Thin future

The growing adoption of weight loss drugs that suppress appetite is likely going to impact consumers’ food and beverage purchasing behavior. Numerator and Morgan Stanley analyzed panel data across about 150,000 shoppers in the US and found shoppers with obesity, who will be the major recipient of weight loss drugs, buy substantially more candy (+16%), frozen foods (+10%), shelf stable meals (+9%) and beverages such as soft drinks (+8%). Additionally, shoppers with obesity buy significantly fewer beans & grains (-20%), seafood & fish (-16%), alcoholic beverages (-16%) and fresh produce (-10%). This suggests we could see a notable reduction in categories that are less healthy and an increase in healthier categories when weight loss drugs are widely taken by obese people, especially in the US where about 40% of the adult population suffers from obesity.

Source: Numerator, Morgan Stanley, 2023.