The increasing adoption of a sedentary lifestyle and the rise in bariatric population especially in the developed nations has led to a need to emphasize health and nutrition. Weight management is the process of using digital or technological ways and means to track health records and accordingly set diet charts, work out plans, and exercises to obtain the desired body mass index. The rising prevalence of obesity worldwide is projected to aid in the expansion of the global weight management market during the forecast period.
Online Sales Channels to Witness Notable Growth on account of the Rising Need to Remove Third-Party Mediums
As per categorization by sales channel, the market was dominated by the supermarket and hypermarkets segment on account of the easy availability of products and in a wide variety. Besides this, the online sales channel segment will also gain significant growth on account of direct buyer-to-seller transactions without the involvement of a third party.
According to the report by Transparency Market Research the global weight management market is anticipated to rise at a CAGR of ~4% to reach a value of USD 11.1 billion during the forecast period set between 2020 and 2030. In 2020, the value of this market stood at USD 7.2 billion.
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Rising Importance on Health and Fitness will Bolster Growth
Weight management during the COVID-19 pandemic is being connected to lessen the effect of the original disease in high-hazard patients. Producers in the weight management market are gaining interest in weight misfortune pills, which are equipped for commandeering the body’s craving by directing the framework in the cerebrum, bringing about decreased yearning and calories admission.
Weight management is considered as a blend of physical, passion, and conduct strength, and a drawn-out battle. It widely discovers its application in fitness habitats, internet counseling mediums, and different others. The weight management market is projected to witness gigantic development attributable to the adjustment of the way of life of most of the populace tending towards stationary culture and the rising number of bariatric medical procedures. Also, the predominance of the illness like corpulence, diabetics, coronary illness, hypertension, and others is another key factor driving the development of the market. Additionally, the developing adaption of the online weight management programs, expanding wellbeing awareness, and fitness obsession among the young populace are moving the market development. Nonetheless, the expense related to the low calories diet, and concerns in regards to the deceptive advertising rehearses are factors ruining the development of the market.
Geographically, the market is witnessing the highest growth from North America on account of the presence of a high bariatric population. This is further accountable to their eating lifestyle that mostly contains ready-to-eat and junk food or aerated beverages. The consumption of such food and beverage products for a long period eventually starts to show up in the body in the form of face fat, body fat, and obesity. The increasing number of health-related issues on account of obesity such as cardiovascular diseases and others are likely to propel the need for weight management programs and technologies. This will ultimately help the market in North America continue dominating the market in the forecast period.
The competitive landscape of the global weight management market is fragmented on account of the presence of multiple companies and the increasing number of entrants into the market. Producers in the weight management market are boosting their yield limits in cumin tea and a protein shake powders that assistance to keep the stomach feeling fulfilled. Players are also focusing on expanding their business in agricultural nations by putting resources into better correspondence systems and focusing on new clients to offer their items. Key organizations are likewise putting resources into extending their creative abilities to oblige the developing requests from the purchasers.
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The information presented in this report is derived from a report by Transparency Market Research titled, “Weight Management Market (Form: Soft Gels/Pills, Powder, and Liquid; End User: Men, Women, and Senior Citizens; and Sales Channel: Hypermarkets/Supermarkets, Pharmacy & Drug Stores, Health & Beauty Stores, Online Retail, and Other Retail Channels) – U.S., Australia, Hong Kong, and South Korea Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.”
Some of the key players of the global weight management market include Nature’s Way Products, LLC, Arbonne International LLC, Nature’s Sunshine Products Inc., Forever Living, GNC Holdings Inc., Amway Melaleuca Inc., NOW Health Group LLC., Vitaco Health Limited, Nu Skin Enterprises Inc., Herbalife Nutrition Ltd., and others.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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