Growing number of Americans are taking GLP-1 drugs like Ozempic for weight loss: McDonald’s is feeling the pain

There’s a new appetite suppressant sweeping the nation, and it’s not a trendy detox tea or intermittent fasting fad. As you have likely already heard, more Americans are turning to GLP-1 drugs like Ozempic and Mounjaro to lose weight, and – maybe slightly quicker than originally expected – it’s already showing up in fast food earnings reports, including that of McDonald’s.

How many Americans are using weight loss drugs?

Use of these drugs has skyrocketed nearly 600% in six years, according to FAIR Health data. As of 2024, around 4% of Americans use them, mostly for obesity or diabetes, and about half of users are taking them purely to lose weight. We’ll address gym membership another time.

Ozempic, made by Novo Nordisk, remains the most popular, but Eli Lilly’s Mounjaro is gaining ground. Both drugs help regulate blood sugar and reduce hunger significantly, meaning fewer meals, fewer calories, and fewer impulse visits to places like McDonald’s.

This week, as reported by CBS, McDonald’s shares dipped after analysts at Redburn Atlantic downgraded the stock from “buy” to “sell.” They estimate GLP-1 drugs could cost the company 28 million customer visits per year, a $482 million hit to annual revenue.

How are weight loss drugs impacting McDonald’s?

Lower-income consumers, who make up much of McDonald’s customer base, are particularly affected. When they start using GLP-1s, their spending on eating out drops sharply and stays down, according to Redburn. For higher-income users, it bounces back more quickly.

Redburn warns that these changes extend beyond the individual – altering household eating habits and cutting into group dining too. A 1% drop in demand today, they say, could turn into a 10% decline over time.

It comes at a tough moment. Consumers are already pushing back on menu prices, and McDonald’s is battling what analysts call “pricing fatigue.” The cost gap between eating out and cooking at home remains wide, adding to the pressure.

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