NA Meal Replacement Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.16 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
NA Meal Replacement Products Market Analysis
North America meal replacement products market is projected to witness a CAGR of 8.16% during the forecast period (2020 - 2025).
- The on-the-go lifestyle in the United States marketplace, have necessitated consumers to opt for convenient and portion-controlled snack bars and other ready to eat products that are increasingly perceived as ideal meal replacement options, especially among the working consumers.
- Meal replacement products seem to appeal to the Canadians such that among the resident and expat consumers, who want to include healthy food in their diets. Ready-to-drink beverages and nutritional bars are also garnering attention in the meal replacement products range, as busy families are seeking healthy and convenient options for hunger satisfaction.
NA Meal Replacement Products Market Trends
This section covers the major market trends shaping the North America Meal Replacement Market according to our research experts:
American Consumers Opting for Special Diets Strive on Meal Replacements
Owing to the rising prevalence of obesity and diabetes among Americans, consumers are rigorously monitoring their regular diets and nutrition intake, and they are increasingly inclining toward meal replacement products. There are numerous companies primarily dedicated to offer tailored meals, such as shakes and drinks, for people willing to cut regular diets to effectively lose weight.
For instance, Herbalife, a company based in the United States, features programs, such as Quickstart, Advanced and Ultimate, under which it offers meal replacement shakes and dietary supplements to help people slim down. As a result, many consumers looking for effective diet plans to lose weight or increase their metabolism are opting for such efficient plans, eventually supplementing the North American market growth.
Increasing Consumption of Meal Replacement in United States
The demand for the multi-purpose functionality and on-the-go convenience of meal replacement products, such as drinks, is increasing and are attracting the American consumers. In addition, the presence of retail outlets that are suitable for convenient foods to benefit from both planned and impulse purchases, poise advantage for the increase sale of meal replacement products in the country.
In the United States, the majority of consumers prefer nutritional bars and ready to drink products to satisfy hunger by replacing a meal. For instance, according to FoodBev Welch's survey conducted in 2017, around 92% of millennials were reported consuming snacks (including nutritional bars) as a meal replacement at least once a week. Additionally, around 26% of the millennial population in the United States consume snacks as a meal replacement, therefore driving the market further.
NA Meal Replacement Products Industry Overview
The companies operating in the North America meal replacement products market are focusing on adopting various strategies, such as product development, expansion, etc., on achieving competitive advantage in the market. Some of the prominent players operating in the North American market are Abbott Laboratories, Amway Corp. (Alticor), Nu Skin Enterprises Inc., and Herbalife Nutrition.
Companies in the region are also actively innovating new products in order to maintain their position in the market. For instance, in 2019, Soylent, a well-known meal replacement producer in the United States, launched a strawberry four-pack drink in order to bring new items to consumers, allowing them to engage with its brand in new ways.
NA Meal Replacement Products Market Leaders
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Abbott Laboratories
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Amway Corp. (Alticor)
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Herbalife Nutrition
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Glanbia plc
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Nestle SA
*Disclaimer: Major Players sorted in no particular order
NA Meal Replacement Products Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Ready-to-drink Products
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5.1.2 Nutritional Bars
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5.1.3 Powdered Supplements
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5.1.4 Other Product Types
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5.2 By Distribution Channel
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5.2.1 Convenience Stores
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5.2.2 Supermarkets/Hypermarkets
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5.2.3 Specialty Stores
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5.2.4 Online Stores
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5.2.5 Other Distribution Channels
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5.3 By Country
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5.3.1 United States
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5.3.2 Cananda
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Positioning of the Players
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6.4 Company Profiles
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6.4.1 Abbott Laboratories
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6.4.2 Amway Corp. (Alticor)
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6.4.3 Nu Skin Enterprises Inc.
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6.4.4 Herbalife Nutrition
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6.4.5 Glanbia plc
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6.4.6 The Simply Good Foods Company
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6.4.7 The Kellogg Company
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6.4.8 Nestle SA
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
NA Meal Replacement Products Industry Segmentation
The North America meal replacement products market is segmented by product type into, ready-to-drink products, nutritional bars, powdered supplements, and other product types. By distribution channel the market studied is segmented into, convenience stores, hypermarkets/supermarkets, specialty stores, online stores, and other distribution channels. By country, the market is segmented into United, States, Cananda, Mexico, and Rest of North America.
| By Product Type | |
| Ready-to-drink Products | |
| Nutritional Bars | |
| Powdered Supplements | |
| Other Product Types |
| By Distribution Channel | |
| Convenience Stores | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Country | |
| United States | |
| Cananda | |
| Mexico | |
| Rest of North America |
NA Meal Replacement Products Market Research FAQs
What is the current North America Meal Products Replacement Market size?
The North America Meal Products Replacement Market is projected to register a CAGR of 8.16% during the forecast period (2024-2029)
Who are the key players in North America Meal Products Replacement Market?
Abbott Laboratories , Amway Corp. (Alticor) , Herbalife Nutrition , Glanbia plc and Nestle SA are the major companies operating in the North America Meal Products Replacement Market.
What years does this North America Meal Products Replacement Market cover?
The report covers the North America Meal Products Replacement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Meal Products Replacement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
NA Meal Replacement Products Industry Report
Statistics for the 2024 NA Meal Replacement Products market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. NA Meal Replacement Products analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
