GCC Weight Loss Market Insight, Size, Revenue, Growth Opportunities, Competitive Analysis, Trends and Demand by 2024
The GCC weight loss market is currently being driven by the lack of physical activities and growing awareness about maintaining healthy dietary habits.
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The latest report by IMARC Group, titled “GCC Weight Loss Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the GCC weight loss market reached a value of around US$ 3 Billion in 2018. Over the years, obesity has emerged as a key health concern in the Gulf Cooperation Council (GCC) region owing to the sedentary lifestyle habits of the majority of the population. This has consequently led to an increase in the prevalence of diseases such as cancer, cardiovascular disorders (CVD) and diabetes. Rising awareness among the consumers regarding the risks posed by obesity and related health issues has led a large section of the population to adopt weight loss solutions like gyms, sports clubs, weight loss centers, slimming supplements and bariatric surgery.
Market Trends:
A shift in the dietary preference is one of the key factors driving the market growth in the region. Owing to the hectic lifestyle of the working population, there has been a significant shift from the usual home-cooked food toward fast foods, which have high-calorie content. This shift has been further propelled by factors such as rapid urbanization, increasing influence of westernization, rising disposable incomes and easy accessibility to packaged food items owing to the proliferation of supermarkets and hypermarkets. Additionally, since the region experiences high average temperature throughout the year, people living in the Gulf countries avoid participating in outdoor sports events, which has resulted in a lack of physical activities. However, people are becoming increasingly aware of the health risks associated with obesity and the need to maintain a healthy lifestyle as a preventive measure to avoid any severe health issues. All these factors have led the population to explore weight loss services and products, which are gaining preference in the region. Other factors such as the launch of innovative variants and aggressive promotional activities by the manufacturers of weight loss products and services are also contributing to the growth of the market in the region. On account of the aforementioned factors, the GCC weight loss market size is expected to reach US$ 5 Billion by 2024, growing at a CAGR of more than 9% during 2019-2024.
Insights on Market Segmentation:
Market Breakup by Diet
1. Supplements
2. Meals
3. Beverages
On the basis of the diet, the market has been divided into supplements, meals and beverages. Amongst these, supplements represent the most preferred segment.
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Market Breakup by Equipment
1. Fitness Equipment
2. Surgical Equipment
Based on the equipment type, the market has been bifurcated into fitness and surgical equipment, wherein fitness equipment is the most popular type.
Market Breakup by Service
1. Fitness Centers and Health Clubs
2. Consulting Service
3. Surgical Clinics
4. Online Weight Loss Programs
5. Others
On the basis of the services, fitness centers and health clubs account for the majority of the total market share. Other major services include consulting service, surgical clinics, online weight loss programs and others.
Market Breakup by Gender
1. Men
2. Women
Based on gender, men dominate the overall market, followed by women.
Market Breakup by Age Group
1. Consumer Between 31 to 60 years of Age
2. Consumer Between 15 to 30 Years
3. Consumers with Age More Than 60 Years
4. Consumers Below 15 Years
On the basis of the age group, consumers between 31 to 60 years of age exhibit a clear dominance in the market. Other major segments include consumers between 15 to 30 years of age, consumers aging more than 60 years and consumers who are below 15 years of age.
Market Breakup by Region
1. Saudi Arabia
2. UAE
3. Kuwait
4. Qatar
5. Bahrain
6. Oman
On the geographical front, Saudi Arabia holds the leading position in the market. Other major regions including the UAE, Kuwait, Qatar, Bahrain and Oman.
Competitive Landscape
The competitive landscape of the market has also been studied in the report with the detailed profiles of the key players operating in the market.
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