Consumer giants may be impacted by weight loss drugs, but it's uncertain how much.

• Some companies, including Delta Air Lines, Pepsi, Philip Morris International, and Darden Restaurants, are facing inquiries about the impact of GLP-1s on their financial performance.
• By the end of the decade, the percentage of people with obesity in the US who take GLP-1 could increase to 13%, resulting in a $100-billion market, according to one analyst estimate.
• The presence of unpleasant side effects and insurance coverage may impact the number of individuals who take the drugs and the duration of their usage.

It might seem like everyone is taking weight loss drugs if you listen to third-quarter corporate earnings calls.

Some companies, including , , and , are facing questions from analysts about the impact of drugs on their profits. While executives are generally dismissing the effects, some, like , , and , are assuring investors they will adapt if necessary.

Despite some analysts' predictions about the impact of obesity drugs on various industries, the medicines are still in their early stages. It remains uncertain how many people will use them, for how long, and what long-term effects they will have on food producers, restaurants, and other sectors.

GLP-1 drugs, initially approved for diabetes, are now being used for obesity. Due to high demand, Novo Nordisk can no longer produce enough of its drug Wegovy to meet the needs.

A small percentage of eligible individuals are currently using the drugs, according to Chris Shibutani, a Goldman Sachs analyst.

Shibutani predicts that the number of Americans with obesity who could reach 13% by the end of the decade, which translates to approximately $100 billion in sales. However, the actual total may vary due to several factors, including the duration of people's use of the drugs.

Shibutani stated that the size of the market and the potential changes in other industries, including food and beverage, consumption, and competition for discretionary spending and luxury goods, are major concerns in thinking about the market.

The cost of a month's supply of Wegovy is approximately $1,400, and insurance coverage can vary, making it an expensive option for many potential users. Additionally, Wegovy and similar drugs may cause side effects such as vomiting and diarrhea, which can deter some individuals from using them.

According to RBC Capital Markets, only about one-third of individuals who begin taking drugs continue to use them one year later. This suggests that the impact of these drugs on other industries may not be as extensive as some people anticipate, as stated by RBC analyst Brian Abrahams.

Abrahams stated that people sometimes believe that drugs can cure diseases and if 50 million or 100 million people use them, they will lose a quarter of their body weight. However, pharmaceutical products have limitations, such as reimbursement and compliance, and the reality often does not match the expectations.

Wegovy was approved just two years ago, and the story is just beginning to unfold.

Before the end of this year, Eli Lilly's tirzepatide is predicted to be approved, while dozens of weight loss drugs are currently being developed.

As the manufacturing process continues, new mechanisms emerge, and payers make their decisions, we will observe how these drugs unfold, Shibutani stated. In essence, this trend is likely to persist for some time.

— CNBC’s Patrick Manning contributed to this report.