Meal Replacement Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71108
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The meal replacement market has the potential to grow by USD 4.49 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.40%.

This meal replacement market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (powdered products, edible bars, ready-to-drink, and others) and geography (North America, Europe, APAC, South America, and MEA). The meal replacement market report also offers information on several market vendors, including Abbott Laboratories, Blue Diamond Growers, Dole Packaged Foods LLC, Glanbia Plc, Healthy N Fit International Inc., Herbalife Nutrition Ltd., Kellogg Co., Nestle SA, The Kraft Heinz Co., and Unilever Group among others.

What will the Meal Replacement Market Size be in 2021?

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Meal Replacement Market: Key Drivers and Trends

The health benefits associated with meal replacement products are notably driving the meal replacement market growth, although factors such as lack of awareness about meal replacement products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the meal replacement industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The health benefits associated with meal replacement products will fuel the growth of the meal replacement market size.
  • Health-conscious consumers are demanding food and beverages that contain the essential nutrients. Thus, the demand for meal replacement products has increased. 
  • The rise in the number of fitness centers and clubs positively impacts the demand for meal replacement products with high protein content, which helps repair muscles.
  • Meal replacement products help in reducing weight. It is a great source of plant-based proteins, vitamins, minerals, and dietary fiber.
  • The growing demand for ready-to-eat products will drive the meal replacement market growth during the forecast period.
  • Ready-to-eat products are becoming popular among consumers as they save time and effort. This has led to an increase in demand for ready-to-eat products such as meal replacement products.
  • An increase in the number of working women globally has increased the demand for ready meals as they have limited time for cooking.
  • Vendors in the market are using advertising strategies to increase the use of ready meals in households.
  • Consumers have started having meal replacement products like snacks, which is a common trend observed in adults. This has increased the demand for meal replacement products.

This meal replacement market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Meal Replacement Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Blue Diamond Growers
  • Dole Packaged Foods LLC
  • Glanbia Plc
  • Healthy N Fit International Inc.
  • Herbalife Nutrition Ltd.
  • Kellogg Co.
  • Nestle SA
  • The Kraft Heinz Co.
  • Unilever Group

 

This statistical study of the meal replacement market encompasses successful business strategies deployed by the key vendors. The meal replacement products market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The meal replacement market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Meal Replacement Market?

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36% of the market’s growth will originate from North America during the forecast period. The US is a key market for meal replacement products in North America. Market growth in this region will be faster than the growth of the market in Europe and MEA.

The stabilizing of the food supply chain and the increase in consumer spending will facilitate the meal replacement products market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Meal Replacement Market?

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The meal replacement market share growth by the powdered products segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the meal replacement products market size and actionable market insights on post COVID-19 impact on each segment.

 

Meal Replacement Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.40%

Market growth 2021-2025

$ 4.49 billion

Market structure

Fragmented

YoY growth (%)

6.25

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 36%

Key consumer countries

US, China, Japan, Germany, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Abbott Laboratories, Blue Diamond Growers, Dole Packaged Foods LLC, Glanbia Plc, Healthy N Fit International Inc., Herbalife Nutrition Ltd., Kellogg Co., Nestle SA, The Kraft Heinz Co., and Unilever Group

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Meal Replacement Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive meal replacement market growth during the next five years
  • Precise estimation of the meal replacement market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the meal replacement products industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of meal replacement products market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Powdered products - Market size and forecast 2020-2025
    • Edible bars - Market size and forecast 2020-2025
    • Ready-to-drink - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Abbott Laboratories
      • Blue Diamond Growers
      • Dole Packaged Foods LLC
      • Glanbia Plc
      • Herbalife Nutrition Ltd.
      • Kellogg Co.
      • Nestle SA
      • The Kraft Heinz Co.
      • Unilever Group

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The meal replacement market growth will increase by $4488.36 million during 2020-2025.
      The meal replacement market is expected to grow at a CAGR of 6.4% during 2020-2025.
      Technavio has segmented the meal replacement market by product (Powdered products, Edible bars, Ready-to-drink, and Others) and geographic (North America, Europe, APAC, South America, and MEA).
      Abbott Laboratories, Blue Diamond Growers, Dole Packaged Foods LLC, Glanbia Plc, Healthy N Fit International Inc., Herbalife Nutrition Ltd., Kellogg Co., Nestle SA, The Kraft Heinz Co., Unilever Group are a few of the key vendors in the meal replacement market.
      North America will register the highest growth rate of 36.25% among the other regions. Therefore, the meal replacement market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the meal replacement market growth are:
      • Health benefits associated with meal replacement products
      The meal replacement market vendors should focus on grabbing business opportunities from the powdered products segment as it accounted for the largest market share in the base year.
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