The meal replacement shakes global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Meal Replacement Shakes Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The meat replacement shakes market size has grown strongly in recent years. It will grow from $5.20 billion in 2023 to $5.64 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increasing pace of life, growth of fitness, growing preference for preventive health management, rise busy lifestyles and hectic work schedules, and rising demand for nutritional products.
The meat replacement shakes market size is expected to see strong growth in the next few years. It will grow to $7.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to growing consumer awareness, rising concerns about sustainability, rise in working women populace, rising demand for convenient and small-portion diet food, and increases plant-based ingredients. Major trends in the forecast period include advances in biotechnology and data analytics, shakes made with plant-based and sustainably, product innovation, introducing shakes that are vegan and gluten-free, and rising technology and digital platforms.
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Scope Of Meal Replacement Shakes Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Meal Replacement Shakes Market Overview
Market Drivers –
The increasing demand for plant-based food is expected to propel the growth of the meal replacement shakes market going forward. Plant-based foods are derived from plants, including fruits, vegetables, grains, nuts, seeds, legumes, and products from these ingredients. The increasing demand for plant-based food is due to its health benefits, environmental sustainability, biodiversity preservation, and ethical and animal welfare concerns. Meat replacement shakes help promote plant-based foods by offering a convenient, nutritious, and satisfying alternative to meat, supporting individual health and broader environmental and ethical goals. For instance, in December 2021, according to the Plant Based Foods Association, a US-based food association, in 2023, 60% of U.S. households purchased plant-based foods, maintaining the same level as the previous year. Plant-based foods accounted for 1.1% of the total retail food and beverage dollar sales in 2023. Therefore, increasing demand for plant-based food drives the meal replacement shakes market.
Market Trends –
Major companies operating in the meal replacement shake market are developing innovative products, such as plant-based shakes, to cater to the growing demand for sustainable, health-conscious, and ethically produced food options. Plant-based shake refers to a beverage made primarily from plant-derived ingredients that aims to deliver a nutrient-dense, low-sugar, high-fiber, and dairy-free beverage using wholesome ingredients from plants. For instance, in February 2024, HLTH Code, a US-based meal replacement company, launched a plant-based meal replacement shake. These are suitable for vegans and vegetarians to meet the growing demand for dairy-free and vegan-friendly nutrition products in health and wellness. It is formulated to be a nutritionally complete meal, with 400 calories per serving, and is designed to support metabolic health, weight management, and muscle growth.
The meal replacement shakes market covered in this report is segmented –
1) By Product Type : Ready-To-Drink Products, Powdered Products
2) By Form: Powder, Liquid
3) By Flavor: Vanilla, Chocolate, Mocha, Berries, Other Flavors
4) By Nature Meals: Organic, Conventional
5) By Distribution Channel: Direct Sales, Indirect Sales, Modern Trade, Convenience Stores, Independent Grocery Retailers, Specialty Food Stores, Online Retail, Other Retail Formats
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Regional Insights –
North America was the largest region in the meal replacement shakes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the meal replacement shakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the meal replacement shakes market are Abbott Laboratories, The Kellogg Company, Glanbia PLC, Herbalife Nutrition, Perrigo Company Plc, The Simply Good Foods Company, Organic Inc., Bob’s Red Mill Natural Foods Inc., Ripple Foods, Idealshape LLC , Soylent Inc., Medisys Biotech Pvt Ltd., Fast&Up, Nouveau Medicament (P) Ltd., Saturo Food GmbH, HLTH Code, Elev8 Brands Inc., Marico Pvt Ltd., The Divine Foods, Damhert Nutrition
Table of Contents
1. Executive Summary
2. Meal Replacement Shakes Market Report Structure
3. Meal Replacement Shakes Market Trends And Strategies
4. Meal Replacement Shakes Market – Macro Economic Scenario
5. Meal Replacement Shakes Market Size And Growth
…..
27. Meal Replacement Shakes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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