The global weight loss supplement market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factor that is expected to boost the market growth includes the rising cases of obesity and related health ailments, such as CVD, diabetes, and hypertension. As per the World Health Organization estimates in June 2021, approximately 2.8 million individuals die every year due to overweight or obesity. In addition, as of 2021, the WHO estimates approximately 115 million individuals are suffering from obesity-related ailments in developing countries.
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Therefore, the growing dependency on weight loss supplements to maintain normal body weight is expected to propel the growth of the market. In addition, an increasing disposable income and growing awareness regarding maintaining a healthy lifestyle are expected to drive the growth of the global weight loss supplement market. Moreover, an increase in the working class is anticipated to fuel the market growth during the forecast period. Health clubs recommends weight loss supplements to members, which in turn, is accelerating the market growth.
Furthermore, the rising millennial population coupled with the growing trend of gaining the perfect body physique, especially in the millenials, also propels the growth of the market. Moreover, a rise in preference for weight loss supplements in pills formulation owing to the easy availability of the same in chewable tablets sustained-release pills, and sublingual pills is contributing to the growth of the market during the forecast period. In addition, factors, such as pills being comparatively cost-effective than other formulations, and their higher shelf life, and wide acceptance among patients of all age groups, are driving the demand for pill type formulation. Online retailers offer lucrative discounts on product prices, which, in turn, drives sales of the weight loss supplement through online channels. Furthermore, online platforms are devising and implementing numerous strategies to compete with their offline counterparts, which in turn is expected to boost the growth of the global weight loss supplement market.
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Market Coverage
- Segment Covered-
o By Ingredients
o By End-User
o By Distribution Channel
o By Type
- Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape: Glanbia plc, Amway Corp., and GlaxoSmithKline PLC, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Weight Loss Supplement Market Report by Segment
By Ingredients
- Natural Extract/Botanicals
- Amino Acids
- Vitamins and Minerals
By End-User
- 18-40 Years
- Under 18 Years
By Distribution Channel
- Online
- Offline
By Type
- Powder
- Pills
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