The global fat burn supplement market is expected to register a CAGR of about 7.0% during 2018-2023 (the forecast period). The market is highly competitive, especially in the developed economies, like Europe and North America. Also, the market is expected to witness a strong growth in the developing economies of Asia-Pacific.
Fat burn supplements are one of the popular categories of nutrition supplements, owing to their benefits in health, performance, weight-loss management, or the combination of these factors. Basically, these supplements increase the fat metabolism or energy expenditure, and fat oxidation during exercises/workouts. The products are made out of several ingredients or a combination of them. They give a sense of addiction to the consumers on consumption.
The major drivers of the fat burn supplement market include the rising awareness among people, regarding health concerns, and the growing preference for supplements, which are convenient to maintain fitness without any need for dietary meals or exercises. Companies are advertising fat burners with several claims, such as shedding of extra pounds, and other tag-lines that catches consumer attention and, in turn, driving the overall market for fat burn supplements.
The major challenge faced by the fat burn supplements market is the consumers perception regarding the side effects, associated with the ingredients that are undisclosed on labels.
By type, the fat burn supplement market can be segmented into liquid, powders, capsules, and ‘others’. The capsules segment of the market is expected to record a CAGR of about 6.1%, during 2018-2023 (the forecast period). The delivery systems are designed to allow each supplements’ active ingredient to be presented to the body in consumable form so that they release and get easily absorbed in the body. These types deliver the same nutrients, but differ in the function or the path they take to deliver the nutrient in the body. By end-user, the market can be segmented into men and women.
The North American fat burn supplement market, with a share of about 35%, is expected to register a CAGR of 5.23% during 2018-2023 (the forecast period). Mexico holds the largest market share of about 38% in North America. Asia-Pacific is anticipated to witness a strong growth rate in the upcoming years, due to growing demand for weight management products and improving economic stability, coupled with the rising disposable income. The other regions, such as Africa and South America, offer great potentials for manufacturers to expand their business in the fat burn supplement market, owing to growing demands for dietary supplement products.
2017- Amway opened a USD 2.5 million worth business center in L.A. after its success in New York. The center includes retail component where the company products, such as Nutrilite supplements and Artistry cosmetics, are sold. The company expects the new facility to attract distributors from across the west coast region.
The key players of global fat burn supplements market includes Amway, Hi-Tech Pharmaceuticals, Aps Nutrition, Nutrex, Nutrakey, Omniactive Health Technologies and Puritan's Pride amongst others.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
4. Market Dynamics
4.1.1 Rising Awareness regarding the Health Benefits of Fat Burn Supplements
4.1.2 Rising Penetration of Private Labels for Dietary Supplement Products
4.2.1 Controversies Associated with Health threats caused by fat burner supplements
4.2.2 Stringent Regulations
4.3.1 Innovations in Ingredient Development and Improvement in Product Image
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.2 By End User
5.3 By Geography
5.3.1 North America
5.3.4 South America
6. Competitive Landscape
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles
7.3 Puritan's Pride
7.5 OmniActive Health Technologies
7.8 Hi-Tech Pharmaceuticals
7.9 APS Nutrition