By 2024, online retail is expected to capture 26.1% of the market share in distribution channels. The growth of online sales has significantly boosted the meal replacement sector, with meal replacement shakes seeing strong performance through these channels.

NEWARK, DE / ACCESSWIRE / August 30, 2024 / The meal replacement shake market is undergoing significant growth, reaching USD 5,189.6 million in 2024. The market is expected to show a moderate upward trend with a CAGR of 5.7% over the past decade. By 2034, the market is projected to exceed an expected value of USD 9,035.8 million, indicating its continued popularity among health-conscious consumers.

Meal replacement shakes and products are gaining popularity among consumers, especially those managing weight or diabetes, due to their convenience and nutritional benefits. The eCommerce sector is expected to support this growth, with ready-to-drink shakes and cereal bars becoming popular choices. The shift toward vegan protein due to animal welfare concerns is driving the growth of plant-based or vegan shakes.

Meal replacement shakes are popular among the working class, teenagers, hostel dwellers, and bachelors, as they are effective weight-loss tools for overweight or obese individuals with diabetes. The powdered meal replacement market is expected to continue growing in the next decade due to increasing global consumption by fitness enthusiasts.

North America's market has the prime revenue share, with the United States leading the way. Asia Pacific is expected to witness a sales boost in India, China, Malaysia, and Thailand, with international companies establishing industrial facilities and small-scale companies leveraging emerging segments like non-GMO, sugar-free, soy-free, gluten-free, and vegan products.

Meal replacement shakes are considered to be calorie-controlled shakes that come in a prepackaged form. These are easily available in powder premixes or ready-to-drink forms.

These are fortified with vitamins and minerals to provide additional nutritional value. The rising focus of various manufacturers on the production of organic shakes is set to drive the global market.

The growing inclination of consumers towards short meals is compelling key players to come up with better-for-you, healthier meal replacement products. The rising entry of many start-up companies through e-commerce is another factor that is likely to accelerate the market.

In addition to that, the increasing popularity of bottled energy drinks, celebrity endorsements, digital marketing, and attractive packaging are expected to create high demand for meal replacement shakes in future. The availability of these products in supermarkets/hypermarkets with clear labels providing details about their ingredients is another vital factor that is estimated to augment the growth.

"While traditional meal replacement shakes hold sway, the quest for novel sustainable choices fuels interest in nutrition and organic alternatives that industry players are capitalizing"- says Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Market Study

• The United States is experiencing significant growth in the meal replacement shake market, and it is anticipated to register a CAGR of 3.1%. This growth is driven by the growing preference for preventive health management practices.

• Germany's market is expected to develop at a CAGR of 5.5%, driven by the growing preference for organic and vegan meal replacement drinks.

• China's market is predicted to rise at a CAGR of 6.3%, driven by the focus on branding and collaboration among industry players.

• Japan's market is expected to progress at a CAGR of 7.3%, driven by the aging population and rising obesity rates.

• India's market is expected to expand at a CAGR of 8.1%, driven by the availability of variety of meal replacement shakes, along with rising online retail platforms.

Which are Some Prominent Drivers Spearheading Meal Replacement Shakes Market Growth?

The rising demand for nutritious food and the high disposable income of people are projected to spur the sales of meal replacement shakes in the forthcoming years. The rising interest of people in health and nutrition, increasing geriatric population, and consumption of junk food are expected to drive the market.

The surging prevalence of various chronic diseases, such as osteoporosis, type 2 diabetes, and cardiovascular diseases is likely to bode well for the market. According to the World Health Organization (WHO), every year, cardiovascular diseases cause nearly 17.9 million deaths across the globe. Also, more than four out of five deaths occur due to strokes and heart attacks. These numbers are estimated to grow at a rapid pace in the forecast period, thereby bolstering the market.

What are the Challenges Faced by the Meal Replacement Shakes Industry?

Many consumers often mistake protein shakes for meal replacement shakes. The former is mainly made for muscle gain and athletic performance, while the latter is designed for convalescence, wound healing, and weight management. Protein shakes fulfill the protein requirement of an individual, whereas meal replacement shakes deliver complete nutrition as of a meal. The lack of awareness regarding the difference between both products, especially in emerging economies may hamper the meal replacement shakes market growth in future years.

Competitive Landscape in the Meal Replacement Shake Market

The market is highly competitive, with major players focusing on research and development, expanding distribution networks, innovating product ranges, and launching marketing initiatives. Emerging segments like sugar-free, vegan, gluten-free, soy-free, and non-GMO products are leveraging opportunities.

The meal replacement shake market, which includes calorie-restricted, plant-based ingredients, is expected to grow due to these factors. Key players include Amway International, Abbott Laboratories, Trinkkost GmbH, Perrigo Company, Herbalife International, Nestle, Kellogg Company, Huel, Atkins US, USANA Health Sciences, NU Skincare, and Zywie Ventures Private Limited.

Browse full Report: https://www.futuremarketinsights.com/reports/meal-replacement-shakes-market

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

Recent Development in the Meal Replacement Shake Market

• In 2022, BOL Foods, a plant-based meal-oriented company, collaborated with Huel and Soylent to launch their new powder shakes in the meal replacement market.

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

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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