U.S.
Weight Loss & Diet Control Market is Worth Billions
April 17, 2005
According to Marketdata, a market research firm , the
U.S. Weight Loss Market was worth $46.3 Billion in 2004
and is forecasted to reach $61 Billion by 2008. As the
statistics of American obesity
continue to rise, weight loss enthusiasts have more
weight loss programs and options than ever before to
choose from.
As Market data has found that it is boom time for the
weight loss industry. Although in the past, the market
witnessed upheavals. The main factors contributing to
the turbulence in the market since 2002 include: The
number of weight loss or "bariatric" surgeries
has skyrocketed, to a record 140,000 procedures last
year. The low-carb food trend turned out NOT to be a
short-term fad but a "movement" and lifestyle
with more staying power than anyone ever expected. But
now it has peaked and is on the decline. The government"s
ban of Ephedra, one of the main ingredients in OTC diet
pills, had a major impact on this market, and companies
such as Metabolife. Americans began consuming more diet
soft drinks, and their share of the total soft drink
market has reached near historical highs.
Marketdata has forecasted for 2005 that dieters will
not get any new "magic weight loss pill" as
the low carb craze fade. . The prescription diet drug
closest to market is Rimonabant, which should hit the
U.S. market in 2006.
As far as weight loss surgery is concerned, though
Bariatric surgeries reached record levels in 2004 ,
they will fall by 15% in 2005 as a result of many major
insurers ceasing to cover these surgeries. But the growth
will resume in 2006 as surgeons and hospitals sort out
how to offer financing plans to consumers or get them
to pay out of pocket.
The market of OTC retail diet pills will experience
a 16% growth. In the past the market was hit hard in
2003 by the ban of ephedra and sales dropped. Right
now, the products which are picking up include African
herb Hoodia Gordonii and brands like Trim Spa, Cortislim,
Hyroxycut and Xenadrine. By 2008, this segment should
grow 11.5% per year, to $703 million.
Weight loss support groups like Weight Watchers, LA
Weight Loss, Jenny Craig and others are gaining popularity.
Marketdata estimates that weight loss centers revenues
will grow 11% to $2 billion. An estimated 7.1 million
American dieters use such programs. Small local or regional
chains of 10-50 centers are growing as well.
Diet Plans are popular options for the more affluent
dieters. A handful of companies such as Zone Chefs,
NutriSytem, Jenny Direct (Jenny Craig), Seed Live Cuisine,
Sunfare, and Nutropia are cashing in on this booming
market.
If you are interested to know more about the weight
loss industry, you can read a related article by clicking
on this link:
http://www.newstarget.com
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