MARKET OUTLOOK
Triton Market Research has concluded that the Mexico weight loss diet and weight management market is projected to grow at a 0.10% of CAGR during the estimated years 2019-2025.
Mexico is a country with one of the highest rates of obesity in the world, with reportedly 7 out of 10 people suffering from the lifestyle disease. The high rates of obesity in the country can be attributed to the consumption of unhealthy food and beverages, which is highly influenced by the diet culture of the people of the US, as well as the sedentary lifestyles of people – mainly attributable to long commuting times and working hours. Thus, the concept of weight management has gained momentum in the country, with a large number of people opting to seek professional guidance from nutritional experts to chart out customized diet plans for them. These diet plans favor healthy, fresh and nutritious food over packaged food.
Smartphone applications and internet-tracking tools have become quite popular among Mexicans wanting to lose weight. These apps help in keeping track of the amount of physical exercise performed, calories lost during that activity and the total calorie intake during that day. These factors help in boosting the market in Mexico. However, the growth of the weight loss diet and weight management market in the country is restrained by factors such as poor economic growth, rising inflation and the falling exchange rate of the Mexican currency against the US dollar.
COMPETITIVE OUTLOOK
The competitive players in the weight loss diet and weight management market are Genomma Lab, Omnilife S.A., Herbalife Internacional, USANA and Abbott Laboratorios.