New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Weight Loss Products And Services Global Market Report 2023" - https://www.reportlinker.com/p06451043/?utm_source=GNW
, Fitbit Inc., Fresenius Kabi AG, Glanbia plc, MuscleBlaze, Gold’s Gym International Inc., Hammer Nutrition Direct, Jarrow Formulas Inc., and Lallemand Inc.
The global weight loss products and services market is expected to grow from $275.97 billion in 2022 to $299.39 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The weight loss products and services market is expected to reach $415.95 billion in 2027 at a CAGR of 8.6%.
The weight loss products and services market consist of revenues earned by entities by fitness training, yoga sessions, gymnasium, and zumba sessions.The market value includes the value of related goods sold by the service provider or included within the service offering.
The weight loss products and services market also includes sales of cereals and flour, dairy non-drinkable, frozen fruits and vegetables, dairy drinkable, energy drinks and fruit and vegetable juices.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Weight loss products and services refer to the products that assist in the person’s total body weight reduction by losing muscle, water, and fat.A weight loss service will provide tips on maintaining a healthy weight over the long term and help to lose weight gradually and securely.
Weight loss products and services are used by consumers facing the issues of excess body weight and obesity to get into better shape.
North America was the largest region in the weight loss products and services market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising ageing population is expected to propel the weight loss products and services market.The ageing population refers to an increase in the proportion of elderly people due to changes in the age structure of a population.
Weight loss products and services help the ageing population who are obese and have a high prevalence of being overweight due to age-related changes in body composition, characterized by a gradual increase in fat content and a decline in lean mass and bone density.For instance, in September 2020, according to World Population Ageing 2020 Highlights, a report by the United Nations, a a US-based intergovernmental organization, in the year 2020, there were 727 million people above the age of 65.
Between 2020 and 2050, the elderly population will grow in size across the board. Globally, it is predicted that the proportion of adults 65 and older will increase from 9.3% in 2020 to almost 16.0% in 2050. Therefore, the rise in the ageing population is driving the growth of the weight loss products and services market.
New technology and development is a key trend in the weight loss products and services market.Major players in the market for weight loss goods and services are utilizing cutting-edge technology to maintain their market share.
For instance, in February 2021, Performance Health Systems, a US company operating in weight loss products and services, launched the Personal Power Plate with its whole-body vibration technology.The unique features of the new technology are that it delivers faster and more effective results for all fitness levels, regardless of physical limitations.
Additionally, squats, planks, lunges, and other exercises are performed on the vibrating power plate to help attain the fitness objectives, and lose weight more quickly and efficiently than with only traditional training.
In June 2022, Solace Nutrition, LLC, a a US-based medical nutrition company, acquired R-Kane Nutritionals for an undisclosed amount.With the acquisition, Solace is expected to gain traction in the nearby nutritional management industry and allow it to offer to R-Kane clients its core manufacturing and distribution expertise.
By integrating R-Kane Nutritionals into Solace, growth for both brands will be speed up and synergies will be created. R-Kane Nutritionals, LLC is a a US-based company that caters to the weight loss products and management industry by offering high-protein meal replacement options.
The countries covered in the Weight Loss Products And Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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