When Wellness Reshapes Consumer Behaviour: Understanding the GLP-1 Effect

Antonio Vázquez, Global Banker Consumer, Retail & Healthcare, BBVA

The consumer goods industry has always been highly adaptable, thanks to its close connection with customers and its ability to identify emerging trends and respond quickly. Yet rarely has it faced a transformation as profound as the one unfolding today. What is changing is not only the way people shop, but also their relationship with the products and brands they choose.

Wellness and the GLP-1 phenomenon as market accelerators

Wellbeing has become a priority. Moderation is gaining momentum, and health is playing an increasingly important role in purchasing decisions. Adding to this shift is a relatively recent phenomenon: the rapid adoption of GLP-1 therapies, originally developed to treat diabetes and now widely used to address obesity. These treatments are accelerating several of the trends that were already reshaping the market. While primarily linked to health and wellbeing, these trends may also have indirect implications for responsible consumption and broader social outcomes.

A Consumer with New Priorities

For decades, many consumer categories have grown on the back of convenience, immediacy and volume. Consumers still seek enjoyment today, but they are increasingly redefining what matters most.

Health is no longer a niche attribute associated with specialised products. It has become a mainstream expectation. Today's consumers read labels, scrutinise ingredients, pay close attention to nutritional value and place increasing importance on transparency. This shift reflects growing awareness of the impact of personal choices, although the precise environmental and social implications vary and require further assessment.

What once appeared to be a niche trend has evolved into a broad market force affecting sectors such as food, beverages, restaurants and retail. The result is a more informed and demanding consumer, for whom wellbeing now influences almost every purchasing decision.

Moderation as a New Way to Enjoy

One of the most visible changes is the growing acceptance of moderation as a positive choice. Consuming less is no longer perceived as a sacrifice but rather as a way of balancing enjoyment and wellbeing.

The decline in alcohol consumption among younger generations, for example, is largely driven by greater concern for physical and mental health, increasing interest in healthier lifestyles and a desire to improve personal performance. In this context, alcohol appears to be losing appeal relative to alternatives that better align with the values of wellbeing, self-control and self-improvement that increasingly define Generation Z and Millennials.

This evolution is particularly evident in the beverage sector. Low- and no-alcohol categories continue to expand, while functional beverages enriched with ingredients such as probiotics, adaptogens and vitamins are gaining traction among consumers seeking healthier alternatives.

At its core, we are witnessing a redefinition of value in consumption: less excess, more intention. Quality, functionality and wellbeing are increasingly outweighing sheer volume.

The Impact of GLP-1 Treatments

Against this backdrop, one factor attracting significant attention from manufacturers, retailers and investors is the rise of GLP-1 receptor agonist treatments.

Although their primary purpose is medical, available evidence suggests that individuals using these treatments tend to consume smaller quantities and show a stronger preference for products perceived as healthy, nutritious and protein-rich.

It is still too early to determine their full long-term impact. However, their most significant effect may be that they reinforce trends that were already gaining momentum: greater concern for health, moderation in sugar and alcohol consumption, portion control and heightened attention to nutritional value.

Adapting to Grow

Leading companies are not waiting for these trends to fully materialise. They are already reformulating products, expanding low- and no-alcohol offerings, developing functional categories and investing in segments with stronger growth potential.

In the beverage sector, for example, major players already generate approximately $5 billion annually from low- and no-alcohol alternatives, reflecting a broader shift in which value is increasingly created around consumption occasions rather than alcohol itself.

In a rapidly evolving consumer environment, companies must combine financial strength with strategic vision. At BBVA, we help our clients understand these trends and identify the opportunities they create. We combine sector expertise, financial capabilities and data-driven insights to support scenario analysis, investment planning and long-term competitive positioning.

Today, the challenge is no longer access to information; it is the ability to turn information into competitive advantage. In sectors as dynamic as consumer goods, the companies that identify shifts in consumer preferences first are often the ones that capture the greatest growth opportunities. Increasingly, strategic decisions rely on advanced data analytics to detect behavioural patterns, anticipate trends and direct investment towards the segments with the highest potential.

The history of the sector shows that companies that best interpret change are often those that lead the next phase of growth. There is every reason to believe that this time will be no different.