Dublin, Dec. 24, 2021 (GLOBE NEWSWIRE) -- The "Meal Replacement Market by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), and Region (North America, Europe, Asia Pacific, South America, and RoW) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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).
Key Topics Covered:
Market Dynamics
Drivers
- Increasing Prevalence of Obesity and Diabetes Coupled with the Increasing Population of Health-Conscious Consumers
- Changing Consumer Lifestyles and Availability of Convenient & Nutritious Meals in the Form of Meal Replacement
Restraints
- High Costs of Meal Replacement Products
- Presence of Unwanted Ingredients Such as Sugar and Artificial Flavors for Taste Enhancement
Opportunities
- Emergence of Plant-Based and Vegan Meal Replacement Products
- Growth of the Meal Replacement Market from Emerging Economies
Challenges
- Misinterpretation of Protein Shakes for Meal Replacement Shakes
- Regulatory Implications
Company Profiles:
- Abbott Laboratories
- Amway
- Atkins
- Glanbia plc
- Herbalife Nutrition
- Huel
- Kellogg Co.
- Nestle
- NU Skin Enterprises, Inc.
- Usana Health Sciences Inc.
For more information about this report visit https://www.researchandmarkets.com/r/524zl9
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