NEW YORK, Dec. 15, 2023 /PRNewswire/ — The meal replacement market size is expected to grow by USD 5.79 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.94% during the forecast period. Health benefits associated with meal replacement products are notably driving the meal replacement market. However, factors such as a lack of awareness about meal replacement products may impede market growth. The market is segmented by Product (Powdered products, Edible bars, Ready-to-drink, and Others), Distribution Channel (Offline and Online), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis
The powdered products segment will be significant during the forecast period. Gym-goers, athletes, and people with various health problems lead this segment’s growth. Asian countries like India, Hong Kong, China, and South Korea witness strong growth for the products in this segment. Furthermore, factors like the availability of a wide range of products by different brands will contribute to the powdered products segment spearheading the growth of this segment. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Geographical Market Analysis 

North America will contribute 37% to the growth of the global market during the forecast period. The consumers in this region search for convenient, healthy food products that fulfill their daily nutritional requirements. Other factors that fuel the growth of the regional meal replacement market include the change in lifestyle, rapid urbanization, and a rise in disposable income will spur regional market growth. Additional factors include the rising awareness regarding the health benefits of meal-replacement products such as edible bars and shakes. During the lockdowns, eBay Inc. and Amazon were some of the major market players that focused on supplying essentials, especially food products, to customers.

Company Insights 
The meal replacement market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
Abbott Laboratories, Atkins Nutritionals Inc., Blue Diamond Growers, Bobs Red Mill Natural Foods Inc., Cambridge Commodities Ltd., Conagra Brands Inc., Glanbia plc, Healthy N Fit International Inc., Herbalife International of America Inc., ITOCHU Corp., Kellogg Co., Natures Bounty, Nestle SA, Nutiva Inc., Nutricore Biosciences Pvt. Ltd., NutroActive Industries Pvt. Ltd., RITS Lifesciences Pvt Ltd., The Kraft Heinz Co., Unilever PLC, Zoic Pharmaceuticals Pvt. Ltd.

View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

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The pureed food market size is expected to increase to USD 3.70 billion from 2021 to 2026, at a CAGR of 5.5%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio