According to the global meal replacement products market report by IMARC Group, the market to exhibit a CAGR of around 7% during 2020-2025. Meal replacement products refer to a well-balanced and pre-packaged meal that offers an alternative to regular meals or snacks. They are a rich source of proteins, carbohydrates and fats, which are often fortified with vitamins, minerals, and other micronutrients.
Market Trends
Meal replacement products play a vital role in weight management programs wherein they are utilized as a suitable replacement for unhealthy or high-calorie products while also acting as a metabolic medicine. The rising health-consciousness is acting as another major growth-inducing factor. Furthermore, hectic and busy lifestyles of consumers have compelled them to increasingly opt for easy-to-prepare nutritional products, such as meal replacement products. Moreover, the leading companies are manufacturing different variants for providing a more balanced ratio of essential nutrients to satisfy the needs of the physically impaired, athletes and outdoor enthusiasts. They have also introduced plant-based and organic meal replacement shakes or bars that are gluten-free and do not contain artificial colors, sweeteners and preservatives. This, coupled with the increasing demand for convenience foods, is expected to further create a positive outlook for the market in the coming years.
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Market Segmentation:
Breakup by Product Type:
Ready-to-Drink Products
Edible Bars
Powdered Products
Others
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Breakup by Application:
Weight Gain
Weight Loss
Physical Fitness
Wound Healing
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Competitive Landscape:
Some of the major players operating in the industry worldwide include Abbott Laboratories (NYSE: ABT), Blue Diamond Global Ingredients Division, Bob’s Red Mill Natural Foods, General Mills, Glanbia Plc, Healthy ‘N Fit International Inc., Herbalife International of America Inc., Company, Nestle SA, Nutrisystem Inc., Unilever Plc, Ksf Acquisition Corporation, etc.
View Report TOC, Figures and Tables: https://www.imarcgroup.com/meal-replacement-products-market
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