The busy schedules along with hectic lifestyles of the populace across the globe has increased the preference amongst the consumers for ready-to-go drinks and anticipated the global meal replacement market. Owing to the growing popularity of ready-to-go drinks, leading players are engaged in expanding manufacturing of meal replacement shake along with the implementation of appropriate and effective marketing strategies to attract more stakeholders. Growing trends of globalization and urbanization in the majority of countries, consumers are being introduced to a variety of new flavors beverages, which ignites the urge for new tastes among them. Increasing disposable income and aspirational values of the younger consumers are triggering the demand for meal replacement shake across the globe.
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Convenient, Portable, Ready-to-go Characteristics of the Meal Replacement Shake Seeking Attention of Health Conscious Populace
Burgeoning demand for premium ready-to-go drinks is encouraging the manufacturers to invest in ramping up the production capacity for such segments. Extensive ready-to-use beverage in a variety of favorite flavors is expected to drive the global sales of meal replacement shake in the upcoming years. In order to meet the increasing consumer demand and gain a competitive edge, manufacturers are developing innovative combinations of meal replacement shake using various flavors.
Meal Replacement Shake Market Regional Outlook
The global market for the meal replacement shake is majorly occupied by the developed nations such as U.S., U.K., Canada, Australia, Germany, Switzerland, etc. due to the presence of many small and medium-sized players. However, the meal replacement shake market in these countries is stagnant, while the meal replacement shake demand has increased opportunity in the Asian and the Middle East & African countries and is expected to show highest growth rate over the forecast period. The raised middle-class population and increased middle-class income in these countries are expected to drive the market growth of meal replacement shake market.
Prevalence of Online Shopping Sites Increases the Variety of Meal Replacement Shake among Consumers
Rising use of modern technology and social sites is propelling the use of online shopping of meal replacement shake in the developed and developing countries. In developed countries, online sales of meal replacement shake has increased as compared to offline sales. Working mothers are a prominent area of focus for the e-commerce marketers in the ready-to-go beverages. The deal of meal replacement shake over the online shopping sites provides customers with a convenient option to purchase and choose from a wide variety of meal replacement shake in much lesser time and thus, act as a price differentiator for non-premium consumers.
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Significant Rise in Number of Working Women Boosts the Meal Replacement Shake Market
The surge in the number of working mothers is an alternative factor driving the meal replacement shake market growth currently. In 2017, 39.2% of females were recorded in the female labor force. Additionally, as many working mothers join back within few months post-delivery, they find the meal replacement shake very convenient. The ease of availability along with high nutritional content will further drive the demand for the meal replacement market.
The negative publicity and false promises are increasing FDA’s challenges in weight management beverages and the lack of consumption of product hampers the growth of meal replacement shake.
Meal replacement shake Market Key Players
Product launches have dominated the meal replacement shake market as there has been an increasing focus on the nutrition rich profile of the meal replacement shake, which is being manufactured by key players across the globe. They are:
- Idealshape LLC (The Hut Group)
- Elev8 Brands, Inc
- Abbott Industries
- Harbalife Nutrition
- Damhert Nutrition
- Trinkkost GmbH
- Nouveau Medicament (P) Ltd.
- Perrigo Company Plc.
- Futricio
- Medisys Biotech Pvt. Ltd.
- Nutrition and Santé SAS
- Saturo Food GmbH
The research report presents a comprehensive assessment of the Meal replacement shake market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data.
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