The obesity epidemic has been identified as a significant global health emergency, with 16% (890 million) of all adults over the age of 18 living with obesity, according to the World Health Organisation. The situation at a local level is even more concerning, with 31% of South African men and 68% of South African women being obese, with an expectation that overall obesity rates in the country will rise to 37% overall by 2030. This is resulting in an explosion of the weight management market as consumers place a greater focus on weight loss to treat and prevent obesity.
Alongside groundbreaking GLP-1 medications (e.g. Ozempic® and Mounjaro®), a class of prescription, antidiabetic medications increasingly being used for weight loss, meal replacement shakes are gaining in popularity amongst consumers looking to maintain and manage their diets. As a result, there has been an influx of new and innovative meal replacement shake products that offer weight-conscious consumers customised nutrition in a variety of appealing flavours, designed to be enjoyed on their own, or even as part of a GLP-1 regimen.
Insight Survey’s latest Weight Management Industry Landscape Report 2024 carefully uncovers the global and local Weight Management market, based on the latest intelligence and research. It describes the latest global and local market trends, innovation and technology, drivers, and challenges, to present an objective insight into the South African Weight Management industry environment and its future.
In 2024, the global Weight Management market is expected to reach an estimated value of approximately US$160.2 billion. Furthermore, the market is forecast to increase at a compound annual growth rate (CAGR) of 8.3%, to reach a value of approximately US$328.2 billion by 2032, as illustrated in the graph below.
This global growth is also reflected in the South African market, where the Weight Management market witnessed a 6.3% year-on-year increase in retail value, and is anticipated to continue this upward trajectory, with a forecast CAGR of 7.0% from 2024 to 2028.
The growth of the local Weight Management market is being driven by the rising popularity of prescription weight loss and diabetic medications, particularly GLP-1 agonists such as Saxenda®, Ozempic®, Mounjaro® and Wegovy®. While these medications are effective, they often come with a high price tag, side effects and require lifestyle adjustments for sustainable results. This has led to the emergence of GLP-1 companion products, designed to complement these medications, and mitigate its side effects. Amongst the most popular are meal replacement shakes.
As an example, Herbalife has introduced its Herbalife GLP-1 Nutrition Companion line, which includes meal replacement shakes, protein powder, and fibre supplements. These products aim to provide essential nutrients, support digestion, and maintain muscle mass, helping users manage the common side effects associated with GLP-1 medications.
Globally, meal replacement products continue to cater to a wider range of dietary preferences, including those of vegetarian and vegan consumers. HLTH Code, a brand focused on metabolic health, launched a new plant-based meal powder and nutritional shake that delivers 27g of protein and 17g of fibre per serving. Similarly, UK-based BOL Foods, introduced a line of ready-to-drink (RTD) meal replacement Power Shakes, available in flavours such as chocolate, salted caramel, and vanilla, all of which are nutritionally complete.
This global trend is mirrored locally, with several new meal replacement products entering the South African market. SSA Supplements (formerly Supplements SA) recently launched Muscle Food, a meal replacement shake that provides 25g of protein, 40g of low-GI carbs, and essential fats, offering the same benefits as a balanced home-cooked meal. Meanwhile, the brand Replace has introduced its Replace Diabetic meal replacement shake, specifically designed to help regulate blood sugar levels and support heart and immune function. This product is available in vanilla, chocolate, and strawberry flavours.
Moreover, Herbalife, a key player in the local market, has also expanded its offerings, launching two new limited-edition flavours to its Formula 1 Shake Mix range. These include Peach Lychee, a gluten-free and vegetarian option; and Yuzu Passionfruit, a gluten-free and vegan variant. The brand also unveiled its Formula 1 Express Bar, an on-the-go meal replacement that includes Promitor fibre to support digestive health, and is suitable for ovo-lacto vegetarians.
The increasing demand for these products reflects the growing focus on holistic Weight Management solutions, combining medication, dietary supplements, and meal replacements for optimal results.
The South African Weight Management Industry Landscape Report 2024 (110 pages) provides a dynamic synthesis of industry research, examining the local and global Weight Management industry from a uniquely holistic perspective, with detailed insights into the entire value chain – market sizes and forecasts, industry trends, latest innovation and technology, key drivers and challenges, as well as a manufacturer and distributor overview, retail, and pricing analysis.
Some key questions the report will help you to answer:
- What are the key market dynamics of the global and South African Weight Management industry?
- What are the latest global and South African Weight Management industry trends, innovation and technology, drivers, and challenges?
- What are the South African Weight Management market size value and volume trends (2018-2023) and forecasts (2024-2028), as well as channel distribution?
- Which are the key manufacturers, distributors and retailers in the South African Weight Management industry?
- What is the latest company news for key players in terms of products, new launches, and marketing initiatives?
- What are the prices of popular Weight Management brands/products across South African retail pharmacies?
For more information, and to view the brochure: South African Weight Management Industry Landscape Brochure 2024
If you require further assistance, please email info@insightsurvey.co.za, call our Cape Town office on (021) 045-0202, or Johannesburg office on (010) 140- 5756.
About Insight Survey:
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