Monday, 29 February 2016
Global Weight Management Market Marked by Shifting Sales Trends
The global weight management market is deeply impacted by the obesity epidemic. Obesity is among the most commonly stereotyped conditions and is often perceived negatively in Western nations. On the other hand, the weight management trend is now gaining prominence in Eastern countries too, due to people increasingly adopting Western lifestyle habits. The trends in the global weight management market are continuously shifting, which, in turn, is impacting sales in several segments. Let us look at the economic consequences of these shifting trends on the global weight management market.
Weight Management Services Gaining Prominence
By type, the global weight management market is segmented into weight management services, equipment and devices, food and beverages, and weight loss supplements/drugs. Although the equipment and devices held the largest share in the weight management market in 2010, the weight management services segment has been identified as the fastest-growing segment. The weight management services segment is projected to expand at a notable CAGR of 13.40% from 2010 to 2015, says Transparency Market Research (TMR).
Weight Loss Increasingly being Sought by Men
Generally, women’s beauty is associated with their slimness. For example, in France, women are more concerned about their physical appearance as compared to men and are more motivated to lose weight. However, the interest of men in weight loss products and services has been evolving in France. This can be attributed to the rising interest of men in maintaining a well-groomed and fit appearance. This trend will lead to a rise in purchases by male consumers in the overall weight management market.
U.S. Dominates Market, but Asia will continue to Gain Momentum
The U.S. has ruled the global weight management market and accounted for approximately one-third of sales. On the contrary, Asia Pacific has been the fastest-growing regional segment in the global weight management market. Prior to the economic recession of 2008-2009, the APAC market was led by countries such as China, South Korea, and Japan. However, in 2008, China and Japan witnessed a decline in sales after the economic recession, and growth was noted only in South Korea. Nevertheless, countries such as Malaysia, India, and Indonesia were able to offset this drop and drive sales in the APAC weight management market.
Although the global weight management market will be impacted by the aforesaid shifting trends, the overall market will continue to boom. According to TMR, the global weight management market will expand at a healthy CAGR of 9.40% between 2010 and 2015. In 2010, the market was estimated at US$385.1 bn and by the end of 2015, the market was projected to be worth US$650.9 bn.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/weight-management-market.htm
By keeping in mind these shifting trends, players in the global weight management market can alter their offerings. An alignment with consumer trends in different geographies will greatly help companies capitalize on these new opportunities. Presently, the global weight management market is dominated by companies such as Weight Watcher International, Herbalife, Talwalkars Better Value Fitness, E-Diets.com, Jenny Craig, SlimFast, Fortis Healthcare, and Atkins.