Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Nutrition & Weight Management Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
The Global Nutrition & Weight Management Market is expected to grow at a CAGR of around 7.0% from 2020 to 2027 and reach the market value of over US$ 315.5 Bn by 2027.
North America dominates the global nutrition and weight management market, followed by Europe. The United States dominates the regional market for nutrition and weight management in North America. Because of the rising prevalence of overweight and obesity in the country, as well as rising awareness about personal well-being and increasing disposable income, the United States has dominated the weight management products market in the North America region. Consumers in the region prefer herbal and non-herbal weight management products such as slimming teas and calorie-restricted meal replacements such as shakes, powders, soups, and bars, among other products. Despite an outcry against weight loss supplements, the meal replacement category grew significantly, as these products are viewed as healthier alternatives to over-the-counter obesity and weight loss supplements.
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On the other hand, Asia Pacific is expected to have the fastest growing CAGR in the nutrition and weight management market in the coming years. The rising awareness of available alternatives for weight loss and management is one of the factors driving this significant growth. The rising popularity of diet plans and fitness centers is also expected to fuel growth.
Obesity is a huge challenge for both developed countries and low- and middle-income countries. Chronic diseases such as hypertension, diabetes, and orthopedic diseases are common in the overweight and obese population. As a result, the growing number of obese and overweight people is driving growth. Furthermore, an increasing preference for junk food, physical inactivity, and the growing fast food industry all contribute to an unhealthy and sedentary lifestyle, which leads to weight gain. Furthermore, people’s increasingly hectic schedules and increasing stress are causing them to consume fast food, which is having a negative impact on their health. As a result, all of these factors are contributing to growth.
Globalization and digitalization are making it easier to obtain information about the consequences of being overweight. This is raising awareness about various weight-loss solutions, such as diet meals, beverages and supplements, drugs, exercise, and surgical procedures.
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The global nutrition & weight management market is segmented based on product type and nutrition/weight management diet. The global nutrition & weight management market is segmented as nutrition, equipment, and service. By nutrition, the market is segmented as meals, beverages, and supplements. Based on equipment, the market is segregated as fitness equipment cardiovascular training equipment, strength training equipment, fitness monitoring equipment, body composition analyzers, surgical equipment, minimally invasive surgical equipment, and noninvasive surgical equipment. Further, by service, the market is segmented as fitness centers, slimming centers, consulting services, and online weight loss programs.
During the analysis period, the online weight loss program segment will provide lucrative opportunities and growth based on service. The rising prevalence of obesity, rising awareness about maintaining health and fitness for preventing health conditions such as diabetes and heart disease, an increase in the number of online weight loss program, and rising disposable income in developing economies are all contributing to the rapid growth of this market segment.
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The beverages segment is expected to dominate the global nutrition & weight management market in terms of nutrition. This segment’s large share can be attributed to an increasing obese population, rising consumer awareness of low-calorie food and beverages in developing economies, and an increasing diabetic population. Nutrition is gaining popularity as a weight loss and management solution in both developed and developing countries. Meals with the right amount of protein, fiber, and a lower amount of carbohydrates are thought to be an effective weight-loss method.
Some of the leading competitors are Atkins Nutritionals, Inc., Herbalife Nutrition, Nutrisystem, Inc., The Kellogg Company, Ethicon, Inc., Covidien, Apollo Endosurgery, and among others
Some of the key observations regarding nutrition & weight management market include:
- In December 2018, Atkins Nutritionals, Inc., announced new campaign namely, “Choose Wisely”. The newly launched campaign will continue to focus on educating consumers about making smart choices about the foods they eat, and avoiding excess carbohydrates and sugar.
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Content Source: https://www.globenewswire.com/news-release/2021/06/28/2253980/0/en/Nutrition-Weight-Management-Market-Value-Predicted-To-Reach-US-315-5-Billion-By-2027-Covering-Covid-19-Analysis-Acumen-Research-and-Consulting.html