The "Global Weight Management and Wellbeing Products Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and Their Market Strategies" report has been added to ResearchAndMarkets.com's offering.
The global weight management and wellbeing product market was valued at USD 20.56 billion in 2019 and it is expected to grow with a CAGR of 6.98% over the forecast period of 2020-2025.
The growth of the market is driven by the rise in the population suffering from obesity and overweight. Over 2 billion adults across the world aged 18 years and older are overweight and more than 700 million out of 2 billion adults are obese. Overweight and obesity was believed to be a high-income country problem. However, today, it is on the rise in low- and middle-income countries as well, particularly in urban settings. A large part of the world's population live in countries where overweight and obesity kills more people than underweight. Moreover, most of the people suffering from overweight and obesity are willing to try to manage their weight. A number of people adopt more convenient ways for weight management owing to their hectic lifestyle. This, in turn, increases the demand of weight management and wellbeing products.
The survey conducted by the author found most of the people across the world consume weight management and wellbeing product at least once in a day. While a considerable part of population consume weight management product twice a day. The higher consumption of the weight management and wellbeing product is largely due to the growing awareness regarding obesity and overweight and its effect on health. The weight management products help in reducing overweight and obesity. Moreover, availability of number of OTC weight management and wellbeing products in the market makes them more accessible to the consumers. Thus people can easily buy weight management products from the nearest pharmacy or retail stores. This, in turn, leads to more consumption of weight management and wellbeing products.
The United States, China and Germany among Top Markets for Weight Management and Wellbeing Products
According to the findings in the report, countries in the United States, China and Germany are some of the best markets for weight management and wellbeing products. North America and Asia Pacific together make more than 65% of the total sales of weight management and wellbeing products in the world. The US is the leading country in terms of sales in the global weight management product market followed by China and Germany. Higher prevalence of obesity and greater awareness about its effect on health coupled with a higher willingness to spend on wellbeing are the major drivers for the sale of weight management and wellbeing products in these countries.
North America Generated Highest Revenue from Weight Management and Wellbeing Products
In terms of geography, North America generated the highest revenue in the global weight management and wellbeing product market. Higher prevalence of overweight and obesity and preventive healthcare is the major driver for the growth of the market in North America. Furthermore, higher geriatric population and strong distribution channels are augmenting the growth of the market. Additionally, the presence of major players in the market such as Amway and NBTY are propelling the North American market. Moreover, the Asia Pacific region is projected to grow with the fastest rate owing to the growing awareness about weight management and wellbeing product and improving healthcare and economic conditions in the region.
- Growing prevalence of obesity and overweight
- Rise in the awareness regarding of weight management
- Increase in the disposable income
- Higher cost of weight management and wellbeing products
- Growing adoption of online weight loss and weight management program
- The Kellogg Company
- Kraft Heinz Company
- General Nutrition Centers Inc.
- Herbalife Nutrition Ltd.
- Amway Corp.
- Abbott Laboratories
- Atkins Nutritionals, Inc.
- Nestle S.A.
- General Mills, Inc.
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