The
global Meal Replacement Products Market size is expected
to reach USD 25.02 billion by 2025, according to a new report by Grand View
Research, Inc. It is projected to register a CAGR of 6.5% during the forecast
period. Rising demand for healthy and nutritious food is anticipated to fuel
the growth. High prevalence of obesity, diabetes, and cardiovascular diseases
among others is expected to drive consumer awareness regarding weight loss and
weight management diets, which in turn, will prompt the use of meal replacement
products.
Further key findings from the report suggest:
Meal
replacement powder accounted for largest market share owing to rapid adoption
of by health conscious consumers in developed countries from North America and
Europe. High consumer awareness regarding the advantages of meal replacement
products is expected to bode well for the overall product demand. Ease of
handling and consumption is expected drive the demand for meal replacement
powder in the forthcoming years. The manufactures are investing in production
of ready-to-drink meal replacement products owing to the rising popularity of
energy drinks.
Offline
distribution channel held the largest market share in 2018. Significant
presence of some of the leading product manufacturers in countries such as U.S.
and Germany is projected to fuel the demand for meal replacement products.
Factors such as access to internet and promotional activities by leading
manufacturers are expected to further drive the growth.
North
America held the largest market share in 2018 due to high prevalence of obesity
and associated disorders in U.S. Increasing hectic lifestyle is anticipated
drive the demand for time-saving alternatives for regular meals, which in turn
is projected to fuel the regional market. Strict regulations related to food
nutrition are projected to drive the growth of the market in North America as
well as Europe. Asia Pacific, on the other hand, is expected to witness the
fastest growth over the forecast period due to increasing awareness regarding
meal replacement products among millennials in countries such as China and
India.
Key
market players engage in business partnerships, mergers and acquisitions, and
product innovation to capture greater market share. In April 2019, Soylent, one
of the major manufacturers of meal replacement products signed an agreement
with Walmart. Under this agreement, Soylent will roll out five of its
ready-to-drink meal replacement drinks in 4,378 Walmart stores in U.S.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/meal-replacement-products-market
https://www.grandviewresearch.com/industry-analysis/meal-replacement-products-market
Further key findings from the report suggest:
- Protein bars segment is
projected to ascend with a CAGR of 6.9% from 2019 to 2025
- Ready-to-drink segment is
expected to register the fastest CAGR over the forecast period, due to
rapid growth of the beverage industry
- Offline distribution
channel held the largest market share of over 90% in 2018
- Major players operating in
the meal replacement products market are Kellogg, Abbott Nutrition,
Herbalife, and Unilever
About Us:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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