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Global Meal Replacement Market 2022 – Detailed Analysis Of Current Industry Demand with Forecasts Growth by 2028

Meal replacement is a nutritious supplement and are easy to use and store.

NEWARK, UNITED STATES, June 10, 2022 / — The Brainy Insights 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 is expected to drive the market for meal replacements as they are ready-to-eat meals that can be eaten to get rid of hunger instantly. Rising awareness among consumers for a healthy meal is expected to drive market growth.

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The powder segment dominated the market with a market value of around 5.2 billion in 2021.
The product type segment is divided into ready-to-drink, bars & powder. The powder segment dominated the market with a market value of around 5.2 billion in 2021. The powder meal replacements are easy to use and store which makes it a convenient drink for replacing regular meals. It is also highly used in weight loss diets and has several nutritional values.

The offline segment is expected to grow at the fastest CAGR of 7.2% over the forecast period.
The distribution channel segment is divided into the online and offline segments. Over the forecast period, the offline segment is expected to grow at the fastest CAGR of 7.2%. There is huge network for offline distribution which boosts the growth of the market. The manufacturers decide where their products must be kept in the store so that it gets the attention of the customer easily, because of this strategic placement of products in offline stores the market is expected to witness the highest market growth.

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Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and the 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 been expanding rapidly. Asia Pacific region has the highest obesity rates in the world, however on the contrary to this, a large population in the Asia Pacific is health and fitness conscious and is opting for a healthy diet for a healthy life. The trend for weight management in Australia is boosting the growth of the market in Australia.

Global Meal Replacement Market by Product Type:
• Ready-to-Drink Bars
• Powder
Global Meal Replacement Market by Distribution Channel:
• Online
• Offline

Competitive Analysis:
The major players of the market 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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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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