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Key Trends Influencing the Growth of the Vegan Meal Replacement Shakes Market in 2025: Technological Advancements And Product Launches In Plant-Based Meal Replacements
Vegan Meal Replacement Shakes Market
What Is the Expected CAGR for the Vegan Meal Replacement Shakes Market Through 2025?
The market for vegan meal replacement shakes has witnessed significant growth lately. The market is projected to expand from $2.48 billion in 2024 to $2.78 billion in 2025, with a compound annual growth rate (CAGR) of 12.1%. This expansion in the historical period is credited to a heightened understanding of plant-based diet, a surge in lactose intolerance and dairy allergies, escalating ethical and environmental concerns, a rising demand for easy and quick nutrition, and an increasing trend of fitness and wellness.
What's the Projected Size of the Global Vegan Meal Replacement Shakes Market by 2029?
Accelerated expansion is anticipated in the vegan meal replacement shakes market in the upcoming years, with a projected growth to $4.34 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The projected growth during this period can be linked to inventive strides in vegan protein sources, a surge in health-aware consumers, expansion of e-commerce and DTC distribution, a boost in investment for sustainable food technologies, and increased government and institutional backing for plant-based diets. Predominant trends during this forecast period encompass progression in plant-based protein extraction methodologies, incorporation of functional ingredients, technological advancements in personalizing nutrition, improvements in sustainable packaging resolutions, and progress in flavor concealing and formulation science.
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Top Growth Drivers in the Vegan Meal Replacement Shakes Industry: What's Accelerating the Market?
The surge in veganism and vegetarianism is predicted to spur the expansion of the vegan meal replacement shakes market in the future. Veganism is the practice of abstaining from all animal-based products, including meat, dairy, eggs, and honey, while vegetarianism avoids animal flesh, but may include dairy and eggs. There is a growing demand for vegan and vegetarian diets as an increasing number of people are becoming conscious of the environmental impact of animal farming, and are opting for more sustainable food choices. Vegan meal replacement shakes aim to support this rise in vegan and vegetarian lifestyles, providing a handy, balanced blend of crucial nutrients without resorting to animal products. This not only helps to fill dietary gaps with sufficient protein, vitamins and minerals, but also fosters a sustainable lifestyle by minimizing reliance on animal farming. For example, Retail Times, a UK-based news organization, reported in January 2024 that 2.5 million UK adults, or 4.7% of the population, have adopted a vegan diet as of early 2024. This marks a substantial increase of 1.1 million from the previous year. Therefore, this growth in veganism and vegetarianism is fueling the expansion of the vegan meal replacement shakes market.
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What Trends Will Shape the Vegan Meal Replacement Shakes Market Through 2029 and Beyond?
The focus for leading businesses in the vegan meal replacement shakes industry is to develop innovative items such as plant-based nutrition to improve product effectiveness, flavor, and digestibility. The concept of plant-based nutrition underscoring food primarily sourced from plants. For example, Drink Wholesome, a protein powder manufacturer based in the US, launched a new vegan meal replacement powder in August 2024 that includes black walnuts, a significant enhancement to their product range. This new vegan meal replacement powder provides unique attributes like the addition of black walnuts, making it one of the first on the market to do so, and offering a unique taste and nutrient-rich profile. The product is made entirely of whole food ingredients such as almonds, oats, coconuts, and monk fruit, ensuring clean and natural nutrition. This formulation doesn't contain ordinary additives like emulsifiers, thickeners, dairy, soy, and gluten, increasing its digestibility and making it perfect for those with sensitive stomachs.
What Are the Main Segments in the Vegan Meal Replacement Shakes Market?
The vegan meal replacement shakes market covered in this report is segmented -
1) By Types: Ready-To-Drink Liquid Beverages, Solid Powder
2) By Ingredient: Soy Protein, Pea Protein, Hemp Protein, Rice Protein, Other Ingredients
3) By Distribution Channel: Supermarkets And Hypermarkets, Health Food Stores, Online, Other Distribution Channels
Subsegments:
1) By Ready-To-Drink Liquid Beverages: Bottled Shakes, Carton Packs, Canned Shakes
2) By Solid Powder: Single-Serve Sachets, Bulk Powder Packs
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Which Top Companies are Driving Growth in the Vegan Meal Replacement Shakes Market?
Major companies operating in the vegan meal replacement shakes market are Herbalife Nutrition Ltd., MyProtein, Ample Foods, Garden of Life LLC, Huel Ltd, YFood Labs GmbH, Orgain Inc., Ripple Foods PBC, Nuzest Life Pty Ltd, Labrada Nutrition, Soylent Nutrition Inc., Saturo Foods GmbH, Only What You Need (OWYN), 310 Nutrition LLC, Jimmy Joy B.V., Tribal Nutrition LLC, Purition Ltd, HLTH Code LLC, Danone S.A., Livestamin Healthcare LLP.
Which Regions Will Dominate the Vegan Meal Replacement Shakes Market Through 2029?
North America was the largest region in the vegan meal replacement shakes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegan meal replacement shakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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