Meal Replacement Market Size Revenue to Reach USD 18.91 Billion by 2030: Polaris Market Research
The global meal replacement market size is expected to reach USD 18.91 Billion by 2030 according to a new study by Polaris Market Research. The report “Meal Replacement Market Share, Size, Trends, Industry Analysis Report, By Product (Powder, Ready-to-Drink, Protein Bar); By Distribution Channel (Online, Offline); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing prevalence of health-related issues such as obesity, high blood pressure, cardiovascular diseases, high cholesterol levels, diabetes is expected to accelerate the growth of the meal replacement industry. This product contains an adequate amount of protein, vitamins, and minerals and provides a balanced, low-calorie, low-fat diet when combined with other foods or snacks. Furthermore, the major factors contributing to the demand for the industry include unhealthy dietary changes, rising sedentary lifestyle, increasing availability of high caloric density convenience foods. The growing adoption of a healthy lifestyle and healthy diet plan is projected to have a positive impact on global demand.
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On the basis of product type, meal replacement powder is expected to account for the largest share over the forecast period. The large market share is attributed to the easy availability and accessibility of these powders in a variety of flavors that fulfill the high nutritional need of the body.
The online sector is expected to hold a significant market share. The increasing proliferation of e-commerce has led to the increased sale of MR food products, especially during the pandemic. Now, consumers prefer online shopping for buying MR products which also offer them several lucrative deals in the form of coupons, discounts, shopping vouchers, cashback, etc.
Asia Pacific is expected to dominate the meal replacement industry in the global industry over the forecast period. The growing population, the rising rate of diseases such as obesity, high blood pressure, diabetes, etc., increasing health consciousness, the trend of weight management are the factors contributing to the growth of the meal replacement industry. The companies present across the region are introducing the healthier option of meal replacement products that contain low calories and high nutritional content.
Major participants such as Unilever, General Mills, Abbott Laboratories, Atkins, Blue Diamond Growers, Glanbia Plc, Wild Oats Markets, Huel, Kellogg Co., Amway, Nestle, Nu Skin Enterprises, Inc., Slimfast, Soylent, Usana Health Sciences Inc., and Herbalife Nutrition are some of the key players operating in the global market.
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Polaris Market Research has segmented the meal replacement market report on the basis of product, distribution channel, and region:
Meal Replacement, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Powder
- Ready-to-Drink
- Protein Bar
Meal Replacement, Distribution Channel Outlook (Revenue – USD Billion, 2018 – 2030)
- Online
- Offline
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