PUBLISHER: Allied Market Research | PRODUCT CODE: 1414942
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414942
According to a new report published by Allied Market Research, titled, "Meal Replacement Shakes Market," The meal replacement shakes market was valued at $3 billion in 2022, and is estimated to reach $7 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.
Consumers' daily schedules have become hectic over the years, necessitating a lifestyle change to tackle the daily chores. Lifestyle change is negatively impacting the health of people and is becoming a major cause of health difficulties such as obesity, cardiovascular illness, and vitamin deficiencies. The response to this aforementioned problem is that manufacturers of Meal replacement shakes have developed drinks that are high in minerals, alkaloids, antioxidants, and protein. To address such demands, market players are introducing novel and innovative products. For instance, XLS Medical, a subsidiary of Perrigo Company Plc., launched a new range of Meal replacement shakes, Active Shape in three flavors, including chocolate, strawberry, and vanilla. Customers are encouraged to shift from sweetened beverages to Meal replacement shakes due to the associated health benefits such as colon cleansing capabilities, anti-aging, and skin hydration properties, with alkaline Meal replacement shakes.
The most concerning issue, today, across the globe is environmental deterioration, which is aggravated by industrial manufacturers, as these industries use low-quality packaging and processing material. The usage of low-quality plastic bottles and metal cans harms the environment by increasing the carbon footprint. Carton packaging for Meal replacement shakes products (excluding ready-to-drink) can be the solution to this issue. The use of cartons reduces environmental stress and aids in the prevention of plastic pollution. Manufacturers are developing innovative carton packaging technologies to extend the shelf life of the product and protect the product from sunlight, moisture, and foreign particles. For example, Tetra Pak introduced its Leap Accelerator Program in 2021, which assists manufacturing firms in planning and developing various goods that would address the current market needs. It allows the development of new packaging for high acidic products that were previously difficult. Thus, carton packaging may solve environmental problems while ensuring product safety.
The global Meal replacement shakes market is segmented into product type, flavor, sales channel, and region. Depending on product type, the market is categorized into liquid and powder. On the basis of flavor, it is segregated into vanilla, chocolate, strawberry, banana, and others. By sales channels, it is categorized into hypermarkets/supermarkets, drug stores & pharmacies, convenience stores, online channels, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, South Africa, and rest of LAMEA).
Players operating in the global Meal replacement shakes market have adopted various developmental strategies to expand their Meal replacement shakes market share, increase profitability, and remain competitive in the market. The key players profiled in this report include: Amway International Inc, Abbott Laboratories, Trinkkost GmbH, Perrigo Company, Herbalife International of America, Inc., Nestle S/A, Kellogg Company, Huel Inc., Atkins US., and USANA Health Sciences Inc. The other market players are National Beverage Corporation, Biofood EST, Saturo Foods GmbH, Nutrition & Sante Iberia SL, Soylent, Inc., Peeroton GMBH, Marico Pvt Ltd., Formulite Pty Ltd., NU Skincare Inc., and Zywie Ventures Private Limited.
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