The globalmeal replacement marketis projected to reach USD 15.4 billion by 2026, growing at a CAGR of 5.4% between 2021 and 2026. The market for meal replacement was to be valued at USD 11.8 billion by 2021. Globally, chronic diseases pose a serious threat to public health. The UN report suggests that the percentage of chronic disease-related mortality in the total number of deaths worldwide is predicted to rise to 70% and represent 56% of the global disease burden by 2030. Maintaining a healthy weight, exercising regularly, and eating a balanced diet are major aspects of a healthy lifestyle that may reduce the chance of developing chronic diseases by as much as 80%. Thus, individual and group consumers are making small but achievable changes to lifestyle behaviors to ensure good health. Consuming meal replacements to meet nutritional needs is one such behavior change. Meal replacements are substitutes for meals that offer a complete range of balanced and sufficient nutrients to meet daily dietary requirements. Prioritizing healthy lifestyle choices and adopting health-promoting diets are expected to increase the consumption of meal replacements and consequent market expansion.
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The emergence of plant-based and vegan meal replacement products
Meal replacements made from vegan ingredients are stocked with plant protein, fiber, good fats, and vital vitamins and minerals. A new breed of fluid meals called vegan meal replacements can perfectly substitute regular food. Some meal replacements come in single-serving bottles that are ready-to-eat (drink), making them a fantastic alternative for food on-the-go, while others are available as a powder that can be combined with milk or water to produce a shake. They are delicious and nutrient-dense. Specifically designed for patients and athletes, the US-based Vejii Holdings launched a plant-based meal replacement called Heal in 2021 that includes plant-based protein, powdered fruits and vegetables, anti-inflammatory superfood extracts, probiotics, and prebiotics.
Misinterpretation of protein shakes for meal replacement shakes
Consumers are often perplexed by the concepts of protein shakes, and meal replacement shakes and considers them synonymous. It acts as a challenge in the growth of the meal replacement market. Protein shakes are beverages that have protein as the primary ingredient. It could be whey protein, plant-based protein made from hemp, peas, rice, soy, or a combination of grains, or it could be both. They often contain fewer other macronutrients and lower fat and carbohydrate levels. Protein shakes are designed to fulfill only the body's protein requirements and are usually consumed after an intense workout. Contrarily, a meal replacement shake is a beverage that includes vitamins, minerals, carbohydrates, fats, and protein. They can be used to substitute a whole meal for breakfast, lunch, or dinner and have the potential to meet all the nutritional requirements. They also aid in weight loss, wound healing, and recovery from illnesses.
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North America dominated the meal replacement market and is projected to grow with a CAGR of 4.6% during the forecast period (2021- 2026)
North America accounted for the largest market share and is expected to grow at a CAGR of 4.6% during the forecast period. CDC suggests that chronic diseases, such as diabetes, cancer, heart disease, and stroke, affect six out of ten Americans. Chronic illnesses are the main contributors to health care costs as well as the major causes of death and disability in the United States.
Dietary Guidelines for Americans (Dietary Guidelines), provided by the US health department, offer recommendations to satisfy nutrient requirements, advance health and fend off diseases The Dietary Guidelines are updated and published every five years by the US Departments of Health and Human Services (HHS) and Agriculture (USDA). The presence of health policies focusing on healthy eating and improved lifestyle choices, together with the willingness of consumers to spend on meal replacement products, contribute to the larger share of the US.
