Weight Loss Services in Australia - Industry Market Research Report

Recovery: Despite stiff external competition eating into profit, the industry will return to growth

Obesity-related health issues are one of the leading causes of illness and premature death in Australia. That's why many Australians have sought ways to manage their weight, including through providers in the Weight Loss Services industry. Revenue is expected to fall at an annualised 1.5% over the five years through 2022-23, to $483.0 million. This trend includes a projected slump of 6.3% in the current year owing to increasing external competition, like meal kit providers, the new generation of weight loss drugs and non-industry weight loss advisory services. These days the young and senior demographics are becoming highly attentive to their health by keeping their diet healthy by consuming natural and nutritious foods. Healthy eating practices can help people lose weight without relying on medicines and therapies, limiting industry revenue. The effects of the COVID-19 pandemic boosted industry revenue over the two years through the end of 2020-21. Grocery shortages at major supermarkets and social distancing measures encouraged consumers to take up meal provision services. Weight loss providers include any company offering goods or services promoted as a weight loss solution, including online providers. Apart from traditional weight loss advice and counselling services, industry companies also offer food and beverages targeted at those wishing to lose weight. The industry does not include gyms, personal trainers and other exercise-oriented companies. The industry also excludes pre-prepared meal services not specifically marketed for weight loss purposes. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.