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Global Weight Management Market Size Projected to Surpass USD 326 billion by the year 2028, Registering a Robust Year on Year Growth of 8.4% - Report by ReAnIn
About 40% of adults aged 18 years and over are overweight and 39 million children under the age of 5 are overweight or obese, according to World Health Organization (WHO). Moreover, the prevalence of overweight and obesity among children and adolescents has risen dramatically from just 4% in 1975 to just over 18% in 2016. This increasing rate of prevalence has become a major concern for policymakers in almost every country as obesity/overweight leads to various chronic diseases such as cardiovascular diseases, musculoskeletal disorders, and even some cancers (including breast, ovarian, and others). Weight management products can assist in managing obesity and hence, its demand has increased significantly in recent years. There is a range of products available in the market from dietary to training/fitness solutions. According to a study, even a modest loss of 5 to 10% of body weight is likely to produce health benefits, such as improvements in blood pressure, blood cholesterol, and blood sugars.
Availability of substandard products and incorrect claims by manufacturing companies may lead to a lack of confidence in consumers. Various companies are selling supplements to treat depression and other mental disorders. Such marketing activities are illegal and may harm consumers. Moreover, some supplements may contain ingredients that have strong biological effects which may conflict with medicine that a patient is taking for treatment of other illnesses.
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The prevalence of obesity was 42.4% (2017-18) in adults in the United States , according to the Centers for Disease Control and Prevention (CDC). Moreover, the prevalence of severe obesity has increased from 4.7% to 9.2% in the last twenty years. Since obesity leads to various health complications, medical costs for the obese population are significantly higher than for healthy people. The COVID-19 pandemic forced people to remain inside their homes and hence, lead to growth in demand for virtual fitness solutions.
ReAnIn has segmented the global weight management market by:
Leading players in the diet segment include Abbott Laboratories, Atkins Nutritionals, Inc., Herbalife Ltd., Nutrisystem Ltd., Medifast, Inc., Kellogg Company, and Cargill Incorporated.
Johnson and Johnson, Medtronic Plc, and Olympus Corporation are a few leading players in surgery equipment, while the fitness equipment market is dominated by Brunswick Corporation, Amer Sports , Johnson Health Technology, Ltd., Cybex International (Cybex), WW International, Inc, and Technogym SpA.
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