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What is the market size of the weight loss industry in China?
Hello and thanks for your question on the size of the weight loss market in China.
In short, the weight loss/management market in China is US$ 1.37 billion. Its component segments by size are: slimming teas: US$ 0.9 billion (65.69%), meal replacement slimming: US$0.23 billion (16.79%), weight loss supplements: US$0.15 billion (10.95%), and other slimming products: US$0.09 billion (6.57%). The weight management and well-being market in China is expected to grow at a CAGR of 14% at between 2016 and 2021.
METHODOLOGY
To answer your question, I looked through reports and articles on the weight loss industry in China. Most of the reports with the information on the market and its segments were protected behind pay-walls. I therefore relied heavily on data quoted from a Euromonitor report which gives the overall size of the weight management market as well as sizes of market segments.
Of note is that the segments presented in the report do not include weight loss/management services and medical weight loss programs as the information was not accessible. I have, however, presented the information I found on these markets segments that give an idea of how the market looks.
Below are my findings:
BACKGROUND
In China, “due to the stresses of modern life, a lack of exercise and environmental pollution, many consumers face the problems of weight management, obesity and chronic disease.”
In 2014, China overtook the U.S. to become the country with the most obese people with 16.3% of the global total in men and 12.4 % in women.
There is also increased risk of children becoming overweight or obese, with a report from the Centre for Disease Control and Prevention in Shandong province, quoted as showing that 16.4% of boys and 14% of girls in China were overweight or obese in 2014.
The growth in the weight loss/management market in China is driven by changing consumer lifestyles where "consumers perceive weight management and well-being products as an effective way to keep healthy and prevent illnesses caused by obesity."
The China weight loss/management market is among the most significant ones, globally. For example, China and the U.S. accounted for 55% in the fast growing global online sales segment of the global weight loss supplement market valued at US$ 607.2 million in 2015. The Asia Pacific region has had increasing sales in the weight management market and China is among the top three countries in the region with majority of these sales.
WEIGHT LOSS/MANAGEMENT MARKET IN CHINA
Euromonitor is quoted as forecasting the Chinese retail weight management market sales in 2016 to reach US$ 1.37 billion. The sizes of the segments in the market and their market share are:
This is the largest category in the market with about 10% year on year growth expected between 2013 and 2016. By 2016, “the sales values for slimming teas are expected to be the highest in South China at US$ 308.4 million, followed by East China with sales of US$ 259.5 million.”
This is the fastest growing segment growing at over 10% year on year growth between 2013 and 2016. “South China will see the highest average sales growth in this sub-category, at approximately US$ 7 million annually from 2013 to 2016, while Southwest area of China will see the least average sales growth at approximately US$ 0.75 million in the same period.”
This segment was forecast to experience negative growth between 2013 and 2015 of up to -4.9%, and no growth in 2016.
This category was expected to have negative growth of about -7%, year on year growth, between 2013 and 2016.
OTHER MARKET SEGMENTS IN THE WEIGHT LOSS/MANAGEMENT MARKET IN CHINA
1) Weight Loss Medical Programs Market in China
The information on the size of this segment was not readily available. However, I found that 5,000 to 10,000 weight-loss operations/surgeries are performed in China every year.
2) Weight Loss Services Market in China
Information on the size of this segment was not accessible. However, the gym, health and fitness clubs industry in China is valued at US$ 5.81 billion and would include such services as exercise and fitness for weight loss. The growth in this market is said to be driven by, among other things, increasing health awareness among Chinese consumers.
GROWTH OF THE WEIGHT LOSS/MANAGEMENT MARKET IN CHINA
The China weight management market was forecast to grow by over 7%, year on year growth, from 2013 to 2016 and a compound annual growth rate (CAGR) of 5%. In addition, the weight management and well-being market in China is projected to increase by a CAGR of 14% at between 2016 and 2021.
MAIN PLAYERS IN THE WEIGHT LOSS/MANAGEMENT MARKET IN CHINA
Some of the leading players in the China weight management market include Herbalife Ltd, Amway (China) Co. Ltd., and Guangzhou By-Health Biological Engineering Co. Ltd.
CONCLUSION
In summary, the weight loss/management market in China is US$ 1.37 billion and is made up of the segments: meal replacement slimming: 16.79%, slimming teas: 65.69%, weight loss supplements: 10.95%, and other slimming products: 6.57%. The market can be expected to grow at a CAGR of 14% between 2016 and 2021. Some of the main players in the Chinese weight management market are Herbalife Ltd, Amway (China) Co. Ltd., and Guangzhou By-Health Biological Engineering Co. Ltd.
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