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Meal Replacement IndustryDescription
Meal replacements come as bars or brinks that help reduce the pressure of preparing meal. It provides the same vitamins and minerals along with the mass as that of the solid food. The most interesting part about the meal replacements is that it does not ensure any loss of weight. It simply balances the nutrient content of the body. Besides the body builders the daily workers and people with hectic schedule also prefer this substitute of staple diet
The market overview of this product depends entirely on the medication and recommendation of the brand. The end-users of the product are highly physique conscious and thus, quality of the product is the primary concern of the makers. Another aspect that ensures a stable number of users of this product is the detailed mention of ingredients and processes on the cover. With the help of this label the doctors prescribe it even during famines to eradicate malnutrition. Manufacturers are also launching diverse products, each of them is equally powered by innovation, which is creating scope for the market expansion.
Competitive Landscape: Abbott Nutrition, Blue Diamond Growers, Bob's Red Mill Natural Foods,Herbalife, SlimFast
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Segmentation
The market has been segmented into product type and distribution channel. This provides a closer look at the global meal replacement market.
Based on the product type, the meal replacement market can be segmented into ready-to-drink products, edible bars, powdered products, and others. The edible bars segment is quite popular among athletes, bodybuilders, trekkers, and others. The ready-to-drink segment is gaining substantial traction from people leading busy lives yet who are health-conscious.
Based on the distribution channel, the meal replacement market can be segmented into convenience stores, hypermarket/supermarket, specialty stores, online retailers, and others. The hypermarket/supermarket segment is expecting substantial market coverage in the coming years. The online retailers are also having a great going.
Regional market
North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa (MEA) are regions that have been included in the global meal replacement market report.
North America and Europe are experiencing similar patterns evolving in their market growths. North America has the US and Canada contributing substantially. With their huge budget expenditure, they are spending remarkably for research and development, and are coming up with a wide-range of meal replacement products. In Europe, countries like France, Germany, the UK, and others are contributing for a holistic growth of the market.
Malnutrition mostly had spread in the Asian and the African countries. The market of this product is quite active in those regions. It is primarily used by the Global non-Governmental organizations to treat the huge number o people of these regions. In the APAC region, China, India, Japan, Australia, and others are profiting much from the rapid urbanization and growing health consciousness. The MEA market has lack of awareness regarding meal replacement products. The region is gaining leverage from infrastructural changes in Qatar, Kuwait, Oman, and others. On the other hand, Africa is replete with poor economies who are not going to contribute much.
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