview

  • The global weight loss supplements market was valued at US$ 7,471.7 Mn in 2018 and is expected to expand at a CAGR of 5.5% from 2019 to 2027. The growing epidemic of obesity and increased healthcare spending is anticipated to boost the global market for weight loss supplements in the near future.

  • The Asia Pacific held a major share of the global weight loss supplements market in 2018, followed by North America and Europe

  • The Middle East & Africa and South America are expected to be a key upcoming market for weight loss supplements during the forecast period. Increased desire to look slim and growing obsession for fitness are projected to drive the weight loss supplements market in the region.

Driving Factors

  • Obesity is a grave public health threat. Weight loss supplements help to reduce weight and in turn, helps to boost the confidence in the obese population. Hence, a rise in obesity rate is significantly driving the growth of the weight loss supplements market.

  • The strains of modern daily living, busy hectic lifestyles, and pressures of juggling a demanding job, family, and social life are unavoidable. Consumers want to eat healthily and get plenty of exercises but are hindered by their hectic lifestyles. They eat unhealthy food, as they do not have time to prepare nutritious food. These factors are projected to drive the weight loss supplements market.

Key Challenges

  • Several weight loss supplements contain ingredients that are contaminated, ineffective, dangerous, or actually illegal. Hidden ingredients have included stimulants, antidepressants, diuretics, seizure medicines, and laxatives. These ingredients have an adverse effect on human health.

Market Preference

  • In terms of form, capsules are witnessing increased demand. They can be taken apart, giving consumers the option of mixing the powdered contents with a beverage or food, and are easy to swallow. Based on type, the appetite suppressants segment held a major share of the global market in 2018.

  • Based on end-user, the women segment is a major contributor to the growth of the global weight loss supplements market

  • In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping

  • In terms of region, the Asia Pacific region accounts for a major share of the global weight loss supplements market, followed by North America and Europe

  • Women in the Asia Pacific, especially in China, are more dissatisfied with their body image. While women with round faces and curvy bodies are considered to be ideal in China, most women said that they preferred thin bodies and angular faces.

Competition Landscape

  • The weight loss supplements market is dominated by several players that are focused on the development of new products to cater to the rising demand

  • The report includes the below-mentioned pointers of major players operating in the global weight loss supplements market:

    • Competition Matrix

    • Company Overview

    • Product Profiling

    • Market Share Analysis (2018)

    • Product Innovation

    • Business Strategies/Recent Developments

      • Technological advancements

      • Key Mergers & acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered Under the Scope:

  • Abbott Laboratories

  • Amway Corp.

  • Atkins Nutritional

  • Evlution Nutrition

  • Glanbia Plc

  • Herbalife International, Inc.

  • Natrol, LLC

  • Natural Alternatives International, Inc.

  • Rapid Nutrition Plc

  • Reliv International, Inc.

Market Segmentation/Research Scope

Weight Loss Supplements Market – Global Industry Dynamics, Trends, and Forecast, 2020–2027

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