Weight Loss Supplements Global Market Report 2023

Weight loss supplements market global report 2023

In the last years, obesity has become a global public health concern. The growing number of overweight and obese population is driving the growth of the weight loss supplements market.

According to the World Health Organization (WHO), over 1 billion people globally are obese (2022), including 650 million adults, 340 million adolescents and 39 million children.

 

The global market of weight loss supplements grew from $34.5 billion in 2022 to $39.18 billion in 2023, at a compound annual growth rate (CAGR) of 13.6% and is expected to grow to $65.16 billion in 2027, at a CAGR of 13.6%.

Weight loss supplements are dietary supplements that help with weight loss by inhibiting the absorbtion of fat or carbs, supressing hunger or boosting metabolism and thermogenesis (fat burning).

The weight loss supplements market consists mainly of chromium picolinate, glucomannan, and conjugated linoleic acid (CLA).

They are available in forms that include liquid, powder, softgels, pills, and other types.

Weight loss supplements are distributed through offline and online channels, and are used by age groups ranging from under 18 years, 18 to 40 years, 40 to 50 years, and above 50 years.

 

The major players in the weight loss supplements market are Glanbia PLC, GlaxoSmithKline PLC, Herbalife Nutrition Ltd., Abbott, Kellogg Company, Nestle, Kraft Heinz Company, Amway Corp, Ajinomoto Co Inc., Nutratech Ltd.

These companies are focused on developing innovative weight loss supplements to strengthen their position in the market.

Asia-Pacific was the largest region in the weight loss supplements market in 2022. It is also expected to be the fastest-growing region in the mentioned period.

 

Nature’s Formulas, a US-based supplement company has developed BioFit – an innovative, industry-leading probiotic weight loss supplement which contains natural ingredients.

BioFit includes natural ingredients and 800 milligrams of microbes which can survive harsh stomach acids to quickly improve digestion, speed up fat loss, and increase energy. This product may help consumers lose body weight without following strict diet plans, exercise, or other weight loss treatments.

 

Biofit Probiotic Pills
Biofit Probiotic Pills

 

 

 

In January 2022, Solace Nutrition – a US-based medical nutrition company – bought R-Kane Nutritionals, to enhance its growth while providing a presence in an adjacent nutrition market. R-Kane Nutritionals is an American company specialized in high protein meal replacement products for weight management.

 

Read the full report here.

Article source: Yahoo Finance 

 

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