Meal replacements are a nutritious supplement and are easy to use and store.
NEWARK, UNITED STATES, June 10, 2022 /EINPresswire.com/ — The Brainy Insights has launched a study titled Meal Replacement Market Size by Product Type (Ready-to-Drink, Bars, Powder), Distribution Channel (Offline and Online), Regions, Global Industry Analysis, Share, Growth, Trends and Forecast 2022 to 2030
The global meal replacement market is expected to grow from USD 12.8 billion in 2021 to USD 22.18 billion by 2030, at a CAGR of 6.3% during the forecast period 2022-2030. Long working hours and a sedentary lifestyle are expected to drive the meal replacement market as these are ready-to-eat meals that can be consumed to get rid of hunger instantly. Growing consumer awareness of healthy meal is expected to boost the market growth.
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The powders segment led the market with a market value of around 5.2 billion in 2021.
The product type segment is divided into ready-to-drink, bars and powder. The powder segment led the market with a market value of approximately $5.2 billion in 2021. Powdered meal replacements are easy to use and store, making them a convenient drink to replace regular meals. It is also widely used in weight loss diets and has several nutritional values.
The offline segment is expected to grow at the fastest CAGR of 7.2% during the forecast period.
The distribution channel segment is divided into online and offline segments. During the forecast period, the offline segment is expected to grow at the fastest CAGR of 7.2%. There is a huge offline distribution network driving the growth of the market. Manufacturers decide where their products should be kept in the store so that they easily catch the customer’s attention. Due to this strategic product placement in offline stores, the market is expected to witness the highest growth in the market.
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Regional Segmentation Analysis:
The market is analyzed based on five regions, namely North America, Europe, Asia-Pacific, South America, Middle East and Africa. During the forecast period, North America is expected to be the largest market. The meal replacement market in the Asia-Pacific region has grown rapidly. The Asia-Pacific region has the highest obesity rates in the world, but on the contrary, a large part of the Asia-Pacific population is health and fitness conscious and opts for a healthy diet to a healthy life. The trend of weight management in Australia is driving the growth of the market in Australia.
Global Meal Replacement Market by Product Type:
• Ready-to-drink bars
Global Meal Replacement Market by Distribution Channel:
• On line
Major market players include Abbott Laboratories, Amway, Trinkkost GmbH, Saturo Foods GmbH, Futricio, Orgain Inc., Atlantic Essentials Products, Inc., Herbalife International of America, Inc., Sklew Biotech, and RITS Health Care Products, among others. .
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