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Weight Loss Services Market Analysis, Trends, Growth, Research And Forecast 2033
Weight Loss Services Market Analysis
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According to The Business Research Company's, The weight loss services market size has grown strongly in recent years. It will grow from $15.59 billion in 2023 to $16.97 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to changing societal perceptions of body image, introduction of commercial weight loss programs, growth of the fitness and wellness industry, evolving lifestyle and dietary patterns.
The weight loss services market size is expected to see strong growth in the next few years. It will grow to $24.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to rise in telehealth and remote services, innovation in wearable health , focus on mental health and behavioral well-being, expansion of wellness and prevention programs, shift towards preventive health solutions. Major trends in the forecast period include expansion of corporate wellness programs, emphasis on sustainable and long-term results, incorporation of behavioral modification techniques, scientific advancements in nutrition and exercise physiology.
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Market Drivers and Trends:
The rising obesity rates are expected to propel the growth of the weight loss services market going forward. Obesity is a medical condition characterized by an excess accumulation of body fat to the extent that it may have adverse effects on health, leading to various diseases and health complications. Weight loss services are utilized to address and manage obesity by providing tailored strategies for healthy weight reduction. For instance, in March 2022, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, over 1 billion individuals globally are affected by obesity, comprising 650 million adults, 340 million adolescents, and 39 million children. This figure continues to rise, and it is projected that by 2025, around 167 million people, including both adults and children, will experience deteriorating health due to being overweight or obese. Therefore, the rising obesity rates are driving the weight loss services market.
Technological advancements are a key trend gaining popularity in the weight loss services market. Major companies in the weight loss products and services market are using advanced technologies to sustain their position in the market. For instance, in February 2021, Performance Health Systems, a US-based company operating in weight loss services, launched the Personal Power Plate with its whole-body vibration technology. The unique feature of the new technology is 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 more quickly and efficiently than with only traditional training.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Herbalife Nutrition Ltd., Kellogg Company, NutriSystem Inc., Nu Skin Enterprises Inc., Atkins Nutritionals Inc., Brunswick Corporation, Gold's Gym International Inc., Jenny Craig Inc., Covidien Ltd., eDiets.com Inc., WW International Inc., Apollo Endosurgery Inc., Abbott India Limited, Cargill Incorporated, General Mills Inc., Ingredion Incorporated, Noom Inc., MyFitnessPal, Medifast Inc., Slimming World, 24 Hour Fitness, Beachbody LLC, Orangetheory Fitness, Retrofit Inc., The Camp Transformation Center, Life Time Fitness, Profile by Sanford, Metabolic Research Center, Dr. G's Weight Loss & Wellness, The Biggest Loser Resort
Weight Loss Services Market 2024 Key Insights:
• The weight loss services market size is expected to see strong growth in the next few years. It will grow to $24.48 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Surge In Aging Population Drives Growth In The Weight Loss Services Market
• Tech Advancements In The Weight Loss Services Market
• North America was the largest region in the weight loss services market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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