Meal Replacement Global Market Sales Estimated to Hit $25.74 Billion with CAGR of 8.5% By 2028 | Says The Business Research Company

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Meal Replacement Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The meal replacement market size has grown strongly in recent years. It will grow from $17.27 billion in 2023 to $18.54 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to consumer shift towards convenience foods, retail expansion and availability, fitness and sports industry influence, innovations in ingredient formulations, weight management and fitness trends.

The meal replacement market size is expected to see strong growth in the next few years. It will grow to $25.74 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to shift in retail strategies, growth in health-conscious consumer base, innovation in ingredient formulations, expansion of functional meal replacements, rise in personalized nutrition solutions. Major trends in the forecast period include personalized nutrition solutions, convenience in busy lifestyles, innovation in formulations, health and weight management, rise in functional ingredients.

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Market Segmentation:
The meal replacement market covered in this report is segmented -
1) By Product: Powdered Products, Edible Bars, Ready-to-Drink, Other Products
2) By Application: Weight Gain, Weight Loss, Physical Fitness, Wound Healing, Other Applications
3) By Distribution Channel: Offline, Hypermarkets and Supermarkets, Convenience Stores, Online, Other Distribution Channels

Major Driver - Rising Obesity And Diabetes Rates Propel The Growth Of The Meal Replacement Market
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, In December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide will have diabetes. Therefore, the increasing prevalence of obesity and diabetes is driving the growth of the meal replacement market.

Competitive Landscape:
Major companies operating in the meal replacement market report are Nestlé S.A., Unilever PLC, Abbott Laboratories Inc., GlaxoSmithKline plc, The Kraft Heinz Company, Atkins Nutritionals Inc., Kellogg Company, General Mills Inc., Amway Corporation, Glanbia plc, Herbalife Nutrition Ltd., Nu Skin Enterprises Inc., Blue Diamond Growers Inc., Usana Health Sciences Inc., Oatly Group AB, Huel Limited, Garden of Life LLC, Quest Nutrition LLC, Orgain Inc., ThinkThin LLC, SlimFast Holdings Inc., Ripple Foods Inc., No Cow Inc., Bob's Red Mill Natural Foods Inc., Soylent Nutrition Inc., RXBAR LLC, Perfect Bar LLC, NutriBullet LLC, Epic Provisions Inc., MealSquare LLC, Labrada Nutrition LLC, Dymatize Nutrition LLC

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Top Trend - Advanced Sustenance Pioneering Nutrient-Rich Solutions In The Meal Replacement Market
Major companies operating in the meal replacement market are focusing on advanced products, such as nutritious meal replacement bars, to better meet the needs of their existing consumers. Nutritious meal replacement bars are food items that are comprised of a diverse range of nutrients and are intended to provide an accessible and nutritionally balanced alternative to regular meals. For instance, in June 2022, CTRL, a US-based company that manufactures meal replacement products, launched Meal On-the-Go Bars. Meal-on-the-Go bars have new tasty tastes packed with healthful ingredients that will fulfill the craving whenever and wherever one chooses. The bars are available in two different flavors, such as magic charms and chocolate chip cookie dough. And they're not simply tasty. They're healthy. Each Meal On-the-Go Bar has 15 grams of quality whey protein, 240 calories, 27 grams of nutritious carbs, and 9 grams of fiber. These aren't typical protein bars. They are loaded with vitamins, minerals, proteins, macros, a roasted cashew butter base flavored with honey, and other beneficial components. The bars will satiate hunger while also putting health first.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Meal Replacement Market Characteristics
3. Meal Replacement Market Trends And Strategies
4. Meal Replacement Market - Macro Economic Scenario
5. Meal Replacement Market Size And Growth
…..
27. Meal Replacement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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