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The South Korea weight loss and weight management market is expected to grow at a CAGR of about 5.8% in the forecast period of 2023-2028. The surge of various weight loss options and growing health issues are expected to drive the market growth during the given forecast period.
These mukbang shows have become increasingly well-liked in Korea and internationally. The term has evolved to represent food-related programmes. People are now more commonly using the internet to watch mukbang, a novel form of online entertainment. Mukbang is a blend of two words, "eating" (meokda) and "broadcast" (bangsong), which describes online eating programmes in which a mukbanger sometimes consumes excessive amounts of food while interacting with viewers. Mukbangers impacted viewers' impressions of foods by encouraging them to eat packaged food, fast meals, and unhealthy foods that were salty, fatty and rich in calories. This is one of the major causes of the rise in the consumption of weight loss and weight management market in the country. In 2018, the government pledged to regulate several recommendations as a part of an anti-obesity campaign to promote healthy food intake and improve knowledge of proper dietary practices. Between 5-7 p.m., when kids and youngsters make up the majority of the audience, unhealthy food product-related programmes and radio advertisements were prohibited for the time being.
The principle of weight gain is when the energy intake exceeds energy expenditure. Weight-management programs and services are of two types of weight loss and weight management. Physical activities are an essential element of any weight maintenance program, along with dietary modification and restriction that influences the rate of weight loss.
By diet, the weight loss and weight management market of South Korea can be segmented into:
Based on equipment, the South Korea weight loss and weight management market can be divided into:
An essential element fuelling the growth of this market is the sharp increase in obesity incidence among the population. People from South Korea are thought to be thin. Obesity has been on the rise in recent years as consumers eat more processed and fast foods and live more sedentary lifestyles. However, social opinions of obesity continue to be centred on physical appearance rather than health, resulting in delayed change. Several consumers are taking dietary supplements that promise quick weight loss like meal replacements and fasting supplements to get a slim waistline. Korea's fat population is disproportionately made up of lower-income people, just like in many other wealthy nations. Fast food and processed food are readily available here and are far less expensive than purchasing fresh produce for a balanced diet.
In the past, bariatric or weight reduction surgery was viewed as the final resort for weight loss when all other methods, including diets, exercise, and other medically advised regimens, had failed. However, with advances in technology, patients no longer experience as much discomfort during bariatric procedures. As a result, the medical profession is increasingly accepting these surgeries as a successful and long-lasting weight loss alternative.
The perspective of one's physique is significant in helping people lose and maintain weight. The number of people who see themselves as overweight is allegedly much higher than the number of people who are overweight, implying more erroneous body weight views. Teenagers in Korea are increasingly turning to anorexia due to their fear of gaining weight and desire to look thin. Young people once pushed the "pro-ana" movement through various websites and social media accounts, offering extensive information and advocating anorexia-related behaviours. These beauty standards also impact other industries. To increase their likelihood of landing a job, flight attendants frequently take weight loss supplements or sometimes get cosmetic surgery to seem attractive and slim.
Additionally, obesity has adverse effects on health in many ways, including raising the chances of getting chronic diseases such as high blood pressure, cardiovascular diseases, osteoarthritis, certain types of cancer, depression, and diabetes, which decreases life expectancy and is expected to hasten the expansion of Weight Loss and weight Management market.
For market players, the market for weight loss and weight and management has significant growth potential. This can also be linked to a rise in disposable income and the adoption of western lifestyles, which are the main drivers of market expansion. Additionally, there is an opportunity for manufacturers to introduce premium, calorie-efficient products.
The report provides an in-depth research of the following prominent players in the South Korea xx market, giving a detailed understanding about the competitive landscape, capacity, and recent developments including mergers, acquisitions, and investments, capacity expansion, and plant turnarounds:
The EMR report provides a detailed assessment of the market on the basis of the Porter's five forces model, combined with a SWOT analysis.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Diet||
|Breakup by Equipment||
|Breakup by Service||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 South Korea
7 Industry Opportunities and Challenges
8 South Korea Weight Loss and Weight Management Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Weight Loss and Weight Management Historical Market (2018-2022)
8.3 South Korea Weight Loss and Weight Management Market Forecast (2023-2028)
8.4 South Korea Weight Loss and Weight Management Market by Diet
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2018-2022)
184.108.40.206 Forecast Trend (2023-2028)
220.127.116.11 Breakup by Type
18.104.22.168.1 Meal Replacements
22.214.171.124.2 Low-Calorie Sweeteners
126.96.36.199.3 Low-Calorie Food
188.8.131.52.4 Organic Food
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Breakup by Type
126.96.36.199.1 Diet Soft Drinks
188.8.131.52.2 Herbal Tea
184.108.40.206.3 Slimming Water
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2018-2022)
22.214.171.124 Forecast Trend (2023-2028)
126.96.36.199 Breakup by Type
188.8.131.52.1 Protein Supplements
184.108.40.206.2 Fibre Supplements
220.127.116.11.3 Green Tea Extract
18.104.22.168.4 Conjugated Linoleic Acid
8.5 South Korea Weight Loss and Weight Management Market by Equipment
8.5.1 Fitness Equipment
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Breakup by Type
220.127.116.11.1 Cardiovascular Training Equipment
18.104.22.168.2 Strength Training Equipment
22.214.171.124.3 Fitness Monitoring Equipment
126.96.36.199.4 Body Composition Analysers
8.5.2 Surgical Equipment
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
18.104.22.168 Breakup by Type
22.214.171.124.1 Minimally Invasive Surgical Equipment
126.96.36.199.2 Noninvasive Surgical Equipment
8.6 South Korea Weight Loss and Weight Management Market by Service
8.6.1 Fitness Centres and Health Clubs
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.6.2 Slimming Centres and Commercial Weight Loss Centres
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.6.3 Consulting Services
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.6.4 Online Weight Loss Programs
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Herbalife Korea Co.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 Jivaka Care Co.,Ltd.
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 Amway Korea Co.
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.5 Fitbit LLC
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.6 DRAX Co.
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
11 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Weight Loss and Weight Management Market: Key Industry Highlights, 2018 and 2028
2. South Korea Weight Loss and Weight Management Historical Market: Breakup by Diet (USD Million), 2018-2022
3. South Korea Weight Loss and Weight Management Market Forecast: Breakup by Diet (USD Million), 2023-2028
4. South Korea Weight Loss and Weight Management Historical Market: Breakup by Equipment (USD Million), 2018-2022
5. South Korea Weight Loss and Weight Management Market Forecast: Breakup by Equipment (USD Million), 2023-2028
6. South Korea Weight Loss and Weight Management Historical Market: Breakup by Service (USD Million), 2018-2022
7. South Korea Weight Loss and Weight Management Market Forecast: Breakup by Service (USD Million), 2023-2028
8. South Korea Weight Loss and Weight Management Market Structure
The market is projected to grow at a CAGR of 5.8% between 2023 and 2028.
Easy access to fast and processed foods, advances in technology, a sedentary lifestyle, rising disposable income, adoption of the western lifestyle, increased use of social media and good internet penetration are the major industrial drivers.
The growing significance of mukbang culture and health issues are the key trends of the market.
The major players in the weight loss and weight management industry are Herbalife Korea Co., Jivaka Care Co.,Ltd., Amway Korea Co., LEXCO, Fitbit LLC, and DRAX Co., among others.
Aided by the growing technological advancements, the South Korea weight loss and weight management market is expected to witness a growth in the forecast period of 2023-2028, growing at a CAGR of 5.8%.
EMR’s report gives a comprehensive and detailed research on the market, covering all the aspects of the market. Based on diet, the South Korea weight loss and weight management industry can be segmented into meals, beverages, and supplements. On the basis of equipment, the South Korea weight loss and diet management market is bifurcated into fitness equipment and surgical equipment. On the basis of service, the market can be classified into fitness centres and health clubs, slimming centres and commercial weight loss centres, consulting services, and online weight loss programs. The key players in the above market include Herbalife Korea Co., Jivaka Care Co.,Ltd., Amway Korea Co., LEXCO, Fitbit LLC, and DRAX Co., among others.
EMR reports are prepared with the assistance of advanced analytical tools and the expertise of their highly accomplished team. The report provides our clients with market insights which are precise, actionable, and help them strengthen their position in the competitive market.
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