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Meal Replacement Products Market Product Development Survey 2031

Meal Replacement Products Market - Overview

The global meal replacement products market is projected to witness significant growth from 2021 to 2031 (forecast period). The increasing incidence of obesity and diabetes and growing health consciousness among consumers are key factors expected to drive the global meal replacement products market.

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Furthermore, rising consumer awareness of the importance of weight management is expected to fuel demand for a variety of meal replacement products. Various product improvements, such as the launch of plant-based and organic meal replacement beverages free of artificial colors, gluten, sweeteners, and preservatives, are also projected to contribute to global meal replacement products market growth. Moreover, increasing disposable incomes, rapid urbanization, active marketing efforts by manufacturers, and the emergence of online retail channels are anticipated to provide growth prospects to the global meal replacement products market.

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Meal Replacement Products Market - Competitive Landscape

Manufacturers are boosting their efforts in R&D, marketing, product innovation, and the growth of their distribution channels in order to maintain their market positions. Furthermore, global firms such as Simply Good Foods Company and Amway Corp. are focusing on seizing the opportunities presented by developing segments like sugar-free, soy-free, gluten-free, vegan, and non-GMO products.

Manufacturers focus on providing new products with varied nutritional properties in order to target a younger consumer base. Some of the market's significant trends have been digital marketing and celebrity endorsements.

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Meal Replacement Products Market - Trends and Opportunities

The fast-paced lifestyle, combined with increased demand for flavorful, high-quality, and healthful food products, is expected to boost the global meal replacement products market. Long working hours and an increasing number of individuals leading sedentary lifestyles are also projected to fuel the demand for ready-to-eat meal replacement products. These foods have the appropriate combination of fats, proteins, calories, and other essential components and take very little time to prepare. Furthermore, increased consumer awareness about health and ingredient lists as a result of the clean label movement is projected to drive demand for natural and organic meal replacement meals.

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Meal replacement shakes and bars are popular as healthier alternatives to fast foods among consumers. This factor is expected to provide opportunities for market participants to flourish in the global meal replacement products market. Furthermore, the availability of products with varied vitamin combinations is expected to boost demand. The trend toward vegan food is projected to spur innovation in the meal replacement products market. Plant-based meals are being produced by major firms such as Soylent to meet the increasing demands for vegan options.

Meal replacement products are more convenient to store and have a longer life span. The majority of these products are offered in the form of bars or ready-to-drink shakes, making them convenient to transport and consume on the go. One of the most popular product categories, particularly among fitness fanatics, is powdered form. Many gyms offer meal replacement products in order to instill good eating habits in their clientele.

The global lockdown caused by the COVID-19 pandemic has created significant health challenges. Less movement has resulted in stress, which has led to overeating and, eventually, weight gain. During this time, the notion of healthy eating has witnessed enormous popularity, and consumers' attempts to keep themselves self-immune have been critical, sustaining market sales of meal replacements.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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