Meal Replacement Market to reach USD 22.01 billion by 2032 - Coherent Market Insights

The global meal replacement market is expected to be valued at USD 14.82 billion in 2025. It is predicted to touch a USD 22.01 billion valuation by 2032, exhibiting a CAGR of 5.8% during the forecast period (2025-2032).  

Changing lifestyles of consumers and healthy conscious attitudes are the main drivers of the global market growth. Meal replacements are satiating the nutritional needs of various types of consumers. Companies are launching various products aimed at people undertaking weight loss journeys and focusing on becoming healthy.

Key Market Insights

The meal replacement market growth is expected to soar during the forecast period owing to the benefits of meal replacement shakes and the rise of health & beauty wellness chains. The obsession of consumers with high-protein and low-carbohydrate meals and weight management are likely to drive demand during the forecast period.

• By product type, powdered products segment is expected to capture a 46.1% share of the meal replacement market in 2025. The ability of powdered meal replacements to provide nutrition to consumers without refrigeration or a mixture of special ingredients can drive the overall segment growth. The long shelf life and ease of use features of powdered meal replacement products can contribute to its worldwide demand over the forecast period.
• By distribution channel, hypermarkets/supermarkets are expected to capture 47.1% market share in 2025. Hypermarkets/supermarkets are a one-stop shopping destination for most adults and store meal replacement products providing awareness to new health enthusiasts.
• In terms of region, North America is expected to lead the meal replacement market with a 42.6% market share in 2025. The vast working adult population and their disposable income levels make the region highly lucrative for market leaders. Furthermore, growing demand for meal replacement products and increasing wellness trend among its consumers can augur favorably for the global market.

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Meal replacement market Report Coverage

Market Dynamics

The meal replacement market growth is driven by the demand for calorie control by a large number of consumers. Meal replacement products such as bars, shakes, powders, and ready-to-eat liquids are being consumed by consumers on their weight loss journeys. For instance, Hims & Hers, a health & wellness company in the U.S., added meal replacement bars and shakes for their customers on their weight loss journeys in November 2024. The platform aims to provide its consumers with a consistent calorie intake and maintain their nutrition.

The changing attitudes towards food as well as awareness of nutritional intake by consumers will likely drive the demand for meal replacement products over the forecast period. Innovations in flavors and formulations and the launch of new products during changing seasons are strategies followed by market leaders. This is evident by the launch of meal replacement drinks by Arla, a Danish-Swedish multinational dairy company, in England and the Netherlands in September 2024.

Market Opportunities

Growing Trend of Grab-and-Go Nutritious Meals

Grab-and-go nutritious meals are likely to face increasing demand owing to the need for easy-to-consume meals. Young adults in South Africa are consuming meal replacement products as a cost-effective method to maintain their lifestyle. The changing eating habits and the influence of social media on young adults can drive this trend in the meal replacement market. The efforts in packaging by brands like Huel and endorsements by celebrities like Mr. Idris Elba can encourage young consumers in adopting meal replacement products as part of their diet.

Market Challenges

Changing Consumer Preferences

Consumers are preferring homemade meals over packaged foods. It has created a hurdle for market leaders looking to enter a highly competitive healthy foods market. The entry of new players with new formulations as well as retention of existing consumers is a challenge faced by players in the meal replacement market. For instance, Soylent needs to have a long-term optimization plan to retain their subscriptions and offer discounts to annual plans.

Analyst’s View

“The meal replacement market is set for a healthy growth rate during the forecast period owing to health-conscious consumers and adoption of meal replacement products for a healthier lifestyle.”, quips Mr. Yash Doshi, a senior management consultant working in Coherent Market Insights.

“North America is currently leading the global market due to the adoption of healthy eating habits. Extensive research and development are being undertaken by companies to improve the taste and texture of products for enticing consumers. Local flavors catering to regional markets can assist market leaders in gaining access to new regions.”

Recent Developments

Soylent, the U.S. based nutrition company, launched two seasonal flavors for its meal replacement shakes, namely pumpkin spice and gingerbread, in September 2024, for a limited period till the end of 2024.

Competitor Insights

• Wild Oats Markets
• Kellogg Co.
• Usana Health Sciences Inc.
• Herbalife Nutrition
• Amway
• Unilever
• Glanbia Plc
• Laboratoire PYC
• Nestle
• Slimfast
• Soylent
• Blue Diamond Growers
• Abbott Laboratories
• Nu Skin Enterprises Inc.
• Kisan Products
• Zoic Pharmaceuticals
• Bariatrix Europe
• Atkins
• General Mills

Market Segmentation

• Product Type
• Ready-to-drink Products
• Nutritional Bars
• Powdered Products
• Other Product Types
• Distribution Channel
• Convenience Stores
• Specialty Stores
• Online Retailers
• Hypermarkets/Supermarkets
• Other Distribution Channels

Regional Insights

• North America
  • U.S.
  • Canada
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America
• Europe
  • Italy
  • Germany
  • U.K.
  • Spain
  • France
  • Russia
  • Rest of Europe
• Asia Pacific
  • South Korea
  • India
  • Japan
  • China
  • Australia
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC Countries
  • Israel
  • Rest of Middle East & Africa