CHICAGO, July 24, 2019 /PRNewswire/ -- According to the new market research report "Weight Loss and Weight Management Market by Equipment (Fitness (Treadmill, Elliptical, Stair Stepper), Surgical Equipment (Biliopancreatic Diversion, Gastric Bypass)), Diet (Meal, Beverage, Supplement), and Weight Loss Services - Global Forecast to 2022", published by MarketsandMarkets™, 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 prevalence of childhood obesity is increasing across the globe owing to factors such as the lack of physical activity and unhealthy eating habits. Overweight or obese children are more likely to be obese in their adulthood and are more prone to suffer from diabetes and CVD at an early age. In 2014, globally, the number of overweight children (under the age of 5) was estimated to be over 41 million (Source: World Health Organization); around half of these children are living in Asia. As a result of this trend, the demand for healthier balanced diets is expected to increase across the globe. This, in turn, will provide significant growth opportunities for players operating in the weight management market.
Beverages segment to dominate the market in 2017
Based on diet, the market is segmented into beverages, meals, and supplements. The supplements segment is expected to register the highest CAGR during the forecast period. The high growth of this Weight Management Marketsegment is attributed to the lesser stringency in the approval process for supplements.
The fitness equipment segment is projected to grow at the highest CAGR during the forecast period.
Based on equipment, the market is segmented into fitness equipment and surgical equipment. The fitness equipment segment is projected to register the highest CAGR during the forecast period. The high growth of this segment can be attributed to factors such as continuous technological developments in equipment and growing accessibility to gyms.
Based on service, the market is segmented into fitness centers and health clubs, slimming centers and commercial weight loss centers, consulting services, and online weight loss programs. The online weight programs segment is expected to be the fastest-growing segment in the weight loss and weight management market. The growth of this segment can primarily be attributed to the popularity of online programs that are offered through Internet subscriptions.
Among the four regional segments covered in the weight loss and weight management market—North America, Europe, Asia, and the Rest of the World (RoW), Asia is expected to register the highest CAGR during the forecast period. Growth in the Asian market is attributed to factors such as the increasing incidence of obesity and diabetes, sedentary lifestyles, low cost of bariatric surgeries (which is also promoting medical tourism in the region), rising disposable income, and increasing awareness about nutrition and healthy lifestyles.
The weight loss and weight management market is highly competitive, with the presence of several small and large players. Some of the players operating in this market include Atkins Nutritionals (US), Herbalife (US), Nutrisystem (US), Ethicon (US), Covidien (US), Apollo Endosurgery (US), Brunswick (US), Amer Sports (Finland), Johnson Health Technology (Taiwan), Technogym (Italy), Weight Watchers (US), Jenny Craig (US), eDiets.com (US), VLCC Healthcare (India), Slimming World (UK), The Gold's Gym (US), Duke Diet & Fitness Center (US), Equinox (US), Life Time Fitness (US), Fitness First Group (US), and Town Sports (US).
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