Global Meal Replacement Products Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

Global Meal Replacement Products Market Overview:

“The global Meal Replacement Products Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Meal replacement products are available in market in different forms such as drinks or bars. Meal replacement products help the burden of housewives preparing meals at home. Meal replacement products contain minerals, vitamins, and mass as same in solid food. The most interesting thing with meal replacement products is that these products do not cause weight loss but helps to balance nutrient content in body. Besides bodybuilders, hectic scheduled people and daily workers often use meal replacement products.

As these products are high in protein and low in calories, consumers use it to meet their different fitness goals. The product is also rich with content of fatty acids, minerals, complex carbohydrates, vitamins, and fiber. Consumers use meal replacement products when on a tight schedule, travel, and unforeseen situations as these situations make them difficult to prepare a well-balanced meal.  In addition to these comfort, meal replacement products are also used in metabolic medicine and weight management programs.

The major benefits of these products are that these products can be stored easily and generally have a longer shelf life. Most of these meal replacement products are available as ready-to-drink shakes or bars, which makes consumers to grab it easily and consume on the go. Along with bars, and ready to drink products, meal replacement products are also available in powdered forms too, which are mostly used by fitness enthusiasts.

Dynamics

Increasing awareness of people regarding weight management and weight loss. owing to a high prevalence of cardiovascular diseases, diabetes, and obesity, is expected to drive growth of the global meals replacement market over the forecast period. These replacement products contain protein, fiber, 200 to 400 calories and many other essential nutrients. These elements in meal replacement products are expected to further support demand for meal replacement products in the global market during the forecast period.

Other factors expected to derive demand for the products are hectic schedule of consumers and increasing demand for high-quality, tasty, and healthy food products. In addition, an increasing number of people with a sedentary lifestyle and long working hours are projected to support demand for ready-to-eat products in the global meal replacement products market during the forecast period. Consumers prefer these meal replacement products as these foods provide the right balance of proteins, calories, fats, and many other healthy nutrients.

Also, it takes very little time to cook these products. Moreover, increasing consumer awareness about ingredient and nutrition lists displayed in the label is projected to increase demand for these products, both natural and organic, in the global market over the forecast period.

In addition, consumers also consider meal replacement products as healthy replacement for fast food, which is projected to increase demand for the product. Products with different nutrient combinations are available in the market, which is also expected to drive demand for the product in the global market over the forecast period. Moreover, consumer inclination towards adopting vegan foods provides an opportunity for manufacturers to make innovations in the meal replacement products market.

Global Meal Replacement Products Market Segment Analysis:

By Product:

Among the product segments, the powder segment accounts for highest revenue share in the global meal replacement products market and is expected to continue its dominance over the forecast period. This growth of the segment is attributed to the wide use of meal replacement products in the form of powder by fitness enthusiasts around the globe. In addition, easy-storage of powder products and fast-paced lifestyles are attributed to this growth of the segment.

By Distribution Channel:

The offline segment among the distribution channel segments has been gaining traction, attributed to a huge offline network of manufacturers to distribute the product globally. In addition, the factor that manufacturers have control over where and how their products are displayed in hypermarket or supermarket is driving the growth of the segment.

Global Meal Replacement Products Market Regional Analysis:

The market in North America is expected to register a high revenue share over the forecast period. This is attributed to an increasing number of consumers with health-conscious and rising incidences of diabetes, obesity, cardiovascular diseases, and high cholesterol levels and high blood pressure levels in the region.

Global Meal Replacement Products Market Segmentation: 

By Product:

• Powder
• Ready to Drink
• Protein Bar

 By Distribution Channel:

• Online
• Offline

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa