Meal Replacement Market Report 2023-2032: Market Size, Growth Drivers And Key Trends

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Meal Replacement Global Market Report 2023 identifies increasing prevalence of obesity and diabetes as the major driver for the Meal Replacement market's growth in the forecast period. 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.

The global meal replacement market size grew from $16.16 billion in 2022 to $17.51 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global meal replacement is expected to grow to $23.32 billion in 2027 at a CAGR of 7.4%.

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Major competitors in the Meal Replacement market are Abbott Laboratories, Amway Corp., Atkins, Blue Diamond Growers, General Mills Inc., Glanbia plc, Herbalife Nutrition Ltd., Huel Ltd.

A key trend in the Meal Replacement market includes innovation in meal replacement products. 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.

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The Meal Replacement market is segmented -
• By Product: Powdered Products, Edible Bars, Ready-to-Drink, Other Products
• By Application: Weight Gain, Weight Loss, Physical Fitness, Wound Healing, Other Applications
• By Distribution Channel: Offline, Hypermarkets and Supermarkets, Convenience Stores, Online, Other Distribution Channels
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Meal Replacement market.

The Business Research Company's "Global Meal Replacement Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Meal Replacement Market Include:

1. Executive Summary
2. Meal Replacement Market Characteristics
3. Meal Replacement Market Trends And Strategies
4. Meal Replacement - Macro Economic Scenario
5. Meal Replacement Market Size And Growth
……………………………………………………………………………
26. Africa Meal Replacement Market
27. Meal Replacement Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Meal Replacement Market
29. Meal Replacement Market Future Outlook and Potential Analysis
30. Appendix

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