Meal Replacement Products Market - Growth, Trends, and Forecast (2020 - 2025)

Global Meal Replacement Products Market is segmented on the basis of Product Type (Ready-to-Drink Products, Nutritional Bars, Powdered Products, Other Product Types), Distribution Channel (Convenience Stores, Hypermarkets/Supermarkets, Specialty Stores, Online Retailers, Other Distribution Channels), and by Geography.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

8.19 %

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Market Overview

Global meal replacement products market is projected to register a CAGR of 8.19% during the forecast period (2020- 2025).

  • Meal replacement products are gaining traction among the 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.
  • The high growth rate registered by the e-commerce sector is expected to aid the growth of the market studied. As vendors can market their product offerings, such as protein shakes and protein bars, through various online channels.

Scope of the Report

Meal replacement products market is segmented by product type into, ready-to-drink products, nutritional bars, and powdered products, and other product types. By distribution channel the market studied is segmented into, convenience stores, hypermarkets/supermarkets, specialty stores, and online retailer stores, and others. 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.

By Product Type
Ready-to-Drink Products
Nutritional Bars
Powdered Products
Other Product Types
By Distribution Channel
Convenience Stores
Hypermarkets/Supermarkets
Specialty Stores
Online Retailers
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
Spain
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
United Arab Emirates
Rest of Middle East & Africa

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Key Market Trends

Rising Demand for Convenient and Small-Portion Food

The hectic lifestyles of the people have led to disturbed food habits, owing to which, the demand for on-the-go nutrition has increased over the years. Meal replacement shakes and nutrition bars are simple and effective weight loss tools for overweight or obese people with diabetes. These products have shown advantages over self-selective weight-loss diets. 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 growing consumer inclination toward short meals, portraying an increasing demand for healthier, better-for-you meal replacement products in the market.

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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, in order to cater to the needs of consumers.

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Competitive Landscape

The global 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, in order to maintain their positions in the market. Moreover, the global players, such as The Simply Good Foods Company, Amway Corp., and others, focusing on leveraging the opportunities offered by the emerging segments, like sugar-free, vegan, gluten-free, soy-free, and non-GMO products.​

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    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

  5. 5. MARKET SEGMENTATION

    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. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Italy

        4. 5.3.2.4 Spain

        5. 5.3.2.5 France

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    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

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 8. IMPACT OF COVID-19 ON THE MARKET

** Subject to Availability

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