South America 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 | 6.11 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Meal Replacement Products Market Analysis
South America meal replacement products market is projected to grow with a CAGR of 6.11% during the forecast period (2020 - 2025).
- With increasing awareness about a healthy diet among the consumers across the region, nutritional bars have become immensely popular, replacing chocolates, cakes, and biscuits as convenient options to the consumers. Key players operating in the market studied are continuously differentiating their products in terms of flavors, ingredients, size, and packaging, in order to gain competitive advantage.
- Moreover, the dominance of meal replacement options in South America is enabling on-the-go snacks product brands to launch price-friendly options, thereby, expanding the product reach is comparatively nascent markets of the region, such as Peru, Chile, Venezuela, etc.
- Furthermore, the support of the government further drives the market. Argentina's government increased its budget by 50% around USD 184 million for public food and nutrition policies by the end of 2019 with an effort to drive financial support to the food programs in the country. The following measure is expected to have a positive impact on the demand for meal replacement products in the country.
South America Meal Replacement Products Market Trends
This section covers the major market trends shaping the South America Meal Replacement Products Market according to our research experts:
Nutritional Bars Continue to Dominate the Market Share
The South America meal replacement market is driven by the increasing popularity of high-quality premium snacking options, especially among the affluent class. However, nutritional bars that are considered as a high-nutrient profile meal replacements still continue to move into the mainstream packaged food and meal replacement product in the country and show its domination. Growth of nutritional bars is projected to be supported not only by demand from the more traditional customer base of athletes, serious gym-goers, and body-builders but also by expanding usage amongst average consumers. As the consumer demand for convenient and healthy meal replacement options is growing and it is considered to be a primary attribute for sales of edible bars in South America.
Brazil is the Largest Market in the Region
In Brazil, consumers more than ever are paying attention to the type of products and supplements they are consuming for health and wellbeing. The health and wellness trend can be expected to remain the most important influence on developments in meal replacement products in Brazil. Owing to this factor, it is pushing the sales of nutritional bars in the country, as Brazilians want to have snacks that are not only low in added sugar but also offer clear health benefits. Therefore, in protein bars, the trend toward high-protein diets and sports nutrition may continue to underpin remarkable sales growth of meal replacement products during the forecast period. Moreover, the trend toward gluten-free and low-sodium claims is also fetching increasing popularity in the Brazilian meal replacement bar market.
South America Meal Replacement Products Industry Overview
The South America meal replacement products market is projected to witness an upsurge in the forecast period, owing to rising consumer awareness about the products and the entrants of various leading players such as Amway, Herbalife, Glanbia PLC and others. Product launch and expansion are the most preferred strategy by the players operating in the market. The global players are also expanding their business in the region seeking growth opportunities, thus, driving the market studied.
South America Meal Replacement Products Market Leaders
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Amway GmbH
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Herballife Nutrition
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Bob鈥檚 Red Mill Natural Foods
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Glanbia PLC
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Alpina SA
*Disclaimer: Major Players sorted in no particular order
South America 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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3.1 Market Overview
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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 Others
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5.2 By Distribution Channel
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5.2.1 Supermarkets/Hypermarkets
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5.2.2 Online Stores
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5.2.3 Convenience Stores
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5.2.4 Specialty Stores
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5.2.5 Others
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5.3 Geography
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5.3.1 Brazil
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5.3.2 Argentina
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5.3.3 Rest of South 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 Share Analysis
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6.4 Company Profiles
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6.4.1 Amway GmbH
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6.4.2 Herballife Nutrition
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6.4.3 Bob's Red Mill Natural Foods
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6.4.4 Glanbia PLC
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6.4.5 Alpina SA
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6.4.6 Quest Nutrition, LLC
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6.4.7 biO2 Organic Comercio de Alimentos Ltda
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6.4.8 Probiotica Supplements
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Meal Replacement Products Industry Segmentation
The South America meal replacement market is segmented by product type, distribution channel, and geography. By product type, the market studied is segmented into ready-to-drink products, nutritional bars, powdered supplements, and other product types. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, online stores, convenience stores, specialty stores, and other distribution channels. Furthermore, the report takes into consideration the market for meal replacement products in established and emerging countries of South America including Brazil, Argentina and rest of South America.
| By Product Type | |
| Ready-to-Drink Products | |
| Nutritional Bars | |
| Powdered Supplements | |
| Others |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Online Stores | |
| Convenience Stores | |
| Specialty Stores | |
| Others |
| Geography | |
| Brazil | |
| Argentina | |
| Rest of South America |
South America Meal Replacement Products Market Research FAQs
What is the current South America Meal Replacement Products Market size?
The South America Meal Replacement Products Market is projected to register a CAGR of 6.11% during the forecast period (2024-2029)
Who are the key players in South America Meal Replacement Products Market?
Amway GmbH, Herballife Nutrition, Bob鈥檚 Red Mill Natural Foods, Glanbia PLC and Alpina SA are the major companies operating in the South America Meal Replacement Products Market.
What years does this South America Meal Replacement Products Market cover?
The report covers the South America Meal Replacement Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Meal Replacement Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Meal Replacement Products Industry Report
Statistics for the 2024 South America Meal Replacement Products market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. South America Meal Replacement Products analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
