Global Meal Replacement Market Analysis Report 2023: Historical Market Revenue Data for 2022, Estimates for 2023, and CAGR Projections through 2028
DUBLIN, Oct. 11, 2023 /PRNewswire/ -- The "Global Meal Replacement Market" report has been added to ResearchAndMarkets.com's offering.
The global meal replacement market was worth $12.5 billion in 2022 and is expected to reach $18.4 billion by 2028. The North American region accounted for the most significant global meal replacement market share. The Asia-Pacific market is projected to have the fastest growth rate of 7.7% during the forecast period.
The global meal replacement market exhibits several key segments, including powder, ready-to-drink, meal replacement bars, and others. Notably, in 2022, the powder segment claimed the largest share in the global meal replacement market. However, it is the meal replacement bars segment that is poised for the most rapid growth, expected to achieve a growth rate of 7.6% during the forecast period.
When it comes to distribution channels, the global meal replacement market can be categorized into online and offline segments. As of 2022, the offline segment commands the largest share in the global meal replacement market. Nevertheless, the online segment is projected to exhibit the most robust growth rate, estimated at 7.5% during the forecast period.
The meal replacement market is anticipated to undergo expansion in the coming years, driven by factors such as the rising prevalence of diabetes, increasing obesity rates, and a growing awareness among consumers about the advantages of embracing a healthy lifestyle. The fast-paced and hectic lifestyles of modern consumers often leave limited time for traditional meal preparation.
Meal replacement products offer a convenient and time-efficient solution for individuals constantly on the move. Additionally, the growth of e-commerce and online retail has expanded the accessibility of meal replacement products to consumers worldwide.
The COVID-19 pandemic had a significant impact on the meal replacement market, both positively and negatively. During lockdowns and periods of restricted movement, there was an uptick in demand for convenient and shelf-stable food options, including meal replacement products. Consumers turned to these products as a quick and hassle-free way to maintain their nutritional intake while adhering to social distancing guidelines.
The report also provides insights into the major players within each regional meal replacement market. Furthermore, it delves into the primary drivers of the global meal replacement market, regional dynamics, and current industry trends. The report concludes with a comprehensive examination of the vendor landscape, featuring complete profiles of the major players in the market.
Market size estimations are presented in terms of value (U.S. $ millions), with 2022 serving as the base year, and the market forecast extending from 2023 to 2028. Additionally, regional-level market sizes are provided based on product type and distribution channels.
Report Includes
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue forecast for global meal replacement market, and corresponding market share analysis based on product, distribution/sales channel, and region
- In-depth information (facts and figures) concerning market growth drivers, opportunities and challenges, current trends, products, regulations, and new industries related to meal replacement
- Holistic review of the impact of Covid-19 and the Russia-Ukraine war on meal replacement market
- A look at the manufacturers and other market participants involved in the meal replacement market, and analyze the structure of this industry (e.g., market shares, concentration and recent merger and acquisition (M&A) activity)
- Understanding of the importance of ESG in meal replacement market, consumer attitudes towards sustainability, risks and opportunity assessment, and ESG practices followed by different types of companies, manufacturers and other industry participants
- Analysis of the company competitive landscape of major stakeholder companies based on their recent developments, key financials and segmental revenues, and operational integration
Profile descriptions of the leading market players in the market of the industry, including
- Abbott Laboratories
- General Mills Inc
- Herbalife Nutrition Ltd
- Kellogg Co
- Nestle S.A.
Key Topics Covered:
Chapter 1 Introduction
- Study Goals and Objectives
- Reasons for Doing this Study
- Scope of Report
- Methodology
- Information Sources
- Geographic Breakdown
Chapter 2 Summary and Highlights
- Market Outlook
- Summary
Chapter 3 Industry Overview
- Introduction
- Supply Chain Analysis
- Ingredient Sourcing/Raw Material Procurement
- Product Manufacturing
- Distribution
- Consumers
- Regulatory Landscape
- Labeling for Nutrient Content Declaration: Meal Replacements
- Swot Analysis of Meal Replacement
- Strengths
- Weakness
- Opportunities
- Threats
Chapter 4 Esg Analysis
- Importance of Esg
- Esg Pillars in Meal Replacement Industry
- Industry Esg Performance Analysis
- Case Study
- Future Trends
- Concluding Remarks
Chapter 5 Market Dynamics
- Porter's Five Forces Analysis
- Threat of New Entrants: Low
- Bargaining Power of Buyers: Moderate
- Bargaining Power of Suppliers: Moderate
- Threat of Substitutes: High
- Competitive Rivalry: High
- Market Growth Drivers
- Increasing Health Awareness Drives the Demand for Meal Replacement
- Rising Demand for Small-Portion Food and Snacking
- Growing Demand for Plant-Based Meal Replacement
- Growing Prevalence of Obesity and Diabetes
- Market Restrains
- Growing Regulations for Meal Replacement
- Misconception About Meal Replacement Products
- Higher Cost of Meal Replacement Products
- Market Opportunities
Chapter 6 Market Breakdown by Product Type
- Introduction
- Powder
- Ready to Drink
- Meal Replacement Bars
- Others
Chapter 7 Market Breakdown by Distribution Channel
- Introduction
- Online
- Offline
- Convenience Stores
- Hypermarkets/Supermarkets
- Specialty Stores
- Others
Chapter 8 Market Breakdown by Region
- Global Market for Meal Replacements
- North American Market for Meal Replacements by Country
- United States
- Canada
- European Market for Meal Replacements by Country
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Asia-Pacific Market for Meal Replacements by Country
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin American Market for Meal Replacements by Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East and African Market for Meal Replacements by Country
- South Africa
- United Arab Emirates
- Rest of the Middle East and Africa
Chapter 9 Patent Review
Chapter 10 Competitive Landscape
- Market Share Analysis
- Strategic Developments
Chapter 11 Company Profiles
- Abbott Laboratories
- Amway Corp.
- Atkins
- Garden of Life
- General Mills Inc.
- Glanbia plc
- Healthy N Fit International Inc.
- Herbalife International of America Inc.
- Huel Inc.
- Kellogg Co.
- Nestle S.A.
- Nutrisystem Inc.
- Orgain Inc.
- Soylent
- Usana Health Sciences
For more information about this report visit https://www.researchandmarkets.com/r/4ezhcb
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article