Meal Replacement Products Market 2023-2028 | Size US$ 20.0 Billion, Growth Rate (CAGR) 7.1%
According to IMARC Group’s latest report, titled “Meal Replacement Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global meal replacement products market size reached US$ 13.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
Meal replacement products are food products designed to replace one or more regular meals. They are typically high in protein, vitamins, and minerals and are formulated to provide a complete nutritional profile. Meal replacement products come in various forms, including bars, shakes, and powders, and are commonly used by people who want to lose weight, gain muscle, or have a busy lifestyle that does not allow for regular meals. These products are convenient and easy to use, as they require minimal preparation and can be consumed on the go. They should not be used as a long-term replacement for a healthy and balanced diet and should be used under the guidance of a healthcare professional.
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Meal Replacement Products Market Trends:
The increasing prevalence of busy and hectic lifestyles represents a key factor driving the market growth across the globe. This is further supporting the rising demand for convenient and easy-to-use meal replacement products. In line with this, the rising awareness of the importance of healthy eating habits and weight management is driving the demand for meal replacement products that offer a complete nutritional profile and help in achieving weight loss goals. Apart from this, the steady expansion of the e-commerce sector is facilitating the easy availability and accessibility of meal replacement products, which is further driving the market growth. In addition to this, the innovation and development of new and improved meal replacement products that cater to specific dietary needs and preferences are further creating a positive outlook for the market.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- Abbott Laboratories
- Blue Diamond Global Ingredients Division
- Bob's Red Mill Natural Foods
- General Mills
- Glanbia Plc
- Healthy 'N Fit International Inc.
- Herbalife International of America Inc. Company
- Nestle SA
- Nutrisystem Inc.
- Unilever Plc
- Ksf Acquisition Corporation
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Key Market Segmentation:
The report has categorized the market based on product type, distribution channel and application.
Breakup by Product Type:
- Ready-to-Drink Products
- Edible Bars
- Powdered Products
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Application:
- Weight Gain
- Weight Loss
- Physical Fitness
- Wound Healing
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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