WiseGuyReports.com adds “Global Meal Replacement Market – Analysis By Type, Trends, Opportunities and Forecast (2019-2024)” reports to its database.
PUNE, MAHARASTRA, INDIA, November 20, 2019 /EINPresswire.com/ — Meal Replacement Market:
Meal replacement refers to the drink or powdered product that contains the same nutrients as a substantial meal. The reliable food replacements are lighter in nature available in the form of protein powder, health shakes, and soup, etc. even if it is safe to consume, it should be taken in the prescribed quantity. The products are prepared to keep some significant factors in mind are quick preparation, a busy lifestyle, and the growing trend of weight loss, the fastest-growing population that tends to grow urbanization.
Usually, the replaced meals such as healthy shakes come with fewer amounts of calories and nutrients, which is widely used by bodybuilders as they typically eat more than five times a day. In recent times the market of meal replacement has witnessed a significant growth with the increasing urban area simultaneously with the working population. The manufacturing companies offering the products in the form of ready to drink products, on go meals, protein bars. According to the consumer's need, they make it available not only in retail shops or supermarkets but also at the online channels and specialist stores.
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The habit of consuming healthy food, health consciousness has reached economic growth up to some extent that has recorded the highest in recent years. In the forecast period of 2019-2024, it is expected to grow with a speed that will experience more profit and generate revenue more than the expectation. According to the survey report of 2015, the maximum number of shares held by Spain and Italy contains the minimum percentage of shares among all the European countries.
Meal Replacement market value is projected to display a robust growth represented by a CAGR of 7.36% by value during the period 2019–2024.
Company Analysis – Abbott Laboratories, Herbalife Nutrition Ltd., GlaxoSmithKline plc (GSK), Unilever & Conagra Brands.
Market Segments of Meal Replacement
The global market of meal replacement segmented depending upon its type includes ready to drink, protein powder, energy bars, and distribution channels include online channels, specialist stores, supermarkets, etc.
Ready to drink- it is the liquid form of solid meals that is available in ready to consume conditions. The drink available in packaged are iced tea, cold coffee, juice, soup, soft drinks.
Protein powder- it contains different vitamins for different age groups. It is the primary need for bodybuilding personnel.
Geographical Regions of The Meal Replacement Market
The geographical regions of the meal replacement market include China, Japan, South Korea, India, Indonesia, Singapore, Thailand, Malaysia, and rest countries of Southeast Asia from Asia-Pacific. The United States of America from North America.Countries of Central & South America. Germany, France, UK, Italy, Spain, Poland, and Russia from Europe. And Turkey, Egypt, South Africa, Saudi Arabia, United Arab Emirates, and GCC Countries from the Middle East & Africa.
The Global Market for meal replacement is expected to gain USD 20.6 billion by 2021 and growing at a Compound Annual Growth Rate (CAGR) of 6.9% and generate revenue of more than its expectations by the year 2019. The Global Market of meal replacement was recorded to be moving at a higher positive side in the year 2019. The market of America has been seen to be the largest consumer of meal replacement with the highest number of market share
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Source: EIN Presswire