Global Meal Replacement Market Analysis & Trends - Industry Forecast to 2030

Global Meal Replacement Market Analysis & Trends - Industry Forecast to 2030

Meal Replacement: Market Size

From $15.3 billion in 2024, the global Meal Replacement market is projected to reach $25.0 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 8.5% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include changing consumer lifestyles, the emergence of plant-based and vegan meal replacement products, and the availability of convenient & nutritious meals in the form of meal replacement.

Global Meal Replacement Market: Market Dynamics
The factors such as the increasing prevalence of obesity and diabetes coupled with the increasing population of health-conscious consumers and rapid urbanization and change in consumption habits are driving the market growth.

On the other hand, the high costs of meal replacement products are likely to obstruct the profit boundaries. In addition, the growth of the meal replacement market from emerging economies will further boost the Meal Replacement market.

Impact of COVID-19 on Meal Replacement
As a result of increasing awareness amongst the consumers related to maintaining a healthier lifestyle, the meal replacement market trend is on a positive side. Obesity is one of the major health issues among the youth and the meal replacement market is providing the solution for this problem. Global lockdown due to the COVID-19 pandemic has raised various health issues also the lifestyle was also changed drastically to overcome this demand for a meal replacement to healthier products is increasing and making this market as of the largest growing market in 2020 and early 2021. Also, there are various online channels that provide easy availability to meal replacement products making this as well one of the key drivers of this market. Companies are also advertising on various online channels regarding the same. This market is expected to grow in future years as well as the awareness among people related to health and obesity is increasing. Earlier this market was growing only in first-class countries but due to easy access and various online channels, this market is growing significantly across the globe.

By Product

Powder Segment Dominate the Market in 2024
The powder segment made huge revenue in 2024 during the forecast period. The convenience and ease of consumption of meal replacement powders drive market growth. Meal replacement powders are consumed in the form of shakes with the addition of water or low-calorie milk. The rapid adoption of meal replacement powder as a part of weight management will generate a positive market outlook in the coming years.

By Geography

Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period due to the increase in the demand from the health-conscious young population across countries such as China, Japan, and India. The rising consumption of on-the-go food products, changing dietary preferences, and increasing impact of western dietary patterns have led to the increased demand for meal replacement in most developing countries.

List of the Key Players Profiled in the Market Include:
• Abbott Laboratories
• Amway
• Atkins
• Blue Diamond Growers, Inc.
• Bob’s Red Mill Natural Foods, Inc.
• General Mills, Inc.
• Glanbia plc
• Herbalife Nutrition
• Huel
• Kellogg Co.
• Nestle
• NU Skin Enterprises, Inc.
• The Kraft Heinz Company and
• Unilever PLC
• Usana Health Sciences Inc

List of the Regions/Countries Profiled in the Market Include:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others