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Weight Loss Market Rebounds in 2021 From 25% Decline in 2020 – New Report

March 5, 2022

Marketdata’s new report, The U.S. Weight Loss Market: 2022 Status Report & Forecast (March 2022, 90 pp.) has just been released.

Major Findings:

The value of the U.S. weight loss market is estimated to have declined by a historic 25% in 2020, to $58 billion. as a result of closures of weight loss centers and medical programs. However, in 2021 the market recovered nearly all of that, up 24% to $72.6 billion. The market is forecast to grow 3.6% this year, to $75 billion.

Much of this decline was due to the $20 billion in lost revenue by health clubs and gyms, which were shuttered due to the pandemic. This segment of the market suffered the biggest hit.

Some market segments actually prospered due to shifting dieter behaviors – frozen dinner entrees, meal replacements, obesity medications, weight loss apps and other virtual services, and multi-level marketing channels. Just two MLM companies, Medifast and Herbalife, posted sales of $2.3 billion in weight loss products during 2021.

Revenues of the largest commercial weight loss chains such as WW, NutriSystem, Jenny Craig, Medifast and others held up well in 2020, only down by 2.3%.  Leaders are shifting to hybrid models that combine virtual/digital and in-person services, thus necessitating more investment in technology. Virtual services are more profitable and those firms relying mainly on brick & mortar weight loss centers face increasing costs and pressures. Commercial chains posted sales of $4.5 billion in 2021.

Weight Watchers loses largest diet company rank – Medifast revenues surpass Weight Watchers for first time, at $1.5 billion to WW’s $1.2 billion in 2021.

The value of all medical weight loss programs fell about 16% in 2020 due to the pandemic., to $7.58 billion. Programs by hospitals, clinics, and MD offices were especially hard hit, down 30%. All segments of the medical market will grow and recover this year from depressed 2020 levels, especially bariatric surgeries and prescription obesity drugs.

The prescription weight loss drugs market is forecast to grow to $905 million  in the U.S., fueled by new drugs by Novo Nordisk.

Meal replacements and OTC appetite suppressants’ combined sales, $5.3 billion, are forecast to grow by less than 1% this year, with meal replacements shakes and nutrition bars faring better than retail weight loss supplements diet pills. These products have largely escaped effects of the pandemic due to their availability at grocery and convenience stores, MLM channels, and online – channels that remained open during the pandemic. Their easy accessibility and low price also helped.

Buy This Report Now – For In-depth Analyses of All Weight Loss Market Segments – Price: $795

Go to the Marketdata store and choose report number FS 76. See the Table of Contents at the Studies page of this website (Services tab). Purchase and get an instant download.

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