Weight Loss Market Size to Witness Robust Expansion throughout the Forecast 2020 – 2027

Demand for weight loss services is increasing due to growing per capita healthcare expenditure and health consciousness as a result of rising cases of obesity. Obesity is one of the major health concerns across the globe, which leads to a number of health complications, such as diabetes, Cardiovascular Diseases (CVDs), and cancers.

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Various fitness campaigns and initiatives by major market players for raising awareness about health and fitness are also expected to impel the market growth over the coming years. For instance, in the U.S., Campaign to End Obesity has introduced Treat and Reduce Obesity Act 2017 to encourage people to follow a proper diet plan and use various equipment for exercise.

Major companies in the market are also focusing on the development of technologically advanced products to promote weight loss services. For instance, WW International, Inc. launched Wellness Wins member rewards program in October 2018 to encourage people to follow a healthy lifestyle. It is an innovative, app-based program that allows members to earn points by tracking health activities, meals, and attending WW Wellness workshops.

Fitness equipment is expected to be the fastest-growing segment over the forecast period. Increasing awareness about health and fitness among people is positively impacting the market. In addition, the development of wearable technologies and incorporation of various smart devices in fitness equipment are among the key factors expected to drive the segment. The fitness equipment segment is further divided into cardiovascular equipment, strength training equipment, infrared light therapy equipment, and others.

Cardiovascular equipment is expected to grow at the highest CAGR over the forecast years. This growth can be attributed to various factors, such as ongoing initiatives undertaken by major companies and incorporation of cardiovascular training equipment with new technologies, especially in commercial clubs, health clubs, and gyms.

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Competitive Analysis

The major players in this market are Ajinomoto Co. Inc., Brunswick Corporation, Gold’s Gym International, Inc., Herbalife Ltd., Johnson Health Tech Co. Ltd., Nestle SA, Pepsico Inc., The Coca-Cola Co. and Nutrisystem Inc. The companies are focusing on product launch to capture market share. Nestle recently came up with a range of products under the brand name OPTIFAST, which is clinically proven to aid in weight loss. Pepsico and Coca Cola are using stevia for sweetening their beverages. Stevia is a sweetener with very low calories.

Weight Loss and Obesity Market Segmentation:

KEY DELIVERABLES
The global weight loss and obesity market is segmented based on dietary supplements, fitness and surgical equipments, services and geography.

BY DIETARY SUPPLEMENTS
• Dietary Food
• Dietary Beverages
• Dietary Supplements

BY FITNESS AND SURGICAL EQUIPMENT
• Cardiovascular Training Equipment
• Strength Training Equipment
• Body Composition Analyzers
• Fitness Monitoring Equipment
• Minimally Invasive Surgical Equipments
• Non-Invasive Surgical Equipment

BY SERVICES
• Fitness Clubs
• Slimming Centers
• Nutrition and Psychological Consulting Services

BY GEOGRAPHY
• North America
• Europe
• Asia pacific
• LAMEA

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