Market Research Report
Meal Replacement Global Market Report 2022
|Meal Replacement Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Meal Replacement Global Market Report 2022 ” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global meal replacement market.
This report focuses on meal replacement market which is experiencing strong growth. The report gives a guide to the meal replacement market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the meal replacement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Meal Replacement market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider meal replacement market, and compares it with other markets.
Major players in the meal replacement market are: Abbott Laboratories, Amway Corp., Atkins, Blue Diamond Growers, General Mills Inc., Glanbia plc, Herbalife Nutrition Ltd, Huel Ltd., Kellogg Company, Nestle SA, The Kraft Heinz Company, Unilever plc, Usana Health Sciences Inc., GlaxoSmithKline plc., SlimFast, Nu Skin Enterprises Inc., and Bob's Red Mill Natural Foods.
The global meal replacement market is expected to grow from $14.68 billion in 2021 to $16.02 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The meal replacement market is expected to grow to $20.63 billion in 2026 at a CAGR of 6.5%.
The meal replacement market consists of sales of meal replacement products by entities (organizations, sole traders, and partnerships) that are used as a substitute for solid foods that contain the required quantities of calories and nutrients for the body. Meal replacement refers to a protein- and nutrient-enriched product intended to replace a meal. These are available in powdered drink form or as ready-made drinks.
The main types of products in the meal replacement market are powdered products, edible bars, ready-to-drink, and others. Powdered products refer to the products that are available in various powdered forms and are mainly intended as substitutes for various solid foods with the necessary amounts of calories and nutrients that are required for the body. These are used in weight gain, weight loss, physical fitness, wound healing, and other applications and are distributed through hypermarkets, supermarkets, convenience stores, online, and other distribution channels.
North America was the largest region in the meal replacement market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the meal replacement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The meal replacement market research report is one of a series of new reports from The Business Research Company that provides meal replacement market statistics, including meal replacement industry global market size, regional shares, competitors with a meal replacement market share, detailed meal replacement market segments, market trends and opportunities, and any further data you may need to thrive in the meal replacement industry. This meal replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing prevalence of obesity and diabetes is expected to propel the growth of the meal replacement market going forward. Increasing diabetes is due to factors such as ethnicity, aging, and lifestyle. Meal replacement products are mostly used to treat diabetes by maintaining weight loss. However, as they are high in nutrients yet low in calories, they can also be used to treat obesity. For instance, according to the International Diabetes Federation 2019, the global diabetes prevalence in 2019 was around 9.3%, which is estimated to rise to 10.2% by 2030. Therefore, the increasing prevalence of obesity and diabetes is driving the growth of the meal replacement market.
Innovation in meal replacement products is a key trend gaining popularity in the meal replacement market. Companies in the meal replacement industry are forming various partnerships to develop new technologies and launch new products. For instance, in May 2021, Unilever, a UK-based company operating in meal replacement products, partnered with ENOUGH, a UK-based food-tech company. This partnership develops new plant-based meat products using ENOUGH's unique zero-waste fermentation process technology and will increase Unilever's potential with future innovations in the meal replacement portfolio.
In 2022, Solace Nutrition, a medical nutrition company that manufactures effective nutrition formulas as dietary supplements to help individuals manage their nutritional needs, acquired R-Kane Nutritional for an undisclosed amount. This acquisition helps Solace's strategic extension into an adjacent nutrition market. R-Kane Nutritional is a US-based company that specializes in high protein meal replacements for managing weight in individuals.
The countries covered in the meal replacement market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.