Major players in the weight loss services market are Herbalife Nutrition Ltd., Kellogg Company, NutriSystem Inc., Nu Skin Enterprises, Atkins Nutritionals Inc., Brunswick Corporation, Gold’s Gym International Inc., Jenny Craig Inc., Covidien, eDiets.com Inc., WW International Inc., Apollo Endosurgery Inc., Abbott Laboratories, Cargill Incorporated, General Mills Inc., and Ingredion Incorporated.
The global weight loss services market is expected to grow from $14.46 billion in 2022 to $15.76 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The weight loss services market is expected to grow to $21.80 billion in 2027 at a CAGR of 8.4%.
The weight loss services market includes revenues earned by entities by providing weight loss services such as gym, club facilities, aerobic centers, yoga centers, endurance exercises.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Weight loss services refer to services required to reduce body weight, maintain lower body weight over the long term, and prevent further weight gain. These services provide numerous health benefits, including lower blood pressure, cholesterol, and blood sugar levels.
North America was the largest region in the weight loss services market in 2022. The regions covered in the weight loss services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of weight loss services are slimming centers, fitness centers, consulting services and weight loss programs.The fitness center is a type of health, recreational, and social facility geared towards exercise, sports, and other physical activities.
The equipment includes fitness and surgical equipment. The diet includes meals and beverages with various medications such as drugs and supplements.
The rising aging population is expected to propel the growth of the weight loss services market going forward.The aging population refers to an increase in the proportion of elderly people due to changes in the age structure of a population.
Weight loss services help the aging population who are obese and have a high prevalence of being overweight due to age-related changes in body composition, which include a progressive rise in fat mass and a reduction in lean mass and bone density. For instance, according to the United Nations Department of Economic and Social Affairs’ September 2020 report, the population aged 65 and above is projected to rise from 9.3% in 2020 to around 16.0% in 2050. Furthermore, according to October 2021 published factsheet by World Health Organization, there will be 1.4 billion individuals over the age of 60 in the world by 2030, up from 1 billion in 2020. Therefore, the rise in the aging population is driving the growth of the weight loss services market.
Technological advancements are a key trend gaining popularity in the weight loss services market.Major companies in the weight loss products and services market are using advanced technologies to sustain their position in the market.
For instance, in February 2021, Performance Health Systems, a US-based company operating in weight loss services, launched the Personal Power Plate with its whole-body vibration technology.The unique features of the new technology are that it delivers faster and more effective results for all fitness levels, regardless of physical limitations.
Additionally, squats, planks, lunges, and other exercises are performed on the vibrating power plate to help attain the fitness objectives more quickly and efficiently than with only traditional training.
In January 2020, Providence Health & Services, a US-based non-profit, Catholic healthcare system acquired HMR Weight Management Services Corp for an undisclosed amount.Through this acquisition, the non-profit health organization can improve the health and well-being of patients and communities.
Health Management Resources is a US-based company that offers weight management programs.
The countries covered in the weight loss services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The weight loss services market research report is one of a series of new reports that provides weight loss services market statistics, including weight loss services industry global market size, regional shares, competitors with a weight loss services market share, detailed weight loss services market segments, market trends and opportunities, and any further data you may need to thrive in the weight loss services industry. This weight loss services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.