Meal Replacement Market Growth by Emerging Trends, Analysis, & Forecast

The global meal replacement market size to be valued at $15.5 billion by 2026 and is expected to grow at a compound annual growth rate (CAGR) of 5.4% during the forecast period. This growth is attributed to the increasing prevalence of health issues such as obesity, diabetes, and cardiovascular diseases, which has prompted consumers to become more aware of weight loss and management diets. Meal replacement products, which provide essential nutrients, fiber, and protein within 200 to 400 calories, have become a convenient and all-inclusive option for individuals seeking a healthier lifestyle. As a result, the demand for meal replacement products is anticipated to continue growing, contributing to the market's expansion.

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Meal Replacement Market Trends

As the global population becomes more health-conscious and the prevalence of overweight issues and diabetes increases, the demand for meal replacement products is expected to grow. Nutritional supplements that aid in weight loss are becoming more relevant as people seek out efficient ways to shed pounds. This increased demand has led to a surge in investment in the market.

However, the high cost of meal replacements compared to conventional meals can be a barrier to growth. The additional manufacturing techniques used to enhance the nutritional value of these products contribute to their higher price point. Despite this challenge, the growing awareness of the benefits of healthy eating habits is expected to fuel the market's growth.

In developing regions, the rising incidence of chronic diseases and obesity rates, combined with an increasing interest in health and nutrition, is driving demand for meal replacement products. As consumers become more aware of the importance of consuming nutritious foods, the market for these products is expected to expand. This presents an opportunity for meal replacement manufacturers to expand their businesses into new markets and meet the needs of a growing population of health-conscious consumers.

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North America dominated the meal replacement market and is projected to grow with a CAGR of 4.3% during the forecast period (2021- 2026)

North America accounted for the largest market share of 29.5% in 2020 and is expected to grow at a CAGR of 4.6% during the forecast period. CDC suggests that chronic diseases, such as diabetes, cancer, heart disease, and stroke, affect six out of ten Americans. Chronic illnesses are the main contributors to health care costs as well as the major causes of death and disability in the United States.

Dietary Guidelines for Americans (Dietary Guidelines), provided by the US health department, offer recommendations to satisfy nutrient requirements, advance health and fend off diseases The Dietary Guidelines are updated and published every five years by the US Departments of Health and Human Services (HHS) and Agriculture (USDA). The presence of health policies focusing on healthy eating and improved lifestyle choices, together with the willingness of consumers to spend on meal replacement products, contribute to the larger share of the US.

The key players in this market include Abbott Laboratories (US), Amway (US), Glanbia PLC (Ireland), Herbalife Nutrition (US), and Nestle (Switzerland).

Meal Replacement Market to Witness Unprecedented Growth in Coming Years

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", The global meal replacement market has been influenced by changing consumer lifestyles, people are inclined toward meals that are full of nutrition, vitamins, minerals, and other dietary supplements. The growth in the number of health-conscious consumers across the globe is proliferating the demand for meal replacement products.

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Powder segment is the largest market for meal replacement market globally.

Powders are consumed in the form of shakes with the addition of water or low-calorie milk. The rapid adoption of meal replacement powder as a part of weight management will drive the market for meal replacements products. Meal replacement powder is mixed with water or milk of choice (low-calorie, plant-based, low-fat, toned milk, flavored milk, among others) for consumption. These are available in various flavors, the most popular being chocolate, vanilla, and strawberry. Various companies are into the manufacturing of powder form meal replacement products such as Nestle and Huel. Nestle offers meal replacement chocolate cacao powder and has presence in various regions such as Middle East, Africa, North America, Asia Pacific and Europe.

Online segment is witnessing a high growth rate for the meal replacement products during the forecast period.

Online segment is witnessing a high growth rate owing to the rising smartphone and internet penetration, which is increasing the sales of online meal replacement products. COVID-19 has changed the purchasing pattern of the consumers globally. Consumers are now purchasing products online and choosing the health safety and convenience over the offline purchasing experience globally. In addition to this, increasing internet penetration in under developed countries will also drive the online segment growth.

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North America holds the largest market share for meal replacements products in 2021

In 2021, North America accounted for a market share of 29.28% in the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady CAGR of 4.6% during the forecast period.

The key players in this market include Abbott Laboratories (US), Amway (US), Glanbia PLC (Ireland), Herbalife Nutrition (US), and Nestle (Switzerland).

Meal Replacement Market to Witness Unprecedented Growth in Coming Years

The global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. The demand for meal replacement products is attributed to increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

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Key players in this market include Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).

Since meal replacement is a growing market, the existing players are fixated upon improving their market shares, while the newer startups are being established rapidly in the meal replacement segment. Meal replacement can be classified as a competitive market as it has a large number of organized players at the global level as well as unorganized players present at the local level in several countries. There are numerous existing and emerging companies across the globe.

Abbott Laboratories is an American multinational company that specializes in various fields such as nutrition, medical devices, diagnostics, and pharmaceuticals. It has over 99,000 employees and is spread across 150 countries advancing global health. Abbott has a variety of brands through which it innovates products. Some of the brands include Ensure, Vital, and Glucerna, among others. The company has its global presence in Asia Pacific, Europe, the Middle East, South Africa, North America, and South America.

Amway is a multilevel marketing company that specializes in the manufacturing of beauty, health, and home care products. It is a global community that has a presence in over 100 countries. The company is primarily focused on manufacturing macronutrient supplements that can be used as meal replacement products. It offers products worldwide through its brands such as Nutrilite, Artistry, Attitude, XS, Amway Queen, among others. The type of products offered by the company include BodyKey by Nutrilite Meal Replacement Shake Mix.

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In 2021, North America accounted for a market share of 29.28% in the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady CAGR of 4.6% during the forecast period.

Meal Replacement Market Growth by Emerging Trends, Analysis, & Forecast

The meal replacement market has seen significant growth in recent years as more people seek convenient and healthy food options to fit into their busy lifestyles. The market includes a wide range of products such as shakes, bars, and powders, which are designed to replace one or more meals per day with a nutritionally balanced option.

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Industry Analysis:

The global meal replacement market is projected to reach USD 15.4 billion by 2026, growing at a CAGR of 5.4% between 2021 and 2026. North America is the largest market for meal replacements, followed by Europe and the Asia Pacific.

The growth of the meal replacement market can be attributed to several factors such as the increasing demand for convenient and healthy food options, the rising prevalence of obesity and other lifestyle diseases, and the growing awareness about the importance of nutrition and wellness.

Key Players:

The major players in the meal replacement market include Herbalife Nutrition Ltd., Amway Corporation, Abbott Laboratories, Nestle S.A., General Mills Inc., The Kraft Heinz Company, Kellogg Company, Unilever N.V., Glanbia plc, and The Hut Group Limited.

Growth Opportunities:

The meal replacement market presents several growth opportunities for companies operating in this space. Some of the key growth opportunities include:

Expansion into emerging markets: Companies can expand their presence in emerging markets such as the Asia Pacific and Latin America, where there is a growing demand for convenient and healthy food options.

Product innovation: Companies can continue to innovate and develop new products that cater to specific consumer needs, such as vegan or gluten-free options, and personalized nutrition solutions.

Partnerships and collaborations: Companies can form strategic partnerships and collaborations with other players in the food and beverage industry to expand their product offerings and reach a wider audience.

Online sales: With the increasing trend of e-commerce and online shopping, companies can leverage digital platforms to sell their products directly to consumers.

Health and wellness programs: Companies can develop health and wellness programs that incorporate their meal replacement products to promote healthy lifestyles and drive consumer engagement.

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In conclusion, the meal replacement market is expected to continue to grow in the coming years, driven by the increasing demand for convenient and healthy food options. Companies can leverage growth opportunities such as product innovation, expansion into emerging markets, and strategic partnerships to capture a share of this growing market.

Sustainable Growth Opportunities in the Meal Replacement Market

According to MarketsandMarkets, the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. It is driven by increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

Meal replacement products are an alternative to meals, which contain all the required nutrients, with low calories and high protein. Meal replacement products are also developed to help consumers with busy lifestyles and less time to get a meal’s worth of nutrients with less effort and more convenience.

 

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The meal replacement market has a high potential in emerging markets, such as Asia Pacific. Although the consumption of meal replacement products in Asia remains lower than in the US and Europe, the westernization of food habits of the Asian population coupled with a rise in awareness regarding health and wellness has led to an increase in demand, especially from the young and millennial population.

 

North America dominated the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady rate during the forecast period. It is largely driven by factors such as presence of major meal replacement product manufacturers, such as Abbott Laboratories (US), Amway (US), Herbalife Nutrition (US), Atkins (US), Kellogg Co. (US), Skin Enterprises Inc. (US), USANA Health Sciences Inc. (US), among others.

 

Among various types of products, powder segment accounted for the major market share in the overall meal replacement market. Meal replacement powders are consumed in the form of shakes with the addition of water or low-calorie milk. Thus, the convenience and ease of consumption of meal replacement powders drive the market growth.

Based on distribution channel, the online segment is projected to be the fastest-growing during the forecast period. The rising internet and smartphone penetration, primarily from emerging economies, is anticipated to accelerate the growth of online distribution channels for the meal replacement market.

 

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Key players in this market include Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).

Latest Regulatory Trends Impacting the Meal Replacement Market

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", The global meal replacement market has been influenced by changing consumer lifestyles, people are inclined toward meals that are full of nutrition, vitamins, minerals, and other dietary supplements. The growth in the number of health-conscious consumers across the globe is proliferating the demand for meal replacement products.

 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=740

 

Powder segment is the largest market for meal replacement market globally.

 

Powders are consumed in the form of shakes with the addition of water or low-calorie milk. The rapid adoption of meal replacement powder as a part of weight management will drive the market for meal replacements products. Meal replacement powder is mixed with water or milk of choice (low-calorie, plant-based, low-fat, toned milk, flavored milk, among others) for consumption. These are available in various flavors, the most popular being chocolate, vanilla, and strawberry. Various companies are into the manufacturing of powder form meal replacement products such as Nestle and Huel. Nestle offers meal replacement chocolate cacao powder and has presence in various regions such as Middle East, Africa, North America, Asia Pacific and Europe.

 

Online segment is witnessing a high growth rate for the meal replacement products during the forecast period.

 

Online segment is witnessing a high growth rate owing to the rising smartphone and internet penetration, which is increasing the sales of online meal replacement products. COVID-19 has changed the purchasing pattern of the consumers globally. Consumers are now purchasing products online and choosing the health safety and convenience over the offline purchasing experience globally. In addition to this, increasing internet penetration in under developed countries will also drive the online segment growth.

 

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North America holds the largest market share for meal replacements products in 2021

 

In 2021, North America accounted for a market share of 29.28% in the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady CAGR of 4.6% during the forecast period.

 

The key players in this market include Abbott Laboratories (US), Amway (US), Glanbia PLC (Ireland), Herbalife Nutrition (US), and Nestle (Switzerland).

Meal Replacement Market to Showcase Continued Growth in the Coming Years

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", The global meal replacement market has been influenced by changing consumer lifestyles, people are inclined toward meals that are full of nutrition, vitamins, minerals, and other dietary supplements. The growth in the number of health-conscious consumers across the globe is proliferating the demand for meal replacement products.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=740

Powder segment is the largest market for meal replacement market globally. 

Powders are consumed in the form of shakes with the addition of water or low-calorie milk. The rapid adoption of meal replacement powder as a part of weight management will drive the market for meal replacements products. Meal replacement powder is mixed with water or milk of choice (low-calorie, plant-based, low-fat, toned milk, flavored milk, among others) for consumption. These are available in various flavors, the most popular being chocolate, vanilla, and strawberry. Various companies are into the manufacturing of powder form meal replacement products such as Nestle and Huel. Nestle offers meal replacement chocolate cacao powder and has presence in various regions such as Middle East, Africa, North America, Asia Pacific and Europe.

Online segment is witnessing a high growth rate for the meal replacement products during the forecast period. 

Online segment is witnessing a high growth rate owing to the rising smartphone and internet penetration, which is increasing the sales of online meal replacement products. COVID-19 has changed the purchasing pattern of the consumers globally. Consumers are now purchasing products online and choosing the health safety and convenience over the offline purchasing experience globally. In addition to this, increasing internet penetration in under developed countries will also drive the online segment growth.

Make an Inquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=740

North America holds the largest market share for meal replacements products in 2021

In 2021, North America accounted for a market share of 29.28% in the global meal replacement market. The market in the region is highly diversified, and manufacturers are strongly focusing on the development of new meal replacement products to cater to the demand from end users. Although North America holds the largest share, the meal replacement market is matured and is projected to grow at a steady CAGR of 4.6% during the forecast period. 

The key players in this market include Abbott Laboratories (US), Amway (US), Glanbia PLC (Ireland), Herbalife Nutrition (US), and Nestle (Switzerland).

Latest Regulatory Trends Impacting the Meal Replacement Market

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. It is driven by increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

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Drivers: Increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers

The population of obese people is increasing globally and has tripled since 1975. Obesity being one of the largest health problems, has shifted from being the most common problem in developed countries to countries with all income levels. Owing to the rising cases of obesity, individuals are adopting meal replacement plans as an effective tool for weight loss. Obesity increases the risk of diabetes, cardiovascular mortality, dyslipidemia, and hypertension, among others. Meal replacement weight management solutions are suitable for the long-term as they help in losing more weight compared to other interventions.

Additionally, the increasing awareness regarding healthy lifestyles is projected to drive the global meal replacement 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.

Opportunities: Growth of the meal replacement market from emerging economies

The emerging economies are witnessing a surge in spending for nutritious food, which is attributed to the growing awareness among consumers. The growth of meal replacement across emerging geographies is also owing to the rising obesity rates, an increase in sedentary lifestyle, aging 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, type 2 diabetes, and osteoporosis. Additionally, countries in the Asia Pacific region have registered high growth rates for overweight and obesity. Similarly, obesity has become one of the rising health concerns across South America. In 2021, Brazil had approximately 15,733.6 thousand people with diabetes, which is expected to reach 23,223.6 thousand by 2045. These 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.

By distribution channel, the offline segment is projected to dominate the meal replacement market during the forecast period

By distribution channel, the offline segment is estimated to dominate the market in 2021 and is anticipated to maintain its dominance throughout the forecast period. The large share of the offline distribution channel is attributed to the high distribution of meal replacement products through hypermarkets and supermarkets.

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By region, Asia Pacific is projected to grow at the highest CAGR during the forecast period

The consumption of meal replacement is increasing in the Asia Pacific region due to the increase in the demand from the health-conscious young population across countries such as China, Japan, Australia, and India. The rising consumption of on-the-go food products, changing dietary preferences, and increasing impact of western dietary patterns have led to the increased demand for meal replacement in most developing countries.

Key Market Players:

Key players in this market include Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).

Meal Replacement Market Will Hit Big Revenues In Future

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. It is driven by increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

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The bar segment is projected to grow at a second-high CAGR in the meal replacement market

Based on product type, bar segment is forecasted to grow at a second-high CAGR. Meal replacement bars are an alternative to a complete meal. These bars are fortified with proteins, carbohydrates, fats, vitamins and minerals, and fiber in an adequate quantity required by an average person in a day. These bars are an excellent choice for meal-on-the-go and for weight management programs. Bars are convenient to carry and have a longer shelf-life compared to ready-to-drink options. Owing to these factors the segment is projected to grow at a significant rate.

The supermarket & hypermarkets segment in the offline format accounts for the largest market share in the meal replacement market

Based on offline format stores, supermarkets & hypermarkets segment is the largest segment in the overall meal replacement market. This share can be attributed to the large shelf spaces available in supermarkets. Not only in developed countries such as the US, but consumers in many developing countries such as China, Thailand, India, and Indonesia have started opting for grocery shopping from supermarkets since retail chains are becoming highly organized.

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The North America region is the largest region in the meal replacement market in the forecast period

North America is the largest region in the global meal replacement market in the forecast period. The presence of major meal replacement product manufacturers such as Abbott Laboratories (US), Amway (US), Herbalife Nutrition (US), Atkins (US), Kellogg Co. (US) among others, further drives the market in the region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).

Meal Replacement Market Will Hit Big Revenues In Future

According to MarketsandMarkets "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026", the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. It is driven by increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=740

The bar segment is projected to grow at a second-high CAGR in the meal replacement market

Based on product type, bar segment is forecasted to grow at a second-high CAGR. Meal replacement bars are an alternative to a complete meal. These bars are fortified with proteins, carbohydrates, fats, vitamins and minerals, and fiber in an adequate quantity required by an average person in a day. These bars are an excellent choice for meal-on-the-go and for weight management programs. Bars are convenient to carry and have a longer shelf-life compared to ready-to-drink options. Owing to these factors the segment is projected to grow at a significant rate.

The supermarket & hypermarkets segment in the offline format accounts for the largest market share in the meal replacement market

Based on offline format stores, supermarkets & hypermarkets segment is the largest segment in the overall meal replacement market. This share can be attributed to the large shelf spaces available in supermarkets. Not only in developed countries such as the US, but consumers in many developing countries such as China, Thailand, India, and Indonesia have started opting for grocery shopping from supermarkets since retail chains are becoming highly organized.

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The North America region is the largest region in the meal replacement market in the forecast period

North America is the largest region in the global meal replacement market in the forecast period. The presence of major meal replacement product manufacturers such as Abbott Laboratories (US), Amway (US), Herbalife Nutrition (US), Atkins (US), Kellogg Co. (US) among others, further drives the market in the region.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Abbott Laboratories (US), Glanbia (Ireland), Amway (US), Herbalife Nutrition (US), Nestle (Switzerland), Atkins (US), Huel (UK), Kellogg Co. (US), Skin Enterprises Inc. (US) and USANA Health Sciences Inc. (US).