July 14, 2020
According to the research report titled ‘Global Meal Replacement Market - Analysis By Type , By Distribution Channel: Trends, Opportunities and Forecast (2019-2024)’, available with Market Study Report LLC, global meal replacement market is expected to witness at a CAGR of 7.36% during 2019-2024.
Global meal replacement market has been experiencing significant growth over the recent years owing to the factors such as growing urban and working population, rising per capita income, and increasing number of elderly people. Surging demand for healthy and nutrition-rich food is also driving the market growth. Consumer inclination towards on-the-go meal owing to the rising adoption of hectic lifestyle is further aiding the expansion of meal replacement market.
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Based on the type, the market is divided into powdered products, edible bars, ready-to-drink, and others.
With respect to the distribution channel, global meal replacement market is segmented into online channel, specialty stores, convenience stores, hypermarket/supermarket, and others.
As per the regional overview, the market is divided into North America, Europe, Asia-Pacific, and Rest of the World. The report states that US held the largest share in global meal replacement market in the year 2018 and is predicted to expand significantly during the analysis timeframe.
The report provides statistics and information regarding the growth factors, size & share as well as the potential of global meal replacement market. The study offers strategies for new entrants and various companies around the globe. The document also delivers market intelligence and helps the decision makers. Also, the report identifies and highlights the emerging trends, key challenges, major drivers, and growth opportunities impacting the expansion of global meal replacement market.
The key players in the global meal replacement market are Abbott Laboratories, GlaxoSmithKline plc (GSK), Herbalife Nutrition Ltd., Unilever, and Conagra Brands Inc. among others.