A part of the burden loss market was hit onerous in 2020. Buyer volumes at medical weight reduction packages based mostly in hospitals, franchises and regional chains, and doctor places of work plummeted. Nevertheless, there have been brilliant spots, specifically: industrial chains that pivoted to digital conferences and residential supply and drop delivery of weight-reduction plan meals, multi-level entrepreneurs, booming retail gross sales of frozen weight-reduction plan dinners, and shelf secure meal replacements.
The Covid-19 disaster compelled many weight reduction companies to speed up the shift towards digital supply of providers. Dieters are accessing weight reduction teaching and train packages far more by way of Zoom conferences, Skype, apps, webinars, web sites, reside streaming, teaching by telephone, and residential exercises.
6 Issues to Know In regards to the U.S. Weight Loss Trade
1. Revenues of main industrial weight reduction chains really held up nicely final yr, rising by an estimated 6.8% in 2020 to $4.07 billion. These embody chains corresponding to WW, Nutrisystem, Jenny Craig, Medifast, and others.
2. Gross sales of frozen weight-reduction plan dinners and low-carb meals are estimated to have risen to $2.1 billion, as homebound shoppers stocked up on them for comfort throughout the pandemic.
3. Hospitals and clinics cancelled elective surgical procedures corresponding to weight reduction procedures, as a result of they had been targeted on treating COVID-19 sufferers. Consequently, this phase of the market fell 20% from $8.8 billion to $7.1 billion in 2020. Bariatric surgical procedures declined from 256,000 to an estimated 205,000.
4. Revenues of well being & health golf equipment took a serious hit, declining by 37% from $35 billion to $22 billion, as a consequence of pandemic-related closures. This is likely one of the hardest hit segments of the burden loss market, as these amenities had been among the many first to shut and among the many final to reopen for enterprise. An estimated 17% of well being golf equipment went out of enterprise final yr within the U.S.
5. Multi-level advertising and marketing firms represent a serious pressure within the weight reduction market, with the highest 8 corporations accounting for $3.4 billion in 2020 gross sales. Included on this group are Medifast, Herbalife, Shaklee, BeachBody, AMWAY, USANA, Isagenix, and extra.
6. Meal replacements and retail urge for food suppressants (fat burners) gross sales remained secure in 2020. They’ve largely escaped results of the pandemic as a consequence of their simple availability and low worth. MLM and web/mail order channels remained open throughout the pandemic. Meal replacements (corresponding to shakes and vitamin bars) accounted for $3.0 billion, and retail fat burners accounted for $2.08 billion in gross sales.
Discover Out Extra
New for this version:
- Results of the pandemic on operations/revenues for all market segments
- How dieter conduct modified with the pandemic
- 2021 & 2025 forecasts
- The most well-liked diets like Keto and intermittent fasting
- Main competitor high administration interviews
- How the 2021 weight-reduction plan season is shaping up
- Why MLM has gained as a distribution mannequin
- Why meal replacements are nonetheless robust, however not retail fat burners.
- Outlook for medical weight reduction packages of all sorts and why they’ve misplaced momentum
Go to the report web page to learn the total summary and study extra.
In regards to the Creator: John LaRosa is the President of Marketdata LLC and is the creator of 100+ business and market research. His analysis seems in high media shops together with ABC, CNN, Fox, Forbes, USA Immediately, The Wall Avenue Journal, The New York Occasions, and quite a lot of commerce journals.