15 Biggest Diet/Weight Loss Companies in the World

Published on December 14, 2022 at 8:33 am by Fatima Farooq in Lists, News

In this article, we will be taking a look at the 15 biggest diet/weight loss companies in the world. To skip our detailed analysis of these companies, you can go directly to see the 5 Biggest Diet/Weight Loss Companies in the World.

Over the years, there has been a growth in popularity when it comes to dieting and weight management. With this growing popularity, there is also an observable increase in the categories of products and services available to a typical dieter when it comes to weight loss. The list of these products and services is endless, starting from fitness equipment and clothing and ending at tailored meal plans and weight loss drugs. According to CNBC, every year, 45 million people in the US begin a weight loss program. As a result, the dieting and weight loss industry grew in valuation to about $71 billion by 2021.

There is no shortage of companies operating in the dieting and weight loss industry. Big names in athletic footwear, such as NIKE, Inc. (NYSE:NKE), biotech companies, such as Amgen, Inc. (NASDAQ:AMGN), and healthcare companies, like Eli Lilly and Company (NYSE:LLY), are only among a few renowned names venturing into this sector. These companies are attempting to profit from the impact social media has had on the social perception of beauty standards, which almost always include fitness and health. As a result, key players within the weight loss industry are finally beginning to gain momentum.

WW International, Inc. (NASDAQ:WW), Atkins Nutritionals, and Medifast, Inc. (NYSE:MED) are some of the key players in the traditional weight management sector, and all of these companies have been deemed as market leaders with respectable revenue generation. Atkins Nutritionals generated about $2.7 billion in revenues in 2021 alone, while Medifast, Inc. (NYSE:MED) has generated total revenues of $7 billion. The weight loss industry has always had the potential for high profitability. According to a New York Times article published in 2021, the overall US diet industry hit a new record of $78 billion in valuation in 2019. This figure suffered a loss of 21% in 2020 with the onset of the pandemic. However, there is high optimism in the market that the weight loss industry is already on its way to reclaiming its pre-pandemic highs.

Photo by Brooke Lark on Unsplash

Let’s now take a look at the 15 biggest diet/weight loss companies in the world.

Our Methodology

We have used the estimated valuation of the companies selected below to rank them on our list, from the lowest to the highest valuation. The companies are a mix of privately-held and publicly traded companies. They were selected on the basis of their revenues, net incomes, product success, and more.

Biggest Diet/Weight Loss Companies in the World

15. Slimming World

Estimated Valuation as of December 11: $12 million

Slimming World is a weight loss company based in Derbyshire, England. The company is a provider of diet-based foods to help people lose weight without going hungry. It also holds weekly social groups where its customers can share their ideas and discover new, healthy lifestyles.

The company has 250 employees in its head office and field management, alongside 3,500 consultants. Slimming World has an audience comprised of 43.24% male customers and 56.76% female customers. As of this year, the company’s revenue stands at $921 million.

Slimming World, like NIKE, Inc. (NYSE:NKE), Amgen, Inc. (NASDAQ:AMGN), and Eli Lilly and Company (NYSE:LLY), is a successful weight loss company with its own dedicated consumer base in England.

14. ABL Health

Estimated Valuation as of December 11: $12 million

ABL Health is a health consulting company based in Farnworth, England. The company provides a range of healthcare services, such as diet consulting, disease management, and physical therapy. It has a dedicated weight management segment to oversee weight loss programs for its clients.

The company is medium-sized, with about 250 employees. It has worked with 50,000 clients in its weight management segment alone. ABL Health has revenues of $18 million as of this year.

13. WW International, Inc. (NASDAQ:WW)

Estimated Valuation as of December 11: $272.23 million

WW International, Inc. (NASDAQ:WW) is a consumer discretionary company providing weight management products and services globally. It is based in New York.

On November 8, DA Davidson’s Linda Weiser reiterated a Buy rating on WW International, Inc. (NASDAQ:WW) shares.

WW International, Inc. (NASDAQ:WW) has begun a cost-cutting strategy this year that is estimated to save $35 million per year. The company has also been working to better understand the market environment for weight management products, while improving its product marketing.

Renaissance Technologies was the largest stakeholder in WW International, Inc. (NASDAQ:WW) in the third quarter, holding 1.9 million shares worth $7.6 million.

Miller Value Partners, an investment management firm, mentioned WW International, Inc. (NASDAQ:WW) in its third-quarter 2021 investor letter. Here’s what the firm said:

“WW International Inc. (WW) fell 48.75% during the quarter. The company reported 2Q results with revenues of $311M below consensus of $337M, with adjusted operating income of $65M below expectations of $82M. The miss came from the fact the company expected there to be a rebound in demand for weight loss as the economy started to open up but it turned out people were more focused on being social. The company guided for 2021 revenue of $1.3B near consensus of $1.28B with GAAP EPS (generally accepted accounting principles earnings per share) of $1.10-1.25 ($1.63-$1.78 excluding impact of early extinguishment of debt) versus consensus of $2.05. The company ended the quarter with the announcement that Mindy Grossman would be stepping down as President and CEO after the first quarter of 2022. The company is the process of searching for her replacement.”

12. Jenny Craig Inc.

Estimated Valuation as of December 11: $300 million

Jenny Craig Inc. is a nutrition company based in Carlsbad, California. The company owns over 700 weight management centers in Australia, the US, Canada, and New Zealand.

The company’s audience has been recorded as comprising 44.04% males and 55.96% females. Jenny Craig Inc. is also among the largest companies in the weight management sector, with about 3,000 employees and revenues standing at $483 million in 2021.

11. GNC (General Nutrition Centers)

Estimated Valuation as of December 11: $500,000,000

GNC (General Nutrition Centers) is a retail company with its headquarters in Pittsburgh, Pennsylvania. The company focuses on health and nutrition-related products, including diet and energy products, vitamins, supplements, and more.

Founded in 1935, GNC (General Nutrition Centers) has since then grown into a large company in the weight management industry. As of 2021, the company had over 16,000 employees. It also generated revenues of $2.5 billion in 2021.

10. Atkins Nutritionals

Estimated Valuation as of December 11: $1 billion

Atkins Nutritionals, founded by Robert Atkins in 1989, is a company focused on promoting the low-carbohydrate packaged foods of the Atkins diet. The company sells low-carbohydrate bars, shakes, and snacks.

Atkins Nutritionals became part of the Simply Good Foods Company in 2017. By 2021, the company reported a total of 18,300 employees and revenues of $2.7 billion. It is privately-held.

9. Herbalife Nutrition Ltd. (NYSE:HLF)

Estimated Valuation as of December 11: $1.24 billion

Herbalife Nutrition Ltd. (NYSE:HLF) is a consumer staples company based in Los Angeles, California. It offers nutrition solutions in North America, Mexico, South and Central America, Europe, the Middle East, China, and the rest of Asia Pacific. The company’s products include weight management products, targeted nutrition products, and more.

A Buy rating was reiterated on shares of Herbalife Nutrition Ltd. (NYSE:HLF) on November 1 by analyst Jeff Van Sinderen at B. Riley.

Herbalife Nutrition Ltd. (NYSE:HLF) expects revenue growth recovery in the fourth quarter. It is also working on cost management and price growth to help maintain profitability at higher levels. Herbalife Nutrition Ltd. (NYSE:HLF) owns operations in 95 countries through its impressive network of 4.5 million independent distributors and members. As of this year, the company has generated annual revenues of over $5 billion.

Route One Investment Company was the largest stakeholder in Herbalife Nutrition Ltd. (NYSE:HLF) in the third quarter. The fund held 10.8 million shares worth $215.7 million.

8. NutriSystem Inc.

Estimated Valuation as of December 11: $1.3 billion

NutriSystem Inc., founded in 1972 by Harold Katz, is a commercial provider of weight loss products and services. The company is based in Fort Washington, Pennsylvania. It traded on the Nasdaq index under the NTRI ticker, but it is currently not trading publicly.

The company has over 400 employees as of this year. NutriSystem Inc.’s largest market share is in the online weight loss services industry, where it accounts for about 23.7% of total industry revenue. In 2021, the company claims to have helped its customers lost over 1 million pounds.

7. Medifast, Inc. (NYSE:MED)

Estimated Valuation as of December 11: $1.3 billion

Medifast, Inc. (NYSE:MED) is a consumer staples company based in Baltimore, Maryland. The company manufactures and distributes weight loss, weight management, healthy living, and other consumable health and nutritional products in the US and the Asia-Pacific.

Linda Weiser, an analyst at DA Davidson, holds a Neutral rating on shares of Medifast, Inc. (NYSE:MED) as of November 4.

As of this year, Medifast, Inc. (NYSE:MED) has managed to generate total revenues of $7 billion, and the company is among the leaders in the weight loss sector due to its sheer size and product success. The company has grown by over fivefold since 2017, and is continuing to remain profitable. In 2017, its revenues stood at $300 million. In 2021, the revenues for the year had increased to $1.52 billion. It has no debt as of this December.

In the third quarter, Renaissance Technologies was the largest stakeholder in Medifast, Inc. (NYSE:MED) as well. The fund held 683,810 shares worth $74.1 million.

Miller Howard Investments, an investment management firm, mentioned Medifast, Inc. (NYSE:MED) in its third-quarter 2021 investor letter. Here’s what the firm said:

“AFTER A METEORIC RISE OVER THE PAST YEAR, small-cap stocks reversed course with the Russell 2000 Index down -4.4% for the quarter. Much of the downdraft was focused on stocks that had done well in the pandemic environment but lost favor with investors who see a recovery on the horizon. Our largest detractors have all benefitted from pandemic-driven demand. Medifast (MED), a provider of weight loss programs and our second biggest detractor, traded off this quarter over worries that their success has been bolstered by people working from home.”

6. Technogym

Estimated Valuation as of December 11: $1.5 billion

Technogym, based in Cesena, Italy, is a company selling equipment and technologies for fitness, sport, and health. The company has been the official supplier of eight Olympic Games, including the Tokyo 2020 games. It was founded in 1983 by Nerio Alessandri.

Recent estimates show that the company has about 2,300 employees. In 2021, Technogym generated revenues of $438 million. The company has managed to increase its market share in the commercial fitness equipment industry from 18% to 21% between 2015 and 2018.

Technogym, like NIKE, Inc. (NYSE:NKE), Amgen, Inc. (NASDAQ:AMGN), and Eli Lilly and Company (NYSE:LLY), is a weight loss and fitness company with global recognition and high growth prospects.

Click to continue reading and see the 5 Biggest Diet/Weight Loss Companies in the World.