The meal replacement market consists of powdered, bar, liquid and other substitutes meant to replace a meal, usually breakfast or lunch. These products offer portion-controlled nutrition through fortified carbohydrates, proteins, vitamins and minerals. Meal replacements are gaining popularity as they help manage weight, provide complete nutrition and save time for busy professionals and individuals. Growing awareness of the link between diet and health is driving demand for convenient yet healthy alternatives to traditional meals.

The Global Meal Replacement Market is estimated to be valued at US$14.01 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the meal replacement market are Abbott Laboratories, Amway, Atkins, Blue Diamond Growers, General Mills, Glanbia Plc, Herbalife Nutrition, Huel, Kellogg Co., Nestle, Nu Skin Enterprises, Inc., Slimfast, Soylent, Unilever, Usana Health Sciences Inc., Wild Oats Markets., Zoic Pharmaceuticals, Laboratoire PYC, Bariatrix Europe, and Kisan Products.

The growing demand for convenient and healthy substitutes to regular meals owing to busy lifestyles is a key factor driving the Meal Replacement Market Growth. People have less time for meal preparation due to longer working hours. Growing health awareness and busy lifestyles are fueling demand for meal replacements globally. The market is witnessing an increasing demand for low-calorie, gluten-free, vegan and plant-based substitutes. Key players are expanding their product portfolio and global footprint to cater to the growing demand.

Meal replacements provide a quick and easy solution saving both time and effort. Furthermore, rising health awareness is prompting consumers to choose nutritious yet convenient options. Meal replacements offer portion-controlled nutrition balancing carbohydrates, proteins and other micronutrients.

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