Abstract
Summary
REPORT HIGHLIGHT
The meal replacement market was valued at USD 15.34 billion by 2017, growing with 6.5% CAGR during the forecast period, 2018-2028.
Meal replacement products industry is quickly gaining ground across the globe owing to the changing in consumer lifestyles and hectic schedules. These products are catering to a specific set of consumer requirements such as people looking for gaining muscle mass, losing weight etc. Such foods are primarily designed to mimic the nutritional profile of real food as much as possible with the right mixture of healthy calories, fats, carbohydrates and protein. The market is positively influenced by rising incidence of lifestyle disorders such as diabetes, obesity, and others; wherein these products act as the best alternative option for lack of regular meals.
The industry is shifting towards mature and diversify business models, and new entries into the market space is opening up opportunities for paleo, keto and vegan meal replacement products. Also, owing to the emerging concept for fitness support or digestive health, plant-based and non-dairy meal replacement products are in demand. As per the statistics by U.S. based Plant Based Foods Association, the demand for plant-based food products grew by over 20% during the year 2017-2018.
Products Takeaway
In terms of products, the market is divided into edible bars, powered and ready-to-drink products. Powered product accounted for the significant revenue share. Garden of Life Raw Organic Meal, Vega One All-In-One, Idealshake, Nature’s Bounty Complete Protein and Vitamin and Labrada Lean Body are some of the powered products commercially available.
Distribution Channel Takeaway
In terms of distribution channel, the industry is categorized into hypermarkets, grocery retailers, supermarkets, online retailers, and food services. Of these, the same of meal replacement products from hypermarket and supermarket accounted for highest revenue share.
Regional Takeaway
North America accounted for the highest revenue share. Skyrocketing obesity population coupled with new product developments support the regional growth. For instance, local companies are introducing meal replacement foods like protein shakes with low in calories and contains healthy nutrition, thereby making it a popular choice among end-users in the region. On contrary, Asia Pacific regions is projected to grow with fastest growth rate owing to the large population base, growing consumer awareness coupled with increasing investment by new players.
Key Vendors Takeaway
It is noted that large number of key players are gaining investor to expand product offering in multiple meal replacement niches. For instance, established in 2013, Soylent is a fastest growing meal replacement product manufacturer. The company introduced Soylent Squared series product, engineered with 5 grams of plant protein and 36 essential nutrients. Along with, company’s Soylent Drinks, Soylent Bridge and Soylent Powder products are gaining popularity among the customers. The company’s capital funding partner includes Tao Capital Partners, Lerer Hippeau Ventures and Andreessen Horowitz.
Some of the vendors in the meal replacement market are as follows;
Healthy ‘N Fit International
Kellogg
Amazing Grass
Herbalife
Kraft Heinz
MET-Rx
Onnit Labs
Orgain
Ultimate Superfoods
GlaxoSmithKline
Nestlé
Nouveau Dietetique
Nutiva
Nutrisystem
Abbott
Glanbia
SlimFast
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2017 – 2021
Base Year – 2021
Estimated Year – 2022
Projected Year – 2028
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
Edible Bars
Powered Products
Ready-to-Drink Products
MARKET, BY DISTRIBUTION CHANNEL
Hypermarkets
Grocery Retailers
Supermarkets
Online Retailers
Food Services
MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
The Middle East and Africa
Latin America
Table of Contents
1 MEAL REPLACEMENT MARKET OVERVIEW
1.1 Study Scope
1.2 Assumption and Methodology
2 EXECUTIVE SUMMARY
2.1 Market Snippet
2.1.1 Market Snippet by Products
2.1.2 Market Snippet by Distribution Channel
2.1.3 Market Snippet by Region
2.2 Competitive Insights
3 MEAL REPLACEMENT KEY MARKET TRENDS
3.1 Market Drivers
3.1.1 Impact Analysis of Market Drivers
3.2 Market Restraints
3.2.1 Impact Analysis of Market Restraints
3.3 Market Opportunities
3.4 Market Future Trends
4 MEAL REPLACEMENT INDUSTRY STUDY
4.1 Porter’s Five Forces Analysis
4.2 Marketing Strategy Analysis
4.3 Growth Prospect Mapping
4.4 Regulatory Framework Analysis
5 MEAL REPLACEMENT MARKET LANDSCAPE
5.1 Market Share Analysis
5.2 Key Innovators
5.3 Breakdown Data, by Key manufacturer
5.3.1 Established Player Analysis
5.3.2 Emerging Player Analysis
6 MEAL REPLACEMENT MARKET - BY PRODUCTS
6.1 Overview
6.1.1 Segment Share Analysis, By Products, 2017 & 2028 (%)
6.2 Edible Bars
6.2.1 Overview
6.2.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
6.3 Powered Products
6.3.1 Overview
6.3.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
6.4 Ready-to-Drink Products
6.4.1 Overview
6.4.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
7 MEAL REPLACEMENT MARKET - BY DISTRIBUTION CHANNEL
7.1 Overview
7.1.1 Segment Share Analysis, By Distribution Channel, 2017 & 2028 (%)
7.2 Hypermarkets
7.2.1 Overview
7.2.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
7.3 Grocery Retailers
7.3.1 Overview
7.3.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
7.4 Supermarkets
7.4.1 Overview
7.4.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
7.5 Online Retailers
7.5.1 Overview
7.5.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
7.6 Food Services
7.6.1 Overview
7.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8 MEAL REPLACEMENT MARKET- BY GEOGRAPHY
8.1 Introduction
8.1.1 Segment Share Analysis, By Region, 2017 & 2028 (%)
8.2 North America
8.2.1 Overview
8.2.2 Key Manufacturers in North America
8.2.3 North America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
8.2.4 North America Market Size and Forecast, By Products, 2017 - 2028 (US$ Million)
8.2.5 North America Market Size and Forecast, By Distribution Channel, 2017 - 2028 (US$ Million)
8.2.6 U.S
- 8.2.6.1 Overview
- 8.2.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.2.7 Canada
- 8.2.7.1 Overview
- 8.2.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.3 Europe
8.3.1 Overview
8.3.2 Key Manufacturers in Europe
8.3.3 Europe Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
8.3.4 Europe Market Size and Forecast, By Products, 2017 - 2028 (US$ Million)
8.3.5 Europe Market Size and Forecast, By Distribution Channel, 2017 - 2028 (US$ Million)
8.3.6 France
- 8.3.6.1 Overview
- 8.3.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.3.7 Germany
- 8.3.7.1 Overview
- 8.3.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.3.8 Rest of Europe
- 8.3.8.1 Overview
- 8.3.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.4 Asia Pacific (APAC)
8.4.1 Overview
8.4.2 Key Manufacturers in Asia Pacific
8.4.3 Asia Pacific Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
8.4.4 Asia Pacific Market Size and Forecast, By Products, 2017 - 2028 (US$ Million)
8.4.5 Asia Pacific Market Size and Forecast, By Distribution Channel, 2017 - 2028 (US$ Million)
8.4.6 China
- 8.4.6.1 Overview
- 8.4.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.4.7 India
- 8.4.7.1 Overview
- 8.4.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.4.8 Rest of APAC
- 8.4.8.1 Overview
- 8.4.8.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.5 Rest of the World
8.5.1 Overview
8.5.2 Key Manufacturers in Rest of the World
8.5.3 Rest of the World Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
8.5.4 Rest of the World Market Size and Forecast, By Products, 2017 - 2028 (US$ Million)
8.5.5 Rest of the World Market Size and Forecast, By Distribution Channel, 2017 - 2028 (US$ Million)
8.5.6 Latin America
- 8.5.6.1 Overview
- 8.5.6.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
8.5.7 Middle East and Africa
- 8.5.7.1 Overview
- 8.5.7.2 Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9 KEY VENDOR ANALYSIS
9.1 Healthy ‘N Fit International
9.1.1 Company Snapshot
9.1.2 Financial Performance
9.1.3 Product Benchmarking
9.1.4 Strategic Initiatives
9.2 Kellogg
9.3 Amazing Grass
9.4 Herbalife
9.5 Kraft Heinz
9.6 MET-Rx
9.7 Onnit Labs
9.8 Orgain
9.9 Ultimate Superfoods
9.10 GlaxoSmithKline
9.11 Nestlé
9.12 Nouveau Dietetique
9.13 Nutiva
9.14 Nutrisystem
9.15 Abbott
9.16 Glanbia
9.17 SlimFast
10 360 DEGREE ANALYSTVIEW
11 APPENDIX
11.1 Research Methodology
11.2 References
11.3 Abbreviations
11.4 Disclaimer
11.5 Contact Us