Meal Replacement Market Research Report 2030 : Rising Health Consciousness and Changing Consumer Lifestyles

PRESS RELEASE

Published April 3, 2023

The global meal replacement market size is expected to reach USD 18.61 Billion in 2030 and register a revenue CAGR of 5.2% over the forecast period, according to latest analysis by Reports and Data. Changing consumer lifestyles and rising health consciousness among the consumers are some key factors expected to drive market revenue growth during the forecast period.

Meal replacement market is expanding in developing countries owing to growing obesity rates, aging population, and growing awareness regarding nutritious foods. There is a rise in lifestyle diseases such as diabetes, osteoporosis, and cardiovascular diseases in countries such as Japan, South Korea, and India, which is expected to drive market revenue growth. In addition, obesity is one of the growing health concerns in many countries. The growing occurrence of chronic diseases is expected to be an opportunity for the meal replacement market and drive the market growth during the forecast period.

Rising health consciousness among the consumers and expansion of e-commerce industry are the factors expected to drive growth of meal replacement market. After the COVID-19 pandemic, customers are more concerned about their health and have also recognized that sufficient nutrition and hydration are crucial for the human body to stay healthy. Eating healthy food is also viewed as a preventive step to avoid future health care expenses. People who consume a well-balanced diet tend to be healthier with better immune systems and are at decreased risk of chronic illnesses and infectious diseases. There is a steady rise and acceptance of nutritious diet to substitute normal meals which are driving growth of meal replacement market.

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Top 10 Profiled in the Global Meal Replacement Market Report: Abbott Laboratories, Kellogg Company, Herbalife Nutrition Ltd., Unilever Plc, Amway Corp., Nestlé S.A, Huel Inc., Glanbia PLC, General Mills, Inc., Bob’s Red Mill Natural Foods, Inc., Nu Skin Enterprises, and Usana Health Sciences, Inc.

Some Key Highlights in the Report

Ready-to-drink segment is expected to register a steady CAGR over the forecast period owing to the rising popularity of bottled energy drinks. In addition, celebrity endorsements, packaging design, and digital marketing are driving consumer acceptance for ready-to-drink meals, which is expected to drive revenue growth of the segment during the forecast period.
Physical fitness segment is expected to register a steady revenue growth rate during the forecast period. Revenue growth of the segment is expected to be driven by rising demand for meal replacement foods among fitness enthusiasts. Many gyms promote and sell meal replacement items to develop healthy dieting habits among their clients, which is expected to drive revenue growth of this segment.
Europe is expected to register a steady revenue growth rate over the forecast period owing to increasing awareness about the benefits of meal replacement foods. Moreover, growing acceptance of natural ingredient-based meal alternatives and increasing concern about gluten-free diets are the factors expected to drive market revenue growth in the region.

Product Type Outlook (Revenue, USD Billion; 2019-2030)

Powder
Ready-to-Drink
Protein Bars
Others

Application Outlook (Revenue, USD Billion; 2019-2030)

Weight Gain
Weight Loss
Physical Fitness
Wound Healing
Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

Hypermarkets and Supermarkets
Convenience Stores
Specialty Stores
Online Stores
Others

Key Regional Markets Covered in the Report:

North America
- U.S.
- Canada
- Mexico
Europe
- Russia
- U.K.
- Germany
- France
- BENELUX
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- U.A.E.
- Israel
- Rest of Middle East & Africa

Key Takeaways of the Global Meal Replacement Market Report:

A comprehensive overview of the global Meal Replacement industry.
Accurate market projections in terms of market size, share, and volume.
Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
Deep-dive analysis of the upcoming market trends.
Qualitative and quantitative analyses of the global Meal Replacement market.
Elaborate study of the leading regional markets in the global Meal Replacement market.
Complete overview of the market’s competitive landscape.
Brief look at the company profiles and portfolios.

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