Weight Loss Services in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) August 27, 2013
According to the Australian Bureau of Statistics, more than 70.0% of Australian males and 56.2% of females are overweight or obese. For both health and cosmetic reasons, there is growing pressure on Australians to change this statistic. An ever-growing amount of consumer spending is being directed towards getting thinner and healthier. IBISWorld industry analyst Alen Allday states “during 2013-14, Australians are estimated to spend $ 643.7 million on weight-loss counselling services, low-calorie foods and dietary supplements in their quests to slim down.” This is up 3.6% from the previous year, and with annualised growth of 2.8% over the past five years. Stronger industry growth has returned in 2012-13 and 2013-14 following two years of low growth in 2010-11 and 2011-12, when uncertain consumers cut back on discretionary spending.
Growth for the Weight Loss Services industry continues to be driven by its traditionally prominent companies, such as Weight Watchers and Jenny Craig. However, competitors such as Lite n’ Easy and Tony Ferguson have also gained market share through the development of new dietary products and services. According to Allday, “Australians are seeking out innovative, convenient and more effective methods of weight loss than those that have been on the market for some time.” Opinions are mixed regarding the effectiveness of low-fat foods that have high-sugar content, and the role exercise plays in long-term weight loss without reducing sugar consumption. Another key trend has been the move by traditional weight-loss companies towards the development of low-calorie or fat-free food, drinks and supplements, and the incorporation of these products into their counselling services.
The two largest weight-loss companies, Weight Watchers and Jenny Craig, are well-known operators in the Weight Loss Services industry and offer a range of weight-loss products and services. As Australians continue to spend more on weight-loss solutions, there has been a steady supply of new products and services. There has been a steady increase in the number of smaller competitors entering the market to capture some market share from the large firms. There has been a large increase in the number of online companies offering quick-fix weight-loss pills and solutions, as well as online targeting of potential customers to these products. However, industry associations, medical experts and consumer groups have questioned the veracity and legitimacy of many of these products, with the largest companies tending to overcome many of these competitors. This has resulted in industry concentration increasing in the past five years. The major industry players are Nestle Australia (Jenny Craig), Weight Watchers and Lite n’ Easy. For more information, visit IBISWorld’s Weight Loss Services report in Australia industry page.
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IBISWorld industry Report Key Topics
Weight-loss providers include any company offering goods or services specifically targeted as a weight-loss solution. As well as traditional weight-loss advice and counselling services, companies offer a variety of foods and beverages targeted at those wishing to lose weight. This industry does not include gyms, personal trainers and other exercise-oriented companies.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
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