According to a recent report from Research and Markets, the global weight management and well-being product market was valued at $20.56 billion in 2019, and is expected to grow at a compound annual growth rate (CAGR) of 6.98% over the next five years.
This spike in weight management products is likely driven by more than 2 billion adults worldwide who are classified as overweight or obese. Today, obesity is on the rise in low- and middle-income countries as well as high-income ones, particularly in urban settings—and a lot of those people are ready and willing to address that weight gain. Because they're typically looking to adopt more convenient ways to manage their weight (owing to their hectic lifestyle), and due to the fact that these types of products are more accessible, demand for weight loss and wellness products has seen an increase overall.
The survey revealed that most people consume wellness products at least once in a day, and a considerable part of the population consumes weight management products twice a day. The U.S., China and Germany were found to be the top markets for weight management and well-being products, with the U.S. generating the highest revenue. More than 65% of total weight management and wellness sales comes from North America and the Asia Pacific.
