Meal Replacement Market by Type (Ready to Drink, Bars, and Powder), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026658 | Pages: 100 | Industry: Consumer Goods | Date: Oct 2022 | Type: Global

The market crossed US$ 12.3 billion mark in 2022 and is expected to hit US$ 19.9 billion by 2030, recording a CAGR of 5.8% during the forecast period.

Increasing prevalence of obesity and diabetes coupled with the increasing population of the health-conscious consumer

The global population is extensively facing obesity. Obesity is one of the most significant health problems in all income levels. Hence, individuals are adopting meal replacement food items as an effective means for weight loss. As obesity increases the risk of diabetes, cardiovascular mortality, dyslipidemia, and hypertension, among others. Meal replacement solutions are more suitable for the long term as they help lose weight compared to other interventions. The increasing awareness of healthy lifestyles is projected to drive the global market. There is an increasing trend and adoption of a nutritious diet to replace regular meals with convenient and easy options such as meal replacements. The powder segment is expected to pace up with the rising adoption among the young generation. Further, other segment such as ready-to-drink, and bars is also expected to gain traction during the forecasted year.

Within the report, the market is segmented into type, distribution channel, and geography. By type, the market is further segmented into ready-to-drink, bars, and powder. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Get more information on this report :

Growing demand for nutritional food products augmenting the meal replacement market growth

Meal replacements act as a replacement for meal food with nutritional food. The increasing prevalence of diabetes and obesity awareness regarding weight loss and weight management has gained momentum, propelling the market's growth. These meal replacements control hunger and provide nutrients such as fibres, vitamins, minerals, and proteins. Meal replacements in powder, ready-to-drink and bars can help with unhealthy or high-calorie meals. This helps boost the immune system, manage weight, and provide adequate nutrients. The busy lifestyle of working professionals and the increasing need for adopting a healthy lifestyle drive the market's growth. All the factors mentioned above increased the demand for meal replacements.

Rising Growing demand for meal replacement in developing countries

The developing economies' spending on nutritious food has been gaining traction. Hence, developing countries such as Brazil, India, Indonesia, and South Korea are witnessing a surge in adopting meal replacements. The growth of meal replacement is also due to rising obesity issues, inactive lifestyles, an ageing population, and increased interest in health and nutrition. Furthermore, countries such as India, Australia, and Japan are witnessing a rise in the development of lifestyle diseases such as cardiovascular diseases, diabetes, and osteoporosis. Additionally, countries in the Asia Pacific region have registered high growth rates for overweight and obesity. Hence, geographies with a rising prevalence of chronic diseases are anticipated to create opportunities for the market players of meal replacement to expand their business across new markets.

Recent strategic developments in meal replacement market

The meal replacement market has undergone several significant developments, and a few of these have been mentioned below:

  • In In 2021, Glanbia Plc launched PLNT Burger.
  • In 2020, Huel Inc. launched its new Huel Black Edition, a nutritious meal replacement shake.
  • In 2020, Nestle SA launched new protein bars, the meal replacement snack product “YES Plant Protein bars.

The meal replacement market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Abbott Laboratories, Glanbia plc, Nestle SA, Kellogg Co., Huel Inc. is among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Food Ingredient providers
  • Meal replacement-related service providers
  • Meal replacement-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Food additives suppliers
  • Meal replacement distributors and sales firms
  • End users of meal replacement
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Ready-to-drink
    • Bars
    • Powder
  • Distribution Channel
    • Supermarkets and Hypermarkets
    • Convenience Stores
    • Online Retail
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Abbott Laboratories
    • Glanbia plc
    • Nestle SA
    • Kellogg Co.
    • Huel Inc.
 

The List of Companies
- Abbott Laboratories
- Glanbia plc
- Nestle SA
- Kellogg Co.
- Huel Inc.

Report Code
Full Name
Country Name
Email Id
Phone Number
Job Title
Company
Requirement

Note : Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.


Purchase Options
Single User License
$2000
Site License
$3000
Enterprise License
$4000