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The market is segmented by Product Type, Mode of Consumption and Geography
Fastest Growing Market:
The rising prevalence of an increasingly sedentary lifestyle, coupled with dramatically changing diet patterns, particularly in Western countries, has majorly contributed to the growth of obesity. The overweight and obese population report a high prevalence of chronic diseases, including hypertension, diabetes, and orthopedic diseases. For instance, as per the OECD data, 47% of the adult population in the United States may suffer from obesity by 2030, as compared to 37.7% in 2014. This represents an estimated 25% increase in obesity, by 2030. Furthermore, changing lifestyle and growing fast food industry and the launch of new and advanced products are also boosting the market growth globally. However, the availability of counterfeit products, lack of awareness among people, the high cost of the products are the few factors which might hamper the growth of the market. According to USFDA, 776 dietary supplement products from 146 different manufacturers sold between 2007 and 2016 contained synthetic/prescription drugs. Most of these products are marketed for just two conditions, sexual enhancement (45.5 percent) or weight loss (40.9 percent). Most recently, on Nov. 30, 2018, the FDA advised consumers not to purchase a product called Willy Go Wild, available online and in some retail stores because the product includes hidden prescription drugs.
Slimming aids are the dietary supplements which are intended to help an individual in losing weight and to manage weight. Slimming aids are of various types based on their ingredients and consumption method. Some of the popular types of slimming aids are dietary pills, special tees, weight-loss powders, etc. Many of these products are not pharmaceutical agents, therefore pharmacists, doctors, other healthcare professionals, and even obesity specialists know little about them, yet their usage is widespread.
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Various types of slimming aids are available in the market. Among those Natural supplements or herbal supplements for weight reduction are widely used by the patients. These natural products are effective and safe on body weight management in both human and animal studies. Further studies need to be conducted to investigate the mechanism of action, metabolism, long term safety and side effect of these natural products, as well as interactions between these natural products with dietary components. The potential for natural products as sources of nutraceuticals or drugs to manage body weight is now being realized which including catechins, capsaicin, conjugated linoleic acid, fucoxanthin, soy isoflavone, glabridin, astaxanthin, and cyaniding-3-glucoside, etc. They are also sometimes referred as phytomedicines and botanicals. Though these products are obtained naturally and are claimed safer, they do have their drawbacks such as allergic to the patients, adverse effects from the usage, producing unsatisfied results, etc.
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Obesity has continued to be more prevalent within North America. While two out of every three American men are overweight or obese, these rates, in the case of women, are far higher. The United States contains one of the highest percentages of obese people in the world. An obese person in America incurs an average of USD 1,429 more in medical expenses, annually. As per CMS (Centers for Medicare and Medicaid Services), approximately USD 147 billion is spent in added medical expenses per year within the United States. This number is suspected to increase approximately to USD 1.24 billion per year, until 2030. According to the NCHS (National Center for Health Statistics), around 36% of the adult population and 17% of the youth population were diagnosed with obesity during 2011–2014, in the United States. This rising pace of obesity and chronic diseases is making it necessary to advocate weight loss programs and obesity management. The rise in health concerns, high income, and technological advancements are driving the expansion of the market. Moreover, people are also inclining toward low-calorie foods and the consumption of supplements, along with exercises are contributing to drive slimming aids market in North America.
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The Slimming Aids market is highly competitive, price-sensitive, and growing, due to greater adoption from smaller and medium-sized market players. The market concentration ratio is expected to increase in emerging markets, like APAC and Latin America, offering growth opportunities for smaller companies.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Rate of Obesity
4.2.2 Changing Lifestyle and Growing Fast Food Industry
4.2.3 Launch of New and Advanced Products
4.3 Market Restraints
4.3.1 Deceptive Marketing Practices
4.3.2 Precence of Couterfeit Products
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Mode of Consumption
5.2 By Product Type
5.2.3 Semi Synthetic
5.3.1 North America
18.104.22.168 Rest of Europe
5.3.3 Asia Pacific
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Creative Bioscience
6.1.4 GlaxoSmithKline plc
6.1.6 Iovate Health Sciences
6.1.7 Nestle SA
6.1.8 Himalaya Wellness
6.1.9 Sanat Products Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments