Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market for weight loss supplements is a rapidly changing and dynamic industry, influenced by a wide range of variables that affect customer preferences, industry trends, and general market dynamics. The growing worldwide awareness of health and heartiness is one of the main factors propelling this market's expansion. The need for weight supplements pills has significantly increased as individuals realize how important it is to lead healthy lives. Additionally, the growing prevalence of rotundity and related health problems has increased demand for successful weight-loss outcomes, driving the market ahead. The characteristics of the weight loss supplement market are significantly shaped by consumer trends.
There has been a discernible change in favor of natural and organic ingredients in these supplements recently. Customers are becoming more health-conscious and intelligent, looking for items that support their wider aspirations of heartiness while also helping them lose weight. Products with plant-based or herbal wordings have become more fashionable as a result, as consumers view them as safer and more environmentally friendly. Similarly, it is impossible to ignore how digitization has affected market dynamics. The introduction of e-commerce platforms has changed how customers access and buy supplements for weight loss. Customers have an easy way to browse a large selection of items, read reviews, and develop well-informed judgments thanks to online channels.
The increased rivalry among market participants has encouraged businesses to invest in online presence and digital marketing tactics in order to remain relevant in this changing geographic area. Another important aspect influencing the dynamics of the weight loss supplement industry is regulation. Strict guidelines evaluating the effectiveness and safety of these items by health authorities have an impact on marketing plans as well as production processes. Businesses in this sector have to negotiate a challenging nonsupervisory landscape to ensure adherence to health regulations and win over customers. Moreover, the constant research and development efforts to validate the effectiveness of weight supplements pills add to the dynamic character of this industry. Another dynamic element of the market for weight loss pills is the competitive geography.
Numerous businesses compete for market share, from well-known pharmaceutical behemoths to smaller contenders. These businesses use innovation and seclusion as key tactics to differentiate themselves in a crowded industry. Using different product offerings, creative wording, and calculated partnerships are standard strategies to obtain a competitive advantage. The market structure is also shaped by mergers and acquisitions, as larger businesses aim to broaden their product lines and customer bases. The juggernauts of mindfulness and consumer education also have a major impact on market dynamics.
Customers are more likely to select weight supplements pills that suit their own needs and preferences as they become more knowledgeable about the vibrant options available. To build consumer loyalty and trust, producers and marketers fund educational initiatives to disseminate knowledge about the advantages, unstated negative effects, and appropriate usage of their items.
Weight Loss Supplements Market Highlights:
Global Weight Loss Supplements Market Overview
Weight Loss Supplements Market Size was valued at USD 38.1 billion in 2023. The Weight Loss Supplements market industry is projected to grow from USD 40.2 Billion in 2024 to USD 55.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 45.8% during the forecast period (2024 - 2032). The increase in cases of obesity and related diseases like diabetes, hypertension, and cardiovascular diseases (CVDs), rising disposable income and growing concerns about leading healthy lives are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Weight Loss Supplements Market Trends
-
The growing obese population is driving the market growth
The growing obese population is one of the main drivers of the weight loss supplements market. As the prevalence of obesity and overweight conditions continues to rise ly, more individuals are seeking ways to manage their weight and improve their health. Weight loss supplements are seen as a convenient and accessible way to achieve weight loss goals, and as a result, the demand for these supplements has increased in recent years. Additionally, the increasing awareness of the health risks associated with obesity, such as diabetes, heart disease, and certain cancers, has led to a greater focus on weight management and the use of weight loss supplements.
Moreover, the rising number of obese people is expected to increase demand for Weight Loss Supplements market revenue because many people use them as healthy ways to lose weight. For example, the World Health Organization (WHO) estimates that over 1 billion people worldwide are obese as of 2022, including 650 million adults, 340 million adolescents, and 39 million children. As a result of being overweight or obese, 167 million people—adults and children—will be less healthy by 2025. As a result, it is anticipated that during the forecast period, demand for weight loss supplements market CAGR will increase due to the rising obesity rate.
Weight Loss Supplements Market Segment Insights
Weight Loss Supplements Form Insights
The Weight Loss Supplements market segmentation, based on Form, includes Tablets Capsules & Softgels, Powder and Liquid. The Tablets Capsules & Softgels segment currently holds the largest market share in the Weight Loss Supplements market revenue, and this is expected to continue in the coming years. The tablets, capsules, and softgels segment currently holds the largest market share in the weight loss supplements market. This is because these forms of supplements are widely available, easy to use, and provide a convenient way to consume the necessary nutrients. They are also popular among consumers who prefer to take supplements in a pill form rather than mixing powders or consuming liquids. Additionally, many weight loss supplements in tablet, capsule, and softgel form are designed to be taken once or twice a day, making them a convenient and easy addition to daily routines. As a result, this segment is expected to continue to dominate the market in the coming years. However, the powder and liquid segments are also growing in popularity and are expected to gain market share as more consumers seek alternative forms of weight loss supplements.
Weight Loss Supplements Distribution Channel Insights
The Weight Loss Supplements market segmentation, based on Distribution Channel, includes Store-based and Non-Store-based. The store-based segment currently holds the largest market share in the weight loss supplements market based on distribution channels. Store-based distribution channels include health and wellness stores, pharmacies, drug stores, supermarkets, and hypermarkets, among others. These channels are popular among consumers because they offer a wide variety of weight loss supplements from different brands, allowing consumers to compare products and make informed purchasing decisions. In addition, consumers often prefer to purchase supplements from physical stores where they can see and touch the product before buying it.
The non-store-based segment, on the other hand, includes e-commerce platforms, direct selling, and other online channels. While this segment has been growing rapidly in recent years, it still holds a smaller market share compared to the store-based segment. Non-store-based channels offer the convenience of shopping from home and access to a wider range of products from different parts of the world. However, consumers may face challenges in verifying the authenticity and safety of products, which can impact their purchasing decision thereby hindering market growth.
FIGURE 1: WEIGHT LOSS SUPPLEMENTS MARKET, BY DISTRIBUTION CHANNEL, 2022 & 2030 (USD BILLION)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Weight Loss Supplements Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America region currently holds the largest market share in the weight loss supplements market. This can be attributed to several factors, including the high prevalence of obesity in the region, the increasing awareness of the health risks associated with obesity, and the growing trend towards healthy living and weight management. North America has the highest prevalence of obesity in the world, with over 70% of adults considered overweight or obese. This has led to a growing demand for weight loss supplements as consumers look for ways to manage their weight and improve their overall health. Additionally, the region has a well-established healthcare infrastructure, which includes health and wellness stores, pharmacies, and supermarkets, making it easy for consumers to access weight loss supplements.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
FIGURE 2: WEIGHT LOSS SUPPLEMENTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Weight Loss Supplements market accounts for the second-largest market share due to the increasing awareness of the health risks associated with obesity, which has led to a growing interest in weight management among consumers. Further, the Italy Weight Loss Supplements market held the largest market share, and the Germany Weight Loss Supplements market was the fastest growing market in the European region.
The Asia-Pacific Weight Loss Supplements Market is expected to grow at the fastest CAGR from 2022 to 2030. To support an ideal physique and general well-being, the adult and geriatric population is rapidly expanding and heavily uses appetite suppressants and weight management drugs. Due to improved distribution strategies adopted by the major players to increase product availability, the Asia Pacific regional market is anticipated to expand at a consistent CAGR during the forecast years. Additionally, untapped potential in Asia Pacific's developing nations reflects the region's expanding demand. One of the major factors boosting the market is the expanding patient base in Asia and the Pacific. Moreover, China Weight Loss Supplements market held the largest market share, and the India Weight Loss Supplements market was the fastest growing market in the Asia-Pacific region.
Weight Loss Supplements Key Market Players & Competitive Insights
Major market players operate in a highly competitive market and are constantly working to gain an edge over their competitors. Some of the market developments/key strategies adopted by these players include product innovation, marketing and branding, strategic partnerships and collaborations, and mergers and acquisitions. Marketing and branding is also an important strategy in the weight loss supplements market. Companies use various marketing channels to create brand awareness and promote their products to consumers. They use social media, influencer marketing, and other forms of digital marketing to reach their target audience.
One of the primary business strategies adopted by manufacturers in the Weight Loss Supplements industry to benefit clients and expand the market sector is to expand their production capacity and adopt innovative technologies in order to meet consumer demand. The Weight Loss Supplements market major player such as Ultimate Life Ltd., Wolfson Berg Limited, AMWAY, Glaxosmithkline PLC, Herbalife International Of America Inc., Health Sciences International Inc., Glanbia PLC, Abbott, General Nutrition Centers Inc., Vitaco, ABH Pharma Inc., Shaklee Corporation, Transparent Labs, Europharma USA, Nutratech Ltd, and Others.
Key Companies in the Weight Loss Supplements market includes
- ULTIMATE LIFE LTD. (UK)
- WOLFSON BERG LIMITED (CYPRUS)
- AMWAY (US)
- GLAXOSMITHKLINE PLC (UK)
- HERBALIFE INTERNATIONAL OF AMERICA INC. (US)
- IOVATE HEALTH SCIENCES INTERNATIONAL INC. (CANADA)
- GLANBIA PLC (IRELAND)
- ABBOTT (US)
- GENERAL NUTRITION CENTERS INC. (US)
- VITACO (NEW ZEALAND)
- ABH PHARMA INC. (US)
- SHAKLEE CORPORATION (US)
- TRANSPARENT LABS (US)
- EUROPHARMA USA (US)
- NUTRATECH LTD (NEW ZEALAND)
- DUB NUTRITION (US)
- OTHERS
Weight Loss Supplements Industry Developments
January 2022: The assets of R-Kane Nutritionals were purchased in January 2022 by Solace Nutrition, a US-based medical nutrition company, for an undisclosed sum. By acquiring these assets, Solace Nutrition is able to expand its brand portfolio, foster brand synergy, and establish a foothold in a nearby nutrition market. A US-based business called R-Kane Nutritionals focuses on high protein meal replacement products for weight loss.
February 2021: Nestle Health Science acquired the weight management company, Persona Nutrition, to expand its personalized nutrition offerings.
March 2021: The nutrition and wellness company, Herbalife Nutrition, announced the launch of a new weight loss supplement, Formula 1 Select, which is plant-based and vegan-friendly.
Weight Loss Supplements Market Segmentation
Weight Loss Supplements Form Outlook
- Tablets Capsules & Softgels
- Powder
- Liquid
Weight Loss Supplements Distribution Channel Outlook
- Store-based
- Non-Store-based
Weight Loss Supplements Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
