Intermittent Fasting Diet is fastest growing segment fueling the growth of Weight Loss Diet Products Market

 

The global Weight Loss Diet Products Market is estimated to be valued at US$ 206.04 Bn or Billion in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Weight loss diet products are foods designed to help individuals lose weight by restricting calories or micronutrients such as carbohydrates and fats. Popular weight loss diet products include whole food meal replacements, soups, snacks, and beverages. Such products offer convenience, taste, and support weight loss without excessive meal planning or preparation.

Market key trends:

One of the major trends fueling the growth of the weight loss diet products market is the rising popularity of intermittent fasting diets. Intermittent fasting diets involve fasting for short or extended periods. They are gaining traction owing to claimed benefits such as weight loss, improved blood sugar levels, reduced inflammation, and longevity. According to several studies, intermittent fasting may help reduce body weight and lower disease risk when combined with physical activity and healthy eating. The growing awareness and acceptance of intermittent fasting as a lifestyle or diet choice is driving demand for meal replacements, snacks, and beverages tailored for such dietary patterns.

Segment Analysis

The global weight loss diet products market is segmented on the basis of product type, sales channel, and region. Based on product type, the market is segmented into meal replacement products,OTC obesity drugs, slimming tea, and supplements. Among these, the meal replacement products segment dominated the market in 2023 and is expected to remain dominant over the forecast period due to the increasing number of people opting for meal replacement shakes and bars to manage their weight.

Key Takeaways
The global weight loss diet products market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing health awareness and obesity rates among consumers globally.

Regional analysis: North America dominated the market with a share of over 30% in 2023 owing to the increasing prevalence of obesity in countries like the US. Asia Pacific is expected to be the fastest growing region due to growing health and fitness consciousness in countries like China and India.

Key players analysis: Key players operating in the weight loss diet products market are Atkins Nutritionals, Inc., Herbalife Nutrition, Nestle S.A. (Optifast), Medifast, Inc., Robard Corporation, Physicians Weight Loss, Nu-Skin, Visalus, WW International, Inc., and VLCC Healthcare Ltd. Atkins Nutritionals is the market leader with its wide range of low carb meal replacement shakes and snacks.

Market size: The global weight loss diet products market size was valued at US$ 206.04 billion in 2023 and is expected to reach US$ 352.32 billion by 2030, expanding at a CAGR of 7.2% during the forecast period.

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