As we transition into the 2013 "diet season", it's time to look back at what happened in the weight loss market in 2012 and look forward to what's in store for 2013. This next year promises to be as dynamic as ever, as diet companies tweak their programs with a new twist for the new year, new companies enter the market, advertising campaigns ramp up, new diet books are written, drug companies continue their search for the magic pill, and dieters look for the "next big thing".
We will not go into ALL the details and forecasts here, but here are a few of our predictions:
The total U.S. weight loss market is expected to grow 4.5% in 2013, to a value of $66.5 billion, as consumer discretionary income increases, new diet drugs enter the market, and the large players such as Weight Watchers boost enrollments. We see good growth in medical programs, and heavy advertising that should fuel demand.
The men’s weight loss market is estimated to be worth $11.3 billion next year—17% of the total diet market.
Marketdata expects two newly approved prescription diet drugs, Bleviq and Qysmia, to enter the market in 2013, adding $200 million to the size of the previously stagnant $450 million U.S. obesity drugs market.
More foreign companies will enter the U.S. weight loss market this year. Several, such as Slimming World (U.K.), ITrim (Sweden), and The Dukan Diet (France) have already set up operations, either as brick & mortar centers or online.
More technology-based weight loss programs will appear in 2013, that are well funded by venture capital firms. One example is Retrofit. They will attempt to sell not only direct to consumers but via large healthcare systems and corporate wellness departments.
For the complete Press Release that just came out today. See the attachments for a table covering the 2011 diet market segments' values.
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Wishing you all a healthy & happy & prosperous 2013!
John LaRosa, President, Marketdata