Weight Loss Supplements Market Outlook
Dietary supplements, in the form of tablets, capsules, soft gels, powder, and liquid, that aid in reducing body weight, are referred to as weight loss products or supplements. The global weight loss supplements market size was valued at USD 33.4 billion in 2020 and is projected to expand at a compound annual growth rate (CAGR) of 16.6% from 2021 to 2028.
The market is expected to become lucrative over the years to come owing to the increasing trend of fitness among the population, especially those of the age group of 25 and above, as a part of overall personality development. Rising focus of a section of the youth on their body weight is expected to render profitable opportunities to the market players during the forecast period. Additionally, increasing research and development investments, by the manufacturers of weight loss & diet management products, to cater to the changing consumer needs are helping the growth of the global weight loss supplements market.
Regional Analysis
The global Weight Loss Supplements Market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The market in North America is projected to dominate the global weight loss industry market owing to the growing health concerns among consumers. In addition, the presence of several prominent market players in the region is driving the growth of the North American Weight Loss Supplements Market. However, the market in Asia-Pacific is expected to register the highest growth rate during the forecast period owing to the rise in population, suffering from obesity, and rising per capita disposable incomes of the people in the region.
Top key Players of Market Following Way The renowned companies active in the global market for Weight Loss Supplements are BASF, Dow Agrosciences, Syngenta, Bayer AG, Agrium, Monsanta, ICL and Sumitomo Chemical.
Most of these companies are positioned strongly in the global market, since commercially available products are less, and brand name is the only factor inducing sales. Besides, these players make strategical movies like manufacturing capacity expansion, new product launches and acquisition to improve their rankings in the global industry.
Segmental Analysis
To present an extensive framework of the Weight Loss Supplements industry, the MRFR report has outlined product type, surgery, and application as the key segments.
Product types discussed in the report include Energy drinks, meal replacement smoothies/shakes, green tea, Fat loss & fat gain Supplement, and more. The market for meal replacement smoothies/shakes is doing particularly well, especially in emerging regions. Meal replacement smoothies/shakes have extended shelf-life and are easy to store. Gyms and other health centres encourage their clients to go for meal replacement smoothies and shakes to inculcate healthy practises.
Surgery-wise, the global market caters to bariatric surgery and liposuction. Liposuction is a popular surgery backed by rising number of promotions on social media, lower risks to health, and successful results at affordable costs. Besides, emerging trends of minimally invasive procedures also augment the segment’s growth in the market.
Weight Loss Supplements have applications in oilseeds, fruits & vegetables, grains, and more. The grains segment has taken the lead, as these facilitate quicker weight loss and are therefore, preferred by consumers seeking faster results.
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