Global Slimming Aids Market Size

Slimming Aids Market Analysis

The Slimming Aids Market is expected to witness a CAGR of 8% during the forecast period.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients to significant risks. It was observed that obesity had increased exponentially during the pandemic situation. According to the article published in the Diabetes Obesity and Metabolism in August 2021 titled "A global country-level analysis of the relationship between obesity and COVID-19 cases and mortality" obesity prevalence is a significant and potentially modifiable risk factor for increased COVID-19 national caseload and mortality. This impacted the market growth. However, with the release of COVID-19 restrictions, and resuming treatment and service, the demand for slimming products is expected to increase which in turn is anticipated to boost the market growth over the forecast period.

Certain factors that are propelling the market growth are the increasing rate of obesity, changing lifestyles, and the growing fast food industry, as well as the launch of new and advanced products.

The incidence of obesity has been increasing fiercely over the past decades, and it is often described as a global endemic, especially in developed countries where lifestyle-related disorders, such as anxiety, stress, smoking, and drinking, are more prevalent. For instance, according to the Eurostat report published in July 2021, it has been observed that more than half of the population (53%) were overweight (36% pre-obese and 17% obese) in Europe, in 2020. In addition, as per the same source, the lowest share was recorded among those aged 18 to 24 (25%), while those aged 65 to 74 had the highest share (66%). Thus, the high burden of the obese population is expected to increase the demand for a variety of slimming aids that helps them in reducing weight safely and quickly, thereby propelling the market growth.

In addition, the changing lifestyle and growing fast food or processed food industry are also expected to increase the market growth. For instance, according to a report published by the United States Department of Agriculture Foreign Agricultural Service, in April 2022, titled 'Food Processing Ingredients, Columbia', it has been observed that the food and beverage industry in Columbia grew 7.7% in 2021. In addition, as per the same source, the consumption of bread is much higher in Chile at 98 kilograms/216 pounds, followed by Argentina at 82 kilograms/180 pounds, Uruguay at 55 kilograms/121 pounds, and Columbia at 22 kilograms/48 pounds. Thus, the high consumption of processed food by the population is increasing the risk of developing obesity which in turn is anticipated to propel the demand for slimming pills, drinks, and other products, thereby boosting the market growth.

Furthermore, in an article published in July 2020, titled 'Effect of age and weight on physical activity'', a Chi-Square test conducted in Indonesia showed that more than 60% of middle-aged women of low socioeconomic status were obese or overweighed due to factors such as high blood pressure, arthritis, and other issues related to activities of bending and getting up from chairs. In addition, obese adults were found to have moderate to low physical activity which increases their chances of developing a high body mass index. This is expected to boost the demand for products or treatments that reduces weight without any side effects, thereby propelling market growth.

Moreover, the rising product launches related to weight loss are also contributing to the market growth. For instance, in June 2022, CoBionic launched Peak Burn, a new weight loss product. It uses a breakthrough mechanism that activates the body's natural ability to burn off white fat. Also, in March 2022, Auric launched effervescent tablets for liver detox and weight loss.

However, deceptive marketing practices and the presence of counterfeit products are expected to restrain the market growth over the forecast period.