The global meal replacement products market reached a value of US$ 12.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 19 Billion by 2027, exhibiting a CAGR of 7.5 during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A meal replacement product is a pre-packaged and calorie-controlled food product that acts as a substitute for a whole food meal. Ready-to-eat foods, shakes, bars and powders are the common types of meal replacement products available in the market. They are rich in essential nutrients, fats, proteins, fibers, vitamins, minerals and complex carbohydrates that aid in replacing unhealthy or high-calorie meals and suppressing subsequent food cravings. These products are also available in a wide variety of flavours, such as vanilla, strawberry, chocolate, blueberry and orange. Owing to this, meal replacement products are considered to be a convenient alternative for a healthy and low-calorie meal that can be consumed at any time. An alarming increase in the prevalence of obesity and diabetes, along with rising health consciousness among consumers, is one of the key factors driving the growth of the market. Furthermore, growing consumer awareness regarding weight management is also catalyzing the demand for various meal replacement products. Owing to the hectic lifestyles and busy schedules, consumers are increasingly opting for weight management and diet programs that include easy-to-prepare nutritional products. This has provided a significant boost to the demand for meal replacement products across the globe. Additionally, various product innovations, such as the introduction of plant-based and organic meal replacement shakes that are free of gluten, artificial colors, sweeteners and preservatives, are acting as another growth-inducing factor. Rising disposable incomes, rapid urbanization, aggressive promotional activities by manufacturers and the development of online retail channels are also projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global meal replacement products market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, distribution channel and application.

Breakup by Product Type: Ready-to-Drink Products
Edible Bars
Powdered Products

Breakup by Distribution Channel:

Hypermarkets and Supermarkets
Convenience Stores
Specialty Stores
Online Stores

Breakup by Application:

Weight Gain
Weight Loss
Physical Fitness
Wound Healing

Breakup by Region: North America
United States
Asia Pacific
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Abbott Laboratories, Blue Diamond Global Ingredients Division, Bob’s Red Mill Natural Foods, General Mills, Glanbia Plc, Healthy ’N Fit International Inc., Herbalife International of America Inc., Kellogg Company, Nestle SA, Nutrisystem Inc., Unilever Plc, Ksf Acquisition Corporation, etc. Key Questions Answered in This Report:
How has the global meal replacement products market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the product type?
What has been the impact of COVID-19 on the global meal replacement products market?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global meal replacement products market and who are the key players?
What is the degree of competition in the industry?