According to the business intelligence 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 was assessed at USD 11 billion in 2020 and is anticipated to amass USD 18.42 billion by 2027, expanding at 7.64% CAGR between 2021-2027.
 

Increasing incidence of obesity coupled with growing popularity of weight management plans are the key factors driving for the expansion of global meal replacement products market. As per Statista, obesity among adults aged above 20 years has risen from 30.6% in 2016 to 31.7% in 2018.
 

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For the unaware, meal replacement products can be consumed as an alternative for normal meals. These products contain the essential nutrition required by the human body.
 

Strategic moves deployed by leading companies to enlarge profit margins will facilitate revenue inflow as well. In 2021 for instance, Arla Ingredients S.A. rolled out three new solutions for meal replacement products containing whey protein and a range of micellar casein ingredients for protein shakes, high protein bars, and ready-to-drink beverages.
 

While hectic lifestyle and growing incidence of chronic diseases will stimulate industry growth, easy availability of substitutes will act as a challenge for businesses operating in this domain.
 

Based on product gamut, global meal replacement products industry is split into powder, protein bar, and ready to drink. Speaking of distribution channel, the business sphere is bifurcated into offline, and online.
 

From the regional frame of reference, Asia Pacific held majority of global meal replacement products market share in the past year and is estimated to grow rapidly between 2021-2027. Large consumer base, growing consumer inclination towards healthy products, and expanding e-commerce coverage are the factors credited for this regional market growth.
 

Leading players formulating the competitive landscape worldwide meal replacement products market are Soylent Co., SlimFast (Glanbia plc), Abbott Laboratories, Nestlé S.A., Blue Diamond Growers, Herbalife Nutrition Limited, Glanbia plc, General Mills Inc., Healthy 'N Fit International Inc., and Bob's Red Mill Natural Foods Inc.