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. 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. 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... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Industry value added is estimated to increase at an annualised 2.1% in the 10 years through 2013-14, which is lower than estimated national GDP growth over the same period of 2.5%. Therefore, the industry is in the mature phase of its life cycle. Industry revenue growth has proven remarkably resilient to drops in consumer sentiment and economic uncertainty in past years. Also, industry growth continues to be mainly driven by females, with males estimated to only account for 20.0% of industry revenue in 2013-14, despite the very high obesity level.
The industry's products and services have been wholeheartedly embraced for some time, yet consumers continue to spend more on weight loss than ever... purchase to read more