This is the function that you need to call and pass the product type that's registered in WordPress (by WooCommerce). It's 'product'.
$total_products_obj = wp_count_posts( 'product' );
This function call returns an object with multiple properties and you can decide what you need. The total number of published products or those saved as draft.
object(stdClass)#1011 (19) {
["publish"]=>
string(2) "13"
["future"]=>
int(0)
["draft"]=>
int(0)
["pending"]=>
int(0)
["private"]=>
int(0)
["trash"]=>
int(0)
["auto-draft"]=>
int(0)
["inherit"]=>
int(0)
["request-pending"]=>
int(0)
["request-confirmed"]=>
int(0)
["request-failed"]=>
int(0)
["request-completed"]=>
int(0)
["wc-pending"]=>
int(0)
["wc-processing"]=>
int(0)
["wc-on-hold"]=>
int(0)
["wc-completed"]=>
int(0)
["wc-cancelled"]=>
int(0)
["wc-refunded"]=>
int(0)
["wc-failed"]=>
int(0)
}
To get the number of published products you need to access this property: $total_products_obj->publish
To get the number of draft products you need to access this property: $total_products_obj->draft
Disclaimer: The content in this post is for educational purposes only. Always remember to take a backup before doing any of the suggested steps just to be on the safe side.
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