Rise in Preventive Healthcare Will Significantly Augment the Global Weight Management Market Until 2020, Says Technavio

LONDON--()--According to the latest market research report by Technavio, the global weight management market is expected to grow at a CAGR of 5.37% until 2020.

In this report, Technavio covers the present scenario and growth prospects of the global weight management market for 2016-2020. To calculate the market size, Technavio researchers have used revenues generated from the sale of following product categories:

  • Diet products
  • Fitness equipment
  • Services

“Consumers are becoming increasingly interested in health management products, including healthier foods and beverages, which are low in carbohydrates and fats. They are also engaging in daily workouts to aid weight control, improve skin health, build immunity, increase energy levels, and treat health disorders,” said Amber Chourasia, one of Technavio’s lead industry analysts for health and wellness research.

“Personalized services offered by personal trainers at gyms, consultancy services, and online weight management programs enable people to customize their products, resulting in increased customer satisfaction. Growing awareness regarding preventive healthcare also lowers spending on medical expenses, and this trend will likely increase the demand for weight management products during over the next four years,” added Amber.

Global weight management market by geography 2015 ($ billions)

  • Americas 18.68
  • EMEA 14.06
  • APAC 13.62

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Weight management market in Americas

The weight management market in the Americas was valued at USD 18.68 billion in 2015. The weight management market in the Americas is led by the US, followed by Canada and Brazil. Increased awareness, high disposable income, and increased incidences of age-related health conditions in this region have led to the increased demand for weight management products. The demand for meal replacement products such as energy bars and ready-to-drink shakes is the highest in the Americas. This is mainly driven by the increasing popularity of on-the-go breakfast, coupled with retail distribution that encourages buying. In the US, manufacturers emphasize on the presence of protein and fiber in energy bars to use them as a substitute for breakfast items such as bagels and cereals. For instance, high-protein meal replacement bars such as SlimFast Chocolate Crunch Meal Bar, Chocolate Peanut Meal Bar, and Summer Berry Meal Bar provide essential mineral, vitamins, and proteins. Abbott Nutrition and Danone are the most respected and preferred brands of meal replacement products in the US.

Weight management market in EMEA

The weight management market in EMEA was valued at USD14.06 billion in 2015. The weight management market in EMEA is growing at a steady rate. The region is led by Western Europe, followed by Eastern Europe, the Middle East, and Africa. The high demand in Europe can be attributed to increased awareness, high affordability, and a rising older population. For instance, the high demand for weight management products in France is because of rising awareness among consumers fueled by government campaigns. Programme National Nutrition Santé is one such health campaign that aims to improve the state of healthcare in the country.

Weight management products such as meal replacements, weight loss supplements, and low-calorie food and beverages must adhere to certain standards according to European directives. Meal replacement products must contain at least 25% protein, between 200 to 400 calories, and 23 vitamins and minerals. The department of health in Ireland has made it mandatory for restaurants to display the number of calories on the menu. This is an effective way of encouraging people to choose a healthier option and make informed choices.

Weight management market in APAC

The weight management market in APAC was valued at USD 13.62 billion in 2015. The rapidly expanding economies in APAC, particularly India, China, and Japan, exhibit an increased awareness of the benefits of proactive personal healthcare practices, thereby driving the market for weight management products in the region. The rising per capita income of people in this region has further enhanced the demand for quality health nutrition. As a result, international vendors are expanding their presence in emerging countries.

Vendors are also adopting online channels to sell low-calorie food and beverages. In 2014, Kellog Company and Cornitos started to sell packaged food and beverages in India through Amazon. Monk Fruit, the world’s leading monk fruit company, announced the launch of Sweet-Delicious monk fruit juice at the Food Ingredient Trade Show 2015 in Chicago. Monk fruit is being marketed globally as a solution for sugar and calorie reduction. The company expects to get regulatory approvals and product introductions covering over 5 billion consumers in the near future.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest market research report by Technavio, the global weight management market is expected to grow at a CAGR of 5.37% until 2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com