Meal Replacement Shakes Market Report 2025

This Meal Replacement Shakes market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The meal replacement shakes market size has grown strongly in recent years. It will grow from $5.64 billion in 2024 to $6.16 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increasing pace of life, growth of fitness, growing preference for preventive health management, rise busy lifestyles and hectic work schedules, and rising demand for nutritional products.

The meal replacement shakes market size is expected to see strong growth in the next few years. It will grow to $8.62 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to growing consumer awareness, rising concerns about sustainability, rise in working women populace, rising demand for convenient and small-portion diet food, and increases plant-based ingredients. Major trends in the forecast period include advances in biotechnology and data analytics, shakes made with plant-based and sustainably, product innovation, introducing shakes that are vegan and gluten-free, and rising technology and digital platforms.

The growing demand for plant-based foods is anticipated to drive the expansion of the meal replacement shakes market in the coming years. Plant-based foods, derived from sources like fruits, vegetables, grains, nuts, seeds, legumes, and their products, are gaining popularity due to health benefits, environmental sustainability, biodiversity preservation, and ethical considerations regarding animal welfare. Meal replacement shakes support plant-based eating by providing a convenient, nutritious, and satisfying alternative to meat, aligning with individual health and environmental goals. For example, a report from the Plant Based Foods Association, a U.S.-based nonprofit trade association, indicated that U.S. sales of plant-based foods increased by 6.6% in 2022, compared to 5.9% in 2021, despite a 10% rise in average retail prices. This trend in plant-based diets is contributing to the growth of the meal replacement shakes market.

Major companies in the meal replacement shake market are focusing on innovation, particularly in plant-based offerings, to meet the growing demand for sustainable and health-conscious food choices. Plant-based shakes are beverages primarily composed of plant-derived ingredients, formulated to provide a nutrient-dense, low-sugar, high-fiber, and dairy-free option using wholesome plant sources. For example, HLTH Code, a US-based company specializing in meal replacements, recently introduced a plant-based meal replacement shake tailored for vegans and vegetarians. This product addresses the increasing need for dairy-free and vegan-friendly nutritional options in the health and wellness sector, designed to support metabolic health, weight management, and muscle development with 400 calories per serving.

In April 2023, Nestlé S.A., a Swiss food processing giant, acquired Yfood for $469 million. This acquisition allows Nestlé to expand its product portfolio into healthier alternatives, capitalize on the growing meal replacement market, and invest in a promising European startup while preserving Yfood's entrepreneurial spirit and independent operations. Yfood, based in Germany, specializes in manufacturing meal replacement products.

Major companies operating in the meal replacement shakes market are Abbott Laboratories, The Kellogg Company, Glanbia PLC, Herbalife Nutrition, Perrigo Company Plc, The Simply Good Foods Company, Organic Inc., Bob's Red Mill Natural Foods Inc., Ripple Foods, Idealshape LLC, Soylent Inc., Medisys Biotech Pvt Ltd., Fast&Up, Nouveau Medicament (P) Ltd., Saturo Food GmbH, HLTH Code, Elev8 Brands Inc., Marico Pvt Ltd., The Divine Foods, Damhert Nutrition.

North America was the largest region in the meal replacement shakes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the meal replacement shakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the meal replacement shakes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Meal replacement shakes are formulated beverages designed to replace a traditional meal, offering a balanced nutritional profile rich in essential nutrients such as proteins, vitamins, minerals, and sometimes fiber. They are commonly used for weight management, convenience, or nutritional supplementation, available in a variety of flavors and formats such as ready-to-drink bottles and powdered mixes.

The primary types of meal replacement shakes include ready-to-drink products and powdered products. Powdered products consist of finely divided particles, typically ranging in size from about 10 nanometers to 1000 micrometers. These shakes come in flavors such as vanilla, chocolate, mocha, berries, and others, catering to both organic and conventional preferences. They are distributed through various channels including direct sales, indirect sales, modern trade outlets, convenience stores, independent grocery retailers, specialty food stores, online retail platforms, and other retail formats.

The meal replacement shakes market research report is one of a series of new reports that provides meal replacement shakes market statistics, including meal replacement shakes industry global market size, regional shares, competitors with a meal replacement shakes market share, detailed meal replacement shakes market segments, market trends, and opportunities, and any further data you may need to thrive in the meal replacement shakes industry. This meal replacement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The meal replacement shakes market consists of sales of low-carb shakes, high-fiber shakes, and balanced nutrient shakes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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