Asia-Pacific meal replacement products market is projected to grow with a CAGR of 9.92% during the forecast period (2020 - 2025).

  • Asia-Pacific has one of the world’s highest obesity rates, on the contrary, there is also a large proportion of the population that are health and fitness conscious, which is expected to boost the market demand.
  • The trend of weight management has boosted the demand for meal replacement bars and powders in the food industry, making Australia the largest market for meal replacement products within the Asia-Pacific region.
  • However, owing to the factors, such as high prices and less sustainability speculated for long-term consumption of meal replacement products, the market faces constraints in expanding its consumer base. Products like supplement powders and shakes are generally consumed by those who are willing to spend exponentially high money to satiate their hunger.



Key Market Trends

Supermarket/Hypermarket are the Largest Retail Channel

Supermarkets/hypermarkets have always maintained a strong lead in the sales share of meal replacement products market and are constantly gaining in the region. The proximity factor of these channels, especially in large cities and metropolitan areas, provides them with an added advantage of influencing the consumer’s decision to make the purchase among the large variety of products available in the market. Also, the wide retail visibility of meal replacement products resulted in an increasing share of supermarkets and hypermarkets. Expansion of various supermarkets and hypermarkets into different countries of the region, such as Malaysia, Indonesia, and Thailand, is driving the sales of meal replacements through the channel.

Australia is the Largest Market in the Region

Australian consumers spend more on healthy and convenient snack products, due to changing lifestyles, increasing dietary intake, and sports culture in the country. The trend of “anytime” snacks is increasing in the country, and products, like snack bars, are used as a meal replacement by health-conscious consumers. Furthermore, Australian consumers are more concerned about the origin and quality of ingredients used in the preparation of food products, and there is a rise in the popularity of organic packaged foods. Organic meal replacement products such as organic powder supplements, beverages, and snack bars, among others, are becoming increasingly popular among health-conscious consumers, and the rapid expansion of specialty and online retail stores plays a key role in making these products easily accessible to consumers. With the increasing demand for healthy alternatives and the convenience offered by these products, the demand for protein bars in Australia is expected to increase in the coming years, offering growth opportunities to the vendors in the market.

Competitive Landscape

The Asia-Pacific meal replacement products market is emerging led by the entrants of various local as well as global players in the market such as Amway, Herbalife, Nestle SA, Glanbia PLC and others. The players are also taking steps to expand their business in terms of geography, by establishing partnerships with the local companies in order to enhance their product offering together with expansion of the business. For instance, Japan’s Comp launched meal replacement gummies, Comp Gummy, in partnership with the confectionery manufacturer, Mikakuto, in Japan in 2017.

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