The global meal replacement market size is expected to reach USD 18.61 Billion in 2030 and register a revenue CAGR of 5.2% over the forecast period, according to latest analysis by Reports and Data. Changing consumer lifestyles and rising health consciousness among the consumers are some key factors expected to drive market revenue growth during the forecast period.
Meal replacement market is expanding in developing countries owing to growing obesity rates, aging population, and growing awareness regarding nutritious foods. There is a rise in lifestyle diseases such as diabetes, osteoporosis, and cardiovascular diseases in countries such as Japan, South Korea, and India, which is expected to drive market revenue growth. In addition, obesity is one of the growing health concerns in many countries. The growing occurrence of chronic diseases is expected to be an opportunity for the meal replacement market and drive the market growth during the forecast period.
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Some Key Highlights in the Report
- Ready-to-drink segment is expected to register a steady CAGR over the forecast period owing to the rising popularity of bottled energy drinks. In addition, celebrity endorsements, packaging design, and digital marketing are driving consumer acceptance for ready-to-drink meals, which is expected to drive revenue growth of the segment during the forecast period.
- Physical fitness segment is expected to register a steady revenue growth rate during the forecast period. Revenue growth of the segment is expected to be driven by rising demand for meal replacement foods among fitness enthusiasts. Many gyms promote and sell meal replacement items to develop healthy dieting habits among their clients, which is expected to drive revenue growth of this segment.
- Europe is expected to register a steady revenue growth rate over the forecast period owing to increasing awareness about the benefits of meal replacement foods. Moreover, growing acceptance of natural ingredient-based meal alternatives and increasing concern about gluten-free diets are the factors expected to drive market revenue growth in the region.
- Companies profiled in the global market report include Abbott Laboratories, Kellogg Company, Herbalife Nutrition Ltd., Unilever Plc, Amway Corp., Nestlé S.A, Huel Inc., Glanbia PLC, General Mills, Inc., Bob’s Red Mill Natural Foods, Inc., Nu Skin Enterprises, and Usana Health Sciences, Inc.
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Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Powder
- Ready-to-Drink
- Protein Bars
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Weight Gain
- Weight Loss
- Physical Fitness
- Wound Healing
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
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Regional Outlook
For comprehensive understanding of market dynamics, the global Meal Replacement Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Meal Replacement Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Meal Replacement Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Meal Replacement Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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