Summary

North America Meal Replacement Market Research Report Information By Product Type (powder, ready -to-drink, bars, and others), by Nature (organic and regular), by Price Range (economy/mass and premium), by Category (plant-based, gluten-free, nut-free, and others), by Application (muscle building, weight loss, weight gain, and energy), by End User (residential and commercial), by Distribution Channel (supermarket & hypermarket, convenience stores, specialty stores, and online), and by Region (US, Canada, Mexico) Forecast Till 2032

Review of the Market
In 2023 North America Meal Replacement Market Size was USD 6,219.34 million. With a compound annual growth rate (CAGR) of 7.71% for the forecast period (2024 – 2032), the Meal Replacement sector is expected to expand from 2024 to USD 11,974.53 million by 2032. Driven mostly by growing obesity and diabetes rates, busy lifestyle and convenience, and creative product offers, the North America Meal Replacement market has seen a radical change recently.
Consumer tastes toward organic, vegan, and free-from food has driven major change in the North America meal replacement sector in recent years. Increasing knowledge of health, sustainability, and food safety drives most of this growth. As customers give natural and whole ingredients top priority, organic meal replacements—which eliminate synthetic additives and preservatives—are becoming more popular. Growing idea that organic foods provide better health advantages and a larger tendency toward supporting sustainable agriculture reflect the increasing demand for organic products.
Market Segments Insights
The North America Meal Replacement market has been split depending on product type into powder, ready-to-drink bars, others.
The nature dictates that the market has been split into organic and regular.
The North America Meal Replacement market has been split into premium and economy/mass based on the price range.
The market has been split based on the category into plant-based, gluten-free, nut-free, and others.
Based on the application, the North America Meal Replacement market has been split into muscle growth, weight reduction, weight gain, and energy.
The market has been split depending on the end user into residential and commercial.
The market has been split depending on the distribution channel into supermarket and hypermarket, convenience stores, specialist retailers, and internet.

Regional Market Understanding
The report breaks up the market by Region into US, Canada, and Mexico. With a market value of USD 5,112.59 million and a market share of 82.20%, the US sector held the highest market share in 2023. The strong growth of the meal replacement industry in the United States is driven by the increasing need for portable, on-the-go nutrition solutions. Meal replacements are becoming more and more popular among health-conscious consumers, working professionals, fitness enthusiasts, and those seeking whole nutrition free from the trouble of meal planning.
In Canada, meal replacements are becoming increasingly popular; this increase in demand for quick, healthy substitutes for conventional meals is driving this trend. Busy lives as well as an increasing interest in fitness and weight control are fueling meal replacements' popularity.
Hectic lives, increasing urbanization, and more health consciousness are among the reasons Mexico's meal replacement market is growing. Particularly for individuals trying to reduce weight and increase their fitness, meal replacements are become increasingly popular among customers as quick and cheap substitutes for normal meals.
Prominent Participants
General Mills Inc. (USA), Herbalife Lt. (US), Glanbia PLC (Ireland), The Simply Good Foods Company (US), Huel (Hertfordshire), Starco Brands, Inc. (US), Abbott Laboratories (USA), Kellanova (US), Nestlé S.A. (Switzerland), Amway Corporation (US), among others.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 19
1.1 MARKET ATTRACTIVENESS ANALYSIS 21
1.1.1 NORTH AMERICA MEAL REPLACEMENT MARKET, BY PRODUCT TYPE 22
1.1.2 NORTH AMERICA MEAL REPLACEMENT MARKET, BY NATURE 23
1.1.3 NORTH AMERICA MEAL REPLACEMENT MARKET, BY PRICE RANGE 24
1.1.4 NORTH AMERICA MEAL REPLACEMENT MARKET, BY CATEGORY 25
1.1.5 NORTH AMERICA MEAL REPLACEMENT MARKET, BY APPLICATION 26
1.1.6 NORTH AMERICA MEAL REPLACEMENT, BY END USER 27
1.1.7 NORTH AMERICA MEAL REPLACEMENT, BY DISTRIBUTION CHANNEL 28
2 MARKET INTRODUCTION 30
2.1 DEFINITION 30
2.2 SCOPE OF THE STUDY 30
2.3 RESEARCH OBJECTIVE 30
2.4 MARKET STRUCTURE 31
3 RESEARCH METHODOLOGY 32
3.1 OVERVIEW 32
3.2 DATA FLOW 34
3.2.1 DATA MINING PROCESS 34
3.3 PURCHASED DATABASE: 35
3.4 SECONDARY SOURCES: 36
3.4.1 SECONDARY RESEARCH DATA FLOW: 37
3.5 PRIMARY RESEARCH: 38
3.5.1 PRIMARY RESEARCH DATA FLOW: 39
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 40
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE 40
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 41
3.6.1 CONSUMPTION & NET TRADE APPROACH 41
3.6.2 REVENUE ANALYSIS APPROACH 41
3.7 DATA FORECASTING 42
3.7.1 DATA FORECASTING TECHNIQUE 42
3.8 DATA MODELING 43
3.8.1 MICROECONOMIC FACTOR ANALYSIS: 43
3.8.2 DATA MODELING: 44
3.9 TEAMS AND ANALYST CONTRIBUTION 45
4 MARKET DYNAMICS 48
4.1 INTRODUCTION 48
4.2 DRIVERS 49
4.2.1 RISING OBESITY AND DIABETES RATES 49
4.2.2 BUSY LIFESTYLES AND CONVENIENCE 51
4.2.3 INNOVATIVE PRODUCT OFFERINGS 52
4.3 RESTRAINTS 53
4.3.1 INCREASING CONCERN REGARDING ARTIFICIAL/SYNTHETIC INGREDIENTS 53
4.3.2 COMPETITION FROM WHOLE FOODS 54
4.4 OPPORTUNITY 55
4.4.1 INCREASING SHIFT TOWARDS VEGAN & ORGANIC DIET 55
4.4.2 EXPANSION IN E-COMMERCE 56
4.5 CHALLENGES 57
4.5.1 MAINTAINING PRODUCT QUALITY 57
4.6 STRATEGIC INSIGHTS 58
4.6.1 TECHNOLOGY UPDATE 58
4.6.2 REGIONAL MARKETS TO LOOKOUT FOR 58
4.7 MARKET TRENDS 59
4.8 IMPACT ANALYSIS OF COVID-19 59
4.8.1 IMPACT ON OVERALL FOOD INDUSTRY 59
4.8.1.1 ECONOMIC IMPACT 59
4.8.2 IMPACT ON THE NORTH AMERICA MEAL REPLACEMENT MARKET 60
4.8.3 IMPACT ON THE SUPPLY CHAIN OF MEAL REPLACEMENT 60
4.8.4 IMPACT ON MARKET DEMAND FOR MEAL REPLACEMENT 60
4.8.4.1 IMPACT OWING TO RESTRICTIONS/LOCKDOWN 61
4.8.4.2 CONSUMER SENTIMENTS 61
4.8.5 IMPACT ON PRICING OF MEAL REPLACEMENT 61
4.8.6 CONSUMER BEHAVIOUR ANALYSIS 62
5 MARKET FACTOR ANALYSIS 63
5.1 VALUE CHAIN ANALYSIS 63
5.1.1 RAW MATERIALS 63
5.1.2 MANUFACTURING / PRODUCTION/ PROCESSING 64
5.1.3 PACKING 64
5.2 SUPPLY CHAIN ANALYSIS 64
5.2.1 PARTICIPANTS (AT DIFFERENT NODES) 65
5.2.1.1 RAW MATERIAL SUPPLIERS 65
5.2.1.2 MANUFACTURERS 65
5.2.1.3 DISTRIBUTION CHANNEL 65
5.2.1.4 END USER 66
5.2.2 INTEGRATION LEVELS 66
5.2.3 KEY ISSUES ADDRESSED (KEY SUCCESS FACTORS) 67
5.3 PORTER’S FIVE FORCES MODEL 68
5.3.1 THREAT OF NEW ENTRANTS 68
5.3.2 BARGAINING POWER OF SUPPLIERS 69
5.3.3 THREAT OF SUBSTITUTES 69
5.3.4 BARGAINING POWER OF BUYERS 69
5.3.5 INTENSITY OF RIVALRY 69
5.4 REGULATORY LANDSCAPE 70
6 NORTH AMERICA MEAL REPLACEMENT MARKET, BY PRODUCT TYPE 72
6.1 INTRODUCTION 72
6.2 POWDER 73
6.3 READY -TO-DRINK 74
6.4 BARS 74
6.5 OTHERS 75
7 NORTH AMERICA MEAL REPLACEMENT MARKET, BY NATURE 76
7.1 INTRODUCTION 76
7.2 ORGANIC 77
7.3 REGULAR 78
8 NORTH AMERICA MEAL REPLACEMENT MARKET, BY PRICE RANGE 79
8.1 INTRODUCTION 79
8.2 ECONOMY/MASS 80
8.3 PREMIUM 81
9 NORTH AMERICA MEAL REPLACEMENT MARKET, BY CATEGORY 82
9.1 INTRODUCTION 82
9.2 PLANT-BASED 83
9.3 GLUTEN-FREE 84
9.4 NUT-FREE 85
9.5 OTHERS 85
10 NORTH AMERICA MEAL REPLACEMENT MARKET, BY APPLICATION 87
10.1 INTRODUCTION 87
10.2 MUSCLE BUILDING 88
10.3 WEIGHT LOSS 89
10.4 WEIGHT GAIN 89
10.5 ENERGY 90
11 NORTH AMERICA MEAL REPLACEMENT MARKET, BY END USER 92
11.1 INTRODUCTION 92
11.2 RESIDENTIAL 93
11.3 COMMERCIAL 94
12 NORTH AMERICA MEAL REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL 95
12.1 INTRODUCTION 95
12.2 SUPERMARKET & HYPERMARKET 96
12.3 CONVENIENCE STORES 97
12.4 SPECIALTY STORES 97
12.5 ONLINE 98
13 NORTH AMERICA MEAL REPLACEMENT MARKET, BY REGION 100
13.1 OVERVIEW 100
13.2 NORTH AMERICA 101
13.2.1 US 105
13.2.2 CANDA 107
13.2.3 MEXICO 109
14 COMPETITIVE LANDSCAPE 112
14.1 INTRODUCTION 112
14.2 COMPETITION DASHBOARD 112
14.2.1 PRODUCT PORTFOLIO 113
14.2.2 REGIONAL PRESENCE 113
14.2.3 STRATEGIC ALLIANCES 114
14.2.4 INDUSTRY EXPERIENCES 114
14.3 MARKET SHARE ANALYSIS, 2023 114
14.4 WHO ARE THE MAJOR DISRUPTORS & INNOVATORS 114
14.5 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS 115
14.6 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL 115
14.7 LIST OF KEY PLAYERS/BRANDS, BY REGION 116
14.8 KEY DEVELOPMENTS & GROWTH STRATEGIES 116
14.8.1 PRODUCT LAUNCH 116
14.8.2 MERGER & ACQUISITION 117
14.8.3 PARTERSHIP 119
14.8.4 PARTERSHIP 119
15 COMPANY PROFILES 120
15.1 GENERAL MILLS INC. 120
15.1.1 COMPANY OVERVIEW 120
15.1.2 FINANCIAL OVERVIEW 121
15.1.3 PRODUCTS OFFERED 121
15.1.4 KEY DEVELOPMENTS 122
15.1.5 SWOT ANALYSIS 123
15.1.6 KEY STRATEGY 123
15.2 HERBALIFE LTD. 125
15.2.1 COMPANY OVERVIEW 125
15.2.2 FINANCIAL OVERVIEW 126
15.2.3 PRODUCTS OFFERED 126
15.2.4 KEY DEVELOPMENTS 127
15.2.5 SWOT ANALYSIS 128
15.2.6 KEY STRATEGY 128
15.3 GLANBIA PLC 130
15.3.1 COMPANY OVERVIEW 130
15.3.2 FINANCIAL OVERVIEW 131
15.3.3 PRODUCTS OFFERED 131
15.3.4 KEY DEVELOPMENTS 132
15.3.5 SWOT ANALYSIS 133
15.3.6 KEY STRATEGY 133
15.4 THE SIMPLY GOOD FOODS COMPANY 135
15.4.1 COMPANY OVERVIEW 135
15.4.2 FINANCIAL OVERVIEW 137
15.4.3 PRODUCTS OFFERED 137
15.4.4 KEY DEVELOPMENTS 138
15.4.5 SWOT ANALYSIS 139
15.4.6 KEY STRATEGY 139
15.5 HUEL 141
15.5.1 COMPANY OVERVIEW 141
15.5.2 FINANCIAL OVERVIEW 141
15.5.3 PRODUCTS OFFERED 142
15.5.4 KEY DEVELOPMENTS 142
15.5.5 SWOT ANALYSIS 142
15.5.6 KEY STRATEGY 143
15.6 STARCO BRANDS, INC. 144
15.6.1 COMPANY OVERVIEW 144
15.6.2 FINANCIAL OVERVIEW 145
15.6.3 PRODUCTS OFFERED 145
15.6.4 KEY DEVELOPMENTS 146
15.6.5 SWOT ANALYSIS 147
15.6.6 KEY STRATEGY 147
15.7 ABBOTT LABORATORIES 149
15.7.1 COMPANY OVERVIEW 149
15.7.2 FINANCIAL OVERVIEW 150
15.7.3 PRODUCTS OFFERED 151
15.7.4 KEY DEVELOPMENTS 151
15.7.5 SWOT ANALYSIS 152
15.7.6 KEY STRATEGY 152
15.8 KELLANOVA 153
15.8.1 COMPANY OVERVIEW 153
15.8.2 FINANCIAL OVERVIEW 154
15.8.3 PRODUCTS OFFERED 154
15.8.4 KEY DEVELOPMENTS 155
15.8.5 SWOT ANALYSIS 155
15.8.6 KEY STRATEGY 155
15.9 NESTLÉ S.A. 157
15.9.1 COMPANY OVERVIEW 157
15.9.2 FINANCIAL OVERVIEW 158
15.9.3 PRODUCTS OFFERED 158
15.9.4 KEY DEVELOPMENTS 159
15.9.5 SWOT ANALYSIS 159
15.9.6 KEY STRATEGY 159
15.10 AMWAY CORPORATION 161
15.10.1 COMPANY OVERVIEW 161
15.10.2 FINANCIAL OVERVIEW 161
15.10.3 PRODUCTS OFFERED 162
15.10.4 KEY DEVELOPMENTS 162
15.10.5 SWOT ANALYSIS 162
15.10.6 KEY STRATEGY 162
15.11 DATA CITATIONS 165