Meal Replacement Products Market

Meal Replacement Products Market was valued at USD 20,302 Million in 2019 and projected to grow at 6.3% CAGR over the forecast period.

Meal Replacement Products Market Overview

Meal Replacement products include a wide range of food products such as ready to drink, protein bars, and powders that are available in the market. It contains high nutritional values such as protein, fiber, vitamins, and other essential nutrients. Meal replacement products are considered as a substitute of solid food items and provide a desired quality of nutrients to the consumers.

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Major Meal Replacement Products Market Drivers

The key factors supporting the growth of the global meal replacement products market include the growing demand for tasty & healthy food products, rising health concerns among consumers, rapid urbanization, and the increasing disposable income of people across the globe. Change in the eating habits of consumers driven by the hectic and busy lifestyle of the working population will boost the demand of the global meal replacement products market. Growing health consciousness, along with the increasing incidence of diseases such as diabetes, obesity, and cardiovascular diseases, has created awareness among consumers regarding weight loss and weight management diets, thereby driving the growth of the meal replacement products market.

Moreover, the rising demand for convenient and healthy food options with high nutritional value is creating opportunities for market growth. Furthermore, the rising adoption of meal replacement bars and shake as a healthy alternative as compared to fast food is expected to propel the global However, the availability of alternatives food products and high production & marketing cost may hinder the global meal-replacement products market in upcoming years.

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Based on the Product, Ready to drink segment is expected to grow at a higher CAGR in the global Meal Replacement Products market during the forecast period owing to the growing consumer preference for ready to drink products. In addition to this, the increasing popularity of bottled energy drinks is creating numerous opportunities for the growth of the segment.

Based on the Distribution Channel, Online segment is projected to grow at a higher CAGR rate due to the rising penetration of e-commerce and the increasing manufacturer’s focus to target a wider audience on e-commerce platforms. Moreover, key players are investing on various digital marketing strategies to attract consumers towards the purchase of their products through online channels. This factor will contribute towards the growth of the online segment in the global meal replacement products market.

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On the basis of region, the North America region is predicted to dominate meal-replacement products market over the forecast period due to the growing health-conscious population and the high consumption of healthy food substitutes among consumers. Also, the growing health problems related to high blood pressure, obesity, diabetes, among other health problems, will shift consumers towards meal-replacement products, thus further driving the market growth. Various manufacturers are focusing on developing products to meet the nutritional and quality standards of the FDA to increase their sales in the market.

Top Market Players

Various notable players operating in the market include Abbott Laboratories, Blue Diamond Growers, Herbalife Nutrition, Glanbia Plc, General Mills Inc., Kellogg Co., Nestle, Unilever, Kraft Heinz Company, and Bob’s Red Mill Natural Foods, Inc., among others. 

Key Developments:

• • In 2020, Blue Diamond Growers launched Almond Protein Powder through the online platform i.e., Amazon. The company launched three flavors i.e., Dark Chocolate, Vanilla, and Unsweetened of Almond Protein Powder to cater the growing demand of consumers.
  • In 2019, Herbalife Nutrition introduced Formula 1 Select Meal Replacement shake and Protein Drink Mix Select to meet the increasing demand for an alternative source of protein across the globe.

Segments covered in the Report:

The global Meal Replacement Products market has been segmented on the basis of Product, Distribution Channel, and key regions. Based on Product, the market is segmented into Powder, Ready-to-Drink, Protein Bar. Based on Distribution Channel, the market is segmented into Online and Offline. 

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Market Segmentation

Global Meal Replacement Products Market by Product

• • Powder
  • Ready to Drink
  • Protein Bar

Global Meal Replacement Products Market by Distribution Channel

• • Online
  • Offline

Global Meal Replacement Products Market by Region

• • North America Meal Replacement Products Market (Option 1: As a part of the free 25% customization)

    • North America Meal Replacement Products Market by Product
    • North America Meal Replacement Products Market by Distribution Channel
    • US Meal Replacement Products Market All-Up
    • Canada Meal Replacement Products Market All-Up

  • Europe Meal Replacement Products Market (Option 2: As a part of the free 25% customization)

    • Europe Meal Replacement Products Market by Product
    • Europe Meal Replacement Products Market by Distribution Channel
    • UK Meal Replacement Products Market All-Up
    • Germany Meal Replacement Products Market All-Up
    • France Meal Replacement Products Market All-Up
    • Spain Meal Replacement Products Market All-Up
    • Rest of Europe Meal Replacement Products Market All-Up

  • Asia-Pacific Meal Replacement Products Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Meal Replacement Products Market by Product
    • Asia-Pacific Meal Replacement Products Market by Distribution Channel
    • China Meal Replacement Products Market All-Up
    • India Meal Replacement Products Market All-Up
    • Japan Meal Replacement Products Market All-Up
    • Rest of APAC Meal Replacement Products Market All-Up

  • RoW Meal Replacement Products Market (Option 4: As a part of the free 25% customization)

    • RoW Meal Replacement Products Market by Product
    • RoW Meal Replacement Products Market by Distribution Channel
    • Brazil Meal Replacement Products Market All-Up
    • South Africa Meal Replacement Products Market All-Up
    • Saudi Arabia Meal Replacement Products Market All-Up
    • UAE Meal Replacement Products Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Meal Replacement Products Market All-Up

Major Players Operating the Meal Replacement Products (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott Laboratories
  • Blue Diamond Growers
  • Herbalife Nutrition
  • Glanbia Plc
  • General Mills Inc.
  • Kellogg Co.
  • Nestle
  • Unilever
  • Kraft Heinz Company
  • Bob’s Red Mill Natural Foods, Inc.