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Top Trends in the Highly Competitive Weight Loss Industry

Staying in shape, getting fit, being active, and eating healthy is one of the most hyped things in the world. The fitness craze has consumed a majority of the world’s population, with people trying a variety of methods to achieve one single goal: weight loss. People’s willingness to spend considerably to achieve weight loss has created a lucrative market for players in the weight loss industry. The opportunity for weight loss supplement manufacturers, training program moderators, healthcare brands, and fitness equipment manufacturers has opened up significantly as the majority of the world’s population is rapidly jumping on the fitness bandwagon. Numerous reports estimate the weight loss market in the US itself to be worth $66 billion. High rates of obesity, low unemployment, higher disposable income, and sedentary lifestyles are boosting the market for the weight loss industry. As a result, numerous brands have made attempts to enter and gain a foothold in this lucrative market, making it intenselyIR_Brochure competitive. So here are the trends you should be familiar with to gain an upper hand in this market.

Continuing popularity of meal replacement products

Health brands have been successful in placing meal replacement product as a healthy alternative to regular foods. Although the cost runs on the higher side, meal replacement offers benefits of being portable and healthy. A meal replacement product has an adequate amount of protein with lower carb and fat content, which eventually helps in meeting the weight loss goals. It is estimated that the sales of shakes and bars will outgrow the sales of OTC diet pills by the year 2022. The market for meal replacement products is experiencing a healthy growth and is already worth $4 billion in the US.

The rise of complex carbohydrates

For a long time, fats were looked upon with an evil eye as they are responsible for obesity. However, numerous studies have diverted the attention to carbohydrates – simple carbohydrates to be precise. Numerous government food authorities have also credited the survey by warning the public of the dangers of over-consumption of simple carbohydrates. As a result, companies have been focusing on products with complex carbohydrates including whole grain oatmeal, pasta, and bread.

Rise of multi-level marketers

The multi-level market for weight loss products in the US itself is worth $2 billion with multiple companies entering the market each year. The rising cases of obesity are urging consumers to help other consumers to lead a healthier lifestyle. The multi-level marketing in the weight loss industry is picking up the pace because people tend to give more weight to success stories of individuals rather than try weight loss products which are advertised. Companies such as Shaklee, Herbalife, and Isagenix are pioneers of this multi-level marketing programs in the weight loss industry.

The millennial way of dieting

The modern-day weight loss efforts are considerably different than the weight loss programs followed by the Baby Boomers. The Millennials are more focused on clean eating, convenience, exercise, and avoiding sugars and highly processed foods. The limited income of the Millennials would urge them to favor inexpensive and convenient diet plans. As a result, the market for diet websites and apps, OTC meal replacement, zero calorie drinks, and low-fat foods are growing.

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Current Trends and Challenges to Watch Out for in the Fast Food Industry

Looking back, there has been a drastic change in the food-habits people have been following around the globe over the years. With the dawn of the fast food revolution, pizzas and burgers have been ruling the taste buds of people around the world. However, this trend took a ‘U-turn’ back to healthy eating habits because of the growing health concerns and increasing popularity of healthy food among consumers. But this drastic change has not taken a severe toll on the fast food industry yet. Globally, the fast food industry generates revenues of over a whopping $570 billion – which is higher than the economic value of most countries. According to Technavio’s report on global quick service restaurant market 2016-2020, the global quick-service restaurants market is expected to grow at a CAGR of almost 4 % during the period. Join us as we explore some of the latest trends and challenges in the fast food industry:Contact US

 

Fast Food Industry Trends

With increasing competition in the fast food industry, innovation and change have become inevitable to keep your customer base in place. The players in the fast food industry are continuously experimenting with new techniques, which will help them to attract potential customers and simultaneously maintain the loyalty of existing ones. Below are some of the trends that are influencing companies in the fast food industry:Trends and Challenges to Watch Out for in the Fast Food Industry

  • Speedier payment methods The idea of reducing the wait-time in service was one of the primary drivers that led to the birth of the fast food Brands operating in the fast food industry are trying to formulate new ways in which they can make transactions faster and easier. Several companies have formulated methods and apps by which customers can now directly pay through their phones by enabling quicker transactions.
  • Revamped menu cards – The tug of war between the demand for healthy food and tasty, indulgent ones are forcing players in the fast food industry to add a pinch of nutritional touch to their products. The whole idea is to prevent the loss of customers due to their inclination towards healthy food habits.
  • Automation in fast food – Several popular food chains such as McDonald’s have already introduced automation through self-order kiosks in their outlets to make the food ordering process simpler and quicker. Automation in the fast food industry will reduce the risk of order errors and also reduce the wait time for customers.

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Competitor Analysis for A Leading Food Industry Client Helps Monitor Competitors Pricing Strategies and Develop Sustainable Value

The Business Challenge 

A renowned client in the food industry with a considerable number of products offerings across the globe was facing certain predicaments gaining a detailed analysis of the competitors and their sales and market shares. The client wanted to develop robust promotional and marketing strategies to gain a competitive advantage over the competitors. Moreover, the client wanted to profile major competitors in the food industry, assess the latest food industry trends and understand their current marketing initiatives. With the help of competitor analysis, the client wanted to analyze food companies’ performance and their capabilities and make a comparison of the competitors in terms of the qualitative and quantitative parameters.

Solutions Delivered 

The competitor analysis engagement offered by Infiniti helped the client gain a competitive edge over their counterparts. The food industry client was further able to maintain and develop a sustainable value for the products offered. Moreover, with the help of the competitor analysis banner IRengagement, the client was able to build a more comprehensive business strategy and ensure better consistency for the products offered.

To profile potential competitors and develop robust strategies based on the analysis of competitors, Infiniti’s competitor analysis experts carried out extensive qualitative and quantitative research with leading stakeholders in the food industry. Furthermore, to gain a deeper understanding of the potential competitors, the experts at Infiniti also compiled information across a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.

Benefits of Competitor Analysis for Food Industry

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