Global Meal Replacement Market - Analysis By Type (Ready to Drink, Edible Bars, Powdered Products, Others), By Distribution Channel: Trends, Opportunities and Forecast (2019-2024)

Date: 30 September 2019

According to a research report published by Azoth Analytics in September 2019, the Global Meal Replacement Market was valued at USD 8794.73 million the year 2018. Global Meal Replacement market is expected to grow due to a number of factors that includes rapid urbanization in emerging economies, growing health concern among the consumers in developing regions along with increasing working population and rising demand for on-the-go meal because of daily hectic life of the consumers. In addition, ever growing urban and working population with rising income and increase in old population also fuelling the meal replacement market.
According to the Azoth Analytics research report titled “Global Meal Replacement Market - Analysis By Type (Ready to Drink, Edible Bars, Powdered Products, Others), By Distribution Channel: Trends, Opportunities and Forecast (2019-2024)”, Global Meal Replacement Market is also driven by shifting consumer inclination from conventional food to processed foods, The ever-rising working population is also diverting the consumers toward the consumption of meal replacement products.

The market condition of meal replacement has been improving gradually on the back of easy availability of meal replacement in vast number of hypermarkets, supermarket, and online platforms. The American region holds the largest market of Meal Replacement Market but it is estimated that APAC will surpass the American region and will capture largest market share in the forecast period. Moreover, APAC region will also witness the highest growth rate among the regions.

Meal replacement products are pre-packaged and calorie-controlled products, such as bars, powdered products and shakes, which can replace a solid heavy meal. Meal replacement products have many nutritional benefits. Consumers in developed and developing countries are consuming powdered meal replacement products, in order to achieve their fitness goals, as they are low in calories and rich in protein, fiber, fatty acids, vitamins, minerals, and complex carbohydrates. Market players are focusing on introducing all-organic meal replacement shakes, in order to cater to the needs of patrons. Companies equipped with the new edge technologies for production, packaging and preserving will likely to gain market share in the forecast period.

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