Weight Loss and Weight Management Diet Market Size, Share & Trends Analysis Report By Product Type (Better-for-you, Meal Replacement, Weight Loss Supplement, Green Tea, Low-calorie Sweetener), By Sales Channel (Hypermarket/Supermarket, Specialty Stores, Pharmacies, Online Channels, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global weight loss and weight management diet market size was valued at USD 208.83 billion in 2022. It is projected to reach USD 529.89 billion by 2031, growing at a CAGR of 10.90% during the forecast period (2023-2031). North America region is having the highest percentage of obese individuals. The rate of childhood obesity in this area has alarmingly increased due to a spike in fast food consumption per capita. Growing Obesity Rate, Public Health Initiatives, Untapped Potential in Emerging Markets 

In recent years, industrialized economies have seen an increase in the prevalence of health issues like diabetes, cardiovascular disorders, and cancer. In North America and Western Europe, changing eating patterns, sedentary lifestyles, and high disposable income make people more likely to suffer health issues like diabetes and cancer. Therefore, the rise in the prevalence of health conditions has facilitated the acceptance of weight reduction and weight management solutions. Additionally, growing fitness awareness in China and India due to improved lifestyles and altered eating patterns is anticipated to present profitable business prospects to companies in the worldwide weight loss and weight control diet market during the forecast period.

Market Dynamics

Global Weight Loss and Weight Management Diet Market Drivers

Rising Number of Obese People

The main force behind the increase in the world's obese population has been the need for weight loss and management diets. More than 1.9 billion persons aged 18 and older were overweight in 2016, according to the WHO. Over 650 million of these people were obese. 13% of individuals 18 years or older and 39% of adults overall were overweight. Most people reside in nations where being overweight and obese are the leading causes of death. In addition, a prognosis based on a linear time trend predicts that by 2030, an estimated 51% of the world's population will be obese. Obesity has come to be recognized as a chronic illness that contributes to serious health issues like diabetes, cardiovascular disease, joint problems, and cancer.

Governmental Programs and Education Campaigns

Government organizations play a crucial role in raising people's knowledge of their health, particularly in industrialized nations. In the United States, government organizations hold campaigns in various schools. Michelle Obama, for example, sponsored the Let's Move campaign to fight childhood obesity. Similarly, the UK government developed strategies to reduce sugar consumption, including a sugar tax on soft drinks, recommended refining high-sugar meals, and calorie-reduction initiatives to combat childhood obesity. These initiatives aid in raising awareness and teaching parents, teachers, and other caregivers about the value of children's health and fitness.

Global Weight Loss and Weight Management Diet Market Restraint

Non-Beneficial Effects of Substances in Low-Calorie Foods and Beverages

Most meals and beverages contain low-calorie sweeteners as an ingredient. Most sweeteners on the market are used excessively, which has substantial health consequences. A study published in the National Center for Biotechnology Information states that artificial sweeteners breach the blood-brain barrier and interfere with hippocampus function. Furthermore, some research suggests artificial sweeteners alter the natural gut microbiome, which may result in metabolic syndrome and obesity, limiting the expansion of the worldwide market. This reduces sensitivity to interceptive signals and dysregulates appetitive behavior, boosting food consumption.

Global Weight Loss and Weight Management Diet Market Opportunities

Unexplored Potential in Developing Markets

Key competitors have substantial growth potential in the Asia-Pacific industry. The two main drivers anticipated to drive the market growth are the rising disposable income of consumers and the increased adoption of Western lifestyles. Market companies may find chances to introduce high-end, calorie-efficient products in this region. Manufacturers are concentrating on growing their business in this area to boost their consumer base and broaden their geographic reach. Due to the increasing prevalence of obesity in the region, it is also projected that Latin American nations like Brazil will present appealing opportunities during the projection period.

Greater Awareness of Exercise and Health

Due to the rise in obesity prevalence, developed nations with high per capita income have seen a quick increase in health issues. Additionally, since a decade ago, the percentage of obese people has steadily climbed in developing nations like China, India, and Brazil. In 2019, about 90 million people in China experienced health problems due to obesity. Additionally, 40% of Brazil's women and 50% of men are overweight. Thus, as consumers have become more aware of their health, the use of diets for weight loss and control has increased.

Regional Analysis

The global weight loss and weight management diet market is divided into four regions: North America, Europe, Asia-Pacific, and LAMEA. 

North America Dominates the Global Market

North America is the most significant revenue contributor and is expected to exhibit a CAGR of 6.00% during the forecast period. North America is the region with the most significant percentage of fat people. Due to a spike in fast food intake per capita, there has been an alarming rise in the incidence of childhood obesity in this area. Due to the growing demand for weight management goods, sales of low-cholesterol, high-fiber food, snacks, and beverages have steadily risen in the area. All age groups are increasingly using meal replacements instead of conventional food items. Additionally, the region serves as the biggest market for nutritional supplements and weight loss medications.

Europe is expected to exhibit a CAGR of 6.85% during the forecast period. After North America, Europe has the second-highest rate of obesity. In France and Britain, 40% and 50% of people are fat. The demand for high-quality low-cholesterol bakeries, sweets, patisseries, breakfast cereals, cookies, and other culinary products is also very high throughout Europe. People of all ages have continually increased their desire for meal replacements, particularly whey and soy protein diets. Due to their increased awareness of their physical appearance, women have been a significant target market for businesses in nations like France and Britain offering meal replacements and dietary supplements.

The Asia-Pacific weight reduction and weight control diet sector has expanded significantly due to the recent surge in obesity. The three countries having the highest prevalence rates of obesity are Australia, China, and Japan. The consumption of healthy meals and beverages has increased recently in the area. China's demand for wholesome, low-fat food and drink has grown. Since 2007, the Chinese market has experienced a substantial expansion in the meal replacement sector. A rise in consumer per capita income and a rise in obese people primarily drive the Asia-Pacific weight loss and weight management industry. Furthermore, the region's obesity problem has worsened due to a rising preference for fast food and snacks.

Brazil is one of the most alluring marketplaces in Latin America, which has one of the world's fastest-expanding markets for weight reduction and management diets. This is explained by the growing urban population's concerns about obesity. The market is expanding in LAMEA partly due to changes in consumer behavior and significant consumer spending on health and wellness items. In LAMEA, healthier food and drink consumption has increased to improve physical appearance. Customers in the area are increasingly embracing diets high in fiber and carbs. To maintain competition and build their customer bases, food and snack manufacturers have improved their product lines, considerably aiding in expanding the LAMEA weight loss and weight control diet market.

Segmental Analysis

The global weight loss and weight management diet industry is segmented by product type and sales channel.

Based on product type, the global weight loss and weight management diet market are bifurcated into better for you, meal replacement, weight loss supplements, green tea, and low-calorie sweetener.

The better-for-you meal replacement segment is the major contributor to the industry and is estimated to exhibit a CAGR of 6.95% during the forecast period. Premium-grade foods and drinks with lower fat, sodium, and sugar content are better for you. These foods and beverages are made with ingredients that have low sodium, sugar, and fat content. With the increased prevalence of obesity and related disorders, there is a significant market for such goods in North America and Europe. In recent years, the demand for low-calorie food and beverages, such as snacks, sweets, and soft drinks, has increased in developing nations. Due to international food and beverage manufacturers providing a wide variety of new products across several categories, such as breakfast cereals, snacks, desserts, and ready meals, North American and European markets are highly competitive.

Due to the presence of reputable businesses like Herbalife and Abbott Laboratories, the meal replacement market is quite competitive. Given that women are more concerned with physical appearance and fitness, the women's market has been the focus of market players. To acquire a competitive edge in the industry, businesses have positioned their offerings around health and fitness benefits and boosted their social media presence. Additionally, the prevalence of diseases linked to obesity, such as diabetes and cardiovascular conditions, has increased, encouraging the use of meal replacement products.

Supplements for weight loss are used to reduce excess body fat and keep the body in shape. These products aid in weight loss by decreasing hunger, limiting the absorption of macronutrients and metabolizing body fat. Supplements for weight loss come in various forms, including capsules, tablets, liquids, and powders. They primarily include dietary fibers, minerals, and botanicals (herbs). The critical driver of nutritional supplements' rising popularity has been the desire to maintain body shape and decrease weight without making many lifestyle changes. Additionally, appealing advertising tactics used by market participants in conjunction with their health and fitness claims have supported market expansion on a global scale.

Based on sales channels, the global weight loss and weight management diet industry are bifurcated into hypermarket/supermarket, specialty stores, pharmacies, online media, and others.

The hypermarket/supermarket segment owns the highest market and is estimated to exhibit a CAGR of 7.20% during the forecast period. Large retail chains include supermarkets and hypermarkets. Most retail sales of low-cholesterol foods, low-calorie beverages, and other weight-management food items come from this area. Supermarkets, which are more significant than traditional grocery stores but more minor and with a lower selection of goods than hypermarkets or big-box markets, are huge self-service grocery stores that sell a variety of food and household items. A hypermarket is a type of retail establishment that sells a broader range of goods than a supermarket, including food, groceries, and commerce, all under one roof.

Health and beauty stores are under the category of specialty retailers and serve as crucial outlets for the selling of diet goods for weight loss and weight control. Customers like getting their dietary supplements and health products from reputable retailers. The majority of meals for losing weight are sold in specialty shops. Specialty retailers have steadily increased their sales of low-calorie sweeteners and green tea over the past few years.

Online distribution is the leading sales route for many dietary supplements and meal replacement ingredients. Due to a higher internet penetration rate in developed regions like North America, this distribution route is well-established. Due to the rise in internet users and the availability of tempting deals and discounts, the business is expanding significantly in emerging nations. Diet pills, dietary supplements, and meal replacement ingredients are all non-perishable goods that can be obtained online for weight loss. Online retailers have become more prevalent in recent years thanks to aggressive online marketing, tempting deals, and business discounts. Customers prefer online platforms since they are convenient and easily accessible.

Recent Developments

• March 2022- KaraMD introduced a vegan gummy called Pure Health Apple Cider Vinegar Gummies to encourage better energy levels, support healthy digestion, and promote ketosis in the body.
• February 2021- Hydroxycut unveiled CUT Energy, a delectable clean energy drink, as its newest invention. This powerful combination was developed scientifically with daily energy drink drinkers, fitness fanatics, and dieters in mind.