Increasing number of bariatric surgeries, growing rate of obesity, increasing prevalence of lifestyle diseases, and launch of new and advanced products are the factors driving the growth of the weight loss market.
According
to a new market research report the global Weight Loss and Weight
Management Market size is estimated to reach USD 303.81 billion by 2027
from USD 175.94 billion in 2017, at a CAGR of 6.9%.
Based
on diet, the weight loss and weight management market is segmented into
meals, beverages, and supplements. In 2017, the beverages segment is
expected to account for the largest share of the weight loss management
market. Growth in this segment is majorly driven by the growing diabetic
population across the globe.
The fitness equipment segment is projected to grow at the highest CAGR during the forecast period.
By
equipment, the weight loss management market is segmented into fitness
equipment and surgical equipment. The fitness equipment segment is
estimated to register the highest growth rate during the forecast
period. The high growth in this segment can primarily be attributed to
the continuous technological advancements in fitness equipment and
growing accessibility to gyms.
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Key Market Players
Prominent
players in the weight loss and weight management market, by diet,
include Atkins Nutritionals, Inc. (Atkins) (US), Herbalife Ltd.
(Herbalife) (US), Nutrisystem Ltd. (Nutrisystem) (US), and Kellogg
Company (Kellogg) (US).
Ethicon, Inc. (Ethicon) (US), Covidien,
plc. (Covidien) (US), Apollo Endosurgery (US), and Olympus Corporation
(Olympus) (Japan) are some prominent players in the surgical equipment
market, while Brunswick Corporation (Brunswick) (US), Amer Sports
(Finland), Johnson Health Technology, Ltd. (Johnson Health Tech)
(Taiwan), Cybex International (Cybex) (US), and Technogym SpA
(Technogym) (Italy) operate in the fitness equipment segment.
Brunswick
dominated the weight loss and weight management fitness equipment
market. The company has managed to create a unique identity in this
market due to its robust product portfolio and large geographic
presence. In addition, the company focuses on adopting organic as well
as inorganic growth strategies to maintain its leading position in the
market. For instance, in May 2017, the company launched a new Integrity
Series cardio line, including a Treadmill, Elliptical Cross-Trainer, and
Upright and Recumbent Lifecycle Exercise Bikes. To leverage
opportunities in the weight loss and weight management market, in
January 2016, the company acquired Cybex (US) which expanded Brunswick’s
portfolio of fitness products.
Recent Developments
>
In 2017, Atkins collaborated with Conyers Park (Germany) to form a new
holding company, The Simply Good Foods Company. This company is expected
to expand its platform through investment opportunities in the snacking
space and broader food category.
> In 2016, Atkins signed a partnership agreement with Chef’d to lauch a low carb meal solution for health-conscious consumers
>
In 2017, Brunswick Corporation signed a partnership agreement with
VirZOOM to launch the VirZOOM solution, which is expected to transform
Life Fitness’s Discover SE3 bikes into a virtual reality experience
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