Meal Replacement Products Market

Global Meal Replacement Products Market By Product (Powder, Ready to Drink and Protein Bar) By Distribution Channel (Online and Offline) By Region, Industry Analysis and Forecast, 2019 - 2025

Report Id: KBV-3086 Publication Date: November-2019 Number of Pages: 161
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Market Report Description

The Global Meal Replacement Products Market is expected to reach $24.8 billion by 2025, growing at a CAGR of 6.9% during 2019-2025. Meal replacement products are available across the market in forms of bars or brinks which help to reduce the burden of meal preparation. It contains the same vitamins and minerals as solid food, along with the mass. The most interesting part of meal replacements is that there is no weight loss. It just balances the body's nutrient content. Besides the bodybuilders, the daily workers and hectic scheduled people often enjoy this staple diet replacement.

As a result of increasing awareness of the benefits of meal replacement diets, most European countries are also actively contributing to the market share. People in countries such as Spain consume powdered meal replacement products to meet their fitness goals because these products are low in calories and high in protein, fiber, fatty acids, vitamins, minerals, and complex carbohydrates.

Global Meal Replacement Products Market Size

Meal Replacement Products Market Size

A healthy eating habit can be a real challenge for a few days, even for dietitians and patients. Travel, tight schedules, and unforeseen situations can make a well-balanced meal or snack of nutritious foods almost impossible to consume. That's when most people rely on meal replacement products calorie-controlled, prepackaged foods like bars and drinks that provide a substitute for regular meals or snacks. Meal replacement foods also play an important role in weight management programs and metabolic medicine in addition to their comfort.

Meal replacement products can be stored easily and have a longer shelf life. Most of these products are available as bars or ready-to-drink shakes, which makes them easy to grab and consume on the go. The powdered form is the most popular product type among fitness enthusiasts. To inculcate healthier dietary habits among their clients, most gyms promote meal replacement products. With the growing utility of e-commerce as a marketing tool, suppliers of meal replacement products are expected to release their products to broaden their market size in their in-house online portals.

The vast network of global manufacturers for offline distribution is driven by the sale of meal replacement products is by offline channels. Since manufacturers have control over how and where their brand is placed in a grocery store, during the forecast period, this segment is expected to hold the leading market share. Most gym owners are also selling major meal replacement products in gyms, which is expected to increase sales offline.

Global Meal Replacement Products Market Share

Meal Replacement Products Market Share

The ready-to-drink segment is projected to grow at a rapid growth rate from 2019 to 2025. It is expected that the increasing popularity of bottled energy drinks will also boost the meal replacement drinks industry. Increasing consumer preference for ready-to-drink food is enticing packaging, digital marketing, and celebrity endorsements.

The meal replacement market is highly fragmented and competitive with the existence of several global players like Abbott Nutrition, Kellogg, Herbalife, and Unilever. A surge in health consciousness, combined with the prevalence of diseases like obesity and diabetes, is projected to spur innovation. Manufacturers are focused on the introduction of new products with different nutritional qualities to target younger customers. Digital advertising and celebrity endorsements are some of the major trends observed in the market.

The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Unilever PLC and Nestle S.A. are some of the forerunners in the Meal Replacement Products Market.

Free Valuable Insights: Global Meal Replacement Products Market to reach a market size of $24.8 billion by 2025

Meal Replacement Products Market Cardinal Matrix

Meal Replacement Products Market Cardinal Matrix

Companies such as Kellogg Company, The Kraft Heinz Company, Abbott Nutrition (Abbott Nutrition), General Mills, Inc., Glanbia PLC, Bob’s Red Mill Natural Foods, Inc., Herbalife International, Inc., and Blue Diamond Growers, Inc. are some of the key innovators in Meal Replacement Products Market.

Based on Product, the market is segmented into Powder, Ready to Drink and Protein Bar. Based on Distribution Channel, the market is segmented into Online and Offline. The report also covers geographical segmentation of Meal Replacement Products market. The geographies included in the report are North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. For the better analysis, the geographies are segmented into countries.

Key companies profiled in the report include Abbott Laboratories (Abbott Nutrition), Glanbia PLC, General Mills, Inc., Bob’s Red Mill Natural Foods, Inc., Unilever PLC, Nestle S.A., Herbalife International Inc., Kellogg Company, The Kraft Heinz Company and Blue Diamond Growers, Inc.

Recent Strategies Deployed in Meal Replacement Products Market

» Collaborations, Partnerships and Agreements:

  • Sep-2019: Kraft Heinz came into partnership with Bailey's brand of Diageo P.L.C. in order to launch a line of non-alcoholic coffee products. The portfolio includes ground coffee, ready-to-drink coffee, and K-cup formats with the flavors of Bailey's original Irish cream.
  • Mar-2019: Unilever U.K. collaborated with Humdinger, Tayto Group, and Kallo Foods for Marmite-flavored snacks range. Marmite is a British snack spread, which is made from yeast extract. Kallo Foods produces Marmite bread stick bites and rice cakes, Tayto Group produces Marmite crisps, and Humdinger produces Marmite nuts.

» Acquisition and Mergers:

  • Sep-2019: Unilever took over Graze, a producer of healthy snacks from Carlyle Group. The acquisition expands the Unilever's presence in snacks category.
  • Apr-2019: Kraft Heinz acquired Primal Nutrition, the maker of Primal Kitchen branded products. The acquisition complements the product portfolio of Kraft Heinz. Primal's portfolio comprises of snacks, sauces, condiments, and dressings.
  • Jul-2018: Unilever acquired OLLY Nutrition, a premium well-being business in the minerals, vitamins, and supplement category and also sells snack bars and protein powders. The acquisition helps Unilever in broadening of their portfolio.
  • Apr-2018: Glanbia acquired SlimFast, a leading weight management and health & wellness brand. SlimFast has its footprints in Ready-to drink and ready-to-mix powder formats, comprising of smoothies and meal replacement products. The acquisition complements the existing portfolio targeting the lifestyle customers.
  • Jan-2018: Unilever announced that it has signed an agreement with Mae Terra that provides nutritious and organic food products to the health-conscious products. This acquisition strengthens the food portfolio of Unilever and accelerates its expansion in organic and natural segment.
  • Oct-2017: Kellogg took over Chicago Bar Company LLC, maker of RXBAR, a line of clean-label protein bars. The acquisition bolsters the already strong wholesome snacks offering of Kellogg.
  • Feb-2016: Glanbia took over ThinkThin LLC in order to broaden its Performance Nutrition's presence in the bar category. It also provides a platform for Glanbia Performance Nutritions to enter into Better-For-You snacks category and increases its portfolio in existing channels.

» Product Launches and Product Expansions:

  • Jun-2019: Abbott introduced ZonePerfect Keto, a product line that is made with 5% carbs, 75% fat, and 20% protein. This product line offers a combination of macronutrients, which is balanced in a way that helps the body enter ketosis for fat burning.
  • May-2019: Bob's Red Mills launched a new line of plant-based Nutritional Booster Protein Powders, a gluten-free, vegan, and soy-free powder. The new Nutritional booster protein powders contain 20 grams of protein per serving, and have beneficial probiotics, heart-healthy omega, and pre-biotic fiber.
  • Apr-2019: Kraft Heinz launched debuted Brunchables, a breakfast version of its Lunchables brand. Through this, the consumers can build their own breakfast sandwiches with ingredients including cheese, mini blueberry muffins, ready-to-eat bacon strips, and breakfast flatbreads.
  • Mar-2019: Blue Diamond introduced Almondmilk Creamer and Almondmilk Blended with Real Bananas, two new Almond Breeze® products. These plant-based beverages are the excellent source of Vitamin D, calcium, and Vitamin E.
  • Mar-2019: Herbalife introduced Formula 1 Select Meal Replacement shake and Protein Drink Mix Select. This has been formulated with quinoa, pea, and rice proteins.
  • Feb-2019: Nestle USA launched NESCAFÉ® Coffee Protein Smoothie and NESCAFÉ® Cold Whipped Latte for offering a high-quality coffee experience. Nescafe Coffee protein smoothie is a plant-based coffee that is made with 100% Colombian arabica coffee, almond butter, and oats. It includes 15g of protein per serving and available in two flavors such as mocha and banana.
  • Feb-2019: EPIC Provisions, a brand of General Mills unveiled Rise & Grind morning-inspired bar line and new flavors across performance bar lines, EPIC's pork skin, and snack trip. This bar is made with organic egg yolks, humanely raised pork, and chicken raised without antibiotics. This bar is available in two varieties such as bacon & egg yolks, which provides 9 grams of protein and chicken, egg yolks, & apple, which provides 13 grams of protein.
  • Feb-2019: Glanbia extended its cereals, bars, and snacks division by introducing Crunchie milk protein crisps. This product is made with 100% milk protein and more than 74% of protein. It is formulated for use in cereals, protein bars, and snacks for high-protein functions.
  • Jan-2019: Fiber One, a brand of General Mills released Fiber One Strawberries and Vanilla Clusters for increasing the product line of its organic snacks with fiber intake. It comprises of 35% of daily recommended value of fiber in every one-cup serving.
  • Jan-2019: Blue Diamond announced the launch of Almond Protein Powder, an essential component of a protein ingredient blend. The powder is an excellent source of phosphorous, fiber, copper, and magnesium, and good source of calcium and potassium.
  • Jan-2019: Herbalife India, a subsidiary of Herbalife Nutrition Ltd. unveiled Strawberry flavor variant of Formula 1 Nutritional shake mix. This meal allows the consumers to enjoy a balanced and healthy meal, which can be prepared instantly.
  • Dec-2018: Kellogg unveiled Special K® Protein Honey Almond Ancient Grains cereal in order to bring healthy snacks to people. This cereal includes 15g of protein per serving that can climb to 21g of protein per serving while served with ¾ cup skim milk. This helps the women in taking 46g of protein per day.
  • Dec-2018: Kellogg introduced Kellogg's® Honey Nut Frosted Flakes™ for the creation of new cereal which has both honey-nut and Frosted Flakes in order to deliver high protein in snacks. This perfectly complements the toasted corn flacks with a blend of real honeynutty flavor, and brown-butter notes, while maintaining a long-lasting crunchy texture.
  • Oct-2018: Kellogg released Kellogg's® Honey Smacks® comprises of honey-flavored puffed wheat cereal for the expansion of product portfolio.
  • Aug-2018: EPIC Provisions, a brand of General Mills launched EPIC Performance, a new line of premium non-GMO protein bars in order to enhance the snacks product line.
  • Jul-2018: Herbalife launched new Formula 1 Banana Cream Meal Replacement Shake, the first in a new generation of Formula 1 shakes. This offers high quality of protein (18 g of protein), vitamins & minerals (25 in total), and fiber (4 grams per serving. The shake offers convenience and great nutrition.
  • Jun-2018: Kellogg launched Pringles®, a new Nashville Hot Chicken Flavor for bringing the nutrition in snacks. This flavor is made with paprika, cayenne pepper, and jalapeños to offer customers a taste of the iconic dish in the form of potato chips.
  • May-2018: Blue Diamond announced the launch of Almonds & Fruit, a distinctive take on traditional trail mix. This launch has been focused on the expansion of its premium snacks portfolio, which offers unparalleled quality and flavor.
  • Apr-2018: Abbott unveiled new high-protein and low-sugar drink for extending its portfolio of the "Ensure" range of health drinks in United States. For providing enough protein in diet, each 330ml Ensure Max Protein carton contains 1g of sugar, 30g of protein, and 150 calories.

» Expansions:

  • Jan-2019: Nestle opened a new coffee factory for its Bonjoro brand, which it acquired in 2017 from Caravan Marketing Company. This factory has eight production lines and has the capacity of 14,000 tons. This factory has been opened in Egypt for the expansion of its geographic footprint and market share.
  • Aug-2018: Nestle expanded its reach to Dominician Republic by opening a dairy factory. This expansion is focused towards the development of ready-to-drink products and increasing its offerings in national markets.
  • May-2018: Nestle expanded its reach to Switzerland by opening two units, Nestlé Research Center and the Nestlé Institute of Health Sciences in order to enhance the positive nutrients for the improvement of nutritional profile of the products.

Scope of the Meal Replacement Products Market Analysis

Market Segmentation:

By Product

  • Powder
  • Ready to Drink and
  • Protein Bar

By Distribution Channel

  • Online and
  • Offline

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Australia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • Abbott Laboratories (Abbott Nutrition)
  • Glanbia PLC
  • General Mills, Inc.
  • Bob’s Red Mill Natural Foods, Inc.
  • Unilever PLC
  • Nestle S.A.
  • Herbalife International Inc.
  • Kellogg Company
  • The Kraft Heinz Company and
  • Blue Diamond Growers, Inc.
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Frequently Asked Questions About This Report

The global Meal Replacement Products market size is expected to reach $24.8 billion by 2025.

The major factors that are anticipated to drive the Meal Replacement Products industry include a rise in the per capita income, a significant surge in the demand for meal replacement shakes, and increasing demand for convenience food.

Some of the key industry players are Abbott Laboratories (Abbott Nutrition), Glanbia PLC, General Mills, Inc., Bob's Red Mill Natural Foods, Inc., Unilever PLC, Nestle S.A., Herbalife International Inc., Kellogg Company, The Kraft Heinz Company and Blue Diamond Growers, Inc.



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