Some Segments of $71 Billion Industry Do Well
“Some parts of the market are getting hit hard, but others are thriving.”
June 1, 2020: Marketdata LLC, a number one impartial market analysis writer of off-the-shelf research about service industries since 1979, has launched a brand new 65-page research: Status of The U.S. Weight Loss Market: Effects of The Pandemic . This is an entire evaluation and forecast for ALL main segments of the U.S. food regimen market in 2020.
The Covid-19 disaster has compelled many weight reduction companies to speed up their operations towards the digital supply of companies. Those that mayt make this pivot is not going to survive this recession., in accordance to Research Director, John LaRosa.
Market Value Marketdata estimates that the whole U.S. weight reduction market reached new highs of $78 billion in 2019. However, with shut-downs that started in March, the market is anticipated to decline 9% in worth to $71 billion this yr. Some market segments have truly prospered.
Commercial chains Revenues of the key weight reduction opponents (WW, NutriSystem, Jenny Craig, Medifast, others) are forecast to dip 2.three% to $three.9 billion in 2020. WW Intl. and Medifast are anticipated to submit the most effective outcomes, whereas Jenny Craig could also be hardest hit.
Meal replacements (shakes, vitamin bars) Meal replacements and OTC slimming capsules gross sales mixed are forecast to develop by 5.four% this yr, to $5.25 billion–with meal replacements development outpacing slimming capsules. These merchandise have largely escaped results of the pandemic due to their low value, simple availability at grocery and comfort shops, and MLM channels, which remained open through the pandemic.
Medical weight reduction packages
The worth of all medical weight reduction packages is forecast to decline 16.three% in 2020 to $7.78 billion. This section of the burden loss market will likely be hit hardest, due to Eight-10 week closures of packages based mostly in hospitals, clinics, and doctor places of work. Hospitals have been scrambling to service Covid-19 sufferers, not weight reduction sufferers. Weight loss surgical procedures are forecast to fall by 17%.
Prescription weight reduction medicine U.S. Sales are forecast to decline 15% in 2020 within the U.S., to $590 million, as caseloads at MD places of work, clinics and hospitals declined.
Low-cal frozen dinner entrées Sales of frozen food regimen dinners are literally booming. They are forecast to develop by 12% in 2020 to $2.6 billion, as shoppers shift to higher utilization of handy and frozen meals. Better packaging and producer product improvements in 2019 have helped considerably.
Diet Soft Drinks & Artificial Sweeteners Sales are anticipated to rise 5% this yr, persevering with the rebound of 2019.
Dieter Behavior Shifts The Coronavirus has triggered some vital modifications in client habits. The conventional food regimen season has been shifted from January-May to the Summer and Fall. In addition, shoppers are stocking up on frozen meals they shunned just some years in the past. They are accessing weight reduction and train packages way more by way of apps, webinars, web sites, stay streaming, teaching by telephone and by way of residence exercises.
Companies which can be anticipated to climate the recession and the pandemic effectively embody: WW Intl., Noom, Herbalife, Medifast, Simply Good Foods (Atkins model), Nestle (Lean Cuisine), HMR Boston, Glanbia (SlimFast model), weight reduction aps, and meal replacements producers.
About The Report
Status of The U.S. Weight Loss Market: Effects of the Pandemic , printed in June 2020, is an independently researched off-the-shelf research. The research is 65 pages in size. It sells for $595. Available in pdf format. An in depth Table of Contents is out there on the web site or by way of e-mail. Questions? Contact: Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, (813) 971-8080. John LaRosa is out there for interviews.
Marketdata is a non-public market analysis and consulting agency that has specialised within the monitoring and evaluation of the burden loss market since 1989. It has printed greater than 50 in-depth weight reduction market research and holds teleconferences concerning the market. Custom analysis tasks and consulting are additionally supplied. Mr. LaRosa has consulted for a lot of giant and small weight reduction corporations, physicians, start-ups and entrepreneurs and the media. Marketdata additionally operates a free weight reduction information web site: DietBusinessWatch.com.
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- Contact Information
- John S. LaRosa
- Research Director
- Marketdata LLC
- (1) 8139718080
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