Market Size of Europe Weight Management Supplement Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.68 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Weight Management Supplement Market Analysis
The European weight loss management market was valued at USD 3.65 billion for the current year and is projected to register a CAGR of 7.68% over the next five years.
- The market is primarily driven by factors such as rising incidence of obesity and chronic diseases, rising awareness about nutrition and healthy lifestyles, an increasing number of fitness centers, and rising disposable income across the region.
- For instance, according to the International Health, Racquet & Sportsclub Association (IHRSA) organization, the number of people with memberships to gyms in the United Kingdom saw an increase between 2020 and 2021. In 2021, over 9.57 million people had gym memberships in the United Kingdom.
- In addition, an increasing number of regional health and fitness clubs fueled the market's growth. In line with this, consumers are becoming more aware of weight loss and management products due to the regular protein supplement recommendations in fitness and sports clubs for mass gain, strength gain, and weight loss.
- Moreover, product innovations by leading players, such as herbal and organic slimming products with natural ingredients, are boosting the market's growth. Products with such claims are expected to attract health-conscious consumers, thus aiding the market's growth. Hence, manufacturers are also actively launching products with such claims.
- For instance, in November 2022, Figure launched capsules in the United Kingdom, claiming that they contain eight exotic herbs and nutrients specifically formulated to target brown fat tissue. The company claimed that it contains eight ingredients that are safe and effective to help regulate appetite and burn calories more efficiently than ever. Such factors are expected to rise and attract a new consumer base, thus affecting the growth of the market positively during the forecast period.
- However, the major factor restraining the growth of the market is the high cost of weight loss products, owing to the additional processing required for low-calorie products and additional nutrients, such as vitamins and minerals.
