According to IMARC Group’s latest report, titled “Meal Replacement Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global market reached a value of US$ 12.2 Billion in 2021. Meal replacement products represent the pre-packaged and calorie-controlled food items that serve as substitutes for whole-food meals. They include ready-to-eat (RTE) foods, shakes, snack bars, powders, etc. Meal replacement products are rich in essential nutrients, fats, minerals, proteins, fibers, vitamins, complex carbohydrates, etc., which assist in replacing unhealthy or high-calorie meals. Meal replacement products are also available in various flavors, such as vanilla, strawberry, chocolate, blueberry, etc. As a result, they are considered convenient alternatives for healthy and low-calorie meals that can be consumed at any time.
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The growing incidences of obesity and diabetes, coupled with the elevating consumer awareness towards the importance of weight management, are among the key factors driving the meal replacement products market. In line with this, on account of the hectic lifestyles, consumers are increasingly opting for weight reduction and diet programs that involve the consumption of easy-to-prepare nutritional products, which is further propelling the market growth. Moreover, the expanding promotional activities by leading manufacturers and the inflating popularity of online retail channels are also augmenting the global market. Besides this, numerous product innovations, including the introduction of plant-based and organic meal replacement shakes that are free of gluten, artificial colors, sweeteners, preservatives, etc., are anticipated to bolster the meal replacement products market in the coming years. Looking forward, IMARC Group expects the meal replacement products market to reach US$ 19 Billion by 2027, exhibiting a CAGR of 7.5 during 2022-2027.
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.
Competitive Landscape with 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
Market Segmentation:
Breakup by Product Type:
- Ready-to-Drink Products
- Edible Bars
- Powdered Products
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Application:
- Weight Gain
- Weight Loss
- Physical Fitness
- Wound Healing
- Others
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, Others)
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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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