DUBLIN, April 28, 2022–(BUSINESS WIRE)–The “Diet Pills Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product Type, Application, Age Group and Distribution Channel” report has been added to from ResearchAndMarkets.com offer.
Rise in Personal Care to Drive Global Diet Pills Market
The market is expected to grow from US$1,132.55 million in 2021 to US$3,2270.94 million by 2028; it is estimated to grow at a CAGR of 10.4% from 2021 to 2028.
Rise in personal care, rising problem of obesity, increase in elderly population and increase in number of women taking dietary supplements are driving the diet pills market. However, the challenging regulatory environment is expected to limit the market growth over the forecast period.
In the first half of 2020, demand for diet pills declined due to lockdown and social distancing due to the COVID-19 pandemic, while demand increased globally in the second half of 2020. 2021, as the condition was normalizing with the fastest recovery rate, well-established and newer market players are spending on research and development to establish highly effective additions without side effects.
Consumer awareness of the importance of wellness and disease prevention is increasing with the increasing availability and use of online medicine portals and health organization websites for consultation. They are increasingly health conscious and taking a proactive approach to disease treatment and prevention.
Additionally, the growing popularity of fitness, bodybuilding, and specialized sports among people between the ages of 20 and 40 is driving the demand for diet pills and supplements that can help them achieve their aesthetic goals or improve their performance. The number of gym and fitness enthusiasts has increased dramatically over the past decade. Many trainers and fitness professionals recommend taking diet pills to lose weight. Many global players in the diet pill industry are likely to introduce new diet pills over the next decade.
The increase in consumer purchasing power has led to various lifestyle changes including a decrease in physical activities and unhealthy eating habits that lead to high calorie intake, ultimately leading to an increase in the obese population. However, increased health awareness among consumers has prompted them to choose a healthy lifestyle that includes more physical activities and awareness of food intake.
Due to their hectic lifestyles, many consumers are strongly inclined to take dietary supplements to maintain the physical shape and appearance of their bodies. Obesity is on the rise among young people in the United States and Europe. According to body mass index (BMI), 45% of adults in the European Union (EU) were normal weight in 2019, while 53% were considered overweight (36% pre-obese and 17% obese). ~45% of overweight US citizens and ~67% of obese US citizens are trying to lose weight. ~15% of adults in the United States have taken weight loss supplements, including 21% of women and 10% of men in the country.
Dietary supplements in pill form, such as tablets, capsules, and capsules, cost around $2.1 billion a year. Weight loss was one of the top 20 reasons for taking dietary supplements. So, with the increase in obesity rate, the demand for diet pills and supplements has increased.
Novo Nordisk A/S, Gelesis, VIVUS LLC, Chong’s Health Care, GlaxoSmithKline plc., Pfizer Inc. (Arena Pharmaceutical GmbH), Iovate Health Sciences International Inc., Zoller Laboratories, Currax Pharmaceuticals LLC., TEVA PHARMACEUTICAL INDUSTRIES LTD. are some leading companies operating in the diet pills market.
Key market dynamics
Growing obesity problem
Increase in the elderly population and increase in the number of women taking dietary supplements
Chong Health Care
Pfizer Inc. (Arena Pharmaceutical GmbH)
Iovate Health Sciences International Inc.
Currax Pharmaceuticals LLC.
Teva Pharmaceutical Industries Ltd
For more information on this report, visit https://www.researchandmarkets.com/r/kccm6y
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