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Meal Replacement Market Size, Trends, Analysis, and Outlook By Product (Powder, Ready-to-drink, Bars, Others), By Distribution Channel (Offline, Online), by Country, Segment, and Companies, 2024-2032

October 2024 | 190 pages | ID: M3AFA14B6E00EN
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Global Meal Replacement Market Size is valued at $14.3 Billion in 2024 and is forecast to register a growth rate (CAGR) of 5.6% to reach $22.1 Billion by 2032.

The meal replacement market is expanding as busy lifestyles and health-conscious consumers drive demand for convenient, nutrient-dense food options. Meal replacement shakes, bars, and powders are popular for weight management, sports nutrition, and on-the-go consumption. Innovations in plant-based, keto-friendly, and protein-rich formulations are driving market growth.

Meal Replacement Market Drivers, Trends, Opportunities, and Growth Opportunities

The comprehensive report presents unique market trends and challenges shaping the outlook for industry stakeholders. The Future of Meal Replacement survey report provides the market size outlook across types, applications, and segments globally and regionally. It also offers data-driven insights and actionable recommendations for companies in the Meal Replacement industry.

Key market trends defining the global Meal Replacement demand in 2025 and Beyond

The Meal Replacement industry remains an attractive hub for both domestic and global vendors. As we enter 2025, demand from end-user sectors, changes in consumption patterns, new product launches, and widening distribution channels will play major roles.

Meal Replacement Market Segmentation- Industry Share, Market Size, and Outlook to 2032

Rising demand for diverse products and applications fuels the increased investments in niche segments. Leading companies focus on generating a large share of their future revenue growth by expanding into these niche segments. The report presents a market size outlook across segments, supporting companies scaling up production with a focus on potential countries.

Key strategies adopted by companies within the Meal Replacement industry

Leading Meal Replacement companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions. In particular, companies that leverage advanced technologies to achieve operational excellence are set to gain significant revenues. The report details the key strategies adopted by the top 10 Meal Replacement companies.

Meal Replacement Market Study- Strategic Analysis Review

The market research report dives deep into qualitative factors shaping the market, empowering you to make informed decisions.

- Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.

- Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.

- Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.

- Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Meal Replacement Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Meal Replacement industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. With actual data for 2023, the report forecasts the market size outlook from 2024 to 2032 in three scenarios: low case, reference case, and high case.

Meal Replacement Country Analysis and Revenue Outlook to 2032

The report analyzes 22 countries worldwide, including key driving forces and market size outlook from 2021 to 2032. Additionally, it includes region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America. For each region, the market size outlook by segments is forecast for 2032.

North America Meal Replacement Market Size Outlook- Companies plan for focused investments in a changing environment

The US remains the market leader in North America, driven by a large consumer base, well-established providers, and strong infrastructure. Leading companies focus on new product launches in a changing environment. The US GDP is expected to grow from $28,781.1 Billion in 2024 to $36,621 Billion in 2030, driving demand for various Meal Replacement market segments. Similarly, strong market demand encourages Canadian Meal Replacement companies to invest in niche segments. Mexico's investment in technological advancements positions it for significant market expansion.

Europe Meal Replacement Market Size Outlook- Companies investing in assessing consumers, categories, competitors, and capabilities.

The German Meal Replacement industry remains the major market for companies in the European Meal Replacement industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of vendors in identifying and leveraging new growth prospects positions the European Meal Replacement market fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and addressing niche consumer segments.

Asia Pacific Meal Replacement Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing pool of consumer base, robust consumption expenditure, and increasing investments in manufacturing drive the demand for Meal Replacement in Asia Pacific. In particular, China, India, and South East Asian Meal Replacement markets present a compelling outlook for 2032, attracting both domestic and multinational vendors seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate market changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major countries in the APAC region.

Latin America Meal Replacement Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to higher purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Meal Replacement Market Size Outlook- continues its upward trajectory across segments.

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Meal Replacement market potential. Fuelled by increasing consumption expenditure of individuals and growing population drive the demand for Meal Replacement.

Meal Replacement Company Profiles

The global Meal Replacement market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. The leading companies included in the study are Abbott Laboratories, Amway Corp, Glanbia Plc, Herbalife Nutrition Ltd, Huel Ltd, Kellogg Company, Nestle S.A., Skin Enterprises Inc, The Simply Good Foods Company, USANA Health Sciences Inc.

Recent Meal Replacement Market Developments

The global Meal Replacement market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Meal Replacement Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2032 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis
  • Pricing Analysis
  • Value Chain Analysis
  • SWOT Profile
  • Market Dynamics- Trends, Drivers, Challenges
  • Porter’s Five Forces Analysis
  • Macroeconomic Impact Analysis
  • Case Scenarios- Low, Base, High
Market Segmentation:

By Product

Powder

Ready-to-drink

Bars

Others

By Distribution Channel

Offline

-Hypermarkets/Supermarkets

-Convenience stores

-Specialty stores

-Others

Online

Geographical Segmentation:
  • North America (3 markets)
  • Europe (6 markets)
  • Asia Pacific (6 markets)
  • Latin America (3 markets)
  • Middle East Africa (5 markets)
Companies

Abbott Laboratories

Amway Corp

Glanbia Plc

Herbalife Nutrition Ltd

Huel Ltd

Kellogg Company

Nestle S.A.

Skin Enterprises Inc

The Simply Good Foods Company

USANA Health Sciences Inc

Formats Available: Excel, PDF, and PPT
CHAPTER 1: EXECUTIVE SUMMARY

1.1 Study Scope
1.2 Market Definition
1.3 Report Guide
  1.3.1 Country Coverage
  1.3.2 Companies Profiled
  1.3.3 Study Period: 2018 to 2023 and 2024 to 2032
  1.3.4 Units
1.4 Abbreviations

CHAPTER 2. MEAL REPLACEMENT MARKET OVERVIEW- 2025

2.1 An Introduction to the Global Meal Replacement Markets
2.2 Key Statistics
2.3 Region Benchmarking, 2024
2.4 Country Positioning Matrix, 2024

CHAPTER 3. STRATEGIC ANALYSIS REVIEW

3.1 Meal Replacement Industry Stakeholders
3.2 Value Chain Analysis
3.3 Porter’s Five Forces Analysis
3.4 SWOT Profile
3.5 Recent Market Developments

CHAPTER 4. IMPACT ANALYSIS AND SCENARIO FORECASTS

4.1 Russia-Ukraine Conflict Analysis
4.2 COVID-19: Post Pandemic Recovery Analysis
4.3 US Inflation and Sluggish Growth in China
4.4 Focus on Sustainability
4.5 Low Growth Case Scenario: Global Meal Replacement Market Outlook to 2032
4.6 Reference Case Scenario: Global Meal Replacement Market Outlook to 2032
4.7 High Growth Case Scenario: Global Meal Replacement Market Outlook to 2032

CHAPTER 5: MEAL REPLACEMENT MARKET DYNAMICS

5.1 Key Meal Replacement Market Trends
5.2 Potential Meal Replacement Market Opportunities
5.3 Key Market Challenges

CHAPTER 6: GLOBAL MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

6.1 Global Market Outlook by Segments, 2021 to 2032
6.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
6.3 Global Market Outlook by Region, 2021 to 2032

CHAPTER 7: NORTH AMERICA MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

7.1 North America Market Outlook by Segments, 2021- 2032
7.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
7.3 North America Market Outlook by Country, 2021- 2032
  7.3.1 United States Meal Replacement Market Size Forecast, 2021- 2032
  7.3.2 Canada Meal Replacement Market Size Forecast, 2021- 2032
  7.3.3 Mexico Meal Replacement Market Size Forecast, 2021- 2032

CHAPTER 8: EUROPE MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

8.1 Europe Market Outlook by Segments, 2021- 2032
8.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
8.3 Europe Market Outlook by Country, 2021- 2032
  8.3.1 Germany Meal Replacement Market Size Forecast, 2021- 2032
  8.3.2 France Meal Replacement Market Size Forecast, 2021- 2032
  8.3.3 United Kingdom Meal Replacement Market Size Forecast, 2021- 2032
  8.3.4 Spain Meal Replacement Market Size Forecast, 2021- 2032
  8.3.5 Italy Meal Replacement Market Size Forecast, 2021- 2032
  8.3.6 Russia Meal Replacement Market Size Forecast, 2021- 2032
  8.3.7 Rest of Europe Meal Replacement Market Size Forecast, 2021- 2032

CHAPTER 9: ASIA PACIFIC MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

9.1 Asia Pacific Market Outlook by Segments, 2021- 2032
9.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
9.3 Asia Pacific Market Outlook by Country, 2021- 2032
  9.3.1 China Meal Replacement Market Size Forecast, 2021- 2032
  9.3.2 India Meal Replacement Market Size Forecast, 2021- 2032
  9.3.3 Japan Meal Replacement Market Size Forecast, 2021- 2032
  9.3.4 South Korea Meal Replacement Market Size Forecast, 2021- 2032
  9.3.5 Australia Meal Replacement Market Size Forecast, 2021- 2032
  9.3.6 South East Asia Meal Replacement Market Size Forecast, 2021- 2032
  9.3.7 Rest of Asia Pacific Meal Replacement Market Size Forecast, 2021- 2032

CHAPTER 10: SOUTH AMERICA MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

10.1 South America Market Outlook by Segments, 2021- 2032
10.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
10.3 South America Market Outlook by Country, 2021- 2032
  10.3.1 Brazil Meal Replacement Market Size Forecast, 2021- 2032
  10.3.2 Argentina Meal Replacement Market Size Forecast, 2021- 2032
  10.3.3 Rest of South America Meal Replacement Market Size Forecast, 2021- 2032

CHAPTER 11: MIDDLE EAST AND AFRICA MEAL REPLACEMENT MARKET ANALYSIS AND OUTLOOK TO 2032

11.1 Middle East and Africa Market Outlook by Segments, 2021- 2032
11.2 Product
Powder
Ready-to-drink
Bars
Others
Distribution Channel
Offline
-Hypermarkets/Supermarkets
-Convenience stores
-Specialty stores
-Others
Online
11.3 Middle East and Africa Market Outlook by Country, 2021- 2032
  11.3.1 Saudi Arabia Meal Replacement Market Size Forecast, 2021- 2032
  11.3.2 The UAE Meal Replacement Market Size Forecast, 2021- 2032
  11.3.3 Rest of Middle East Meal Replacement Market Size Forecast, 2021- 2032
  11.3.4 South Africa Meal Replacement Market Size Forecast, 2021- 2032
  11.3.4 Rest of Africa Meal Replacement Market Size Forecast, 2021- 2032

CHAPTER 12: COMPETITIVE LANDSCAPE

12.1 Competitive Analysis- Product Profile, SWOT, Financial Profiles
12.2 Key Companies Profiled in the Study
12.3 Abbott Laboratories
Amway Corp
Glanbia Plc
Herbalife Nutrition Ltd
Huel Ltd
Kellogg Company
Nestle S.A.
Skin Enterprises Inc
The Simply Good Foods Company
USANA Health Sciences Inc

CHAPTER 13: SOURCES AND RESEARCH METHODOLOGY

13.1 Primary and Secondary Sources
13.2 Research Methodology
13.3 Data Triangulation and Validation
13.4 Assumptions and Limitations
13.5 Forecast Methodology
Appendix
A: Highlights of the Q4-2024 Version
B: Conclusion and Future Recommendations
C: Customization Options
D: Contact Information

LIST OF FIGURES

Figure 1: Country Analysis: Largest Market Share (%)- 2024 vs. 2032
Figure 2: GDP (Current Prices) Outlook by Country, 2010- 2032
Figure 3: Population Outlook by Country, 2010- 2032
Figure 4: Inflation Outlook by Country (%), 2024- 2032
Figure 5: Global Meal Replacement Market Outlook by Type, 2021- 2032
Figure 6: Global Meal Replacement Market Outlook by Application, 2021- 2032
Figure 7: Global Meal Replacement Market Outlook by Region, 2021- 2032
Figure 8: North America Meal Replacement Market Snapshot, Q4-2024
Figure 9: North America Meal Replacement Market Size Forecast by Type, 2021- 2032
Figure 10: North America Meal Replacement Market Size Forecast by Application, 2021- 2032
Figure 11: North America Meal Replacement Market Share by Country, 2023
Figure 12: Europe Meal Replacement Market Snapshot, Q4-2024
Figure 13: Europe Meal Replacement Market Size Forecast by Type, 2021- 2032
Figure 14: Europe Meal Replacement Market Size Forecast by Application, 2021- 2032
Figure 15: Europe Meal Replacement Market Share by Country, 2023
Figure 16: Asia Pacific Meal Replacement Market Snapshot, Q4-2024
Figure 17: Asia Pacific Meal Replacement Market Size Forecast by Type, 2021- 2032
Figure 18: Asia Pacific Meal Replacement Market Size Forecast by Application, 2021- 2032
Figure 19: Asia Pacific Meal Replacement Market Share by Country, 2023
Figure 20: South America Meal Replacement Market Snapshot, Q4-2024
Figure 21: South America Meal Replacement Market Size Forecast by Type, 2021- 2032
Figure 22: South America Meal Replacement Market Size Forecast by Application, 2021- 2032
Figure 23: South America Meal Replacement Market Share by Country, 2023
Figure 24: Middle East and Africa Meal Replacement Market Snapshot, Q4-2024
Figure 25: Middle East and Africa Meal Replacement Market Size Forecast by Type, 2021- 2032
Figure 26: Middle East and Africa Meal Replacement Market Size Forecast by Application, 2021- 2032
Figure 27: Middle East and Africa Meal Replacement Market Share by Country, 2023
Figure 28: United States Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 29: Canada Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 30: Mexico Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 31: Germany Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 32: France Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 33: United Kingdom Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 34: Spain Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 35: Italy Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 36: Russia Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 37: Rest of Europe Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 38: China Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 39: India Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 40: Japan Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 41: South Korea Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 42: Australia Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 43: South East Asia Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 44: Rest of APAC Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 45: Brazil Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 46: Argentina Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 47: Rest of LATAM Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 48: Saudi Arabia Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 49: UAE Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 50: South Africa Meal Replacement Market Size Outlook, $ Million, 2021- 2032
Figure 51: Research Methodology
Figure 52: Forecast Methodology

LIST OF TABLES

Table 1: Market Scope and Segmentation
Table 2: Global Meal Replacement Market Size Outlook, $Million, 2021 to 2032
Table 3: Low Case Scenario Forecasts
Table 4: Reference Case Scenario Forecasts
Table 5: High Growth Scenario Forecasts
Table 6: Global Meal Replacement Market Size Outlook by Segments, 2021- 2032
Table 7: Global Meal Replacement Market Size Outlook by Region, 2021- 2032
Table 8: Country Mapping, 2023 vs. 2032
Table 9: North America- Meal Replacement Market Outlook by Type, 2021- 2032
Table 10: North America- Meal Replacement Market Outlook by Country, 2021- 2032
Table 11: Europe - Meal Replacement Market Outlook by Type, 2021- 2032
Table 12: Europe - Meal Replacement Market Outlook by Country, 2021- 2032
Table 13: Asia Pacific - Meal Replacement Market Outlook by Type, 2021- 2032
Table 14: Asia Pacific - Meal Replacement Market Outlook by Country, 2021- 2032
Table 15: South America- Meal Replacement Market Outlook by Type, 2021- 2032
Table 16: South America- Meal Replacement Market Outlook by Country, 2021- 2032
Table 17: Middle East and Africa - Meal Replacement Market Outlook by Type, 2021- 2032
Table 18: Middle East and Africa - Meal Replacement Market Outlook by Country, 2021- 2032
Table 19: Business Snapshots of Leading Meal Replacement Companies
Table 20: Product Profiles of Leading Meal Replacement Companies
Table 21: SWOT Profiles of Leading Meal Replacement Companies


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