Meal Replacement Shakes Market

Meal Replacement Shakes Market Overview

The global meal replacement shakes market size is projected to reach US$ 18.9 Billion in 2032 and exhibit growth at an astonishing CAGR of 4.3% in the forecast period from 2022 to 2032. It is set to be valued at US$ 11.4 Billion in 2022. The rising demand for meal replacement shakes from consumers who want to watch their blood sugar levels and manage weight because of diabetes is set to propel the market in the evaluation period.

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. 

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.

Why is North America Emerging as an Opportunistic Meal Replacement Shakes Market?

North America is expected to remain at the forefront by generating the largest meal replacement shakes market share in the near future. Local companies in the U.S. are set to launch new products that are not only low in calories but also healthy.

In March 2022, for instance, Southern Charm Nutrition opened its outlet in downtown Fairmont. The store will serve loaded tea and coffee bombs, as well as full meal replacement shakes. All their shakes have 17 to 24 grams of protein, are under 270 calories, and are available in a wide range of flavors. Thus, the increasing number of similar other stores across North America is set to drive the market.

Nandini Roy Choudhury

Principal Consultant

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How is Asia Pacific Contributing to Growth of the Meal Replacement Shakes Market?

The ongoing expansion of the e-commerce sector in India, China, Malaysia, and Thailand is anticipated to drive the sales of meal replacement shakes in Asia Pacific in the assessment period. Various international companies are setting up their manufacturing facilities in China and India owing to the low cost of labor and raw materials.

Some of the local companies are leveraging the opportunities provided by emerging segments, such as non-GMO, sugar-free, soy-free, gluten-free, and vegan products. The high demand for on-the-go food products, rising influence of western dietary patterns, and changing dietary preferences among people are some of the other crucial factors that are estimated to augur well for the Asia Pacific market.

Market Competition

Some of the leading companies operating in the global meal replacement shakes market are Nouveau Medicament (P) Ltd., Amway, Futricio, Organic, Inc., Saturo Food GmbH, Healthy Natural Solutions, Medisys Biotech Pvt. Ltd., Abbott Laboratories, Nutrition and Santé SAS, Herbalife Nutrition, Perrigo Company Plc., Trinkkost GmbH, and Damhert Nutrition among others.

The global market is highly competitive with the presence of several key players accounting for a major share. Majority of these players are focusing on surging their investments in research and development activities. A few others are striving to expand their distribution channels, innovative product portfolios, and launch novel marketing campaigns to strengthen their positions in the global market.

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Report Scope

Key Segments Profiled in the Meal Replacement Shakes Industry Survey

By Form:

• Powder
• Liquid

By Nature:

• Organic
• Conventional

By Flavor:

• Vanilla
• Creamy Chocolate
• Iced Mocha
• Strawberry
• Banana
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa