Market Size of South America Meal Replacement Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.11 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Meal Replacement Products Market Analysis
South America meal replacement products market is projected to grow with a CAGR of 6.11% during the forecast period (2020 - 2025).
- With increasing awareness about a healthy diet among the consumers across the region, nutritional bars have become immensely popular, replacing chocolates, cakes, and biscuits as convenient options to the consumers. Key players operating in the market studied are continuously differentiating their products in terms of flavors, ingredients, size, and packaging, in order to gain competitive advantage.
- Moreover, the dominance of meal replacement options in South America is enabling on-the-go snacks product brands to launch price-friendly options, thereby, expanding the product reach is comparatively nascent markets of the region, such as Peru, Chile, Venezuela, etc.
- Furthermore, the support of the government further drives the market. Argentina's government increased its budget by 50% around USD 184 million for public food and nutrition policies by the end of 2019 with an effort to drive financial support to the food programs in the country. The following measure is expected to have a positive impact on the demand for meal replacement products in the country.
