Global Meal Replacement Products Market By Product (Powder, RTD, Protein Bar, Others), Distribution Channel (Online, Offline), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Meal Replacement Products Market
Global meal replacement products market is expected to register a substantial CAGR of 6.90% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the surging focus on adoption of these products from online sales channel along with their characteristic of having a high shelf-life.
Market Definition: Global Meal Replacement Products Market
Meal replacement products are the various food and beverage variants available in the market which are developed as a substitute for solid meals. These products are developed keeping in mind the appropriate amounts of nutrition required by the body and are therefore meant for providing “fuel” to consumers. These products are majorly in the form of beverages as protein shakes as it is easiest to consume and extract nutrients from. These products are enriched with the required vitamins, minerals, proteins in very low calorie content form.
- Increasing awareness amongst consumers regarding maintaining a healthier lifestyle is expected to propel the growth of the market
- High incidences of population suffering from obesity is expected to fuel the adoption of low-calorie products
- Various celebrity endorsements from famous athletes and sports personalities is giving rise to greater penetration of products in a number of regions; this factor is expected to boost the market growth
- Significant changes in lifestyles of individuals resulting in significantly low amount of time for consuming a proper nutritious meal also acts as a market driver
- Presence of a number of alternative source of nutrition that are available locally in various regions; this factor is expected to hinder the growth of the market
- High costs associated with the production and marketing of these products which results in overall higher costs of end-product is restricting this market growth
Segmentation: Global Meal Replacement Products Market
- Ready-To-Drink (RTD)
- Protein Bar
By Distribution Channel
- Online Retailers
- Convenience Stores
- Specialty Stores
- North America
- Rest of Europe
- South Korea
- New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In March 2019, Herbalife International of America, Inc. announced the availability of “Formula 1 Select Meal Replacement Shake” along with “Protein Drink Mix Select”. The products have been based on plant-nutrition incorporated with high quality natural ingredients such as rice proteins, pea and quinoa. These ensure that the consumers suffering from various food allergies from dairy, soy and gluten can meet the nutritional requirements of their bodies and can attain high amounts of protein
- In January 2019, Rosa Foods owner of Soylent brand of products announced the availability of a new product range “Soylent Bridge” fulfilling the hunger requirements of consumers between meals at a significantly low calorie content of 180 per serving. This product ensures that the consumers are provided with a highly nutritious form of protein that do not consist of high sugar content
Global meal replacement products market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of meal replacement products market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global meal replacement products market are Soylent; Abbott; Nestlé Health Science; Herbalife International of America, Inc.; SlimFast; Blue Diamond Growers; Glanbia plc; General Mills Inc.; Bob’s Red Mill Natural Foods; Healthy 'N Fit International Inc..; Kellogg NA Co.; Encore; PepsiCo; PREMIER NUTRITION CORPORATION; Labrada.com; Vega (US); ICONIC Protein; United States Nutrition, Inc.; Orgain, Inc.; MET-Rx Substrate Technology, Inc. & WorldPantry.com®, Inc.; CytoSport, Inc.; OWYN among others.
Research Methodology: Global Meal Replacement Products Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure