This report provides extensive analysis of the Europe weight management industry, current market trends, industry drivers and challenges, for a better understanding of the market structure.
Market Research Reports : Transparency Market Research published new market report " Weight Management Market – Services, Supplements, Diet, Equipment and Devices Analysis and Forecast (2007 – 2015)" Europe weight management market is estimated to be USD 139.5 billion in 2011 and expected to reach USD 216.1 billion in 2015 at a CAGR of 11.6% over the period 2011 to 2015. Food (diet) & beverages segment accounted for the largest share at 36.1% of Europe weight management market in 2011. Weight management services will be the fastest growing segment at 13.7% CAGR during 2011 to 2015 and is expected to reach USD 66.4 billion in 2015.
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Over the past two decades, the overweight and obese population has nearly doubled in Europe. The costs associated in treating such ailments substantially exceed the costs associated with the weight management programs; this is valid for individuals and society as a whole. From the societal point of view, the costs and difficulties associated with a weight loss program are insignificant when compared to the costs and trauma associated with ailments such as diabetes and heart disease. For individuals, the overweight and the obese people have higher medical costs when compared to the normal weight individuals.
WHO response to this menace is adopted by the World Health Assembly in 2004 that prescribes actions needed to support healthy diets and regular exercise. In tandem with the proposals of the WHO, the weight management market has responded optimistically by supporting with various possibilities to the individuals who intend to lead a healthy lifestyle. By 2015, the weight management industry in Europe is poised to touch USD 216.1 billion mark with an estimated CAGR of 11.6% from 2011 to 2015; this reveals excellent potential in terms of value and growth for the weight management services companies.
The driving forces identified for the weight management market are aging population, growing number of obese people, increase in disposable income levels, people becoming more health/fitness conscious (fueling the trend of increased consumption of the weight management products and services) and profits driven by growth in the weight management products and services. In addition, increasing desire of the young and rich population to ‘look good’ from an acceptable norm of the society is also one of the major drivers for the market.
Most of the people adopt themselves to the sedentary but fast paced lifestyle and consumption of high calorie (less-nutritious fast food) that has raised obesity and overweight related concerns. Time crunch for an individual leads to lack of physical exercise, which is known to be the most vital factor in contributing to the present day health concerns. These individuals are the main target segment of weight management services market.
Low cost alternatives and under performance of drugs, devices and services are primarily restraining the growth of the market. In addition, lack of scientific evidence for such products and services and unethical marketing tactics do adversely affects the adoption among potential customers.