Obesity is a chronic medical condition characterized by excessive accumulation and storage of fats in body. Obesity is measured by BMI (body mass index). People are considered to be obese if the BMI is above the range of 25-30 kg/m2. Obesity affects not only appearance but also develops chronic diseases. Obesity is a leading preventable cause of reducing life expectancy worldwide, with increasing rates in women compared to men. Nowadays, obesity has become common in children as well, which is observed by authorities as one of the most serious public health problems of the 21st century. Obesity occurs due to intake of too many calories in a short span of time, high consumption of unhygienic junk foods, lack of physical activity, slow metabolism or genetic inheritance. Rising prevalence of obese people globally is leading to numerous diseases such as cardiovascular diseases, type 2 diabetes, obstructive sleep apnea, certain types of cancer, osteoarthritis and depression, high blood pressure, etc. Treatment of such diseases is quite expensive, hence rising pace of obesity and chronic diseases are major factors driving growth of the global weight loss and obesity management market. Other factors include rising disposable incomes and advancement in technologies which has reduced physical activity of individual. Furthermore, strong initiatives by government and non-profit organizations to increase funds and awareness about health and fitness are driving the demand for food, beverages and supplements and promoting growth of this market. Global weight loss and obesity management market is expected to reach US$XXX.X billion by 2026 from US$XXX.X billion in 2017, at a CAGR of X.X% during the forecast period. On the other hand, the high cost of the obesity and post obesity programs, high cost of low-calorie diets and deceptive marketing strategies adopted by industry players are some restraints of the global weight loss & obesity management market.
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North America has highest prevalence of obesity followed by India and China. Besides, Japan and Australia also have high prevalence of obesity. Thus, Asia Pacific, a relatively untapped market, provides an array of growth opportunities for the global weight loss and weight management market. Large population base coupled with rising prevalence of obesity, rapid urbanization, increasing disposable incomes, and growing awareness and health consciousness among citizens are the factors responsible for further opportunities and growth of this market
The global weight loss and obesity management market is highly fragmented with many key players operating in local regions. To boost revenues and grasp a strong consumer base in market, key players have adopted various strategies such as new product launches, expansions, agreements, partnerships, acquisitions, and others. In addition, to reduce manufacturing and distribution costs, players are building manufacturing companies and strengthening their sales force in developing economies.
Key players operating in the global weight loss and obesity management market: are Ajinomoto Co. Inc., Herbalife Ltd., Nestle SA, Pepsico Inc., Johnson Health Tech Co. Ltd., The Coca-Cola Co., Nutrisystem Inc., Mayo Clinic, Zafgen, Weight Watchers International, Inc., Jenny Craig, eDiets, VLCC Healthcare Ltd, Slimming World, Duke Diet & Fitness Center, 24 hours Fitness, Equinox, Inc., Life Time Fitness, Inc, Fitness First Group, Town Sports International Holdings, Inc., Abbott Nutrition, GSK, Roche, Atkins Nutritionals, Brunswick, Kellogg, Merck, McNeil Nutritionals, Reebok, Unilever, Precor Inc, Ethicon Endo-surgery Inc, Allergan Inc and others.
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