June 12, 2020
Marketdata has released a new 65-page study: Status of The U.S. Weight Loss Market: Effects of The Pandemic. This is a complete analysis and forecast of ALL major segments of the U.S. diet market.
“The Covid-19 crisis has forced many weight loss businesses to accelerate their operations toward the virtual delivery of services. Those that can’t make this pivot will not survive this recession.”, according to Research Director, John LaRosa.
The total U.S. weight loss market reached new highs of $78 billion in 2019. However, with shut-downs that began in March, the market is expected to decline 9% in value to $71 billion this year. Some market segments have actually prospered.
Commercial chains… Revenues of the major commercial weight loss chains such as WW, NutriSystem, Jenny Craig, Medifast and others are forecast to dip 2.3% to $3.9 billion in 2020. WW Intl. and Medifast are expected to post the best results, while Jenny Craig may be hardest hit.
Meal replacements and OTC diet pills... sales are forecast to grow by 5.4% this year, to $5.25 billion--with meal replacements growth outpacing diet pills. These products have largely escaped effects of the pandemic due to their price, easy availability at grocery and convenience stores, and MLM channels, which remained open during the pandemic.
Medical weight loss programs… The value of all medical weight loss programs is forecast to decline 16.3% in 2020 to $7.78 billion. This segment of the weight loss market was hit hardest, due to 8-10 week closures of programs based in hospitals, clinics, and physician offices. Hospitals were scrambling to service Covid-19 patients, not weight loss patients. Weight loss surgeries are forecast to fall by 17%.
Low-calorie frozen dinner entrées… Sales of frozen diet dinners are actually booming. They are forecast to grow by 12% in 2020 to $2.6 billion, as consumers shift to greater usage of convenient and frozen foods.
Dieter Behavior Shifts… The Coronavirus has caused some significant changes in consumer behavior. The “traditional “diet season” has been shifted from January-May to the Summer and Fall. In addition, consumers are stocking up on frozen food they shunned just a few years ago. They are accessing weight loss and exercise programs much more via apps, webinars, websites, live streaming, coaching by phone and via home workouts.
About The Report:
The study is 65 pages in length. It costs $595. Available in pdf format. A free table of contents is available by email. Contact: Marketdata LLC, 7210 Wareham Drive, Tampa, FL 33647, (813) 971-8080. John LaRosa is available for interviews.
To Order Online: See report FS72 at the Marketdata website. here: