Meal Replacement Market by Product Type, Category, Distribution Channel

List of Tables

[188 Pages Report] The Meal Replacement Market size was estimated at USD 14.80 billion in 2023 and expected to reach USD 15.71 billion in 2024, at a CAGR 6.19% to reach USD 22.53 billion by 2030.

Global Meal Replacement Market

KEY MARKET STATISTICS
Base Year [2023]	USD 14.80 billion
Estimated Year [2024]	USD 15.71 billion
Forecast Year [2030]	USD 22.53 billion
CAGR (%)	6.19%

Meal replacement products are specifically designed to provide a convenient way to achieve a balanced intake of essential nutrients without having to consume a full meal. These products are typically rich in proteins, carbohydrates, fats, vitamins, and minerals required for a daily diet. They come in various forms, such as shakes, bars, powders, and drinks, and are often utilized by individuals looking to manage their weight and athletes requiring quick nutrition. The demand for meal replacement options is propelled by factors such as the rising health consciousness, the increase in lifestyle-related diseases, and the demand for convenience foods. Enhanced distribution channels and the surge of online platforms also boost the accessibility and popularity of meal replacement products. However, incidences of product recall caused by inadequate quality control and bacterial contamination impede the widespread adoption of meal replacement options. Additionally, stringent labeling requirements, difficulties associated with adequate and appropriate packaging, and inadequate dietary nutrients provided by meal replacement options raise concerns about the benefits of meal replacement. However, manufacturers are constantly innovating with food formulations and researching nutritional profiles to increase the nutritional value of meal replacement items. Furthermore, research about sustainable sourcing and environmentally friendly packaging solutions can also elevate brand perception and meet consumer demands for ethical products.

Regional Insights

In the Americas regions, particularly in the US and Canada, rising awareness about the benefits of managing diet and nutrition to control incidences of diabetes and obesity has stimulated the need for meal replacement items. Additionally, the Americas are characterized by the presence of key food and beverage industries that are constantly exploring new food formulations and product launches to cater to consumers' changing food and diet preferences. Europe's stringent regulations that drive sustainability in food processing industries promote advancements in meal replacement options. Consumers in the EU demonstrate an inclination towards organically sourced meal replacements. In countries such as China and India, the meal replacement industry is at a nascent stage but showing potential due to the burgeoning fitness trend and increasing disposable income. Japan has a well-established meal replacement culture, with a strong market presence of both domestic and international brands. Additionally, meal replacement companies can explore the creation of food options that cater to the specific tastes of the consumers.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Meal Replacement Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Meal Replacement Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Meal Replacement Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Ample Foods, Amway Corp., Atlantic Essentials Products, Inc., Bariatrix Nutrition Inc., BHI Biohealth International GmbH, Bob's Red Mill Natural Foods, Inc., Glanbia PLC, GNC Holdings, LLC, Healthy 'N Fit International Inc., Herbalife Nutrition Ltd., Huel Ltd., KAG Industries, Ka'Chava by Tribal Nutrition LLC, Koninklijke DSM N.V., Laboratoire PYC, Medisys Biotech Pvt. Ltd., Nestle S.A., Nutrisystem Inc., Orgain, Inc., PepsiCo, Inc., Perrigo Company PLC, Rootana Ltd., Saturo Food GmbH, Soylent Nutrition, Inc., The Archer-Daniels-Midland Company, The Kellogg Company, Trinkkost GmbH, Tyson Foods, Inc., and Unilever PLC.

Market Segmentation & Coverage

This research report categorizes the Meal Replacement Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product Type
- Bars
- Powder
- Ready-To-Drink
Category
- Nuts & Dairy-Free
- Organic Protein-based
- Original & Complete
- Plant-based
Distribution Channel
- Offline
  - Convenience Stores
  - Hypermarkets & Supermarkets
  - Specialty Stores
- Online
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Meal Replacement Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Meal Replacement Market?

3. What are the technology trends and regulatory frameworks in the Meal Replacement Market?

4. What is the market share of the leading vendors in the Meal Replacement Market?

5. Which modes and strategic moves are suitable for entering the Meal Replacement Market?

Product Code: MRR-8201ABF2117F

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Meal Replacement Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing emphasis on health and wellness and adopting a balanced diet
  - 5.1.1.2. Preference for subscription-based meal replacement online delivery services
  - 5.1.1.3. Rising popularity of plant-based and vegan meal replacements
- 5.1.2. Restraints
  - 5.1.2.1. Potential lack of nutritional diversity and variety
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing R&D in food science for improved formulation of meal replacement products
  - 5.1.3.2. Introduction of customized and personalized meal replacement
- 5.1.4. Challenges
  - 5.1.4.1. Quality and labeling issues associated with meal replacement
5.2. Market Segmentation Analysis
- 5.2.1. Product Type: Ongoing advancements to improve the taste and nutritional profiles of ready-to-drink meal replacement options
- 5.2.2. Category: Preference for plant-based among vegan and vegetarian consumers
- 5.2.3. Distribution Channel: Expansion of online distribution channels due to the preference for convenient shopping
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Meal Replacement Market, by Product Type

6.1. Introduction
6.2. Bars
6.3. Powder
6.4. Ready-To-Drink

7. Meal Replacement Market, by Category

7.1. Introduction
7.2. Nuts & Dairy-Free
7.3. Organic Protein-based
7.4. Original & Complete
7.5. Plant-based

8. Meal Replacement Market, by Distribution Channel

8.1. Introduction
8.2. Offline
- 8.3.1. Convenience Stores
- 8.3.2. Hypermarkets & Supermarkets
- 8.3.3. Specialty Stores
8.3. Online

9. Americas Meal Replacement Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Meal Replacement Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Meal Replacement Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Merger & Acquisition
  - 12.3.1.1. Starco Brands Acquires Soylent Nutrition
- 12.3.2. Agreement, Collaboration, & Partnership
  - 12.3.2.1. GNC and CTRL Announce New Partnership and Exclusive Launch of Product Line for Gamers
- 12.3.3. New Product Launch & Enhancement
  - 12.3.3.1. Herbalife Introduces Array of New Wellness Products Tailored to Needs of Consumers in Asia Pacific

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. Abbott Laboratories
- 13.1.2. Ample Foods
- 13.1.3. Amway Corp.
- 13.1.4. Atlantic Essentials Products, Inc.
- 13.1.5. Bariatrix Nutrition Inc.
- 13.1.6. BHI Biohealth International GmbH
- 13.1.7. Bob's Red Mill Natural Foods, Inc.
- 13.1.8. Glanbia PLC
- 13.1.9. GNC Holdings, LLC
- 13.1.10. Healthy 'N Fit International Inc.
- 13.1.11. Herbalife Nutrition Ltd.
- 13.1.12. Huel Ltd.
- 13.1.13. KAG Industries
- 13.1.14. Ka'Chava by Tribal Nutrition LLC
- 13.1.15. Koninklijke DSM N.V.
- 13.1.16. Laboratoire PYC
- 13.1.17. Medisys Biotech Pvt. Ltd.
- 13.1.18. Nestle S.A.
- 13.1.19. Nutrisystem Inc.
- 13.1.20. Orgain, Inc.
- 13.1.21. PepsiCo, Inc.
- 13.1.22. Perrigo Company PLC
- 13.1.23. Rootana Ltd.
- 13.1.24. Saturo Food GmbH
- 13.1.25. Soylent Nutrition, Inc.
- 13.1.26. The Archer-Daniels-Midland Company
- 13.1.27. The Kellogg Company
- 13.1.28. Trinkkost GmbH
- 13.1.29. Tyson Foods, Inc.
- 13.1.30. Unilever PLC
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing