Meal Replacement Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Meal Replacement Products Market is Segmented by Product Type (Ready-to-drink Products, Nutritional Bars, Powdered Products, and Other Product Types), Distribution Channel (Convenience Stores, Hypermarkets/Supermarkets, Specialty Stores, Online Retailers, Other Distribution Channels), and Geography (North America, Asia-Pacific, Europe, South America, Middle-East and Africa). The report offers market size and forecasts in value (USD million) for all the above segments.

Market Snapshot

Meal Replacement Products Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 8.26 %

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Market Overview

The meal replacement products market was valued at USD 11,006.79 million in 2020, and it is projected to witness a CAGR of 7.64% during the forecast period, 2021-2026.

The indefinite lockdown globally due to the COVID-19 pandemic has initiated unprecedented challenges for health, where consumers’ adaptation of this lifestyle has been touted as the new normal. Lesser movements have led to stress, leading to excessive eating and ultimately weight gains. The concept of healthy eating has witnessed tremendous support during this period, and consumers’ efforts to keep themselves self-immune have been of utmost importance, supporting the sales of meal replacements in the market.

The meal replacement products market is more established in the Western countries, preferably in the European and North American regions. However, the Asia-Pacific region poses an imminent growth potential over the coming years. Currently, all the countries of the world have been intensively affected by the coronavirus, thus potentially harming economic growth.

Meal replacement products are gaining traction among consumers who are monitoring special diets, majorly those managing weight or watching their blood sugar levels due to diabetes. Additionally, the market targets consumers with time constraints, busy lifestyles, and hectic work schedules by helping them replace their meals with healthier and nutritious products over conventional snacks.

By product type, nutrition bars led the market due to the diverse variety of products available in terms of flavor, portion size, and functionality when compared to other segments, like powdered supplements or RTD products. Moreover, nutrition bars are relatively cheaper than other meal replacement products, making consumers more vulnerable to try them.

Scope of the Report

Meal replacement products are pre-packaged, calorie‐controlled products in a bar or powder mix that can be made into a shake or beverage, having been validated as safe and effective tools for weight loss (and weight maintenance). The meal replacement products market is segmented by product type into ready-to-drink products, nutritional bars, powdered products, and other product types. By distribution channel, the market studied is segmented into convenience stores, hypermarkets/supermarkets, specialty stores, online retailer stores, and other distribution channels. The various health benefits associated with the consumption of meal replacement products are driving the growth of the market studied. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

By Product Type
Ready-to-drink Products
Nutritional Bars
Powdered Products
Other Product Types
By Distribution Channel
Convenience Stores
Specialty Stores
Online Retailers
Other Distribution Channels
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle-East and Africa
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Key Market Trends

Rising Demand for Convenient and Small-portion Food

According to the United States Department of Agriculture (USDA), Americans spend more than half of their food budget on convenient foods, looking for small and time-saving meals. This is increasing the demand for products like protein bars, energy bars, and shakes, further driving the market studied. The nutrition bars offer a portable, convenient, and often healthier choice for a quick, on-the-go meal or an immediate consumption choice. The availability of various types and flavors is an added factor driving the market. As a result, these bars are becoming extremely popular, especially among the working-class population, teenagers, people living in hostels, and bachelors. According to a survey conducted by Welch’s in 2017, about 92% of millennials reported having been replacing their meals with snacks. The data depicts a growing consumer inclination toward short meals, portraying an increasing demand for healthier, better-for-you meal replacement products in the market.

Meal Replacement Products Market Key Trends

North America Accounted for the Largest Market Share

The North American region accounted for the largest share, in terms of revenue, in 2019. The United States is one of the leading markets for meal replacement products in the North American region. Local players introduced meal replacement products, such as protein shakes, which are not only low in calories but also healthy. Thus, meal replacement products are emerging as a popular choice among consumers in the region. Moreover, market players are focusing on introducing all-organic meal replacement shakes to cater to the needs of consumers. Moreover, the multi-purpose functionality and on-the-go convenience of meal replacement products, such as drinks, are attracting consumers across North America. In addition, the presence of retail outlets that are suitable for convenient foods, which benefit from both planned and impulse purchases, poises an advantage that other snacks do not have. ​

Meal Replacement Products Market Growth Rate By Region

Competitive Landscape

The meal replacement products market is highly competitive, with the top players accounting for half of the total market share. The manufacturers are increasing their investments in R&D, marketing, innovation of their products, and the expansion of their distribution channels to maintain their positions in the market. Moreover, global players such as the Simply Good Foods Company and Amway Corp. are focusing on leveraging the opportunities offered by the emerging segments, like sugar-free, vegan, gluten-free, soy-free, and non-GMO products.​

Recent Developments

In 2020, Huel launched its new Huel Black Edition, a nutritious meal replacement shake from the brand that boasts 33% more protein than Huel Powder, as well as 50% fewer carbs and a formula that is naturally gluten-free and made without artificial sweeteners.

In 2019, Bob’s Red Mill extended its oats from a bowl to a snack bar product with the first foray into the snack aisle. Bob’s Better Bars are gluten-free, Non-GMO Project verified, and free of soy, dairy, and eggs. Each bar offers up to 7 grams of protein and a good amount of fiber to help fuel runners, parents, kids, and anyone looking for a quick breakfast, afternoon pick-me-up, or meal replacement.

In 2018, Abbott introduced a new product called Ensure® Max Protein. The Ensure® Max Protein product is a 150-calorie nutrition drink with 30 grams of high-quality protein and 1 gram of sugar. Ensure Max Protein comes in two great flavors, including Milk Chocolate and Café Mocha.

In 2017, Soylent’s launched Coffiest, Chai, and Vanilla flavors for ready-to-go drinks. The product contains an amino acid that prevents the caffeine jitters, making it the perfect breakfast alternative.

In 2016, Kellog's Special K expanded its line-up of snack bars and launched the New Special K Protein Trail Mix bars, in two flavors, i.e., chocolate-peanut-pecan and fruit and nut. Each bar has 8 g of protein.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Ready-to-drink Products

      2. 5.1.2 Nutritional Bars

      3. 5.1.3 Powdered Products

      4. 5.1.4 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Convenience Stores

      2. 5.2.2 Hypermarkets/Supermarkets

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Online Retailers

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. Spain

        5. France

        6. Russia

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. South Africa

        2. United Arab Emirates

        3. Rest of Middle-East and Africa


    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Abbott Laboratories

      2. 6.4.2 Amway Corp. (Alticor)

      3. 6.4.3 Bob's Red Mill Natural Foods

      4. 6.4.4 Herbalife Nutrition

      5. 6.4.5 Glanbia PLC

      6. 6.4.6 The Simply Good Foods Company

      7. 6.4.7 The Kellogg Company

      8. 6.4.8 Nestle SA

      9. 6.4.9 The Kraft Heinz Company

    5. *List Not Exhaustive


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Frequently Asked Questions

The Meal Replacement Products Market market is studied from 2016 - 2026.

The Meal Replacement Products Market is growing at a CAGR of 8.26% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, Bob’s Red Mill Natural Foods, Herbalife International of America, Inc., Glanbia Plc, The Kellogg Company are the major companies operating in Meal Replacement Products Market.

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