Meal Replacement Market

Meal Replacement Market Analysis 2026: Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW)

Report Code: FB 1201 Dec, 2021, by marketsandmarkets.com

The global meal replacement market is projected to reach USD 15,485.7million by 2026, growing at a CAGR of 5.4% between 2021 and 2026. Globally, chronic diseases pose a serious threat to public health. The UN report suggests that the percentage of chronic disease-related mortality in the total number of deaths worldwide is predicted to rise to 70% and represent 56% of the global disease burden by 2030. Maintaining a healthy weight, exercising regularly, and eating a balanced diet are major aspects of a healthy lifestyle that may reduce the chance of developing chronic diseases by as much as 80%. Thus, individual and group consumers are making small but achievable changes to lifestyle behaviors to ensure good health. Consuming meal replacements to meet nutritional needs is one such behavior change. Meal replacements are substitutes for meals that offer a complete range of balanced and sufficient nutrients to meet daily dietary requirements. Prioritizing healthy lifestyle choices and adopting health-promoting diets are expected to increase the consumption of meal replacements and consequent market expansion.

Meal Replacement Market

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Report Scope

Report Metric

Details

Market Size Forecast 2026

USD 15.4 BN

Market Size at 2021

USD 11.8 BN

Estimated CAGR

5.4 %

Recent Update Date

NOV 2022

Market/Geography Specific Customization

Available on Demand

Currency and Unit

USD

Research Duration Considered

2019-2026

Historical Base Year

2020

Key Market Dynamics

4 Types

Segmentation

  • Product Type
  • Distribution Channel
  • Region

Growing Market Geographies

  • North America
  • Europe
  • Asia Pacific
  • South America
  • RoW

Dominant Geography

North America

Government Agencies & Departments

  • US Department of Agriculture
  • National Center for Biotechnology Information
  • US Farm Production and Conservation (FPAC) Business Center
  • US Food Safety and Inspection Service (FSIS)
  • US Agricultural Marketing Service (AMS)
  • US Food and Nutrition Service (FNS)
  • US National Agricultural Statistics Service (NASS)
  • US National Institute of Food and Agriculture (NIFA)
  • US Agricultural Research Service (ARS)

Regulatory Body

  • US Food & Drugs Administration

Leading Manufacturers In Meal Replacement Market

  • 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)

Detailed and Comprehensive Meal Replacement Market Coverage

Increasing prevalence of obesity and diabetes, coupled with the increasing population of health-conscious consumers

The National Health and Nutrition Examination Survey (NHANES) reports that 42.4% of adults are obese, 30.7% are overweight, and 9.2% have severe obesity. Diabetes is a leading cause of kidney failure, heart attacks, strokes, and other serious health problems. Age-specific diabetes mortality rates increased by 3% between 2000 and 2019. Compared to high-income countries, the prevalence of diabetes has been growing more swiftly in low- and middle-income nations. According to a Mintel.com survey published in 2020, consumers are becoming more willing to consume healthy snacks, and when looking for healthier options, they prioritize products with minimal sugar and fat content. Additionally, two out of every five people are now replacing traditional high-salt and high-sugar snacks with bars made of functional foods like oats, resins, nuts, and alike, thus driving the growth of the meal replacement market.

High costs of meal replacement products

A nutritious meal replacement is more expensive than a conventional meal as additional manufacturing processes are required to increase the product's nutritional value. It may deter the growth of the meal replacement market. The high expense of meal replacement is linked to the increased cost of research, development, and personalization.

The emergence of plant-based and vegan meal replacement products

Meal replacements made from vegan ingredients are stocked with plant protein, fiber, good fats, and vital vitamins and minerals. A new breed of fluid meals called vegan meal replacements can perfectly substitute regular food. Some meal replacements come in single-serving bottles that are ready-to-eat (drink), making them a fantastic alternative for food on-the-go, while others are available as a powder that can be combined with milk or water to produce a shake. They are delicious and nutrient-dense. Specifically designed for patients and athletes, the US-based Vejii Holdings launched a plant-based meal replacement called Heal in 2021 that includes plant-based protein, powdered fruits and vegetables, anti-inflammatory superfood extracts, probiotics, and prebiotics.

Misinterpretation of protein shakes for meal replacement shakes

 Consumers are often perplexed by the concepts of protein shakes, and meal replacement shakes and considers them synonymous. It acts as a challenge in the growth of the meal replacement market. Protein shakes are beverages that have protein as the primary ingredient. It could be whey protein, plant-based protein made from hemp, peas, rice, soy, or a combination of grains, or it could be both. They often contain fewer other macronutrients and lower fat and carbohydrate levels. Protein shakes are designed to fulfill only the body's protein requirements and are usually consumed after an intense workout. Contrarily, a meal replacement shake is a beverage that includes vitamins, minerals,  carbohydrates, fats, and protein. They can be used to substitute a whole meal for breakfast, lunch, or dinner and have the potential to meet all the nutritional requirements. They also aid in weight loss, wound healing, and recovery from illnesses.

North America: Meal Replacement Market Market Snapshot

Meal Replacement Market Size, and Share

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North American Dominance in Meal Replacements

North America accounted for the largest market share of 29.5% in 2020 and is expected to grow at a CAGR of 4.6% during the forecast period. CDC suggests that chronic diseases, such as diabetes, cancer, heart disease, and stroke, affect six out of ten Americans. Chronic illnesses are the main contributors to health care costs as well as the major causes of death and disability in the United States. Dietary Guidelines for Americans (Dietary Guidelines), provided by the US health department, offer recommendations to satisfy nutrient requirements, advance health and fend off diseases  The Dietary Guidelines are updated and published every five years by the US Departments of Health and Human Services (HHS) and Agriculture (USDA). The presence of health policies focusing on healthy eating and improved lifestyle choices, together with the willingness of consumers to spend on meal replacement products, contribute to the larger share of the US.

Leading companies in Meal Replacement Business

Key players in this market include Abbott Laboratories (US), Herbalife Nutrition (US), Amway (US), Glanbia Plc (Ireland), and Atkins (US).

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Scope of the Report

This research report categorizes meal replacement market based on product type, distribution channel, and region.

By Product

  • Powder
  • Ready-to-drink
  • Bars
  • Other product types (cookies, soups, and smoothies)

By Distribution Channel

  • Offline
  • Hypermarkets & supermarkets
  • Convenience stores
  • Specialty stores
  • Other offline distribution channels (department stores, local shops, discount stores, among others
  • Online

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Rest of the World (RoW)
    • Middle East
    • Africa

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 9)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 STUDY SCOPE
           FIGURE 1 MARKET SEGMENTATION
           1.3.1 INCLUSIONS AND EXCLUSIONS
    1.4 PERIODIZATION CONSIDERED
    1.5 ASSUMPTIONS FOR THE STUDY
    1.6 LIMITATIONS AND RISK ASSESSMENT OF THE STUDY

2 EXECUTIVE SUMMARY (Page No. - 13)
    TABLE 1 MEAL REPLACEMENT MARKET SNAPSHOT, 2021 VS. 2026
    FIGURE 2 MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2021 VS. 2026 (USD MILLION)
    FIGURE 3 MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2021 VS. 2026 (USD MILLION)
    FIGURE 4 MEAL REPLACEMENT MARKET SHARE AND GROWTH RATE (VALUE), BY REGION, 2021

3 MARKET OVERVIEW (Page No. - 17)
    3.1 INTRODUCTION
    3.2 MARKET DYNAMICS
           FIGURE 5 MARKET DYNAMICS: MEAL REPLACEMENT MARKET
           3.2.1 DRIVERS
                    3.2.1.1 Increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers
                    3.2.1.2 Changing consumer lifestyles and availability of convenient & nutritious meals in the form of meal replacement
           3.2.2 RESTRAINTS
                    3.2.2.1 High costs of meal replacement products
                    3.2.2.2 Presence of unwanted ingredients such as sugar and artificial flavors for taste enhancement
           3.2.3 OPPORTUNITIES
                    3.2.3.1 Emergence of plant-based and vegan meal replacement products
                    3.2.3.2 Growth of the meal replacement market from emerging economies
           3.2.4 CHALLENGES
                    3.2.4.1 Misinterpretation of protein shakes for meal replacement shakes
                    3.2.4.2 Regulatory Implications
                               TABLE 2 REGULATORY REQUIREMENTS FOR MEAL REPLACEMENT

4 MEAL REPLACEMENT MARKET, BY PRODUCT TYPE (Page No. - 22)
    FIGURE 6 MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2021 VS. 2026 (USD MILLION)
    TABLE 3 MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
    TABLE 4 MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (KT)
    4.1 POWDER
           TABLE 5 POWDER: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    4.2 READY-TO-DRINK
           TABLE 6 READY-TO-DRINK: MEAL REPLACEMENT MARKET, BY REGION, 2019–2026 (USD MILLION)
    4.3 BARS
           TABLE 7 BARS:  MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    4.4 OTHER PRODUCT TYPES
           TABLE 8 OTHER PRODUCT TYPES: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)

5 MEAL REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL (Page No. - 26)
    FIGURE 7 MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2021 VS. 2026 (USD MILLION)
    TABLE 9 MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
    TABLE 10 MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
    5.1 OFFLINE
           TABLE 11 OFFLINE: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
           5.1.1 HYPERMARKETS & SUPERMARKETS
                    TABLE 12 HYPERMARKETS & SUPERMARKETS:  MEAL REPLACEMENT MARKET SIZE FOR MEAL REPLACEMENT, BY REGION, 2019–2026 (USD MILLION)
           5.1.2 CONVENIENCE STORES
                    TABLE 13 CONVENIENCE STORES: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
           5.1.3 SPECIALTY STORES
                    TABLE 14 SPECIALTY STORES: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
           5.1.4 OTHER OFFLINE STORES
                    TABLE 15 OTHER OFFLINE STORES: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    5.2 ONLINE
           TABLE 16 ONLINE: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)

6 MEAL REPLACEMENT MARKET, BY REGION (Page No. - 31)
    6.1 INTRODUCTION
           FIGURE 8 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN ASIA PACIFIC, 2021–2026
           TABLE 17 MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
           TABLE 18 MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (KT)
    6.2 NORTH AMERICA
           TABLE 19 FACTS ABOUT NUTRITION-RELATED HEALTH CONDITIONS IN THE US
           TABLE 20 NORTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 21 NORTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           TABLE 22 NORTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           TABLE 23 NORTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           6.2.1 US
                    TABLE 24 US: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.2.2 CANADA
                    TABLE 25 CANADA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.2.3 MEXICO
                    TABLE 26 MEXICO: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
    6.3 EUROPE
           TABLE 27 EUROPE: MEAL REPLACEMENT MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 28 EUROPE: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           TABLE 29 EUROPE: MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           TABLE 30 EUROPE: MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           6.3.1 UK
                    TABLE 31 UK: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.3.2 GERMANY
                    TABLE 32 GERMANY: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.3.3 ITALY
                    TABLE 33 ITALY: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.3.4 SPAIN
                    TABLE 34 SPAIN: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.3.5 FRANCE
                    TABLE 35 FRANCE: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.3.6 REST OF EUROPE
                    TABLE 36 REST OF EUROPE: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
    6.4 ASIA PACIFIC
           TABLE 37 PREVALENCE AND TOTAL NO. OF ADULT DIABETIC PATIENTS IN ASIA PACIFIC, 2020
           TABLE 38 ASIA PACIFIC: MEAL REPLACEMENT MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 39 ASIA PACIFIC: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           TABLE 40 ASIA PACIFIC: MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           TABLE 41 ASIA PACIFIC: MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           6.4.1 CHINA
                    TABLE 42 CHINA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.4.2 INDIA
                    TABLE 43 INDIA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.4.3 JAPAN
                    TABLE 44 JAPAN: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.4.4 REST OF ASIA PACIFIC
                    TABLE 45 REST OF ASIA PACIFIC: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
    6.5 SOUTH AMERICA
           TABLE 46 SOUTH AMERICA:  MEAL REPLACEMENT MARKET SIZE FOR MEAL REPLACEMENT, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 47 SOUTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           TABLE 48 SOUTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           TABLE 49 SOUTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           6.5.1 BRAZIL
                    TABLE 50 BRAZIL: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.5.2 ARGENTINA
                    TABLE 51 ARGENTINA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.5.3 REST OF SOUTH AMERICA
                    TABLE 52 REST OF SOUTH AMERICA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
    6.6 REST OF THE WORLD
           TABLE 53 PREVALENCE AND TOTAL NO. OF ADULT DIABETIC PATIENTS IN THE MIDDLE EAST & AFRICA, 2020
           TABLE 54 REST OF THE WORLD: MEAL REPLACEMENT MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
           TABLE 55 REST OF THE WORLD: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           TABLE 56 REST OF THE WORLD: MEAL REPLACEMENT MARKET SIZE, BY DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           TABLE 57 REST OF THE WORLD: MEAL REPLACEMENT MARKET SIZE, BY OFFLINE DISTRIBUTION CHANNEL, 2019–2026 (USD MILLION)
           6.6.1 MIDDLE EAST
                    TABLE 58 MIDDLE EAST: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)
           6.6.2 AFRICA
                    TABLE 59 AFRICA: MEAL REPLACEMENT MARKET SIZE, BY PRODUCT TYPE, 2019–2026 (USD MILLION)

7 COMPETITIVE LANDSCAPE (Page No. - 54)
    7.1 OVERVIEW
    7.2 COMPANY EVALUATION QUADRANT (KEY PLAYERS)
           7.2.1 STARS
           7.2.2 PERVASIVE PLAYERS
           7.2.3 EMERGING LEADERS
           7.2.4 PARTICIPANTS
                    FIGURE 9 MEAL REPLACEMENT MARKET, COMPANY EVALUATION QUADRANT, 2020

8 COMPANY PROFILES (Page No. - 56)
    8.1 ABBOTT LABORATORIES
    8.2 AMWAY
    8.3 GLANBIA PLC
    8.4 HERBALIFE NUTRITION
    8.5 NESTLE
    8.6 USANA HEALTH SCIENCES INC.
    8.7 NU SKIN ENTERPRISES, INC.
    8.8 ATKINS
    8.9 KELLOGG CO.
    8.10 HUEL

After arriving at the overall meal replacement market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted—top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points matches, the data is assumed to be correct.

Report Objectives

  • Determining and projecting the size of the meal replacement market, with respect to its product type, distribution channel, and regional markets, from 2021 to 2026
  • Identifying the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • Analyzing the micro-markets, with respect to individual growth trends, prospects, and their contribution to the total market

Target Audience:

  • Processed food & beverage manufacturers
  • Government and research organizations
  • Meal replacement product manufacturers
  • Health food & beverage product manufacturers
  • Meal replacement product distributors
  • Marketing directors
  • Key executives from various key companies and organizations in meal replacement market

Available Customizations:

Based on the given market data, MarketsandMarkets offers customizations in the reports according to client-specific requirements. The available customization options are as follows:

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the Rest of Asia Pacific meal replacement market, by key country
  • Further breakdown of the Rest of European meal replacement market, by key country

Company Information

  • Detailed analyses and profiling of additional market players (up to five)
Report Code
FB 1201
Published ON
Dec, 2021
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