Meal Replacement Market by Product Type, Distribution Channel and Region - Global Forecast to 2026

"The meal replacement market is projected to grow at a CAGR of 5.4% during the forecast period."

According to Researcher, the global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. The market is primarily driven by factors such as increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meal in the form of meal replacement. However, high cost associated with meal replacement products and presence of unwanted ingredients such as sugar, and artificial flavors for taste enhancement are expected to restrain the market growth.

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"By product type, the ready-to-drink segment is projected to account for the second-largest market share in the forecast period."

Based on product type, the ready-to-drink segment is projected to account for the second-largest market share during the forecast period. Ready-to-drink meal replacement products are packaged beverages that are in the ready-to-consume form. These products are a more convenient and easy way of increasing protein intake. These are available in different flavors and sizes. These factors are expected to drive the demand for ready-to-drink products.

"By distribution channel, the offline segment is estimated to account for the largest share."

The offline segment of the meal replacement products is dominating the market. Owing to the presence of multiple formats of offline stores such as supermarkets & hypermarkets, convenience stores, specialty stores, among others are expected to drive the demand for offline segment in the global meal replacement market.

"The European region is projected to grow at a significant rate during the forecast period"

European region is projected to grow at a significant rate for the period considered for this study. The key factors driving growth in the European region include health benefits, burden of disease associated with poor nutrition, and demand for nutritious diet to promote a healthy lifestyle among people, are expected to drive the demand for meal replacement in the region.

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Leading players profiled in this report include the following:

Abbott Laboratories (US)
Glanbia (Ireland)
Amway (US)
Herbalife Nutrition (US)
Nestle (Switzerland)
Atkins (US)
Huel (UK)
Kellogg Co. (US)
Skin Enterprises Inc. (US)
USANA Health Sciences Inc. (US)

Corporate Headquarters
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013, India

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This release was published on openPR.