Market Highlights
Dietary supplements, inthe form of tablets, capsules, softgels, powder, and liquid, that aid in
reducing body weight, are referred to as weight loss products or supplements.
The global weight loss supplements market is expected to garner a revenue of
USD 40 Billion by 2024 and register a CAGR of 5.5% during the forecast period
of 2019 to 2024. 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.
Key Players
Some of the keyplayers in the global weight loss supplements market are Iovate Health Sciences
International Inc. (Canada), Amway (US), GlaxoSmithKline plc (UK), Herbalife
International of America, Inc. (US), Shaklee Corporation (US), Glanbia plc
(Ireland), Abbott (US), General Nutrition Centers, Inc. (US), Ultimate Life
Ltd. (UK), Vitaco (New Zealand), Wolfson Berg Limited (Cyprus), ABH Pharma Inc.
(US), Transparent Labs (US), Dub Nutrition (US), EuroPharma USA (US), and
Nutratech Ltd (New Zealand).
Some of the strategiesfollowed by the players operating in the market were product launches, mergers,
agreements, and joint ventures.
Market Segment
The global weight loss supplementsmarket size has beensegmented on the basis of form and distribution channel.
Based on form, theglobal weight loss supplements market share has been divided into tablets,
capsules, & softgels, powder, and liquid. The tablets, capsules, &
softgels segment is expected to gain the largest revenue share during the
review period owing to the easy availability of weight loss supplements in the
form of capsules, tablets, & softgels. During the forecast period
2019–2024, the tablets, capsules, & softgels segment is expected to
register the highest growth rate due to the low storage cost incurred, ease of
transportation, high availability, and high shelf life of such supplements.
By distributionchannel, the global weight loss supplements market analysis has been classified
as store-based and non-store-based. The store-based segment has been further
segregated into hypermarkets and supermarkets, drug stores, and others. The
store-based segment is expected to garner the larger market share during the
review period owing to the high sales of weight loss supplements through drug
stores, which itself is the largest revenue generating sub-segment in the store-based
sales of weight loss supplements. However, the non-store-based segment is
expected to register the higher CAGR during the forecast period owing to the
increasing proliferation of e-commerce in the pharmaceutical and nutraceutical
industry.
Regional Analysis
The global weightloss supplements market revenue has been segmented, by region, into NorthAmerica, Europe, Asia-Pacific, and the rest of the world.
The market in NorthAmerica is projected to dominate the global weight loss supplements 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.
Key Developments
In July 2017, EuroPharma USA launched Slim-VX1 underthe brand name Terry Naturally. It is a new weight loss supplement that
supports healthy weight loss in conjunction with a proper diet and routine
exercise.
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