Obesity Management Market Forecast (2022-2027)
Obesity Management Market Size is estimated to reach $59 billion by 2027 and is poised to grow at a CAGR of 4.8% over the forecast period of 2022-2027. Obesity management is the practice to maintain a healthy weight using lifestyle changes, medication, or surgery. Owing to a sedentary lifestyle and consumption of unhealthy food, people become more obese. Increased obesity leads to high risk of cardiovascular disease, diabetes, cancer, and musculoskeletal disorders, resulting in approximately 3 million deaths worldwide each year, as per a research paper published in National Center for Biotechnology Information (NCBI). Such alarming mortality rate and risk of various chronic diseases are a growth driving factor for Obesity Management Market size. According to International Diabetics Federation (IDF), 1 billion people globally will be living with obesity by 2030, including 1 in 5 women and 1 in 7 men, hence enhancing the market expansion.
Obesity management is a broadways technique, it includes surgeries like duodenal switch surgery, gastric bypass surgery, use of medications like lorcaserin, orlistat, and naltrexone. Also, fitness equipment like treadmill, elliptical, stair steppers, and diets such as specialized meals, beverages, and supplements are used to reduce and maintain weight. Owing to the growing prevalence of obesity and inclination toward weight management further drives obesity management industry. Additionally, various new products launched in the market, expansion, acquisition, and growing expenditure on research and developments by key market players assist the growth of obesity management industry. For instance, In April 2022, Atkins, a nutritional snacking brand that is part of The Simply Good Foods Company launched ready-to-drink shakes in a Tetra Pak® carton that uses 78 percent renewable, plant-based materials. Such increasing concern about weight management and growing demand for products fuel the growth of the Obesity Management Industry over the forecast period 2022-2027.
Obesity Management Market Report Coverage
The report: “Obesity Management Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments in the Obesity Management Market.
Key Takeaways
- Geographically, North America held a dominant market share in the year 2021, owing to the increasing number of obesity and chronic disease along with growing awareness about risk factors related to obesity assist growth of the Obesity Management Market Size in this region.
- The Obesity Management Market is predicted to grow owing to the increasing prevalence of obesity and rising risk of obesity related disease. However, the high price of a low-calorie diet and the risk of infection after surgery may limit market growth over the forecast period 2022-2027.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Obesity Management Market Report.
Obesity Management Market Segment Analysis- By Diet
The Obesity Management Market based on diet can be further segmented into Meals (Meal Replacements, Low-calorie sweeteners, Low-calorie Food, Organic Food), Beverages (Diet Soft Drinks, Herbal Tea, Slimming Water, Other Low- calorie beverages), Supplements (Protein, Fiber, Green Tea Extract, Conjugated Linolenic Acid), and Others. The Beverages segment held a dominant market share in the year 2021. This is owing to the surge in demand for functional beverages owing to it’s beneficial properties in various chronic disease and help to loose weight. Consumption of beverages like Celsius which contain green tea leaf extract, guarana, and ginger roots helps to reduce weight. In May 2021, Nutrixin introduced dairy-free coca beverages for heart health. Besides its cardiovascular protection effect, the product is also 20% lower in fat, 25% lower in sodium, 90% lower in sugar, 35% higher in protein and 350% higher in dietary fiber compared to other cocoa beverages in the market. Owing to such properties of functional beverages and its high demand in the market assist the growth of the Obesity Management Market Share.
However, Meal is estimated to grow with the fastest CAGR rate of 5.2% over the forecast period 2022-2027. A person who wants to reduce weight is more conscious about their diet and calorie intake. People who have undergone bariatric surgeries such as gastric bypass surgery, Duodenal Switch Surgery, and others; or taking medicines like Lorcaserin, Orlistat, Naltrexone, and others get advise to take a specialized diet. As per the International Federation for the Surgery of Obesity and Metabolic Disorders (IFSO) report published in 2019, the number of bariatric procedure performed in India were 20,857. As per the 2018 and 2017 IFSO report, the number of procedures performed stood at 15,308 and 12,480, respectively. Such an increasing number of bariatric surgeries in past years and its steady growth create demand for specialized meal and this propels the growth of the Obesity Management Market share over the forecast period 2022-2027.
Obesity Management Market Segment Analysis- By Service
Obesity Management Market based on service can be further segmented into Fitness Centers, Slimming Centers, Consulting Services, and Online Weight Loss Programs. The Fitness Centers segment held a dominant market share in the year 2021. This is result of the growing awareness among peoples especially adults about a healthy lifestyle. According to fitness industry review, the world approximately holds over 2,00,000 health and fitness clubs with the United States, Germany, and the United Kingdom having the highest number of fitness club memberships in the year 2020. Such an increasing trend of fitness and growing number of fitness centers around the world fuel growth of the Obesity Management Market Share.
However, Online Weight Loss Program is estimated to grow with the fastest CAGR rate of 5.7% over the forecast period 2022-2027. This is owing to the growing demand for online fitness centers and services after outbreak of COVID pandemic. It is found that the mortality rate in obese people is greater than normal peoples. As per research paper study from frontiers published in February 2021, mortality of patients with COVID-19 owing to obesity, and secondary outcomes were increased risk of mortality among class I, class II, and class III obesity. Hence, people are concerned about weight management and as result of COVID restrictions the demand for online fitness centers get hiked. Online fitness centers offer various plans with convenient time schedule. Owing to such attributes of online fitness centers growing rapidly and propel growth of the obesity management industry over the forecast period 2022-2027.
Obesity Management Market Segment Analysis- By Geography
The Obesity Management Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 40% in the year 2021. This is the result of increasing number of obese population and rising awareness about obesity related risk factors in this region. According to Trust for America’s Health in 16 states adult obesity rates are found above 35%. With a rate of 39.7%, Mississippi had the highest adult obesity rate in 2020, followed by West Virginia (39.1%) and Alabama (39%). According to World Health Organization (WHO), In 2019 obesity in the United States cost the healthcare system close to $173 billion annually. Such increasing prevalence of obesity in this region drive growth of Obesity Management Market Size in this region.
Furthermore, Asia-Pacific is estimated to grow with the fastest CAGR rate of 6.1% over the forecast period 2022-2022. This is owing to the increasing rate of overweight and obese population in this region. According to Asian Development Bank Institute (ADBI), two out of every five adults in the region are either overweight or obese and Pacific is the most overweight sub region in the world with an estimated number of 59% of adults being overweight and 20% being obese. Such increasing rate of obesity hikes the number of chronic disease such as cardiovascular disease, high blood pressure, diabetics, osteoarthritis and others in recent years. Such high rate of obesity in Asia-Pacific and increasing prevalence of chronic disease fuels growth of Obesity Management Market Size.
Obesity Management Market Drivers:
Increasing Rate of Obesity Helps to Drive Market Growth.
The increasing prevalence of obesity and obesity related chronic diseases such as diabetics, cardiovascular disease, high blood pressure, osteoporosis and others surge demand for obesity management practices. According to the recently released 2022 National Diabetes Statistics report by the Centers for Disease Control and Prevention (CDC), show that more than 130 million adults are living with diabetes or prediabetes in the United States, and the rate of obesity is above 35%. Osteoarthritis that is linked with obesity is caught to more than 350 million people globally and in the United States, 1 in 4 adults have arthritis in 2020. Such increasing prevalence of obesity and related disease creates awareness in consumers and drive Obesity Management Market Share.
Growing Bariatric Surgeries Enhances Industry Expansion.
Increasing awareness among people and high risk of obesity-related diseases are the main factors lead most of people towards surgeries. In 2019, about 256000 obesity surgery are performed, and in 2020 total of 198651 bariatric surgeries are performed, as per the American Society for Metabolic and Bariatric Surgery. The most common procedures in bariatric surgeries are gastric bypass surgery, sleeve gastrectomy, and duodenal switch surgery. Bariatric surgery is preferred as it has a high success rate and less than 5% need of readmission. Along with bariatric surgeries, people preferred medications to reduce weight by the use of drugs such as Lorcaserin, Orlistat, Naltrexone, and others. With the use of bariatric surgeries, 40 to 80% of weight can be reduced. Owing to such significantly observable weight loss and less invasive surgeries like Duodenal Switch Surgery there is high interest reported for bariatric surgeries. Such a growing number of bariatric surgeries propels the growth of the Obesity Management Market Share over the forecast period.
Obesity Management Market Challenges:
Increasing Stringent Regulation is Hampering Market Growth.
The person who wants to reduce weight prefer to take specific diet rather than a regular meal. With the increasing rate of obesity in population, most people are conscious about their calorie intake and prefer to take low-calorie diet. The price for specialized and functional food and beverages is high in market compared to regular as a result of the use of special ingredients and purposes make it premium. To validated properties of such products various regulatory bodies analyze the sample before it comes into the market. Any variation or compromise in quality of ingredients in such food leads to debar of complete product from market. For instance, in July 2022, Bumble Bee Foods recalled smoked clams after FDA testing found detectable levels of PFAS chemicals in samplings of the imported product. In June 2022, Built Brands recalled 4,196 individual bars of its “Banana Cream Pie Puffs” protein bar as risk of potentially pathogenic E. coli contamination. Such high regulations for supplement food may hamper market growth over the forecast period 2022-2027.
Obesity Management Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Obesity Management Market. The top 10 companies in the Obesity Management Market are:
- Atkins Nutritionals, Inc.
- Herbalife Ltd.
- Kellogg Company
- Ethicon, Inc.
- Allergan Inc
- Covidien, plc.
- Apollo Endosurgery
- Olympus Corporation
- Brunswick Corporation
- Johnson Health Technology, Ltd.
Recent Developments
- In June 2022, Kellogg announced plan of separation into three independent companies by spinning off its U.S., Canadian, and Caribbean cereal and plant-based businesses, which collectively represented approximately 20% of its net sales in 2021. "Global Snacking Co.", with about $11.4 billion* in net sales, will be a leading company in global snacking. "North America Cereal Co.", with about $2.4 billion* in net sales, will be a leading cereal company in the U.S., Canada, and Caribbean, and "Plant Co.", with about $340 million* in net sales, will be a leading, profitable, pure-play plant-based foods company.
- In February 2022, Herbalife Nutrition, a premier global nutrition company, announced the opening of 154,697 square foot Global Business Services Center, which houses technology, a contact center, creative services, an innovation center, a quality laboratory and a research and development facility, in Whitefield, a suburb of Bangalore, India.
- In February 2021, Allergan Inc and PatientFi started their initial phase of partnership. Company provides customize financing option for patient undergoing breast augmentation with Allergan Aesthetics Natrelle line of breast implant. Partnership with PatientFi made with vision of affordable aesthetic treatment with Allergan leading portfolio products and treatment.
Relevant Titles
Report Code: HCR 0844
Report Code: HCR 0627
Report Code: FBR 30004
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