Meal replacement products market is projected to grow at a considerable CAGR of 6.5% during the forecast period. Meal replacement products are enriched with nutrients and minerals, tend to have fewer calories than meals, and can help in cutting down on binge eating. Therefore, the rising prevalence of obesity, diabetes, and cardiovascular diseases across the globe along with rising awareness regarding the health benefits regarding intake of meal replacement products is expected to drive the growth of the global meal replacement products. The significant rise in the intake of convenient food owing to busy and hectic lifestyle is further creating demand of such ready to eat food products. As per a recent survey held by the US Department of Agriculture (USDA) (2018), which included over 15,000 households, demonstrated that nearly 45 cents on each dollar spent for food products at the household was spent for convenience items. Averagely, a greater share of the food dollar was utilized for buying convenience foods by individuals in the Northeast than by people in other regions of the US.
The rising preference of meal replacement bars, shakes, and powders as a healthy alternatives to fast foods is anticipated to offer lucrative opportunities for the players operating in the meal replacement products market. The growing inclination of consumers toward vegan food is anticipated to promote innovation in the meal replacement products market which in turn is anticipated to drive the market growth. Meal replacement products are easy to store and have longer shelf-life. Most of these items are available in the form of bars or shakes that are ready-to-drink, making them easy to transport and eat on the go.
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Meal Replacement Products Market Segmentation
By Product
- Ready-to-Drink Products
- Nutritional Bars
- Powdered Products
- Others
By Distribution Channel
- Convenience Stores
- Supermarket/Hypermarket
- Online Store
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of The World
Company Profiles
- Arca Continental, S.A.B. De C.V.
- Aryzta AG
- Calbee, Inc.
- Campbell Soup Co.
- Conagra Brands, Inc.
- General Mills, Inc.
- Grupo Bimbo
- Intersnack Group Gmbh& Co. KG
- ITC, Ltd.
- JFC International
- Lamb Weston Holdings, Inc.
- Lorenz Bahlsen Snack-World Gmbh& Co KG
- Mccain Foods, Ltd.
- Mondelez International, Inc.
- Nestlé S.A.
- Oberto Group
- Pepsico, Inc.
- The Hain Celestial Group, Inc.
- The Kellogg Company
- The Kraft Heinz Co.
- Universal Robina Corp.
- Want Want Holdings Ltd.
- The Campbell Soup Company
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