July 24, 2024
North America Weight Loss Supplement Market Size, Share & Trends Analysis Report 2024-2030


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North American Weight Loss Supplement Market

North American Weight Loss Supplement Market

North American Weight Loss Supplement Market

Dublin, June 14, 2024 (GLOBE NEWSWIRE) — The “North America Weight Loss Supplement Market Size, Share & Trends Analysis Report by Type (Liquid, Pills), Ingredient (Vitamins & Minerals, Amino Acids), Distribution Channel, End-user, Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.

The North America weight loss supplement market size is anticipated to reach USD 21.42 billion by 2030 and is growing at a CAGR of 7.6% from 2024 to 2030

Rising cases of obesity in the U.S. coupled with increasing consumer awareness levels about following a healthier and fit lifestyle will drive the market. In addition, a rising number of fitness centers and gyms in several countries and increased awareness about the importance of weight loss supplements are projected to drive market growth. Moreover, rising disposable income levels and improved accessibility & affordability of surgeries are propelling the market growth.

The MDPI study conducted in September 2020 to understand body weight changes during the initial months of the pandemic states that 18.1% of respondents witnessed a decline in their body weight, whereas 33.6% of respondents witnessed a gain in their body weight. An unhealthy diet is the leading cause of obesity and obesity-related disorders. Consumers increasingly realize these supplements’ benefits, which positively impact product growth and consumption levels. For instance, the U.S. population is becoming more health-conscious and actively pursuing a physical lifestyle. A rise in fitness centers and health clubs has supported market development and growth.

Health clubs have consulting dieticians, which influences members’ consumption of weight loss supplements. Furthermore, the growing trend of gaining the perfect body physique, especially in the younger age groups, also propels market growth. Public and private market players are facing strong competition and are focusing on developing & innovating new products. In addition, key players organize awareness campaigns to spread the need to control obesity and the benefits of weight loss supplements.

Furthermore, key players are strengthening their e-commerce and offline presence in retail pharmacies, drug stores, health & beauty stores, and department stores. Growing strategic alliances, major collaborations, and acquisitions among key market players operating in weight management also drive market growth.

Continuous research and development efforts aim to enhance efficacy, safety, and consumer appeal in this dynamic market. For instance, in July 2022, Herbalife Nutrition, a nutrition company, unveiled its newest scientifically supported offering, Fat Release, which assists consumers in maintaining healthy and active lifestyles.

North America Weight Loss Supplement Market Report Highlights

  • Based on type, powder dominated the market with a revenue share of 38.11% in 2023 due to the introduction of key players

  • The vitamins and minerals ingredient segment held the largest market share in 2023. On the other hand, the natural extracts and botanicals segment is expected to grow at a faster CAGR during the forecast period

  • In 2023, offline dominated the distribution channel with the highest revenue market share, and online is expected to grow at the fastest CAGR during the forecast period

  • In 2023, 18 to 40 years dominated the end-user segment in revenue, and under 18 years are expected to at a significant CAGR from 2024 to 2030

  • The U.S. dominated the North America market with an 82.40% share, driven by factors such as increasing health consciousness, rising obesity rates, and a growing focus on wellness

Key Attributes:

Report Attribute

Details

No. of Pages

100

Forecast Period

2023 – 2030

Estimated Market Value (USD) in 2023

$12.97 Billion

Forecasted Market Value (USD) by 2030

$21.42 Billion

Compound Annual Growth Rate

7.6%

Regions Covered

North America

Market Dynamics

Market Driver Analysis

Market Restraint Analysis

Industry Analysis Tools

Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/r/onvshd

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