Meal Replacement Drinks Market – By Flavor, By Product Type, By Target Audience, By Distribution Channel, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030

Report Code: FBR 0665 Report Format: PDF + Excel

Meal Replacement Drinks Market Overview:

Meal Replacement Drinks Market size is estimated to reach $20 billion by 2031, growing at a CAGR of 7.5% during the forecast period 2024-2031. Meal replacement drinks, packed with vitamins, minerals, protein, and fiber, cater to health-conscious consumers with busy lives. These drinks offer a convenient and balanced alternative to traditional meals, meeting the demand for on-the-go nutrition and addressing the need for healthier and time-efficient dietary solutions propelling the Meal Replacement Drinks Market growth.
 
Additionally, according to the World Obesity Federation's 2023 report, by 2030, nearly 1 billion people worldwide, including one in every 5 women and one in every 7 men, will be obese. There is a rising need for quick and nutritionally sound solutions as people work to control their weight and live healthier lives. Owing to this requirement is fulfilled by meal replacement drinks, which provide an easy way for people to manage their caloric intake and advance their fitness goals.
 
Meal Replacement Drinks Market - Report Coverage:
 
The “Meal Replacement Drinks Market Report - Forecast (2024-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Meal Replacement Drinks Market.
 
Attribute Segment

 

 

 

 

By Flavor

  • Vanilla

  • Chocolate

  • Strawberry

  • Banana

  • Coffee

  • Berry

  • Tropical Nutty

  • Others

 

 

 

By Ingredient Type

  • Protein-based Meal Replacement Drinks

  • Carbohydrate-based Meal Replacement Drinks

  • Fat-based Meal Replacement Drinks

  • Vitamins and Minerals-based Meal Replacement Drinks

  • Fiber-based Meal Replacement Drinks

  • Others

 

 

By Packaging Type

  • Bottles

  • Tetra Packs

  • Pouches

  • Single Serve Packets

  • Others

 

 

By Sales Channel

  • Online Channels

  • Convenience Stores

  • Hypermarkets/Supermarkets

  • Drug Stores & Pharmacies

  • Others

 

 

 

 

 

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic has had a significant impact on various aspects of the lives, including our dietary habits. With restrictions and lockdowns in place, many people have turned to meal-replacement drinks as a convenient and nutritious option. These drinks provide a quick and easy solution for those unable to access fresh food or facing time constraints. As a result, the demand for meal replacement drinks has surged during these challenging times.
 
• Ukraine is known for its agricultural exports, including wheat and sunflower oil, which are essential components of some meal replacement products. Increased production costs and transportation expenses have contributed to these price hikes these disruptions have led to increased prices for these ingredients, affecting the overall cost of the meal-replacement drinks market.

Key Takeaways:

•  Fastest Growth of North America Region
Geographically, in the global Meal Replacement Drinks market share, North America is analyzed to grow with the highest CAGR of 8.7% during the forecast period 2024-2031. People in North America are looking for more convenient and nutritious ways to eat, so the demand for meal-replacement drinks is increasing. This is particularly relevant for persons aiming to lose weight or gain muscle, as meal replacement beverages can help them control their calorie consumption while also providing the nutrients they require.
Additionally, according to the U.S Centers for Disease Control and Prevention, the mean carbohydrate intake for men is 45.9% of kilocalories, while for women it is 47.4%. The mean protein intake for men is 16.0% of kilocalories, and for women it is 15.7%. In terms of total fat intake, men consume 35.6% of kilocalories of fat, while women consume 36.1. Interestingly, these variations in nutrient consumption align with the growing demand for meal replacement drinks in North America.
 
•  Ready-To-Drink Meal Replacement Drinks Register the Fastest Growth
In the Meal Replacement Drinks Market analysis, the ready-to-drink meal replacement drinks segment is estimated to grow with the highest CAGR of 9.1%, during the forecast period. Ready-to-drink protein drinks and meal replacement drinks, while serving different purposes, are both popular in the market due to the growing demand for convenient and efficient nutrition solutions. Protein drinks cater to athletes and gym-goers, while meal replacement drinks offer a balanced and complete meal substitute
For instance, according to the Centers for Disease Control and Prevention, the carbohydrate intake for men is approximately 45.9% of kilocalories, while for women it is around 47.4%. The protein intake for men is about 16.0% of kilocalories, compared to 15.7% for women. These dietary patterns are consistent with the increased popularity of Ready-To-Drink Meal Replacement Drinks, which frequently provide a useful balance of carbohydrates and protein, adding to the market's rapid expansion.
 
•  The Vanilla Flavour Leading the Market
According to the Meal Replacement Drinks Market forecast, Vanilla Flavour held the largest market valuation of $6 billion in 2023. Vanilla flavor has been a popular choice among meal replacement drink consumers due to its pleasant taste and versatility. These products aim to provide a balanced nutritional profile while delivering the desired vanilla flavor. With its creamy and sweet notes, vanilla enhanced the overall taste experience, making it an appealing option for those seeking a convenient and delicious meal replacement solution. As a result, the vanilla flavor meal replacement drinks market has gained demand.
For instance, according to the United Nations' Comtrade database on global commerce, India exported vanilla beans to Italy for US$14.03 thousand in 2022. This trade transaction signifies India's contribution to meeting the demand for top-tier vanilla beans, bolstering its market presence and economic value.
 
•  Weight Management and Healthy Lifestyle
Meal replacement drinks have become a popular choice for weight management due to their controlled portion of calories and balanced mix of essential nutrients. With the added benefits of convenience, customization, and healthy ingredients, these drinks cater to the needs of individuals with busy schedules and specific health goals.
According to the UK government, 40% of all adults enrolled in adult weight management programs from April 2021 to December 2022 lost weight by the end of their service when compared to their starting weight. This positive outcome has contributed to the growth of the meal replacement drinks market, as people seek convenient and healthy options to support their weight loss goals. With a focus on promoting a healthy lifestyle, these drinks have become a popular choice for individuals aiming to manage their weight effectively.
 
•  Regulatory Compliance Hamper the Market Growth
The problems of the meal replacement drink market include managing complex standards for labeling, health claims, and ingredient sourcing. Complying with these tight rules necessitates significant time and financial resources, providing a significant barrier for businesses attempting to enter or expand within this competitive field.
 
Meal Replacement Drinks Market Share (%) By Region, 2023

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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Meal Replacement Drinks Market. The top 10 companies in this industry are listed below:

  1. Soylent Nutrition, Inc

  2. Nestlé

  3. MyDrink Beverages

  4. Abbott

  5. Herbalife International of America, Inc

  6. Kellogg Company

  7. Huel, Inc.

  8. USANA Health Sciences Inc.

  9. Ample Foods

  10. Ripple foods

 
Scope of the Report: 
 
Report Metric Details

Base Year Considered

2023

Forecast Period

2024-2031

CAGR

7.5%

Market Size in 2031

$20 billion

Segments Covered

By Flavor, Ingredient Type, Packaging Type, Sales Channel and Region

 

 

 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

 

 

 

 

 

Key Market Players

  1. Soylent Nutrition, Inc

  2. Nestlé

  3. MyDrink Beverages

  4. Abbott

  5. Herbalife International of America, Inc

  6. Kellogg Company

  7. Huel, Inc.

  8. USANA Health Sciences Inc.

  9. Ample Foods

  10. Ripple foods
 
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1. Meal Replacement Drinks Market - Overview
    1.1. Definitions and Scope
2. Meal Replacement Drinks Market - Executive Summary
3. Meal Replacement Drinks Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. Meal Replacement Drinks Market - Start-up Companies Scenario 
4.1. Key Start-up Company Analysis by
    4.1.1. Investment
    4.1.2. Revenue
    4.1.3. Venture Capital and Funding Scenario
5. Meal Replacement Drinks Market – Market Entry Scenario Premium
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Meal Replacement Drinks Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Meal Replacement Drinks Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. Meal Replacement Drinks Market – by Flavor (Market Size – $Million/$Billion) 
    8.1. Vanilla
    8.2. Chocolate
    8.3. Strawberry 
    8.4. Banana
    8.5. Coffee
    8.6. Berry
    8.7. Tropical Nutty 
    8.8. Others
9. Meal Replacement Drinks Market – by Ingredient Type (Market Size – $Million/$Billion) 
    9.1. Protein-based Meal Replacement Drinks
    9.2. Carbohydrate-based Meal Replacement Drinks
    9.3. Fat-based Meal Replacement Drinks
    9.4. Vitamins and Minerals-based Meal Replacement Drinks
    9.5. Fiber-based Meal Replacement Drinks
    9.6. Others
10. Meal Replacement Drinks Market – by Components (Market Size – $Million/$Billion)
    10.1. Polyvinyl Chloride Resins
    10.2. Plasticizers
    10.3. Trace Stabilizers
    10.4. Pigments
    10.5. Others
11. Meal Replacement Drinks Market – by Packaging Type (Market Size – $Million/$Billion) 
    11.1. Bottles
    11.2. Tetra Packs
    11.3. Pouches
    11.4. Single Serve Packets
    11.5. Others
12. Meal Replacement Drinks Market – by Sales Channel (Market Size – $Million/$Billion) 
    12.1. Online Channels
    12.2. Convenience Stores
    12.3. Hypermarkets/Supermarkets
    12.4. Drug Stores & Pharmacies 
    12.5. Others
13. Meal Replacement Drinks Market – by Geography (Market Size – $Million/$Billion) 
    13.1. North America
        13.1.1. The U.S.
        13.1.2. Canada
        13.1.3. Mexico
    13.2. Europe
        13.2.1. UK
        13.2.2. Germany
        13.2.3. France
        13.2.4. Italy
        13.2.5. Spain
        13.2.6. Russia
        13.2.7. Rest of Europe
    13.3. Asia-Pacific
        13.3.1. China
        13.3.2. India
        13.3.3. Japan
        13.3.4. South Korea
        13.3.5. Australia & New Zealand
        13.3.6. Rest of Asia-Pacific
    13.4. South America
        13.4.1. Brazil
        13.4.2. Argentina
        13.4.3. Chile
        13.4.4. Colombia
        13.4.5. Rest of South America
    13.5. Rest of the World
        13.5.1. Middle East
        13.5.2. Africa
14.  Meal Replacement Drinks Market – Entropy
15. Meal Replacement Drinks Market – Industry/Segment Competition Landscape 
        15.1. Market Share Analysis
             15.1.1. Market Share by Product Type – Key Companies
            15.1.2. Market Share by Region – Key Companies
            15.1.3. Market Share by Country – Key Companies
        15.2. Competition Matrix
        15.3. Best Practices for Companies
16. Meal Replacement Drinks Market – Key Company List by Country Premium 
17. Meal Replacement Drinks Market - Company Analysis
         17.1. Soylent Nutrition, Inc.
         17.2. Nestlé 
         17.3. MyDrink Beverages
         17.4. Abbott
         17.5. Herbalife International of America, Inc.
         17.6. Kellogg Company 
         17.7. Huel, Inc.
         17.8. USANA Health Sciences Inc.
        17.9. Ample Foods
        17.10. Ripple foods
 
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What is the growth rate of the Meal Replacement Drinks Market during the forecast period?

Global Meal Replacement Drinks Market size is estimated to be $13 billion in 2023 and is projected to reach $20 billion by 2031.

The leading players in the Meal Replacement Drinks Market are Mohawk Industries Inc., Tarkett S.A., Armstrong World Industries Inc., Shaw Industries Inc., Mannington Mills Inc. and others.

The meal replacement drinks market is expected to grow in the future due to several factors, including the increasing prevalence of obesity and other chronic diseases, the growing demand for convenient and healthy food options, and the increasing awareness of the importance of good nutrition.

The driving factors in the Meal Replacement Drinks market include the growing demand for convenient and time-saving nutrition and the rise in busy lifestyles.