Meal Replacement Products Market Demand, Growth Opportunity and Forecast 2022-2027
Meal Replacement Products Market Outlook
Meal replacement products are pre-packaged, calorie-restricted foods that can be mixed with various liquids to make smoothies or beverages, as they have been proven effective for weight reduction and management. They are enriched with essential vitamins, minerals, lipids, proteins, fiber, and complex carbs that help to replace unhealthy or high-calorie meals and stifle subsequent food cravings. Apart from this, meal replacement products have extended shelf life and are easy to store; therefore, they are used as a high-calorie performance and backpack food to offer regulated nutrients and calories. Currently, they are mainly available in protein bars, powder, and shake forms that are convenient for on-the-go consumption.
How has the global meal replacement products market performed so far and how will it perform in the coming years?
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$ 19.0 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What are the key driving factors and challenges in the industry?
The growing prevalence of various lifestyle diseases, including obesity and diabetes, owing to the extensive consumption of unhealthy ready-to-eat (RTE) processed foods with high-calorie density, is primarily driving the market growth. Furthermore, changing dietary preferences on account of increasing health consciousness and the growing consumer awareness regarding the benefits of eating balanced diets are augmenting the demand for meal replacement products.
Moreover, the advent of plant-based, non-genetically modified organisms (non-GMOs) modified product variants in diverse flavor profiles and their availability across diverse online and offline shopping platforms, including convenience and grocery stores, are stimulating the market growth. Besides this, the rising disposable incomes, ongoing aggressive promotional activities by manufacturers, and the increasing need to fulfill nutritional requirements while regulating weight are supporting the market growth.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Who are the key players of the global meal replacement products market and ?
The competitive landscape of the industry has also been examined with some of the key players.
- 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. Company
- Nestle SA
- Nutrisystem Inc.
- Unilever Plc
- Ksf Acquisition Corporation
What is the structure of the global meal replacement products market ?
The 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, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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