Industry Analysis & Industry Trends
According to the Australian Bureau of Statistics, more than 70.0% of Australian males and 56.2% of females are overweight or obese (Australian Health Survey 2011-12: 4364.0). For both health and cosmetic reasons, there is growing pressure on Australians to change this statistic. An increasing amount of consumer spending is being directed towards becoming thinner and healthier. During 2014-15, Australians are expected to spend $603.3 million on weight-loss counselling services and related low-calorie foods and dietary supplements. This is up 1.4% from the previous year. Over the five years through 2014-15, industry revenue is expected to grow by an annualised 0.6%. Revenue declined in 2012-13, as consumers cut back on discretionary spending, but returned in 2013-14... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Industry value added, which is the industry's contribution to national GDP, is expected to increase at an annualised 0.4% in the 10 years through 2019-20, which is lower than estimated national GDP growth over the same period of 2.7%. Therefore, the industry is in the mature phase of its life cycle. Industry growth continues to be mainly driven by females, with males estimated to only account for 21.0% of industry revenue in 2014-15, despite the very high obesity level.
The industry's products and services are well known and prominent, yet consumers continue to spend more on weight loss than ever... purchase to read more