Meal Replacement Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Meal Replacement Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global meal replacement products market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
A meal replacement product is a pre-packaged and calorie-controlled food product that acts as a substitute for a whole food meal. Ready-to-eat foods, shakes, bars and powders are the common types of meal replacement products available in the market. They are rich in essential nutrients, fats, proteins, fibers, vitamins, minerals and complex carbohydrates that aid in replacing unhealthy or high-calorie meals and suppressing subsequent food cravings. These products are also available in a wide variety of flavours, such as vanilla, strawberry, chocolate, blueberry and orange. Owing to this, meal replacement products are considered to be a convenient alternative for a healthy and low-calorie meal that can be consumed at any time.
An alarming increase in the prevalence of obesity and diabetes, along with rising health consciousness among consumers, is one of the key factors driving the growth of the market. Furthermore, growing consumer awareness regarding weight management is also catalyzing the demand for various meal replacement products. Owing to the hectic lifestyles and busy schedules, consumers are increasingly opting for weight management and diet programs that include easy-to-prepare nutritional products. This has provided a significant boost to the demand for meal replacement products across the globe. Additionally, various product innovations, such as the introduction of plant-based and organic meal replacement shakes that are free of gluten, artificial colors, sweeteners and preservatives, are acting as another growth-inducing factor. Rising disposable incomes, rapid urbanization, aggressive promotional activities by manufacturers and the development of online retail channels are also projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global meal replacement products market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel and application.
Breakup by Product Type:
Ready-to-Drink Products
Edible Bars
Powdered Products
Others
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Breakup by Application:
Weight Gain
Weight Loss
Physical Fitness
Wound Healing
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Abbott Laboratories, Blue Diamond Global Ingredients Division, Bob's Red Mill Natural Foods, General Mills, Glanbia Plc, Healthy 'N Fit International Inc., Herbalife International of America Inc., Kellogg Company, Nestle SA, Nutrisystem Inc., Unilever Plc, Ksf Acquisition Corporation, etc.
Key Questions Answered in This Report:
How has the global meal replacement products market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global meal replacement products market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global meal replacement products market and who are the key players?
What is the degree of competition in the industry?
The global meal replacement products market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
A meal replacement product is a pre-packaged and calorie-controlled food product that acts as a substitute for a whole food meal. Ready-to-eat foods, shakes, bars and powders are the common types of meal replacement products available in the market. They are rich in essential nutrients, fats, proteins, fibers, vitamins, minerals and complex carbohydrates that aid in replacing unhealthy or high-calorie meals and suppressing subsequent food cravings. These products are also available in a wide variety of flavours, such as vanilla, strawberry, chocolate, blueberry and orange. Owing to this, meal replacement products are considered to be a convenient alternative for a healthy and low-calorie meal that can be consumed at any time.
An alarming increase in the prevalence of obesity and diabetes, along with rising health consciousness among consumers, is one of the key factors driving the growth of the market. Furthermore, growing consumer awareness regarding weight management is also catalyzing the demand for various meal replacement products. Owing to the hectic lifestyles and busy schedules, consumers are increasingly opting for weight management and diet programs that include easy-to-prepare nutritional products. This has provided a significant boost to the demand for meal replacement products across the globe. Additionally, various product innovations, such as the introduction of plant-based and organic meal replacement shakes that are free of gluten, artificial colors, sweeteners and preservatives, are acting as another growth-inducing factor. Rising disposable incomes, rapid urbanization, aggressive promotional activities by manufacturers and the development of online retail channels are also projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global meal replacement products market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, distribution channel and application.
Breakup by Product Type:
Ready-to-Drink Products
Edible Bars
Powdered Products
Others
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Breakup by Application:
Weight Gain
Weight Loss
Physical Fitness
Wound Healing
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Abbott Laboratories, Blue Diamond Global Ingredients Division, Bob's Red Mill Natural Foods, General Mills, Glanbia Plc, Healthy 'N Fit International Inc., Herbalife International of America Inc., Kellogg Company, Nestle SA, Nutrisystem Inc., Unilever Plc, Ksf Acquisition Corporation, etc.
Key Questions Answered in This Report:
How has the global meal replacement products market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global meal replacement products market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global meal replacement products market and who are the key players?
What is the degree of competition in the industry?
Table of Contents
143 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Meal Replacement Products Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Product Type
- 6.1 Ready-to-Drink Products
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Edible Bars
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Powdered Products
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 7 Market Breakup by Distribution Channel
- 7.1 Hypermarkets and Supermarkets
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Convenience Stores
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Specialty Stores
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Online Stores
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 8 Market Breakup by Application
- 8.1 Weight Gain
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Weight Loss
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Physical Fitness
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Wound Healing
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
- 10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
- 11 Value Chain Analysis
- 12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
- 13 Price Indicators
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Abbott Laboratories
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Blue Diamond Global Ingredients Division
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Bob's Red Mill Natural Foods
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 General Mills
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Glanbia Plc
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Healthy 'N Fit International Inc.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Herbalife International of America Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Kellogg Company
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Nestlé S.A.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Nutrisystem Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 SWOT Analysis
- 14.3.11 Unilever Plc
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Ksf Acquisition Corporation
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
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