According to the recent research report titled ‘Global Meal Replacement Products Market Size study, by Type (Powder, Ready to Drink and Protein Bar), by Distribution Channel (Online and Offline) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global meal replacement products market value stood at USD 11 billion in 2020 and is projected to record 7.64% CAGR over 2021-2027, subsequently amassing USD 18.42 billion by end of the assessment period.
 

Global meal replacement products market growth is primarily driven by increasing prevalence of obesity. For instance, in the U.S. alone, obesity prevalence among individuals over the age of 20 has increased from 30.6% in 2016 to 31.7% in 2018, as cited by credible sources. Besides, rising popularity of weight management regimens is adding considerable traction to the industry growth.
 

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For the uninitiated, food and beverage items used as a substitute for solid meals are known as meal replacement products. These goods provide the body with needed nourishment.
 

Notably, increasing number of new launches by major market players is also influencing the industry dynamics. Arla Food Components, for instance, introduced three new meal replacement solutions in June 2021 with a spectrum of whey protein and micellar casein ingredients for protein shakes, ready-to-drink brews, and high protein bars. Similar moves by other organizations in the vertical is projected to augment the industry value in the coming years.
 

Furthermore, rising consumer awareness of healthy food products, growing prevalence of chronic disorders like hypertension, diabetes, cardiovascular disease, and others, as well as hectic lifestyles, are likely to enhance worldwide meal replacement products market scope in the ensuing years.
 

Despite the positive outlook, the presence of a significant number of substitute sources of nourishment is anticipated to stifle market expansion during the projection period.
 

Elaborating on regional terrain, Asia Pacific is the world's leading region in terms of market share and is expected to amass significant returns by the year 2027, due to a spike in customer demand for health-conscious products, improved e-commerce coverage, and presence of large target base in the region.
 

Leading companies impacting global meal replacement products industry trends are Healthy 'N Fit International Inc., Bob's Red Mill Natural Foods, General Mills Inc., Glanbia plc, Blue Diamond Growers, SlimFast, Herbalife International of America Inc., Nestlé S.A., Abbott Laboratories, and Soylent.