• A new survey reveals significant GLP-1 adoption among lower-income Americans, challenging assumptions about affordability.
  • User data shows profound shifts in dietary habits, with 70% dining out less and cutting hundreds of daily calories.
  • The restaurant industry, particularly fast food and pizza chains, faces potential sales pressure as drug usage grows.

A recent survey of 1,000 U.S. GLP-1 users by BTIG has uncovered a surprising demographic trend: one-third of patients taking the blockbuster drugs have annual household incomes below $45,000. This finding indicates access is broadening well beyond affluent consumers, despite list prices that can run from $500 to $1,000 per month.

The expanded access appears to be driven by two key factors. For qualifying patients, Medicaid coverage is absorbing the high cost. For many others, cheaper compounded versions of the active ingredients, available for around $130 per month, are providing a critical workaround. "The income demographics are lower than we would have anticipated," said a person familiar with the survey's findings, highlighting a faster-than-expected market democratization for drugs like Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Mounjaro.

This widening user base is accelerating profound changes in consumer behavior. According to the survey data, 70% of GLP-1 users report dining out less frequently. Their consumption of specific categories has plummeted, with 68% cutting back on soda, 67% on pizza, 63% on alcohol, and 58% on snacks. The majority of users say they are consuming 300 to 800 fewer calories each day.

The collective impact of these behavioral shifts is beginning to worry segments of the food and beverage industry. BTIG analysts estimate that widespread GLP-1 use could lead to a 120 to 230 basis point headwind for sales at restaurants, with fast food and pizza chains seen as most vulnerable. Health-focused concepts like Chipotle and Sweetgreen may be better insulated, but the overall trend points to a challenging new variable for consumer discretionary spending.

With an estimated 5-10% of U.S. adults now using a GLP-1 drug and the market projected to grow at a double-digit pace, these consumption changes are likely not a fleeting phenomenon. Efforts to reach BTIG analysts for further comment were not immediately successful. The survey results suggest that the financial implications of the GLP-1 revolution will extend far beyond the record-breaking revenues of pharmaceutical giants, directly pressuring the bottom lines of companies that rely on high-calorie, impulse-driven consumption.