Weight management: Key market research findings
- The Americas dominate the market geographically
- Diet segment is the dominant shareholder in the market
- Key vendors – Abbott Nutrition, Danone, Nestlé, PepsiCo, Lovate Health Sciences, Brunswick, Johnson Health, Kellogg, Gold’s Gym, and Weight Watchers
Technavio’s market research analysts expect the global weight management market to grow at a CAGR of around more than 5% between 2016 and 2020. The market is driven primarily by the diminished flavor low-calorie foods and beverages. Low-calorie foods and drinks make use of artificial sweeteners such as aspartame and saccharin in place of regular ingredients. They contain low sodium and sugar, resulting in a new flavor that is different from the original foods and beverages. This results in the limited consumption of low-calorie foods as customers feel the new product is not at par with their high-calorie counterparts. During 2015, the Americas occupied more than 40% of the market share to dominate the global weight management market. Increased awareness, high disposable income, and increased incidences of age-related health conditions are stimulating a growing demand for weight management products in this region.
The new market research report from Technavio presents a breakdown and analysis of weight management segments based on the product.
“An upsurge in the demand for natural sweeteners is the latest trend in the global weight management market. Marketers have started creating healthier substitutes for sugar and artificial sweeteners to meet the rising demand for low-calorie foods and beverages to prevent obesity, diabetes, and other lifestyle diseases. These substitutes are produced naturally from plants. For instance, Stevia is a plant-based sweetener with robust sales,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
In 2015, the diet segment led the global weight management market by accounting for around 45% of the market share. The diet segment consists of meal replacement products, low-calorie foods and beverages, weight loss supplements, and other products such as low-calorie sweetener, slimming water, and herbal tea or green tea. The increase in the number of weight-conscious people and the growing preference for on-the-go products is likely to boost growth in this segment of the market during the forecast period.
The key vendors in the global weight management market include Abbott Nutrition, Danone, Nestlé, PepsiCo, Lovate Health Sciences, Brunswick, Johnson Health, Kellogg, Gold’s Gym, and Weight Watchers. This market is characterized by the presence of diverse international and regional vendors. The key players in the market are extending their market presence in fast-developing APAC countries such as India, Vietnam, Indonesia, and Malaysia as these countries offer lucrative market opportunities. Competition in this market is expected to intensify during the forecast period with an increase in product and service extensions, product innovations, and M&A.
A more detailed analysis is available in the Technavio report, Global Weight Management Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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