Market Highlights
The MRFR report suggests that the global market for weight loss supplements is estimated to cross a valuation of approximately USD 40 billion by the end of 2024. The report further states that the market is projected to exhibit a healthy CAGR of approximately 5.5% during the assessment era.
The global market for weight loss supplements has recorded praiseworthy growth in the past few years. The growth of the weight loss supplements market is primarily being driven by the growing number of people suffering from obesity. Furthermore, the growing awareness regarding a healthy lifestyle is projected to boost the market’s growth over the assessment period. Moreover, the factors such as the increase in per capita disposable income and the rising concerns regarding weight disorders are also anticipated to catalyze the growth of the weight loss supplements market over the coming years. However, the growth of the weight loss supplements market is anticipated to be impeded by the side effects associated with these supplements.
Competitive Analysis
The global market for weight loss supplements has an intensely competitive landscape. The players across the global market are adopting various policies and strategies such as product launches, partnerships, etc. the prime players across the market are focusing on developing innovative products to fulfill the growing demand for these products worldwide. The list of leading players in the global weight loss supplements market includes SHAKLEE CORPORATION (US), VITACO (NEW ZEALAND), ABBOTT (US), IOVATE HEALTH SCIENCES INTERNATIONAL INC. (CANADA), GLAXOSMITHKLINE PLC (UK), WOLFSON BERG LIMITED (CYPRUS), ABH PHARMA INC. (US), TRANSPARENT LABS (US), GENERAL NUTRITION CENTERS, INC. (US), GLANBIA PLC (IRELAND), HERBALIFE INTERNATIONAL OF AMERICA, INC. (US), AMWAY (US), ULTIMATE LIFE LTD. (UK), DUB NUTRITION (US), EUROPHARMA USA (US), NUTRATECH LTD (NEW ZEALAND), and several others.
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Segment Analysis
The global market for weight loss supplements has been fragmented into various segments based on distribution channel, form, and region.
Based on form, the global market for weight loss supplements is divided into liquids, powders, soft gels, capsules, and tablets.
The global weight loss supplements market is split into non-store-based and store-based based on the distribution channel.
Regional Analysis
The global weight loss supplements market is studied across five major regions: Europe, Asia-Pacific, North America, South America, and the Middle East & Africa.
The MRFR report suggests that the North American region is anticipated to secure the top position in the global market for weight loss supplements over the assessment era. The regional market’s growth is being driven by the presence of prime players across the region. Furthermore, the launch of the latest innovative products equipped with high-end technology is also anticipated to boost the regional market’s growth. The regions such as Mexico, Canada, and the USA contribute to boosting the regional market’s growth over the assessment period.
The Asia-Pacific regional market for weight loss supplements is projected to register substantial growth over the forecasted era. The growing awareness about health is driving the regional market’s growth among the population across the region. Developing countries such as China, India, and Japan are projected to be the leading market globally over the coming years.
The European regional market will witness significant growth over the assessment era.
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Recent Developments
- February 2022 – Healthier Choices Management Corp. (HCMC) has announced that it has acquired an organic and natural health food and vitamin chain, Mother Earth’s Storehouse, based in New York’s Hudson Valley. Mother Earth’s stores have earlier received best in the Hudson Valley by Hudson Valley Magazine. Both stores provide organic and vitamins and all-natural products from local sources. The Kingston location also provides Mother Earth’s Café and Deli and an onsite bakery. The CEO of HCMC, Jeffrey Holman, said that Mother Earth’s Storehouse is a crucial step forward in the company’s growth initiatives. The company officials believe that this step should nearly double HCMC’s top-line revenue on an annualized base based on past performance. NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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