Global Meal Replacement Market Overview
According to SPER Market Research, the Global Meal Replacement Market is estimated to reach USD 40.39 billion by 2032 with a CAGR of 6.79%.
A sector of the food industry called meal replacement offers consumers a quick and easy way to switch out typical meals for already-packaged, nutritionally sound alternatives. Meal replacements are available in a variety of formats, including drinks, bars, powders, and smoothies. They are meant to replace a full meal while being low in calories and high in vitamins and minerals, providing the essential nutrients and calories. Due to its usability and convenience for busy lifestyles, meal replacements have grown in popularity. A wide range of customers are targeted by their marketing, including athletes, professionals with demanding schedules, people looking to lose weight, and people who want to keep up a healthy lifestyle. Additionally, some meal substitutes provide options that are vegan, gluten-free, and dairy-free to accommodate particular dietary needs. With numerous brands offering a variety of products at varying price points, the meal replacement business is competitive. The demand for goods that offer a combination of nutrition and taste has increased as consumers have grown more health conscious in recent years. As a result, several companies have increased the variety of their products by adding fresh flavours, components, and packaging. Although their benefits and convenience, meal replacements are not meant to take the place of every meal. Instead, they are advised as a daily supplement or as a replacement for one or two meals. To make sure they are achieving their nutritional needs, consumers are advised to speak with a healthcare provider before integrating meal replacements into their diet.
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Impact of COVID-19 on the Global Meal Replacement Market
In terms of the Global Meal Replacement Market, the COVID-19 pandemic has both positive and bad effects. On the one hand, with lockdowns and social segregation policies in place, many consumers turned to meal replacements as a quick and secure option for meal consumption. Meal replacement product demand increased as a result, particularly for products that were simple to get online. On the other hand, the pandemic also led to worldwide supply-chain disruptions, which had an impact on the availability and cost of several meal replacement products. The pandemic's economic effects also led to a decline in consumer expenditure and a change in consumer habits towards more frugal shopping. 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.
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Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product Types, By Distribution Channel.
|
| Geographies covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Abbott Laboratories, Amway, Atkins, Glanbia, Herbalife Nutrition, Huel, Kellogg Co., Nestle, Skin Enterprises Inc., USANA Health Sciences Inc.
|
Target Audience:
- Fitness Enthusiast
- Health and Wellness Industry
- Food and Beverage Industry
- Supermarkets
Global Meal Replacement Market Segmentation:
1. By Product Types:
- Bars
- Powder
- Ready to drink
- Others
2. By Distribution Channel:
- Convenience stores
- Hypermarkets & supermarkets
- Offline
- Online
- Specialty stores
- Others
3. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Meal Replacement Market (FY’2019-FY’2032)
- Overview of Global Meal Replacement Market
- Segmentation of Global Meal Replacement Market By Product Types (Bars, Powder, Ready to drink, Others)
- Segmentation of Global Meal Replacement Market By Distribution Channel (Convenience stores, Hypermarkets & supermarkets, Offline, Online, Specialty stores, Others)
- Statistical Snap of Global Meal Replacement Market
- Growth Analysis of Global Meal Replacement Market
- Problems and Challenges in Global Meal Replacement Market
- Competitive Landscape in the Global Meal Replacement Market
- Impact of COVID-19 and Demonetization on Global Meal Replacement Market
- Details on Recent Investment in Global Meal Replacement Market
- Competitive Analysis of Global Meal Replacement Market
- Major Players in the Global Meal Replacement Market
- SWOT Analysis of Global Meal Replacement Market
- Global Meal Replacement Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Meal Replacement Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Meal Replacement Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Meal Replacement Market
7. Global Meal Replacement Market, By Product Types, 2019-2032 (USD Million)
7.1 Bars
7.2 Powder
7.3 Ready to drink
7.4 Others
8. Global Meal Replacement Market, By Distribution Channel, 2019-2032 (USD Million)
8.1 Convenience stores
8.2 Hypermarkets & supermarkets
8.3 Offline
8.4 Online
8.5 Specialty stores
8.6 Others
9. Global Meal Replacement Market, By Region, 2019-2032 (USD Million)
9.1 Global Meal Replacement Market Size and Market Share by Region (2019-2025)
9.2 Global Meal Replacement Market Size and Market Share by Region (2026-2032)
9.3 Asia-Pacific
9.3.1 Australia
9.3.2 China
9.3.3 India
9.3.4 Japan
9.3.5 South Korea
9.3.6 Rest of Asia-Pacific
9.4 Europe
9.4.1 France
9.4.2 Germany
9.4.3 Italy
9.4.4 Spain
9.4.5 United Kingdom
9.4.6 Rest of Europe
9.5 Middle East and Africa
9.5.1 Kingdom of Saudi Arabia
9.5.2 United Arab Emirates
9.5.3 Rest of Middle East & Africa
9.6 North America
9.6.1 Canada
9.6.2 Mexico
9.6.3 United States
9.7 Latin America
9.7.1 Argentina
9.7.2 Brazil
9.7.3 Rest of Latin America
10. Company Profiles
10.1 Acme-Hardesty Company
10.1.1 Company details
10.1.2 Financial outlook
10.1.3 Product summary
10.1.4 Recent developments
10.2 Barleans
10.2.1 Company details
10.2.2 Financial outlook
10.2.3 Product summary
10.2.4 Recent developments
10.3 BASF SE
10.3.1 Company details
10.3.2 Financial outlook
10.3.3 Product summary
10.3.4 Recent developments
10.4 Connoils
10.4.1 Company details
10.4.2 Financial outlook
10.4.3 Product summary
10.4.4 Recent developments
10.5 Croda International Plc.
10.5.1 Company details
10.5.2 Financial outlook
10.5.3 Product summary
10.5.4 Recent developments
10.6 Dupont
10.6.1 Company details
10.6.2 Financial outlook
10.6.3 Product summary
10.6.4 Recent developments
10.7 Emery Oleochemicals Group
10.7.1 Company details
10.7.2 Financial outlook
10.7.3 Product summary
10.7.4 Recent developments
10.8 Henry Lamotte Oils GmbH
10.8.1 Company details
10.8.2 Financial outlook
10.8.3 Product summary
10.8.4 Recent developments
10.9 Jarrow formula’s
10.9.1 Company details
10.9.2 Financial outlook
10.9.3 Product summary
10.9.4 Recent developments
10.10 KLK Oleo
10.10.1 Company details
10.10.2 Financial outlook
10.10.3 Product summary
10.10.4 Recent developments
10.11 Koninklijke DSM N.V.
10.11.1 Company details
10.11.2 Financial outlook
10.11.3 Product summary
10.11.4 Recent developments
10.12 Lonza Group Ltd.
10.12.1 Company details
10.12.2 Financial outlook
10.12.3 Product summary
10.12.4 Recent developments
10.13 Musim Mas Holdings
10.13.1 Company details
10.13.2 Financial outlook
10.13.3 Product summary
10.13.4 Recent developments
10.14 Now foods
10.14.1 Company details
10.14.2 Financial outlook
10.14.3 Product summary
10.14.4 Recent developments
10.15 Nutiva
10.15.1 Company details
10.15.2 Financial outlook
10.15.3 Product summary
10.15.4 Recent developments
10.16 Nutricia
10.16.1 Company details
10.16.2 Financial outlook
10.16.3 Product summary
10.16.4 Recent developments
10.17 P&G Chemicals
10.17.1 Company details
10.17.2 Financial outlook
10.17.3 Product summary
10.17.4 Recent developments
10.18 Stepan Company
10.18.1 Company details
10.18.2 Financial outlook
10.18.3 Product summary
10.18.4 Recent developments
10.19 Sternchemie GmbH & Co. KG
10.19.1 Company details
10.19.2 Financial outlook
10.19.3 Product summary
10.19.4 Recent developments
10.20 Wilmar International Limited
10.20.1 Company details
10.20.2 Financial outlook
10.20.3 Product summary
10.20.4 Recent developments
11.List of Abbreviations
12.Reference Links
13.Conclusion
14.Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
