Market Trends of North America Weight Management Products Industry
Increasing Prevalence of Obesity Across the Region
- According to the 19th annual report on the country's obesity crisis published by Trust for America's Health in 2022, in North America, obesity is emerging as one of the most significant burdens on healthcare. Four in ten American adults have obesity, and obesity rates continue to climb nationwide and within population groups. Consequently, obesity caters to a significant percentage of total health expenditure in many countries. according to the analysis of the Organization for Economic Co-Operation and Development (OECD).
- The percentage of health expenditure spent on overweight and related conditions is predicted to account for 14% in the United States from 2020 to 2050. The increasing healthcare expenditure on obesity is most likely to switch the consumer preference toward weight management products, including weight loss supplements and drinks, in order to maintain a healthy life. This has led to manufacturers creating innovative products for consumers.
- For instance, in December 2021, one of the US leading weight loss supplement brands, Hydroxycut, launched a weight loss drink named CUT Energy. Based on the company's claim, the weight loss drink is formulated with vitamins and caffeine to increase energy. Berry Lemonade, watermelon, pomegranate, and orange mango pineapple are the three different flavors of CUT energy drink that are available at convenience stores in Southern California.
- Additionally, the demand for meal replacement products is high in the North American region as consumers are rigorously monitoring their regular diets and nutritional intake due to the increasing rate of obesity. Thus, key players are primarily dedicated to offering tailored meals, such as shakes and drinks, for people willing to modify regular diets to lose weight effectively.
- For instance, in July 2022, CTRL, a fastest-growing meal replacement brand in the United States, launched new meal on-the-go bars packed with wholesome ingredients, including premium whey protein, to satisfy consumers. Moreover, companies such as General Mills, KETO, Garden of Life, and Abbott Laboratories, are introducing meal replacement products for consumers monitoring special diets, such as no-sugar, keto, low-sodium, and low-fat. This is another factor boosting the market studied.
- Thus, with consumers getting more adamant about losing weight and getting in shape, the demand for weight-loss supplements is anticipated to surge in the coming years, further uplifting the overall market's growth.
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United States to Drive the Regional Market
- The United States accounts for the largest share of the obese population and the highest rate of diabetic population in North America. Increasing awareness about health and fitness among consumers in this region and the high scope of gym memberships and fitness club enrolments are expected to drive the market in the forecast period. Weight reduction drugs that can hijack the body's appetite by regulating the brain's system, resulting in reduced hunger and calorie intake, are a profitable market for manufacturers in the weight management industry.
- The United States has been dominating the weight management products market in the North American region, owing to the rising prevalence of overweight and obesity in the country, along with rising awareness regarding personal well-being. Consumers in the region prefer herbal and non-herbal weight-managing products, such as slimming teas and calorie-restricted meal replacements, like shakes, powders, soup, and bars, among other products. Despite the backlash against weight loss supplements, the meal replacement category recorded significant growth, as these products are considered healthier alternatives to over-the-counter obesity and weight loss supplements.
- Also, these meal replacement products are healthier and safer to follow, as they provide less caloric density and the essential nutrients, vitamins, and minerals necessary for healthy weight loss and diet. Along with increasing awareness about nutrition and healthy lifestyles, the growth in the number of fitness centers in the country also supports the growth of the weight loss and weight management market, as these centers are involved in endorsing weight loss products among their respective consumers.
- For instance, in January 2022, Solace Nutrition, a United States-based medical nutrition company, acquired the assets of R-Kane Nutritionals. This acquisition of assets helps Solace Nutrition to create synergy between both brands and enhance its growth while providing a presence in an adjacent nutrition market.
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