Global Meal Replacement Products Market is valued approximately at USD 11 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.64% over the forecast period 2021-2027. Meal replacement products are the food and beverage products consumed as an alternative for solid meals. These products contain essential nutrition required by the body. The global Meal Replacement Products market is being driven by increasing popularity of weight management plans due to prevalence of obesity. According to Statista, there has been increase in prevalence of obesity among adults aged above 20 in the U.S. from 30.6% in 2016 to 31.7% in 2018. Another important driving factor is the rising product launches. For instance, in June 2021, Arla Food Ingredients had launched three new solutions for meal replacement products with the range of whey protein and micellar casein ingredients for ready-to-drink beverages, high protein bars and protein shakes. Furthermore, the rising awareness for healthy food products, increasing prevalence of chronic diseases such as blood pressure, diabetes, cardiovascular diseases and others and the adoption of hectic lifestyle will create new opportunities for the global Meal Replacement Products industry. However, presence of large number of substitute sources of nutrition may impede market growth over the forecast period of 2021-2027.
The regional analysis is based on the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World for the global Meal Replacement Products Market. Asia Pacific is the leading region across the world in terms of market share and is anticipated to exhibit the highest CAGR over the forecast period 2021-2027 due to the rise in consumers’ preference for health-conscious products, enhancing e-commerce coverage, and large consumer base, in the region.
Major market player included in this report are:
Herbalife International of America, Inc.
Blue Diamond Growers
General Mills Inc.
Bob’s Red Mill Natural Foods
Healthy ’N Fit International Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Ready to Drink
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Meal Replacement Products Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers