The weight loss management market is driven by several factors such as increase in obesity rates, rise in disposable incomes, rising prevalence of lifestyle diseases, growing number of bariatric surgeries, strong government support, and technological advancements according to a recent report by Markets And Markets. The increasing number of online weight loss programs have opened an array of opportunities for the growth of the obesity management market. However, high costs of low-calorie diet food and deceptive marketing strategies to attract customers are likely to hinder the growth of this market. The weight loss management market in the Middle East and North Africa (MENA) region is expected to register a strong performance, due to high obesity rates in some countries and following western lifestyle trends in others.
The global weight loss management market is expected to reach USD206.4 billion by 2019 from USD148.1 billion in 2014, growing at a CAGR of 6.9 percent from 2014 to 2019, according to Markets and Markets report. The number of overweight and obese people in Saudi Arabia is increasing and this is due to a number of factors, including the high-fat traditional Arabian diet and the more recent introduction of Western-style fast food, in addition to busier lifestyles, which means that parents often have little time during the day to prepare healthy, balanced meals, according to a recent report by Euromonitor.
“Obesity remains a major problem in Turkey due to the high fat and carbohydrate content of the average Turkish meal”
Furthermore, strict social regulations against the mixing of genders mean few consumers participate in sporting activity. Thus, high numbers of Saudis live fairly sedentary lives. It is also worth mentioning that, due to the lack of gymnasiums for women to exercise, the number of obese Saudi women is rising rapidly. These factors have all boosted demand for weight management products, with the category registering strong current value growth of 13 percent in 2015, although this was slightly weaker than the 14 percent current value CAGR recorded in the category over the entire review period. Weight management in the United Arab Emirates (UAE) was expected to record a value CAGR of 15 percent at constant 2015 prices over the forecast period (2015-2020), lower than the constant value CAGR of 18 percent witnessed over the review period. This is due to the continuous efforts by the government to reduce the rate of obesity in the UAE and a percentage of the population which will look for methods to catalyze the weight loss process by purchasing weight management products. Growth in weight management and wellbeing in Egypt is expected to remain positive over the forecast period (2015-2020), with the category set to generate a value CAGR of 7 percent at constant 2016 prices due to the increasing awareness of weight management products, especially among middle-income consumer groups and young people. There is a new trend in Egypt of people being very concerned about their wellbeing as they are more exposed to international satellite television channels and become better informed about healthy living through internet websites. Obesity remains a major problem in Turkey due to the high fat and carbohydrate content of the average Turkish meal. Weight management and wellbeing is expected to register a value CAGR of 8 percent at constant 2016 prices – an increase from the review period CAGR of 6 percent. The rise in the number of obese and overweight people in Turkey will lead to further growth within weight management.
Source Fatima Saab
Content Editor & Researcher
CPH World Media