A Multitude of Factors Such as Rising Global Obesity Rates, Growing Consumer Health Consciousness and a Surge in the Volume of Per Capita Health Supplement Consumption will Enable the Weight Loss And Diet Management Market to Grow During the Forecast Period of 2022-2027.

Weight Loss And Diet Management involve the use of various therapies and dietary modifications to enable patients suffering from obesity to gradually lose weight and prevent additional weight gain. Some of the most commonly used types of weight loss and diet management include fitness programs, dietary modifications, surgical procedures and prescription drugs. Additionally, the surge in the number of elective surgical procedures after the COVID-19 pandemic has provided the market with the necessary stimulus, allowing it to grow at a CAGR of 7.2% from 2022 to 2027 to garner a market size equivalent to $291.6 billion in 2027.

Weight Loss And Diet Management Market Drivers

The Surge in Obesity Rates in both Developed, as well as Major Developing Regions, has Aided the Growth of the Market.

The United Nations (UN) estimates that there are approximately 650 million people over the age of 18 suffering from obesity in 2021. The total global population suffering from obesity is estimated to rise to more than 1 billion by 2030. Such rapid growth in the prevalence of obesity is driving the adoption of weight loss and diet management solutions as obesity is a major risk factor for chronic conditions such as hypertension, high blood sugar, high cholesterol, coronary artery disease, stroke and gall bladder disease.

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The Rise in the Volume of Elective Surgical Procedures after the COVID-19 pandemic has been a Key Market Driver.

As per reports from Stanford Medicine, the non-essential surgery rates in the U.S. rebounded swiftly after the initial shutdown caused by the COVID-19 pandemic, even though surgical volumes witnessed a decline by approximately 48% during the initial seven weeks of the pandemic. The rebound in the volume of non-elective surgical procedures has increased the demand for procedures such as Biliopancreatic Diversion Surgery, Gastric Bypass Surgery, Gastric Sleeve Surgery and Adjustable Gastric Band Surgery, thereby contributing to the growth of the market.

Acquisitions and Collaboration

In October 2020, Kainos Capital announced that it will be acquiring Nutrisystem, a premier direct-to-consumer nutrition and weight management company from Tivity Health. Kainos Capital is a private equity firm that primarily invests in the food and consumer sector.

The Major Companies in The Market Include

The Major Companies in the Weight Loss & Diet Management market include Kellogg Company, Atkins Nutritionals, Inc., Herbalife Ltd, NutriSystems, Inc., Johnson Health Technology Co., Ltd, Ethicon, Inc., Weight Watchers International, Inc., VLCC Healthcare Ltd., eDiets.com, Olympus Corporation.

Consumer health consciousness has witnessed substantial growth after the COVID-19 pandemic. This has directly contributed to a rise in awareness regarding the adverse effects of obesity and the various solutions available in the market for combating the condition, thereby resulting in a rise in the adoption of weight loss supplements, fitness programs and low-calorie diet plans.