Dietary supplements, in the form of tablets, capsules, softgels, powder, and liquid, that aid in reducing body weight, are referred to as weight loss products or supplements. The global weight loss supplements market is expected to garner a revenue of USD 40 Billion by 2024 and register a CAGR of 5.5% during the forecast period of 2019 to 2024. The market is expected to become lucrative over the years to come owing to the increasing trend of fitness among the population, especially those of the age group of 25 and above, as a part of overall personality development. Rising focus of a section of the youth on their body weight is expected to render profitable opportunities to the market players during the forecast period. Additionally, increasing research and development investments, by the manufacturers of weight loss & diet management products, to cater to the changing consumer needs are helping the growth of the global weight loss supplements market.
The global weight loss supplements market has been segmented on the basis of form and distribution channel.
Based on form, the global weight loss supplements market has been divided into tablets, capsules, & softgels, powder, and liquid. The tablets, capsules, & softgels segment is expected to gain the largest revenue share during the review period owing to the easy availability of weight loss supplements in the form of capsules, tablets, & softgels. During the forecast period 2019–2024, the tablets, capsules, & softgels segment is expected to register the highest growth rate due to the low storage cost incurred, ease of transportation, high availability, and high shelf life of such supplements.
Key Players
Some of the key players in the global weight loss supplements market are Iovate Health Sciences International Inc. (Canada), Amway (US), GlaxoSmithKline plc (UK), Herbalife International of America, Inc. (US), Shaklee Corporation (US), Glanbia plc (Ireland), Abbott (US), General Nutrition Centers, Inc. (US), Ultimate Life Ltd. (UK), Vitaco (New Zealand), Wolfson Berg Limited (Cyprus), ABH Pharma Inc. (US), Transparent Labs (US), Dub Nutrition (US), EuroPharma USA (US), and Nutratech Ltd (New Zealand).
Some of the strategies followed by the players operating in the market were product launches, mergers, agreements, and joint ventures.
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