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Redding, California - October 29, 2024

Meal Replacement Products Market to Reach $32.2 Billion by 2031

Meal Replacement Products Market Size, Share, Forecast, & Trends Analysis by Product Type (Powdered Products, Ready-to-Drink, Bars), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores) and Geography - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Meal Replacement Products Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the meal replacement products market is expected to reach $32.2 billion by 2031, at a CAGR of 8.4% from 2024 to 2031.

The growing demand for convenience and smaller meal options, the rising incidence of lifestyle-related diseases, and increasing urbanization are factors driving the growth of the meal replacement products market. Additionally, the increase in vegan and plant-based meal replacement options and the expansion of e-commerce create significant opportunities for market players. Furthermore, a rising focus on functional nutrition is a prominent trend in the meal replacement products market.

Key Players

The meal replacement products market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the meal replacement products market are Glanbia Plc (Ireland), Abbott Laboratories (U.S.), Herbalife International of America, Inc. (U.S.), Bob’s Red Mill Natural Foods (U.S.), Kellanova (U.S.), Amway Corp. (U.S.), The Simply Good Foods Company (U.S.), Nestlé SA (Switzerland), Unilever plc (U.K.), USANA Health Sciences, Inc. (U.S.), Ripple Foods PBC (U.S.), and Soylent Nutrition, Inc. (U.S.).

The meal replacement products market is segmented based on product type and distribution channel. This study also evaluates industry competitors and analyzes the regional and country-level markets.

Among the product types studied in this report, the powdered products segment is anticipated to dominate the meal replacement products market in 2024. The segment’s dominant position in the meal replacement products market can be attributed to their long shelf life, ease of use, lower cost compared to ready-to-drink (RTD) options, and the growing emphasis on health and wellness, particularly among fitness enthusiasts. Powdered meal replacements are convenient to consume, requiring only a simple mix with water or milk, which makes them ideal for on-the-go consumption.

Among the distribution channels studied in this report, in 2024, the supermarkets and hypermarkets segment is expected to dominate the meal replacement products market. The segment’s dominant position in the meal replacement products market can be attributed to the wide range of product availability, the convenience of physical shopping, and increasing consumer preference for convenient foods.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (France, Spain, Italy, Germany, U.K., Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa (South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa).

Among the regions studied in this report, in 2024, North America is expected to dominate the meal replacement products market. North America’s major market share can be attributed to several factors, including busy work schedules, the presence of established key players, ongoing product innovations, strong retail networks, increasing consumer awareness of health and wellness, a rising incidence of lifestyle diseases, and a growing preference for convenient foods.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6064

Key Questions Answered in the Report:

What is the revenue generated from the sales of meal replacement products?
At what rate is the global demand for meal replacement products projected to grow for the next five to seven years?
What is the historical market size and growth rate for the meal replacement products market?
What are the major factors impacting the growth of this market at the global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which product type and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the meal replacement products market?
Who are the major players in the meal replacement products market? What are their specific product offerings in this market?
What are the recent developments in the meal replacement products market? What are the impacts of these strategic developments on the market?

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Redding, California - October 29, 2024

Meal Replacement Products Market to Reach $32.2 Billion by 2031

Meal Replacement Products Market Size, Share, Forecast, & Trends Analysis by Product Type (Powdered Products, Ready-to-Drink, Bars), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores) and Geography - Global Forecast to 2031

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