The past decade has seen a steep consumer shift to westernized dietary habits, sedentary lifestyle, and insufficient time left for physical exercises to maintain fitness. However, consumers are largely preferring dietary supplements as non-prescription drugs that can fulfil the nutritional requirements of a body, providing long-term health benefits. Weight control supplements especially address obesity reduction and weight management. Obesity has been a major health issues all over the globe, which has in turn created a vast marketplace for weight control supplements.
Rising obesity and obesity-induced disease prevalence is the key driver primarily boosting the demand for dietary supplements targeting weight management. PMR examines the global weight control supplements market in detail and provides an extensive analysis of the global weight control supplements market over a six-year forecast period 2016-2026
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Global Weight Control Supplements Market: Drivers and Restraints
Exploding rate of obesity worldwide is primarily propelling the demand for weight management products, including weight control supplements. Rising awareness about co-morbid, lifestyle disorders induced by obesity is another key driver to market growth. With growing popularity of low-calorie food products, there has been a greater adoption rate of sugar-free foods and beverages, low-carb products, and other similar foods for weight management. This will continue to spur the demand over the forecast period.
Availability of a wide range of products for weight loss in the dietary supplements sector, coupled with increasing consumer preference toward easy, time-saving, non-invasive weight control measures, especially non-prescription drugs, will remain another prominent factor escalating the demand for weight control supplements. The expanding obese population is observed to spend more on a healthy and active lifestyle. The convenience of online purchase is also indirectly boosting the market for weight control supplements.
Affluent middle-class consumers are increasingly investing in nutritious products for fitness in the long run. Consistent R&D activities by leading dietary supplement brands has been leading introduction of better quality, improved products. In addition, companies are implementing innovative product promotion strategies, eventually pushing the market further. Government initiatives and awareness programs related to a healthy lifestyle are likely to favor the sales of weight control supplements in near future.
However, relatively lower awareness among consumers in emerging economies, about availability, functionality, and usage of dietary supplements, will remain a key factor hindering the market growth through 2026. Moreover, high prices of weight control supplements are also expected to hold a negative influence on market growth. Sustained preference to physical exercises over medicines will be another factor limiting mass adoption of weight loss supplements in near future.
Global Weight Control Supplements Market: Trends and Opportunities
Herbal supplements is a niche segment that is currently in a nascent phase. These supplements are currently gaining a moment in market, resulting in robust growth. Consumers are inclined more toward consuming naturally-sourced products, which is primarily driving the herbal supplements section of the market. Researchers and manufacturers are likely to concentrate more on developing herbal supplements in order to meet a paradigm shift in consumer buying decision.
Global Weight Control Supplements Market: Segment Analysis
The global weight control supplements market is segmented on the basis of distribution channel. The key segments include:
- Vitamin and health stores
- Drugstores
- Supermarkets
- Online retailing
- Others
Attributed to a growing number of retail drugstores and availability of a wide products range, drugstores segment is likely to maintain dominance in terms of weight control supplement sales. Vitamin and health stores are expected to be the second largest segment over the forecast period. Online retailing segment will however express a strong foothold within the next few years, attributed to round-the-clock availability of a number supplement selling websites and robust Internet penetration. The U.S. and China are identified to be the leading regions supporting substantial online sales of weight control supplements. This segment is anticipated to register an impressive CAGR over the forecast period.
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North America is currently the major market owing to significant adoption of weight loss supplements as meal replacers. Due to high consumer consciousness about obesity management, this region will sustain the weight control supplement sales. Developing markets, including APAC, Latin America, and Eastern Europe are identified to witness substantial growth, attributed to increasing awareness about obesity management and widespread availability of dietary supplements. Western Europe, though a mature market for dietary supplements, is projected for stable growth through to 2021.
Global Weight Control Supplements Market: Key Players
Key international players operating in the global weight control supplements market include Amway Corp, Herballife Ltd., Pfizer Consumer Healthcare Inc., Nature’s Bounty Inc. (NBTY), General Nutrition Centers Inc., New Era Health Industry Co. Ltd., McNeil Consumer & Specialty Pharmaceuticals, Joincare Pharmaceutical Group Ind. Co., and Walgreen Co.