The Business Research Company's weight loss supplements market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, Aug. 23, 2022 /PRNewswire/ --The growing obese population is driving the growth of the weight loss supplements market. Obesity refers to the abnormal or excessive accumulation of fat, which might impair the health of individuals. In recent years, obesity has become a public health challenge across the globe, with a substantial contribution to global mortality and morbidity. The growing obese population is predicted to boost demand for weight loss supplements as these are widely adopted by individuals as healthy options to reduce weight. For instance, according to the World Health Organization (WHO), over 1 billion people globally are obese currently (2022). Of that, 650 million are adults, 340 million are adolescents, and 39 million are children. By 2025, around 167 million adults and children will become less healthy as they are overweight or obese.
The global weight loss supplements market share is expected to grow from $30.12 billion in 2021 to $34.19 billion in 2022 at a compound annual growth rate (CAGR) of 13.51%. The global weight loss supplements market sizeis expected to grow to $55.41 billion in 2026 at a compound annual growth rate (CAGR) of 12.83%.
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Technological Advancement Is A Key Trend In The Weight Loss Supplements Market
The development of new production technologies and innovative products is a key trend gaining popularity in the weight loss supplements market. Major companies operating in the weight loss supplements market are focused on developing innovative weight loss supplements to meet fast-growing end customer demands and strengthen their position in the weight loss supplements market. For instance, Nature's Formulas, a USA-based supplement company, has developed BioFit, an innovative, industry-leading probiotic weight loss supplement manufactured from natural ingredients. This product includes natural ingredients and 800 milligrams of microbes that can survive harsh stomach acids to quickly improve digestion, increase energy, and speed up fat loss with no side effects. The company has developed this product to target and help customers lose body weight without following strict diet plans, exercise, or weight-reducing surgeries.
Weight Loss Supplements Market Segmentation
The global weight loss supplements market analysis is segmented -
Key Players And Their Strategies In The Weight Loss Supplements Market
Major players in the weight loss supplements marketare Glanbia PLC, GlaxoSmithKline PLC, Herbalife Nutrition Ltd, Abbott, Kellogg Company, Nestle, Kraft Heinz Company, Amway Corp, Ajinomoto Co Inc, Nutratech Ltd, Shaklee Corporation, Transparent Labs, Ultimate Life Ltd, and Vitaco.
In January 2022, Solace Nutrition, a USA-based medical nutrition company, acquired the assets of R-Kane Nutritionals for an undisclosed amount. This acquisition of assets helps Solace Nutrition to create synergy between both brands and enhance its growth while providing a presence in an adjacent nutrition market. R-Kane Nutritionals is a US-based company that specializes in high-protein meal replacement products for weight management.
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The Rise In Obesity Rates Is Expected To Drive The Weight Loss Supplement Market To $55 Billion By 2026 - PR Newswire
