Global meal replacement products market size to register 7.64% CAGR

On Oct 11, 2021

The business intelligence report on ‘global meal replacement products market’ elaborates on key factors driving industry growth over the analysis timeframe (2021-2027).

Pune, India, Oct. 11, 2021 (GLOBE NEWSWIRE) — According to MarketStudyReport, global meal replacement products market was assessed at USD 11 billion in 2020 and is anticipated to be worth USD 18.42 billion by 2027, expanding at 7.64% CAGR between 2021-2027. Growing popularity of weight management plans, in tandem with increasing prevalence of obesity are the key factors credited for this expansion.

Additionally, the research literature studies the business sphere extensively by segmenting it based on technology, test type, and end-user spectrum. Details about growth rate projections, revenues generated, and market share captured by each segment are given as well.

Proceeding further, an in-depth overview of the competitive arena of the market sphere, inclusive of key companies, their product and service offerings, and predicted market share & growth rate of each player is incorporated in the document.

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For the unversed, meal replacement products are foods & beverages which are consumed as an alternative for normal meals. These products contain the essential nutrition that are necessary for the human body.

Strategic moves by leading companies to enlarge profit margins will aid industry growth as well. Citing an example, in 2021, Arla Foods Ingredients S.A. launched three new solutions for meal replacement products with a range of micellar casein ingredients and whey protein for high protein bars, protein shakes, ready-to-drink beverages.

While rising incidence of chronic diseases such as diabetes, blood pressure, chronic diseases, cardiovascular diseases, and hectic lifestyle will aid revenue inflow, presence of substitutes will act as a challenge for businesses operating in this domain.

Regional landscape analysis:

Geographically speaking, Asia Pacific captured majority of worldwide meal replacement products industry share in the recent past and is projected to record highest annual growth rate between 2021-2027. Rising health conscience of consumer with preference for healthy products, large customer base, and improving e-commerce coverage are the factors attributed for this growth.

Competitive arena overview:

Abbott Laboratories, Soylent Co., Nestlé S.A., SlimFast (Glanbia plc), Herbalife Nutrition Limited, Blue Diamond Growers, General Mills Inc., Glanbia plc, Healthy ‘N Fit International Inc., and Bob’s Red Mill Natural Foods Inc. are the leading companies shaping global meal replacement products market dynamics.

To access a sample copy or view this report in detail along with the table of contents, please click the link below:

https://www.marketstudyreport.com/reports/global-meal-replacement-products-market-size-research

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