The weight loss supplement market is poised to grow by USD 1.33 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Weight Loss Supplement Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Weight Loss Supplement Market Analysis Report by Distribution Channel (Retail outlets and Online stores), Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the demand from the growing obese population. In addition, the rise in promotional and marketing activities is anticipated to further boost the growth of the weight loss supplement market.
Globally, the prevalence of obesity has significantly increased over the past few decades. In 2019, more than 2 billion adults across the world were overweight which is about 28%-30% of the global population. Countries such as the US, China, India have a large number of people suffering from obesity. In the Middle East, more than 70% of the population is overweight. The growing prevalence of obesity increases the risk of developing lifestyle-related diseases such as diabetes, cardiac arrest, and stroke. With growing consumer awareness about such risks, there is an increased demand for weight loss supplements. These factors are fueling the growth of the global weight loss supplements market.
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Major Five Weight Loss Supplement Companies:
Ajinomoto Co. Inc.
Ajinomoto Co. Inc. operates its business through segments such as Japan Food Products, International Food Products, Life Support, Healthcare, and Other. CAPSIATE GOLD is the key offering of the company. It is a bio-identical calorie-burning chili pepper supplement that is used as a weight management supplement.
Amway Corp. operates its business through segments such as Nutrition and wellness, Beauty and personal care, and Others. The company offers a wide range of weight management supplements, such as BodyKey by Nutrilite Shaker Cup, Nutrilite Carb Blocker, BodyKey Oolong Green Tea, and Nutrilite Lean Muscle.
Creative Bioscience LLC
Creative Bioscience LLC operates its business through the PRODUCTS segment. The company offers a wide range of diet drops and capsules for different diet plans such as Ketogenic Diet and Intermittent Fasting plan.
Glanbia Plc operates its business through segments such as Glanbia Performance Nutrition, Glanbia Nutritionals, and Glanbia Ireland. The company offers Prolibra Weight Management System, CapsiAtra, NutraSol Functional Protein Fortification Systems, and SatieTein for weight management.
GlaxoSmithKline Plc operates its business through segments such as Pharmaceuticals, Consumer healthcare, and Vaccines. The company offers alli, an FDA-approved weight loss product. It is sold as an OTC product and is approved for use by overweight adults in conjunction with a reduced-calorie and low-fat diet. alli helps people lose 50% more weight than weight loss through diet alone.
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Weight Loss Supplement Market Distribution Channel Outlook (Revenue, USD Billion, 2019-2024)
Weight Loss Supplement Market Regional Outlook (Revenue, USD Billion, 2019-2024)
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