The global meal replacement market size is estimated to be valued at USD 11.9 billion in 2021 and is projected to reach USD 15.5 billion by 2026, recording a CAGR of 5.4% during the forecast period in terms of value. The market is primarily driven by factors such as the increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and changing consumer lifestyle and availability of convenient nutritious meals in the form of meal replacement. However, the high cost associated with meal replacement products and the presence of unwanted ingredients such as sugar, and artificial flavors for taste enhancement is expected to restrain the market growth.
By product type, the ready-to-drink segment is projected to account for the second-largest market share in the forecast period.
Based on product type, the ready-to-drink segment is projected to account for the second-largest market share during the forecast period. Ready-to-drink meal replacement products are packaged beverages that are in the ready-to-consume form. These products are a more convenient and easy way of increasing protein intake. These are available in different flavors and sizes. These factors are expected to drive the demand for ready-to-drink products.
By distribution channel, the offline segment is estimated to account for the largest share.
The offline segment of meal replacement products is dominating the market. Owing to the presence of multiple formats of offline stores such as supermarkets & hypermarkets, convenience stores, specialty stores, among others are expected to drive the demand for the offline segment in the global meal replacement market.
The European region is projected to grow at a significant rate during the forecast period.
The European region is projected to grow at a significant rate for the period considered for this study. The key factors driving growth in the European region include health benefits, the burden of disease associated with poor nutrition, and the demand for a nutritious diet to promote a healthy lifestyle among people, which are expected to drive the demand for meal replacement in the region.
The meal replacement market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (Middle East and Africa).
Leading players profiled in this report include the following:
- Abbott Laboratories (US)
- Glanbia (Ireland)
- Amway (US)
- Herbalife Nutrition (US)
- Nestle (Switzerland)
- Atkins (US)
- Huel (UK)
- Kellogg Co. (US)
- Skin Enterprises Inc. (US)
- USANA Health Sciences Inc. (US)
Research Coverage
This report segments the meal replacement market on the basis of product type, distribution channel, and region. In terms of insights, this research report focuses on various levels of analyses - competitive landscape, end-use analysis, and company profiles - which together comprise and discuss the basic views on the emerging & high-growth segments of the meal replacement market, high-growth regions, countries, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
- To get a comprehensive overview of the meal replacement market
- To gain wide-ranging information about the top players in this industry, their product portfolio details, and their position in the market
- To gain insights about the major countries/regions, in which the meal replacement market is flourishing
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
Figure 1 Meal Replacement Market Segmentation
1.3.1 Inclusions and Exclusions
1.4 Periodization Considered
1.5 Assumptions for the Study
1.6 Limitations and Risk Assessment of the Study
2 Executive Summary
Table 1 Meal Replacement Market Snapshot, 2021 Vs. 2026
Figure 2 Meal Replacement Market Size, by Product Type, 2021 Vs. 2026 (USD Million)
Figure 3 Meal Replacement Market Size, by Distribution Channel, 2021 Vs. 2026 (USD Million)
Figure 4 Meal Replacement Market Share and Growth Rate (Value), by Region, 2021
3 Market Overview
3.1 Introduction
3.2 Market Dynamics
Figure 5 Market Dynamics: Meal Replacement Market
3.2.1 Drivers
3.2.1.1 Increasing Prevalence of Obesity and Diabetes Coupled with the Increasing Population of Health-Conscious Consumers
3.2.1.2 Changing Consumer Lifestyles and Availability of Convenient & Nutritious Meals in the Form of Meal Replacement
3.2.2 Restraints
3.2.2.1 High Costs of Meal Replacement Products
3.2.2.2 Presence of Unwanted Ingredients Such as Sugar and Artificial Flavors for Taste Enhancement
3.2.3 Opportunities
3.2.3.1 Emergence of Plant-Based and Vegan Meal Replacement Products
3.2.3.2 Growth of the Meal Replacement Market from Emerging Economies
3.2.4 Challenges
3.2.4.1 Misinterpretation of Protein Shakes for Meal Replacement Shakes
3.2.4.2 Regulatory Implications
Table 2 Regulatory Requirements for Meal Replacement
4 Meal Replacement Market, by Product Type
Figure 6 Meal Replacement Market Size, by Product Type, 2021 Vs. 2026 (USD Million)
Table 3 Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 4 Meal Replacement Market Size, by Product Type, 2019-2026 (Kt)
4.1 Powder
Table 5 Powder: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
4.2 Ready-To-Drink
Table 6 Ready-To-Drink: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
4.3 Bars
Table 7 Bars: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
4.4 Other Product Types
Table 8 Other Product Types: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5 Meal Replacement Market, by Distribution Channel
Figure 7 Meal Replacement Market Size, by Distribution Channel, 2021 Vs. 2026 (USD Million)
Table 9 Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 10 Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
5.1 Offline
Table 11 Offline: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5.1.1 Hypermarkets & Supermarkets
Table 12 Hypermarkets & Supermarkets: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5.1.2 Convenience Stores
Table 13 Convenience Stores: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5.1.3 Specialty Stores
Table 14 Specialty Stores: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5.1.4 Other Offline Stores
Table 15 Other Offline Stores: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
5.2 Online
Table 16 Online: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
6 Meal Replacement Market, by Region
6.1 Introduction
Figure 8 Regional Snapshot: New Hotspots to Emerge in Asia-Pacific, 2021-2026
Table 17 Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
Table 18 Meal Replacement Market Size, by Region, 2019-2026 (Kt)
6.2 North America
Table 19 Facts About Nutrition-Related Health Conditions in the US
Table 20 North America: Meal Replacement Market Size, by Country, 2019-2026 (USD Million)
Table 21 North America: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 22 North America: Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 23 North America: Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
6.2.1 US
Table 24 US: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.2.2 Canada
Table 25 Canada: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.2.3 Mexico
Table 26 Mexico: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3 Europe
Table 27 Europe: Meal Replacement Market Size, by Country, 2019-2026 (USD Million)
Table 28 Europe: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 29 Europe: Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 30 Europe: Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
6.3.1 UK
Table 31 UK: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3.2 Germany
Table 32 Germany: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3.3 Italy
Table 33 Italy: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3.4 Spain
Table 34 Spain: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3.5 France
Table 35 France: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.3.6 Rest of Europe
Table 36 Rest of Europe: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.4 Asia-Pacific
Table 37 Prevalence and Total No. of Adult Diabetic Patients in Asia-Pacific, 2020
Table 38 Asia-Pacific: Meal Replacement Market Size, by Country, 2019-2026 (USD Million)
Table 39 Asia-Pacific: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 40 Asia-Pacific: Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 41 Asia-Pacific: Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
6.4.1 China
Table 42 China: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.4.2 India
Table 43 India: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.4.3 Japan
Table 44 Japan: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.4.4 Rest of Asia-Pacific
Table 45 Rest of Asia-Pacific: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.5 South America
Table 46 South America: Meal Replacement Market Size, by Country, 2019-2026 (USD Million)
Table 47 South America: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 48 South America: Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 49 South America: Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
6.5.1 Brazil
Table 50 Brazil: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.5.2 Argentina
Table 51 Argentina: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.5.3 Rest of South America
Table 52 Rest of South America: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.6 Rest of the World
Table 53 Prevalence and Total No. of Adult Diabetic Patients in the Middle East & Africa, 2020
Table 54 Rest of the World: Meal Replacement Market Size, by Region, 2019-2026 (USD Million)
Table 55 Rest of the World: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
Table 56 Rest of the World: Meal Replacement Market Size, by Distribution Channel, 2019-2026 (USD Million)
Table 57 Rest of the World: Meal Replacement Market Size, by Offline Distribution Channel, 2019-2026 (USD Million)
6.6.1 Middle East
Table 58 Middle East: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
6.6.2 Africa
Table 59 Africa: Meal Replacement Market Size, by Product Type, 2019-2026 (USD Million)
7 Competitive Landscape
7.1 Overview
7.2 Company Evaluation Quadrant (Key Players)
7.2.1 Stars
7.2.2 Pervasive Players
7.2.3 Emerging Leaders
7.2.4 Participants
Figure 9 Meal Replacement Market, Company Evaluation Quadrant, 2020
8 Company Profiles
8.1 Abbott Laboratories
8.2 Amway
8.3 Glanbia plc
8.4 Herbalife Nutrition
8.5 Nestle
8.6 Usana Health Sciences Inc.
8.7 NU Skin Enterprises, Inc.
8.8 Atkins
8.9 Kellogg Co.
8.10 Huel
Companies Mentioned
- Abbott Laboratories
- Amway
- Atkins
- Glanbia plc
- Herbalife Nutrition
- Huel
- Kellogg Co.
- Nestle
- NU Skin Enterprises, Inc.
- Usana Health Sciences Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 64 |
| Published | December 2021 |
| Forecast Period | 2021 - 2026 |
| Estimated Market Value ( USD | $ 11.9 Billion |
| Forecasted Market Value ( USD | $ 15.5 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
