Meal Replacement Shakes Market - Growth, Trends, and Forecasts (2022 - 2027)

The global meal replacement shakes market is projected to register a CAGR of 8.49% during the forecast period (2021- 2026).

Key Highlights

• Meal replacement products are gaining traction among the consumers who are monitoring special diets, majorly those managing weight, or watching their blood sugar levels due to diabetes.
• Additionally, the market targets consumers with time constraints, busy lifestyles, and hectic work schedules, by helping them replace their meals with healthier and nutritious shakes over conventional snacks.
• The high growth rate registered by the e-commerce sector is expected to aid the growth of the market studied, as vendors can market their product offerings such as protein shake through various online channels.
• COVID-19 lockdowns globally have initiated unprecedented challenges for health, where consumers’ adaptation of the lifestyle has been touted as the new normal. Lesser movements have led to a temptation to stress, leading to excessive eating and ultimately falling for weight gains. The concept of healthy eating has witnessed tremendous support during this period, and consumers effort to keep themselves self-immune has been of utmost importance. Thus, with the rising demand for nutritional products, in an attempt by theconsumers to lose weight, the demand for meal relacement shakes has been rising drastically.

Key Market Trends

Rising Demand for Convenient and Small-Portion Diet Food

The hectic lifestyles of consumers have led to disturbed food habits, owing to which, the demand for on-the-go nutrition has increased over the years. Meal replacement shakes are simple and effective weight loss tools for overweight or obese people, and thus, he demand is driven by the convenience it offers. These products have shown advantages over self-selective weight-loss diets. According to a survey conducted by Welch’s in 2017, about 92% of millennials reported having been replacing their meals with snacks or meal replacement shakes. The data depicts a growing consumer inclination toward short meals, portraying an increasing demand for healthier, better-for-you meal replacement products in the market.

North America Accounted for the Largest Market Share

The North American region accounted for the largest share, in terms of revenue, in 2020. The United States is one of the leading markets for meal replacement shakes in the North American region. Local players introduced meal replacement shakes which are not only low in calories but also healthy. Thus, these products are emerging as a popular choice among consumers in the region. Moreover, market players are focusing on introducing all-organic meal replacement shakes, in order to cater to the needs of consumers. Moreover, the multi-purpose functionality and on-the-go convenience of meal replacement shakes are attracting consumers across North America.

Competitive Landscape

The global meal replacement shakes market is highly competitive, with the top players accounting for a major market share. The manufacturers are increasing their investments in R&D, marketing, product innovation, and the expansion of their distribution channels, in order to maintain their positions in the market. Moreover, the global players, such as the Herbalife International of America, Inc. and Amway Corp. are focusing on leveraging the opportunities offered by the emerging segments, like sugar-free, vegan, gluten-free, soy-free, and non-GMO products.​

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support