Market Trends of Asia-Pacific Meal Replacement Products Industry
Consumers Managing Special Diets Strive on Meal Replacements
- Owing to the rising prevalence of obesity and diabetes, consumers are rigorously monitoring their regular diets and nutrition intake and increasingly inclining toward meal replacement products. According to the findings of a comprehensive study performed throughout India by an Indian fitness technology company GOQii, more than 43% of respondents who had diabetes in 2021 were older than 60.
- Significantly, 3.3% of respondents in the 20-29 age group reported having diabetes in that particular year. In the Asia-Pacific region, numerous companies are primarily dedicated to offering tailored meals, such as shakes and drinks, for people willing to cut regular diets to lose weight effectively.
- Companies such as General Mills, KETO, Garden of Life, and Abbott Laboratories are introducing meal replacement products for consumers monitoring special diets, such as no-sugar, keto, low-sodium, and low-fat, which remains another factor boosting the market studied.
- The health and wellness trend can be expected to remain the most important influence on developments in meal replacement products across the region. Thus, the sales of nutritional bars in the region are growing, as consumers across want to have snacks that are not only low in added sugar but also offer clear health benefits. There has been a surge in demand for organic meal replacement products such as organic powder supplements, beverages, and snack bars which in turn drive the market growth.
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Australia is the Among the Fastest-growing Market in the Region
- The hectic lifestyles of people have led to disturbed food habits. Thus, the demand for on-the-go nutrition has increased over the years. Meal replacement shakes and nutrition bars are simple and effective weight-loss tools for overweight or obese people with diabetes.
- According to the Australian Bureau of Statistics National Health Survey report, overweight and obese almost affect 67% of Australian adults. Thus, the rising prevalence of overweight and obesity among the younger population and millennials is increasing the demand for meal replacement bars as it helps to promote weight loss in several ways, including boosting metabolism and reducing appetite.
- The convenience of cereal bars, including on-the-go snacking products, is leading consumers to prefer these bars to get the required energy and nutritional benefits in one convenient, easy-to-stow package. The trend of 'anytime' snacks is increasing in the country, and products such as nutritional bars used as meal replacements by health-conscious consumers are escalating in the market. Further, organic meal replacement products, such as organic powder supplements, beverages, and snack bars, are becoming increasingly popular among health-conscious consumers. The rapid expansion of specialty and online retail stores plays a key role in making these products easily accessible to consumers.
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