The meal replacement shake market is experiencing significant growth, proceeding toward a valuation of USD 5,189.6 million in 2024, surpassing the previous year's figures. Over the last decade, the market has demonstrated a modest upward trend and is set to maintain its uptrend, recording a CAGR of 5.7% through 2034.
By 2034 the value of the market is projected to have slingshotted to USD 9,035.8 million. The growth is helped along by health-conscious consumers increasingly looking at these shakes as a convenient and nutritious option.
Meal Replacement Shake Market Highlights
| Attributes | Details |
|---|---|
| Meal Replacement Shake Market Value for 2024 | USD 5,189.6 million |
| Projected Market Value for 2034 | USD 9,035.8 million |
| Value-based CAGR of Market for 2024 to 2034 | 5.7% |
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Powder meal replacement shakes dominate in the form segment. The online revolution has affected this market too as the majority of the sale of these shakes is through online means.
Powdered meal replacement shakes are suggested to account for 53.6% of the market share by form in 2024. Convenience plays a crucial role in determining the pole position of powdered shakes. Fitness enthusiasts prefer their shakes in powder form as it becomes easier to carry them along.
The new generation is inclining toward powder form products like protein powders. Sports and gyms are promoting meal options that are ready-to-drink, and these shakes perfectly fit the bill.
| Attributes | Details |
|---|---|
| By Form | Powder |
| Market Share (2024) | 53.6% |
Online retail is projected to account for 26.1% of the market share by distribution channel in 2024. The meal replacement sector has been impacted positively by the advent of online sales channels and meal replacement shake sales are also thriving due to online means.
The online retail distribution channel is likely to dominate the meal replacement shake market, with a rise in internet penetration and consumer acceptance of eCommerce websites. Providers are further motivated to launch their products on online portals to garner more market share since consumers prefer ordering products from the comfort and convenience of their homes.
| Attributes | Details |
|---|---|
| Distribution Channel | Online Retail |
| Market Share (2024) | 26.5% |
It is estimated that North America is going to constitute the key revenue share in 2024, and in that particular region, the United States has taken the leading position. The local players in the market are showcasing low-calorie and healthy shakes, keeping consumer needs in mind. These shakes offer a wide range of functionalities. The manufacturers are focusing on the organic option to make them healthy in addition to convenient.
The Asian Pacific eCommerce sector is also becoming lucrative for the meal replacement shake market, especially concerning countries like India, China, Japan, Malaysia, and Thailand. Due to cheap labor and raw materials, international companies are setting up industrial units in these countries.
Small-scale companies are also leveraging emerging segments like non-GMO, sugar-free, soy-free, gluten-free, and vegan products. The market in Asia Pacific is anticipated to benefit from high demand for on-the-go food products, Western dietary influences, and changing consumer preferences.
| Countries | CAGR (2024 to 2034) |
|---|---|
| United State | 3.1% |
| Germany | 5.5% |
| China | 6.3% |
| Japan | 7.3% |
| India | 8.1% |
The United States is set to see the market expand at a CAGR of 3.1% over the forecast period. Some of the factors driving the growth of the market in the United States are:
The market is set to progress at a CAGR of 5.5% in Germany during the forecast period. Factors prompting the growth of the market in Germany include:
The market is predicted to register a CAGR of 6.3% in China during the estimated period. Some of the factors aiding the dynamic growth of the market in China are:
The market is in line to register a CAGR of 7.3% in Japan over the projected period. Some reasons for growth in Japan are outlined below:
With an anticipated CAGR of 8.1% over the ensuing decade, India is set to be one of the most fertile countries for the industry. Some specific reasons for industry growth are:
The meal replacement shake market is extremely competitive, with the presence of major players accounting for a significant share. Market players have implemented numerous developmental strategies to amplify their market share, quite apart from increasing profitability, to remain competitive in the market.
Most of the market players are getting involved in research and development. On the other hand, these players are establishing better distribution networks, developing novel product lines, and coming up with new advertising campaigns.
Multiple industries in the market are concentrating on leveraging the opportunities offered by emerging segments like sugar-free, vegan, gluten-free, soy-free, and non-GMO products. Companies have entered the market with ready-to-drink shakes manufactured with calorie-restricted, plant-based ingredients. Such competitive factors are estimated to drive market growth.
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The meal replacement shake market is estimated to be USD 5,189.6 million in 2024.
Nouveau Medicament (P) Ltd., Futricio, Organic, Inc., Saturo Food GmbH, Healthy Natural Solutions, Medisys Biotech Pvt. Ltd., Abbott Laboratories, Nutrition and Santé SAS, Perrigo Company Plc., Trinkkost GmbH, Damhert Nutrition.
The market is expected to reach a valuation of USD 9,035.8 million by 2034.
The market is expected to progress at a sturdy CAGR of 5.7% from 2024 to 2034.
The market is predicted to progress at a CAGR of 3.1% in the United States from 2024 to 2034.
The market is predicted to progress at a CAGR of 6.3% in China from 2024 to 2034.
| Estimated Size (2024E) | USD 14.1 billion |
|---|---|
| Projected Value (2034F) | USD 23.12 billion |
| Value-based CAGR (2024 to 2034) | 6.4% |
| Market Expected Size (2022E) | USD 11.8 Billion |
|---|---|
| Market Projected Size (2032F) | USD 25.6 Billion |
| Value CAGR (2022 to 2032) | 8.05%CAGR |
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Meal Replacement Shake Market
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