Meal Replacement Market Analysis 2021, Industry Size, share by Regions, Growth, Key Players with Product Profiles, Application, Impact of COVID-19, Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Meal Replacement Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Meal Replacement Market products.

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REPORT HIGHLIGHT

The Meal Replacement Market was valued at USD 15.34 billion by 2017, growing with 6.5% CAGR during the forecast period, 2018-2025.

Meal replacement products industry is quickly gaining ground across the globe owing to the changing in consumer lifestyles and hectic schedules. These products are catering to a specific set of consumer requirements such as people looking for gaining muscle mass, losing weight etc. Such foods are primarily designed to mimic the nutritional profile of real food as much as possible with the right mixture of healthy calories, fats, carbohydrates and protein. The market is positively influenced by rising incidence of lifestyle disorders such as diabetes, obesity, and others; wherein these products act as the best alternative option for lack of regular meals.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The industry is shifting towards mature and diversify business models, and new entries into the market space is opening up opportunities for paleo, keto and vegan meal replacement products. Also, owing to the emerging concept for fitness support or digestive health, plant-based and non-dairy meal replacement products are in demand. As per the statistics by U.S. based Plant Based Foods Association, the demand for plant-based food products grew by over 20% during the year 2017-2018.

Products Takeaway

In terms of products, the market is divided into edible bars, powered and ready-to-drink products. Powered product accounted for the significant revenue share. Garden of Life Raw Organic Meal, Vega One All-In-One, Idealshake, Nature’s Bounty Complete Protein and Vitamin and Labrada Lean Body are some of the powered products commercially available.

Distribution Channel Takeaway

In terms of distribution channel, the industry is categorized into hypermarkets, grocery retailers, supermarkets, online retailers, and food services. Of these, the same of meal replacement products from hypermarket and supermarket accounted for highest revenue share.

Regional Takeaway

North America accounted for the highest revenue share. Skyrocketing obesity population coupled with new product developments support the regional growth. For instance, local companies are introducing meal replacement foods like protein shakes with low in calories and contains healthy nutrition, thereby making it a popular choice among end-users in the region. On contrary, Asia Pacific regions is projected to grow with fastest growth rate owing to the large population base, growing consumer awareness coupled with increasing investment by new players.

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Key Vendors Takeaway

It is noted that large number of key players are gaining investor to expand product offering in multiple meal replacement niches. For instance, established in 2013, Soylent is a fastest growing meal replacement product manufacturer. The company introduced Soylent Squared series product, engineered with 5 grams of plant protein and 36 essential nutrients. Along with, company’s Soylent Drinks, Soylent Bridge and Soylent Powder products are gaining popularity among the customers. The company’s capital funding partner includes Tao Capital Partners, Lerer Hippeau Ventures and Andreessen Horowitz.

Some of the vendors in the meal replacement market are as follows;

Healthy ‘N Fit International

Kellogg

Amazing Grass

Herbalife

Kraft Heinz

MET-Rx

Onnit Labs

Orgain

Ultimate Superfoods

GlaxoSmithKline

Nestlé

Nouveau Dietetique

Nutiva

Nutrisystem

Abbott

Glanbia

SlimFast

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies

Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCTS

Edible Bars

Powered Products

Ready-to-Drink Products

MARKET, BY DISTRIBUTION CHANNEL

Hypermarkets

Grocery Retailers

Supermarkets

Online Retailers

Food Services

MARKET, BY REGION

North America

The U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

The Middle East and Africa

Latin America

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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