Global Meal Replacement Market - Global Forecast To 2030


Global Meal Replacement Market - Global Forecast To 2030

 Category : Food & Beverages

 Published: Feb-2022
 Author: SPER Analyst

Global Meal Replacement Market is projected to be worth USD 40.39 billion by 2032 and is anticipated to expand at a CAGR of 6.79%.

Customers can quickly and easily swap out regular meals for already-packaged, nutrient-dense substitutes thanks to a section of the food industry known as meal replacement. In addition to drinks, bars, powders, and smoothies, meal replacements are also available in other forms. They include the necessary nutrients and calories while being low in calories and abundant in vitamins and minerals, replacing a complete meal. Meal replacements have become more common because of their usefulness and convenience for busy lifestyles. They market to a wide spectrum of consumers, including athletes, professionals with busy schedules, those trying to lose weight, and those who wish to maintain a healthy lifestyle. Additionally, some meal replacements provide vegan, gluten-free, and dairy-free alternatives to satisfy certain dietary requirements. The meal replacement industry is competitive due to the large number of brands that provide a wide range of goods at various price ranges. As consumers have become more health conscious in recent years, the demand for products that combine nutrition and flavour has skyrocketed. As a result, a number of businesses have expanded the variety of their products by incorporating new flavours, ingredients, and packaging. Despite their advantages and convenience, meal replacements are not intended to replace all meals. They are recommended as a daily supplement or to replace one or two meals. Consumers are recommended to see a healthcare professional before incorporating meal replacements into their diet to ensure they are meeting their nutritional needs.

Due to this, people are now pickier and more careful about the meal replacement items they buy, preferring those that are economical. In addition, because of the pandemic's heightened emphasis on health and wellbeing, customers are paying more attention to the nutritional value of the meal replacement items they use. As a result, companies have had to modify their product lineups to satisfy this demand, placing a focus on foods that are high in protein, low in sugar, and rich in vitamins and minerals. Overall, the COVID-19 pandemic has posed difficulties for the meal replacement industry, but it has also opened up chances for development and innovation. People are increasingly pickier and more cautious about the meal replacement products they purchase as a result, preferring those that are affordable. In addition, customers are paying more attention to the nutritional value of the meal replacement products they use because of the pandemic's increased emphasis on health and wellbeing. In order to meet this demand, businesses have had to alter their product portfolios, putting an emphasis on foods that are high in protein, low in sugar, and abundant in vitamins and minerals. The COVID-19 epidemic has generally presented challenges for the Global Meal Replacement Market, but it has also created opportunities for growth and innovation.

Meal Replacement Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Abbott Laboratories, Amway, Atkins, Glanbia, Herbalife Nutrition, Huel, Kellogg Co., Nestle, Skin Enterprises Inc., USANA Health Sciences Inc.

Global Meal Replacement Market Segmentation:

By Product Types: Based on the Product Types, Global Meal Replacement Market is segmented as; Bars, Powder, Ready to drink, Others.

By Distribution Channel: Based on the Distribution Channel, Global Meal Replacement Market is segmented as; Convenience stores, Hypermarkets & supermarkets, Offline, Online, Specialty stores, Others.

By Region: North America, Europe, and the Asia-Pacific area all have sizable Global Meal Replacement Markets. Because of the rising rates of obesity and the rising demand for convenience foods, North America now has the largest market. With an emphasis on natural and organic meal replacement products, the European market is also expanding. Due to rising consumer health consciousness and the adoption of western eating practises, the market in the Asia Pacific region is anticipated to experience substantial expansion. There are also significant growth prospects in other regions, including South America, the Middle East, and Africa.

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This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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