Meal Replacement Product Manufacturing in the US - Market Research Report (2014-2029)

On the go: Consumers will have busier schedules and demand more convenience products

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Demand for meal replacement product manufacturers' core customer base, which includes recreational athletes and adults seeking to lose weight, has remained strong during the current period. Although many consumers have reduced discretionary expenditures in response to the unfavorable economic environment during COVID-19, industry revenue still increased in 2020 as consumers sought convenient and nutritious foods to manage weight and supplement diets. So, industry-wide revenue has increased at a CAGR of 3.1% over the past five years - including an estimated 1.7% increase in the current year - and is expected to total $6.1 billion in 2023, while profit decreased to 5.7%.

Companies in this industry manufacture dietary supplement products known as meal replacements. These products come as prepackaged powdered drink mixes, ready-to-drink (RTD) beverages or edible bars designed to replace prepared meals. This industry does not include protein powders, sports nutrition products or edible bars marketed as a protein supplement rather than a meal replacement.