The North America weight loss management market is suggested to have reached a value of around $104 billion by the end of 2012, and is forecast to grow to a total of $139.5 billion by 2017.
Obesity and weight gain have always been major concerns regarding the health and fitness of individuals; today, it has reached the level of an epidemic. Increasing obesity rate and increasing levels of awareness amongst calorie-conscious consumers in North America have opened new avenues for the weight management industry. The U.S. is the largest market for weight loss/obesity management market, followed by Canada.
The North America weight management market witnesses a growing preference for low-calorie diet food and beverages and slimmer waters/natural mineral salt drinks. With the introduction of technologically advanced and highly sophisticated fitness equipment, the use of cardiovascular and strength training equipment is on a rise. However, factors like availability of low-cost alternatives, adoption of deceptive marketing strategies, and high cost of customized services are hindering growth.
Quick results of weight loss surgeries and insurance coverage have made bariatric surgeries popular among clinically obese people. However, the side-effects of weight loss surgeries have made people opt for non-invasive and non-medical methods of weight loss. As per the American Society for Metabolic & Bariatric Surgery, the total number of weight loss surgeries performed in the U.S. was 220,000 in 2012, likely to increase in the coming years due to the rising obesity rate. In Canadian hospitals, a total of 2,385 bariatric procedures were carried out in 2008–2009; it represented a 92% increase from 2004–2005.
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