The weight loss supplement market share will post an incremental growth of USD 2,066.13 million, progressing at a CAGR of 6.75% during the forecast period. The growing healthcare expenditure will offer immense growth opportunities to market vendors. The weight loss supplement market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Browse Technavio's 159-page report and in-depth TOC on "Weight Loss Supplement Market by distribution channel (online stores and retail outlets), type (pills, powder, and liquid), and geography (North America, Europe, Asia, and Rest of World (ROW)." The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 4639.90 million.
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The weight loss supplement market is segmented by distribution channel (online stores, and retail outlets) and geography (APAC, Europe, MEA, North America, and South America).
The growth of the weight loss supplement market size in the online store segment will contribute to the highest incremental growth. Online stores are growing at a faster pace compared with retail outlets due to the increased preference for the sales channel among users.
Factors such as the rising awareness about the need for proactive personal healthcare practices and solutions will significantly influence the weight loss supplement market growth in APAC. 30% of the market’s growth will originate from APAC during the forecast period. China is an important market for weight loss supplements in APAC.
The growing healthcare expenditure will directly influence the sales of weight loss supplements. In addition, the rise in promotional and marketing activities is one of the major weight loss supplement market trends that will positively impact the market growth. However, factors such as the risk of side effects will hamper the weight loss supplement market growth.
The market is fragmented due to the presence of several players. Some of the major weight loss supplement market vendors are Ajinomoto Co. Inc., Amway Corp., Creative Bioscience LLC, Glanbia Plc, GlaxoSmithKline Plc, GNC Holdings Inc., Herbalife Nutrition Ltd., Iovate Health Sciences International Inc., Nestle Health Science S.A., and The Nature's Bounty Co.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the weight loss supplement market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the weight loss supplement market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the weight loss supplement market.
Weight loss supplement industry growth across APAC, Europe, MEA, North America, and South America.
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