Global Meal Replacement Product Market Size Reached $11.87 Billion in 2023

Meal replacement products, as the name suggests, refer to food products that can replace regular meals. Generally speaking, meal replacement products have the characteristics of low calorie, high fiber, and strong satiety, and contain a variety of vitamins and minerals, which can meet the daily nutritional needs of the human body.

Segmented Market Analysis

From the perspective of product types, meal replacement products can be classified by form into liquid meal replacement products and solid meal replacement products; According to functional classification, meal replacement products can be divided into nutritional meal replacement products, weight-loss meal replacement products, etc. Nutritional meal replacement products mainly meet the daily nutritional needs of the human body and are suitable for people who need to supplement energy, while weight-loss meal replacement products are mainly used to control dietary calories and are suitable for people who need to lose weight or control their weight; According to the different raw materials, meal substitutes can be divided into grain meal replacement products, protein meal replacement products, and fruit meal replacement products, etc.

Related Market Research Report: Global Meal Replacement Market Professional Research Report 2024-2030, Segmented by Players, Types, End-Users in Major 40 Countries or Regions

From a regional perspective, North America and the Asia Pacific region are the main markets for global meal service products, accounting for nearly 60% of the global market share. From a national perspective, the United States is the world's largest revenue-generating country for meal replacement products. According to our research data, the revenue of the US meal service product market was $4699 million in 2023, with a revenue share of 39.57%.

Overview of Market Development and Analysis of Competitive Landscape

Meal replacement products, with their convenience, speed, and low-calorie characteristics, meet the needs of modern people's busy lives and pursuit of health. In recent years, thanks to people's increasing attention to healthy eating and lifestyle, the global market for meal replacement products has developed rapidly. According to our data, the global market size of meal replacement products reached $11.87 billion in 2023. In the future, to meet the diverse needs of consumers, meal replacement products will continue to innovate in terms of taste, nutritional content, and consumption methods, which will drive the continuous expansion of the market. It is expected that the global market size of meal service products will increase to $14.25 billion by 2026.

The Snapshot of Global Meal Replacement Market Segmentations:

By Players:

• Nutrisystem
• Herbalife
• SlimFast
• Nouveau Dietetique
• Nutiva
• Healthy 'N Fit International
• Ultimate Superfoods
• Amazing Grass
• Abbott
• Nestle
• Onnit Labs
• Glanbia
• Kraft Heinz
• Kellogg
• MET-Rx
• Orgain
• GlaxoSmithKline

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From the perspective of market competition, the concentration of the global meal replacement product market is relatively high. Data shows that in 2023, the total revenue of meal replacement products by the top 3 companies in the industry was $7840 million, with a total revenue share of 55.02%. The top three companies were Abbott Labs (Ensure), Herbalife, and ViSalus. In 2023, these three companies accounted for 26.53%, 23.42%, and 5.07% of the global market revenue for their meal replacement products.

Global Meal Replacement Product Market Size Forecast and Competitive Landscape Analysis

Source: www.globalmarketmonitor.com

By Types:

• Powdered Products
• Edible Bars
• Ready-To-Drink
• Others

By End-User:

• Supermarket
• Hypermarkets
• Online
• Others

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Table of Contents

1 Report Overview

• 1.1 Product Definition and Scope
• 1.2 PEST (Political, Economic, Social and Technological) Analysis of Meal Replacement Market
• 1.3 Market Segmentation by Type
• 1.4 Market Segmentation by End-Users
• 1.5 Market Segmentation by Regions

2 Market Trends and Competitive Landscape

• 2.1 Market Trends and Dynamics
• 2.2 Competitive Landscape Analysis

3 Segmentation of Meal Replacement Market by Types

• 3.1 Product Development Trends of Different Types
• 3.2 Commercial Product Types of Major Vendors
• 3.3 Competitive Landscape Analysis of Different Types
• 3.4 Market Size of Meal Replacement by Major Types

4 Segmentation of Meal Replacement Market by End-Users

• 4.1 Downstream Client Analysis by End-Users
• 4.2 Competitive Landscape Analysis of Different End-Users
• 4.3 Market Potential Analysis of Different End-Users
• 4.4 Market Size of Meal Replacement by Major End-Users

5 Market Analysis by Major Regions

• 5.1 Global Meal Replacement Production Analysis by Major Regions
• 5.2 Global Meal Replacement Consumption Analysis by Major Regions
• 5.3 Global Meal Replacement Production, Import, Consumption and Export Analysis by Regions

6 Product Commodity of Meal Replacement Market in Major Countries

• 6.1 Top 5 Export Countries in Meal Replacement market from 2014 to 2019
• 6.2 Top 5 Import Countries in Meal Replacement market from 2014 to 2019
• 6.3 Emerging Top 3 Export Countries Analysis
• 6.4 Emerging Top 3 Import Countries Analysis

7 North America Meal Replacement Landscape Analysis

• 7.1 North America Meal Replacement Landscape Analysis by Major Types
• 7.2 North America Meal Replacement Landscape Analysis by Major End-Users
• 7.3 North America Meal Replacement Landscape Analysis by Major Countries

8 Europe Meal Replacement Landscape Analysis

• 8.1 Europe Meal Replacement Landscape Analysis by Major Types
• 8.2 Europe Meal Replacement Landscape Analysis by Major End-Users
• 8.3 Europe Meal Replacement Landscape Analysis by Major Countries

9 Asia Pacific Meal Replacement Landscape Analysis

• 9.1 Asia Pacific Meal Replacement Landscape Analysis by Major Types
• 9.2 Asia Pacific Meal Replacement Landscape Analysis by Major End-Users
• 9.3 Asia Pacific Meal Replacement Landscape Analysis by Major Countries

10 Latin America, Middle East & Africa Meal Replacement Landscape Analysis

• 10.1 Latin America, Middle East & Africa Meal Replacement Landscape Analysis by Major Types
• 10.2 Latin America, Middle East & Africa Meal Replacement Landscape Analysis by Major End-Users
• 10.3 Latin America, Middle East & Africa Meal Replacement Landscape Analysis by Major Countries

11 Major Players Profile

• 11.1 Nutrisystem
• 11.2 Herbalife
• 11.3 SlimFast
• 11.4 Nouveau Dietetique
• 11.5 Nutiva
• 11.6 Healthy 'N Fit International
• 11.7 Ultimate Superfoods
• 11.8 Amazing Grass
• 11.9 Abbott
• 11.10 Nestle
• 11.11 Onnit Labs
• 11.12 Glanbia
• 11.13 Kraft Heinz
• 11.14 Kellogg
• 11.15 MET-Rx
• 11.16 Orgain
• 11.17 GlaxoSmithKline

12 Data Source and Research Methodology