Weight Management Market in Play
With rapidly increasing obesity rates, this global phenomenon can be controlled with considerable measures. This can be done partly by the Weight Management Services (a subsector of the global weight Management market). The weight management market helps the overweight and obese population in handling their BMI factor with appropriate measures in order to lead a balanced and content life. This industry has come into focus due to various innovative health programs and products promising weight loss and other health awareness activities. As the problem of obesity grows amongst the population, so does the weight loss market. This has resulted in a steady shift from short-term weight loss products towards programs offering long-term sustainable weight management solutions.
Ranging from calorie counting, snacks, weight loss retreats, protein shakes, and fitness regimes, to weight management solutions such as products that help you feel fuller for long durations; the choices in the weight management market are endless. A market full of such options leaves us with positive news that there is abundant awareness of a broad range of diet programs to treat obesity.
The enormous customer base along with the intensity of the condition signifies a vast market for weight management. The consecutive paragraph discusses some of the noteworthy key drivers impacting the future growth of the weight management market.
Growth Enhancers for the Weight Management Market
The market now has a variety of healthcare programs with innovations in the area of weight management ingredients that offers a broad range of beneficial weight management solutions to consumers worldwide. This is majorly helping to propel the industry forward. With major technological advancements and government initiatives to increase awareness about health and fitness among population belonging to different age groups, this industry is an opportunity to not only the overweight people, but also the health conscious individuals. In order to change the mindset of the people, reduce the medical costs, and enhance the overall quality of living, the industry observes a rapid momentum in the health reforms initiated by different governments belonging to the developed and emerging nations.
Projected Performance of the Weight Management Market
By 2015, the weight management market is expected to reach a USD 650 billion mark. As of 2010, the market was estimated to be USD 385.1 billion, but is further expected to reach USD 650.9 billion in 2015 growing at a CAGR of 9.4% over the period 2010 to 2015.
Despite the forecasted growth and market size, the apparent thought that comes to our minds is to have the weight management market to be much bigger in size considering obesity to be a widespread and severe health condition. Nonetheless, there are many limiting factors affecting the market, which primarily include loss of consumer confidence, high cost of customized services, low-cost alternatives, natural weight loss techniques, and deceptive marketing strategies.
But, as literacy on good health and fitness grows, more and more people are taking the efforts of changing their lifestyles in the hope of improving fitness and lowering their weight problems. Such consumers are mainly found in the largest weight management markets including, Japan, Asia-Pacific, Europe, and the U.S., especially, the North America –the current leader in terms of global market share and growth in this industry.
Obesity: A Brief Overview
Obesity has become a global health concern in the present times and this has in many ways spurred the weight management market. Weight gains and obesity have reached the level of an epidemic. They have always been major concerns regarding the fitness and health among the aged generation, as well as children. The World Health Organization (WHO) globally registers more than 1.4 billion people as overweight, whereas, obese adults are aged 20 years or older. Moreover, in the United States, around 12% of children aged 2 to 5 and 18% aged 6 to 11 fall into the category of obesity and fatness.