The meal replacement shake market is seeing robust growth, expected to reach USD 5,189.6 million in 2024, surpassing previous year figures. Over the past decade, the market has shown a steady upward trend and is projected to maintain this momentum, achieving a CAGR of 5.7% through 2034.
Looking towards 2034, consumption of meal replacement shakes is anticipated to continue rising, reaching an estimated value of USD 9,035.8 million. This growth underscores the enduring popularity of these shakes among health-conscious consumers seeking convenient and nutritious dietary options.
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Meal replacement shakes are referred to the products with calorie-controlled shakes in a pre-packaged form. Meal replacement shakes in the market are present in ready-to-drink or powder premixes form. The calories from a meal replacement shake are in enough amount to replace a meal. These meal replacement shakes are fortified with minerals and vitamins to add extra nutritional value.
Meal replacement shakes products in the market often bear the claims such as GMO-free, gluten-free, fat-free, and sugar-free or reduced sugar. Meal replacement shakes in the market are available in different flavours such as vanilla, chocolate, berry, etc. Many manufacturers of the meal replacement shakes are manufacturing organic products considering the current trend of the organic products.
Recently, meal replacement products have been manufactured in the market targeting not only the elderly or ill adults like earlier, but also healthy adults. The meal replacement shakes are targeting healthy adults as a convenient source of a balanced nutrition. The purpose of meal replacements includes weight management, weight loss and gain. Prevalence of the obesity due to the sedentary lifestyle majorly observed in the developed nations is now a pandemic phenomenon. Since the health conscious populace around the world is increasing, the demand for meal replacement shakes is surging.
Meal replacement shakes offer convenient, portable, take-it-on-the-go, and hassle-free way to consume your meal on a busy day or while on travel. The packaging of the meal replacement also provides you a weight management plan, which also adds attractive feature to the product increasing the product popularity and in turn the sales of the product.
Competitive Landscape
The meal replacement shake market is extremely competitive, with the presence of major players accounting for a significant share. Market players have implemented numerous developmental strategies to amplify their market share, increase profitability, and remain competitive in the market.
Majority of these market players are focusing on research and development activities. At the same time, others are working to expand their distribution networks, innovate unique product ranges, and launch novel marketing initiatives to strengthen their position in the global market.
Multiple industries in the market are concentrating on leveraging the opportunities offered by emerging segments like sugar-free, vegan, gluten-free, soy-free, and non-GMO products. Companies have entered the market with ready-to-drink shakes manufactured with calorie-restricted, plant-based ingredients. Such competitive factors are estimated to drive market growth.
Recent Developments
- In February 2024, the Hlth code launched the complete meal of plant-based shakes for those consumers who are vegan and vegetarians.
- In November 2022, BOL Foods, the plant-based real meal-oriented company, publicized its plan to collaborate with Huel and Soylent in the meal replacement market with their newly launched powdered shakes.
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Key Companies in the Meal Replacement Shake Market
- Saturo Food GmbH
- Healthy Natural Solutions
- Amway
- Futricio
- Medisys Biotech Pvt. Ltd.
- Abbott Laboratories
- Nutrition and Santé SAS
- Organic, Inc.
- Herbalife Nutrition
- Perrigo Company Plc.
- Nouveau Medicament (P) Ltd.
- Trinkkost GmbH
- Damhert Nutrition
Key Coverage in the Meal Replacement Shake Market Report
- Nutritional supplements industry analysis
- Meal replacement products market trends
- Shake substitutes industry
- Market demand for meal replacement shakes
- Competitive landscape in shake market
- Market segmentation of meal replacement products
- Industry growth factors for nutritional supplements
- Market share of meal replacement shake brands
- Emerging opportunities in meal replacement sector
Key Segments
By Form:
- Powder
- Liquid
By Flavor:
- Vanilla
- Chocolate
- Mocha
- Berries (strawberry, raspberry, others)
- Other Flavors (Mint, Peanut Butter, Coconut, etc
By Distribution Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Stores
- Independent Grocery Retailers
- Specialty Food Stores
- Online Retail
- Other Retail Formats
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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