North America Meal Replacement Products Market By Product (Powder, Ready to Drink and Protein Bar) By Distribution Channel (Online and Offline) By Country, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
The North America Meal Replacement Products Market is expected to grow at a CAGR of 6.2% during 2019-2025. The US market dominated the North America Meal Replacement Products Market by Country 2018, thereby, growing at a CAGR of 5.8 % during the forecast period.
Meal replacement beverages emerged from those used in clinical settings when patients were unable to tolerate regular food due to physical disability or when additional calories were needed. In comparison, most meal replacement bars like Clif Bar, Bonk Breaker, and LÄRABAR, have been and continue to be developed by athletes and outdoor enthusiasts who find the consumer market insufficient to meet their requirements. Hundreds of meal replacement options are available across the market today— from gas stations to yoga studios, just about everywhere.
Presently, Americans are becoming anti-carbohydrates; however, they don’t cook as much these days. In the United States, Type 2 diabetes has become a major health concern. Mostly, about 95% of people with diabetes are suffering from type 2 diabetes and these people are overweight or obese. Weight loss is a crucial therapeutic goal for obese or overweight patients with diabetes. Meal replacement shakes and nutrition bars for overweight or obese people with diabetes are simple and effective weight loss options. These products have more advantages as compared to self-selective weight-loss diets.
To increase their market penetration, most companies opt for a digital advertising platform to enter untapped or physically impenetrable markets. This is anticipated to have a positive impact on market growth. The primary use of meal replacement items is for weight management. Therefore, for effective weight loss, most gym enthusiasts and fitness trainers suggest these products. Such a preference for meal replacement products is expected to provide lucrative growth opportunities to the market.
The per capita disposable income measures the willingness of a person to purchase goods or services. As disposable income increases, customers are more likely to increase their purchases of discretionary items, such as meal replacement products. Nevertheless, the industry is competing against more costly weight loss products, including pills and diet food delivery services, and in times of tight spending, it is attracting some weight-conscious consumers. In the coming years, disposable income is expected to rise, creating a potential opportunity for the industry.
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 countries included in the report are USA, Canada, Mexico and Rest of North America.
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.
Scope of the Meal Replacement Products Market Analysis
- Ready to Drink and
- Protein Bar
By Distribution Channel
- Online and
- Rest of North America
- 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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