Industry Analysis

Latest progress is added at the top so to start from the conception of the idea, it is at the bottom of this page.

I have just found out on Healthline, that the many weight loss apps are based on databases of millions of manufactured foods, which can be scanned into the app to tell people how many calories and macronutrients each contains.

Manufacturers do not provide micronutrient information, which means to provide app users with this info, their entire databases would need to be overhauled.

There is more to running a successful business than just money – but funding is important to get the product and company working at their best

This puts Hearth Nutrition (click for website) at an advantage, as it is based on a real food database with each item carrying its micronutrient and macronutrient information through the app.

Hearth Nutrition cost $50 a month to test the idea and research on Appsheet, (click to view research for idea in mobile format) where users can find nutrition information to use as they like.

The design of the app is shown in the blog section here.

It took me a while to understand what industry analysis to focus on. Thanks to a tutor explaining how early on it is about awareness, not answering the industry with a particular idea, I managed to do a Porter’s Five Forces, a TOM, SOM, SAM analysis and a PESTLE study.

TOM, SOM, SAM is: Total Obtainable Market, Serviceable Obtainable Market and Serviceable Achievable Market analysis. PESTLE, as am sure you already know, is Political, Economical, Social, Technological, Legal and Environmental.

After learning these, I had a new scope to view my idea more objectively, to see how it might fight in the market and to begin to find out if there was a market for it.

What I learned from Porter’s and the PESTlE analyses was that the market was as it was, with 4% of health app market was for weight loss and healthy eating. Therefore, I looked at the total market for the top 10 health apps, with MyFitnessPal at the top and 4 other diet apps making $6.5million in March 2020.

There was also a large untapped market of 78% people who said they would do use a connected device to get reminders to do something to stay healthy (prevention) while 68% had never used their phone for any apps at all. 11% of all app users had downloaded a health and fitness app.

This suggested a relatively new but small market share for health apps, particularly ones for weight management and healthy eating. The three big competitors emerging and currently advertising on TV are Noom, Second Nature (NHS endorsed to deliver OurPath diet) and WeightWatchers.

This was a long way to come towards business thinking, away from my journalist thinking, which started my idea, wanting to expose the vicious circle of misguided official advice, which, I believe, makes my idea for a proactive, self-care nourishment app vital right now. My market analysis shows why women have become the most important market to cater for.

All three of these are subscription only and claim not to be like the many diet monitors and calorie counting apps out there, such as market leader MyFitnessPal.

As well as the industry analysis contributing towards the market analysis, it also provides suggestions as to whether a new idea would need to be free with in-app ads and purchases, freemium and subscription, free 30 day trial and then subscription or subscription only to protect their information.