Pune, India, Oct. 11, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global meal replacement products market was assessed at USD 11 billion in 2020 and is anticipated to be worth USD 18.42 billion by 2027, expanding at 7.64% CAGR between 2021-2027. Growing popularity of weight management plans, in tandem with increasing prevalence of obesity are the key factors credited for this expansion.
Additionally, the research literature studies the business sphere extensively by segmenting it based on technology, test type, and end-user spectrum. Details about growth rate projections, revenues generated, and market share captured by each segment are given as well.
Proceeding further, an in-depth overview of the competitive arena of the market sphere, inclusive of key companies, their product and service offerings, and predicted market share & growth rate of each player is incorporated in the document.
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For the unversed, meal replacement products are foods & beverages which are consumed as an alternative for normal meals. These products contain the essential nutrition that are necessary for the human body.
Strategic moves by leading companies to enlarge profit margins will aid industry growth as well. Citing an example, in 2021, Arla Foods Ingredients S.A. launched three new solutions for meal replacement products with a range of micellar casein ingredients and whey protein for high protein bars, protein shakes, ready-to-drink beverages.
While rising incidence of chronic diseases such as diabetes, blood pressure, chronic diseases, cardiovascular diseases, and hectic lifestyle will aid revenue inflow, presence of substitutes will act as a challenge for businesses operating in this domain.
Regional landscape analysis:
Geographically speaking, Asia Pacific captured majority of worldwide meal replacement products industry share in the recent past and is projected to record highest annual growth rate between 2021-2027. Rising health conscience of consumer with preference for healthy products, large customer base, and improving e-commerce coverage are the factors attributed for this growth.
Competitive arena overview:
Abbott Laboratories, Soylent Co., Nestlé S.A., SlimFast (Glanbia plc), Herbalife Nutrition Limited, Blue Diamond Growers, General Mills Inc., Glanbia plc, Healthy 'N Fit International Inc., and Bob's Red Mill Natural Foods Inc. are the leading companies shaping global meal replacement products market dynamics.
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Global Meal Replacement Products Market by Type (Revenue, USD Billion, 2018-2027)
- Powder
- Protein Bar
- Ready to Drink
Global Meal Replacement Products Market by Distribution Channel (Revenue, USD Billion, 2018-2027)
- Offline
- Online
Global Meal Replacement Products Market by Region (Revenue, USD Billion, 2018-2027)
North America
- Canada
- U.S.
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- South Korea
- Japan
- India
- Australia
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
Rest of the World
Global Meal Replacement Products Market Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Abbott Laboratories
- Soylent Co.
- Nestlé S.A.
- SlimFast (Glanbia plc)
- Herbalife Nutrition Limited
- Blue Diamond Growers
- General Mills Inc.
- Glanbia plc
- Healthy 'N Fit International Inc.
- Bob's Red Mill Natural Foods Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Meal Replacement Products Market, by Region, 2019-2027 (USD Billion)
1.2.2. Meal Replacement Products Market, by Type, 2019-2027 (USD Billion)
1.2.3. Meal Replacement Products Market, by Distribution Channel, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Meal Replacement Products Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Meal Replacement Products Market Dynamics
3.1. Meal Replacement Products Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing popularity weight management plans due to prevalence of obesity
3.1.1.2. Rising product launches
3.1.2. Market Restraint
3.1.2.1. Presence of large number of substitute sources of nutrition
3.1.3. Market Opportunities
3.1.3.1. Rising awareness for healthy food products
3.1.3.2. Increasing prevalence of chronic diseases
Chapter 4. Global Meal Replacement Products Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Meal Replacement Products Market, by Type
5.1. Market Snapshot
5.2. Global Meal Replacement Products Market by Type, Performance - Potential Analysis
5.3. Global Meal Replacement Products Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.4. Meal Replacement Products Market, Sub Segment Analysis
5.4.1. Powder
5.4.2. Ready to Drink
5.4.3. Protein Bar
Chapter 6. Global Meal Replacement Products Market, by Distribution Channel
6.1. Market Snapshot
6.2. Global Meal Replacement Products Market by Distribution Channel, Performance - Potential Analysis
6.3. Global Meal Replacement Products Market Estimates & Forecasts by Distribution Channel 2018-2027 (USD Billion)
6.4. Meal Replacement Products Market, Sub Segment Analysis
6.4.1. Online
6.4.2. Offline
Chapter 7. Global Meal Replacement Products Market, Regional Analysis
Related Report:
Pea Protein Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market 2021- 2027
The global pea protein market is anticipated to witness tremendous growth by 2027 due to growing interest in plant-based diets, rising demand for gluten-free products, evolving trend of healthy lifestyle, and growing preference towards highly nutritious and good value products. Pea protein is a vegetable source of protein that extracted from spilt peas. This type of protein is known to be a very rich source of iron and is in fact a top-quality protein. Apart from the obvious, pea protein is also a good source of several nutrients including iron, vitamin B6 and fiber. Pea protein is known to boost heart health, muscle growth, as well as weight loss. Numerous food manufacturers are adding this protein into a number of food items like cereals, energy bars, veggie burgers, along with meal-replacement shakes. Pea protein could also be beneficial to individuals who are lactose-intolerant or those who do not consume any dairy-based protein.
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