Weight Loss Supplements Market will reach at $ 122.33 billion by 2032, And Forecast -Creative Bioscience, Glanbia, GSK, Herbalife, Lovate Health Sciences, Atkins Nutritional, Avon, NOW Foods, MuscleTech, Bioalpha Holdings Berhad, Camillotek India, Healthv

The global weight loss supplements market size was valued at USD 35.4 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 17.6% from 2021 to 2032. The rising cases of obesity and related health ailments, such as Cardiovascular Diseases (CVDs), diabetes, and hypertension, are expected to drive product demand. 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, WHO estimates approximately 115 million individuals are suffering from obesity-related ailments in developing countries. Therefore, the growing dependency on weight loss supplements to maintain normal body weight is expected to propel market growth.

Some of the Top companies Influencing this Market include:

Creative Bioscience, Glanbia, GSK, Herbalife, Lovate Health Sciences, Atkins Nutritional, Avon, NOW Foods, MuscleTech, Bioalpha Holdings Berhad, Camillotek India, Healthviv, Applied Nutrition

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Weight Loss Supplements Market Types:

Anorectics, Amphetamine, Ephedrine, Proactol, Pyruvate, Thyroid Boosters.

Weight Loss Supplements Market Applications:

Children, Adults

Type Insights
In 2020, the powders segment accounted for the highest revenue share of 32.7%. The powdered formulation makes provision of higher quantities of supplement and has a longer shelf life with the easily regulated dosages as per individual requirement, which is a driving factor for this segment. The ease of administration and dosage allows the body to digest and absorb the nutrients quickly & efficiently making them more bioavailable when compared to other formulations. Powdered formulations are perfect for individuals with hampered ingestion or clinically diagnosed dysphagia where solid oral supplement formulations, such as pills and softgels, cannot be administered.

However, the pills type segment is expected to record the fastest CAGR over the forecast years. Arise in preference for weight loss supplements in pills formulation due to the easy availability of the same in chewable tablets sustained-release pills, and sublingual pills is contributing to the segment growth. In addition, factors, such as pills being comparatively cheaper 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 in the market.

Market Dynamics

Drivers

One of the major factors responsible for the growth of this market is the rising number of people suffering from obesity that is the problem of overweight. Also, by becoming aware of the problems attached to obesity many people are willing to reduce it and maintain a healthy lifestyle. So, the usage of these supplements is considered to be the fastest remedy that can boost the weight loss process and due to this, the weight loss supplement market is expected to experience tremendous growth during the forecast period. Along with the rising concerns regarding weight disorders the increase in per capita disposable income is another factor responsible for the expansion of this market. Lastly, the new mutants of natural weight loss supplements being launched by the prime players is another factor responsible for the growth of this industry. The economic value generated by the supplement manufacturing industry.

Restraints

It is a very well-known fact that natural things consumed by the human body carry no side effects with it. But when something in the form of supplement is additionally added to the system of the human body it makes the consumer open to many health risks. No doubt these Weight Loss Supplements Market are good for maintaining a healthy lifestyle, but every single body doesn't react the same way. So, the fact of different side effects being attached to the consumption of these supplements is the only factor that can hamper the growth of this market to a certain extent

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The U.S. Market is Estimated at $6.5 Billion, While China is Forecast to Grow at 7.5% CAGR

The Weight Loss Supplements market in the U.S. is estimated at US$6.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.9 Billion by the year 2027 trailing a CAGR of 7.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3% CAGR.

Liquid Segment to Record 4.7% CAGR

In the global Liquid segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.3 Billion in the year 2020 will reach a projected size of US$5.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.5 Billion by the year 2027, while Latin America will expand at a 5.7% CAGR through the analysis period.

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Distribution Channel Insights
In 2020, the offline distribution channel segment accounted for the highest revenue share of 70.4%. The easy availability of weight loss supplements at retail pharmacies, drug stores, health & beauty stores, and department stores is contributing to the segment growth. In addition, health & beauty stores and department stores are proactively undertaking initiatives to spread awareness about maintaining good health, which is expected to positively impact the segment growth. Moreover, offline stores are continuously involved in increasing the overall customer engagement and experience at the stores. Several health & beauty stores and department stores have introduced point-of-sale terminals to accelerate the checkout process. Consumers tend to rely more on offline channels as compared to online platforms as there is a threat of purchasing substitute or counterfeit products.

However, the online distribution channel segment is expected to record the fastest CAGR over the forecast period. Online retailers offer lucrative discounts on product prices, which, in turn, drives sales through online channels. In addition, online platforms are devising and implementing numerous strategies to compete with their offline counterparts. The convenience offered by online distribution channels is positively impacting the segment growth. Furthermore, with the penetration of e-commerce, there is a gradual shift towards online distribution channels of supplements. The rise in self-directed consumers is also one of the key factors driving the segment growth.

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