Increasing prevalence of obesity across developing countries is accelerating the growth of the weight loss diet products market

Weight loss diet products have been available in the market for many years. They come in various forms such as appetite suppressants, meal substitutes, and quick weight loss supplements. 

 

The growing obese population around the globe is driving the growth of the weight loss diet products market. According to the World Health Organization, in 2019, an estimated 38.2 million children under the age of 5 years were overweight or obese. Overweight and obesity are now on the rise in low- and middle-income countries, particularly in urban settings. Almost half of the children under 5 who were overweight or obese in 2019 lived in Asia. Moreover, the growing prevalence of various chronic diseases such as diabetes and cardiovascular diseases is again fostering the growth of the market. Changing eating habits coupled with the sedentary lifestyle is again increasing the cases of obesity which is further augmenting the growth of the weight loss diet products market.

From the geographical point of view, North America is projected to gain significant growth over the forecast period and this is attributed to the high burden of chronic disease coupled with the growing awareness regarding weight loss products. According to the National Health Council, chronic diseases affect around 133 million Americans, representing more than 40% of the total population of this country. By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions

Key Developments:

1. In December 2019, Ro, a direct-to-consumer virtual health company has announced the launch of a new product offering: Plenity aimed at helping patients shed the pounds. Ro, best-known for its online platform that specializes in men’s health, is now going to be offering Plenity, a new weight management product.

2. In January 2021, Neora, a provider of anti-aging skincare, hair care, and wellness products, has launched its new weight management and wellness system: NeoraFit.

3. In September 2020, General Mills Inc. has launched a new product line called Ratio that's targeted at the growing low-carb trend known as ketogenic (or keto) diets.

4. In February 2020, PLT Health Solutions has announced the launch of a water-dispersible form of its Slendacor Weight Management Complex ingredient.

5. In April 2018, Xyngular has announced the launch of a new weight loss system, Core, and enhanced versions of its popular Ignite and Ultimate weight loss systems