October 24, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Meal Replacement Market - Analysis By Type (Ready to Drink, Edible Bars, Powdered Products, Others), By Distribution Channel: Trends, Opportunities and Forecast (2019-2024)’, the worldwide meal replacement market is presumed to grow with a CAGR of 7.36% by the year 2024.
Meal replacement market is highly influenced by growing cases of diabetes, busy lifestyles, and obesity, wherein meal replacement products are the best alternative for irregular meals. Increasing consumer awareness regarding e-commerce platforms and easy access to retail stores will boost the growth of meal replacement market.
Growing demand for nutritious and healthy food, coupled with greater spending power is fueling the meal replacement market. Moreover, rising working population and increasing demand for on-the-go meal due to hectic lifestyle is anticipated to propel the market growth in the forthcoming years.
The report provides a comprehensive insight about the trends, drivers, challenges, and opportunities impacting the market growth. Details encompassing market valuation, segmental shares, and revenue trends for various manufacturers are given.
As per the report, meal replacement market is studied on the basis of product type, distribution channel, and geographical landscape. Based on the product type, the market is segmented as powdered products, ready-to-drink, edible bars, and others.
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Speaking of distribution channel, the market is categorized as convenience stores, specialty stores, supermarkets or hypermarkets, online channel, and others. While considering the geographical landscape, the global meal replacement market is divided into four main regions which are North America, Europe, Asia pacific, and rest of the world. Furthermore, the countries analyzed for market trends are United States, China, France, and UK.
The prominent companies operating in meal replacement market include Unilever & Conagra Brands, Abbott Laboratories, GlaxoSmithKline plc (GSK), and Herbalife Nutrition Ltd.
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