Diet Pills Global Market Report 2024 - By Size, Share, Demand, Growth, Forecast To 2033

The diet pills market size has grown rapidly in recent years. It will grow from $1.62 billion in 2023 to $1.81 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increased awareness of health and fitness, rising obesity rates, changing lifestyles and dietary patterns, marketing and promotion strategies, medical endorsements and prescriptions.

The diet pills market size is expected to see rapid growth in the next few years. It will grow to $2.79 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to continued focus on health and wellness, global increase in overweight population, expansion of weight management services, innovations in formulations and ingredients, growing e-commerce and direct-to-consumer channels.. Major trends in the forecast period include technological innovations in formulations, emphasis on mental well-being, incorporation of appetite suppressants, digital health integration, expansion of online and e-commerce distribution.

Market Overview -
Diet pills refer to tablets or capsules intended to assist users in reducing or controlling their weight. It is used to improve metabolism, lower appetite, and break down fat.

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Obesity-Related Health Risks Boost Demand For Diet Pills
The rising problem of obesity is expected to propel the growth of the diet pill market going forward. Obesity refers to weight gain that is abnormal or excessive, usually a body mass index (BMI) greater than 30, which poses a health risk. Obesity raises the risk of dying from the esophagus, colon, rectum*, liver, gallbladder, pancreas, and kidney cancers. It also encourages the occurrence of disorders, including type 2 diabetes (T2D) and cardiovascular diseases (CVD). Obese people use diet pills as a form of medication to help them lose weight. Diet pills decrease a person's appetite and food cravings, thus reducing weight. For instance, in May 2022, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), more than 2 in 5 adults (42.4%) have obesity, and about 1 in 11 adults (9.2%) have severe obesity. Therefore, the increasing prevalence of obesity is driving the growth of the diet pill market.

Competitive Landscape -
Major companies operating in the diet pills market report are GlaxoSmithKline plc, Iovate Health Sciences International Inc., Novo Nordisk A/S, Gelesis Inc., VIVUS Inc., Pfizer Inc., Zoller India Pvt. Ltd., Creative Biosciences Pvt. Ltd., Applied Nutrition Ltd. (India), Herbalife Nutrition India Private Limited, Camillotek India Pvt. Ltd., Avon Products Inc., NOW Foods, MuscleTech Research and Development LLC, Healthviva Group of Companies, Nalpropion Pharmaceuticals LLC, Chong's Health Care Pte. Ltd., Currax Pharmaceuticals LLC, TEVA PHARMACEUTICAL INDUSTRIES LTD, Eli Lilly and Company, Arena Pharmaceuticals GmbH & Co. KG, Orexigen Therapeutics Inc., Takeda Pharmaceutical Company Limited, Eisai Co. Ltd., Roche Holding AG, Sanofi SA, Boehringer Ingelheim International GmbH, Merck & Co. Inc., Johnson & Johnson, Abbott Laboratories

Wellbeing Nutrition Launches Plant-Based Slow Supplements
The popularity of plant-based supplements is a key trend in the diet pill market. Companies operating in the diet pill market are developing plant-based diet pills to sustain their position in the market. For instance, in April 2022, Wellbeing Nutrition, an India-based plant-based nutrition company, launched SLOW. The formulation consists of 13 supplements and has been specifically tailored for a variety of distinct health and wellness needs, including reproductive assistance, bone health, weight loss, and everyday multivitamins and nutrition, among many others. The SLOW technology employs continuous-release coated pellets in a capsule to ensure the human body's timely digestion of vitamins and nutrients throughout the day. This new line is intended to meet consumer demands for increased energy, physical endurance, mental alertness, and functional health advantages for disease prevention.

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Key Segments -
The diet pills market covered in this report is segmented -
1) By Product Type: Prescription, Over The Counter, Herbal Supplements
2) By Age: Teenagers, Adults
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Drug Stores
4) By Application: Appetite Suppression, Fat Blocking, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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