Meal Replacement Products Market

The global meal replacement market will witness a growth rate of 6.3% over the forecast period. Meal replacement products include all essential nutrients, adequate fats and proteins, making them a good alternative for a balanced meal. The increasing incidences of diabetes and obesity have driven the consumer’s focus towards weight management products, thereby driving the market growth.

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Meal Replacement Products Market Dynamics

With the rising working population, eating pattern of consumers has significantly changed. Individuals, these days, are seeking for healthy and convenient food alternatives. The increasing health awareness and the accelerating cases of diseases such as obesity, cardiovascular diseases, and diabetes have raised the concern towards weight loss. All these factors together will propel the meal replacement market size. Meal replacement shakes and bars serve a healthy alternative for individuals over fast food.

Further, rapidly accelerating urban population, soaring per capita income, and increasing health awareness among individuals are some other factors encouraging the market growth. However, the easy availability of counterfeit food products and excessive production & marketing cost may restrain the meal replacement market growth.

Distribution Channel Segment Drivers

The Online segment is expected to grow at a higher rate due to the accelerating penetration of e-commerce and the increasing emphasis of producers to target a large audience on e-commerce platforms. Moreover, leading players are investing in various digital marketing schemes to captivate consumers to purchase their products through online channels.

Regional Drivers

The North America region will hold the largest share in the meal-replacement products market over the forecast period. The increasing health awareness among individuals in this region has encouraged the consumption of healthy food alternative. Also, the increasing health problems caused by obesity, diabetes, and high blood pressure, has shifted consumers towards meal-replacement products. Various producers in the region are emphasising on developing products to cater the quality standards of the FDA to raise their sales in the market.

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