Market Size of Europe Meal Replacement Products Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 2.12 Billion |
Market Size (2029) | USD 3.16 Billion |
CAGR (2024 - 2029) | 8.31 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Meal Replacement Products Market Analysis
The Europe Meal Replacement Products Market size is estimated at USD 2.12 billion in 2024, and is expected to reach USD 3.16 billion by 2029, growing at a CAGR of 8.31% during the forecast period (2024-2029).
Meal replacement products are gaining traction among consumers who are monitoring special diets, majorly those managing weight, or watching their blood sugar levels due to diabetes. There are numerous companies in Europe primarily dedicated to offering tailored meals, such as shakes and drinks, for people willing to cut regular diets to effectively lose weight. Additionally, numerous supporting research studies and government regulations are expected to drive the preference for meal replacement products in the region. For instance, the European Union Commission Regulation established that substituting two of the main daily meals of an energy-restricted diet with meal replacements contributes to weight loss, whereas substituting one of the main daily meals with such products is expected to help people maintain their weight after weight loss.
Moreover, the market has also witnessed significant sales growth of formulations, owing to their natural profile and associated label claims. Companies are focusing on product positioning as an important tool to gain a sustainable advantage, and certain consumer groups are considered as target segments, and products are offered based on their health needs and preferences. Bertrand, a company headquartered in Germany, is providing organic and vegan variant meal replacement drinks that contain high-quality proteins from almonds, walnuts, oats, and rice, and provides readily available vegetable calcium.
Europe Meal Replacement Products Industry Segmentation
A meal replacement is a beverage, bar, bowl of soup, etc. that is meant to replace a substantial meal and typically has a set amount of calories and nutrients. The Europe meal replacement products market is segmented by product type, distribution channel, and geography. By product type, the market studied is segmented into ready-to-drink products, nutritional bars, powdered supplements, and other product types. Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, online retail stores, convenience stores, specialty stores, and other distribution channels. Furthermore, the report takes into consideration the market for meal replacement products in established and emerging countries of Europe including the United Kingdom, Spain, Italy, Germany, Russia, France, and Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
Product Type | |
Ready-to-Drink Products | |
Nutritional Bars | |
Powdered Supplements | |
Other Product Types |
Distribution Channel | |
Supermarkets/Hypermarkets | |
Online Retail Stores | |
Convenience Stores | |
Specialty Stores | |
Other Distribution Channel |
Geography | |
Spain | |
United Kingdom | |
Germany | |
France | |
Italy | |
Russia | |
Rest of Europe |
Europe Meal Replacement Products Market Size Summary
The meal replacement products market in Europe is experiencing significant growth, driven by an increasing consumer focus on health and wellness. These products are particularly popular among individuals managing weight or blood sugar levels, such as those with diabetes. The market is characterized by a diverse range of offerings, including shakes and drinks, tailored to meet the dietary needs of health-conscious consumers. Companies are leveraging product positioning and targeting specific consumer segments to gain a competitive edge. The European Union's regulatory support, which endorses the use of meal replacements for weight management, further bolsters market expansion. The demand for natural and organic formulations is also on the rise, with companies like Bertrand offering vegan and high-protein options to cater to this trend.
In Italy, the market for meal replacement products is growing as consumers increasingly seek preventive health management solutions amid rising obesity rates. The availability of these products through various distribution channels, such as pharmacies and supermarkets, has enhanced accessibility, contributing to market maturation. The busy lifestyles and changing dietary preferences of consumers have led to a shift towards meal replacements as convenient alternatives to traditional foods. The competitive landscape in Europe is marked by the presence of major players like Abbott Laboratories, Herbalife Nutrition, and Nestlé, who are expanding their geographic reach and product portfolios. New entrants and innovative product offerings are also shaping the market, as seen with brands like Myprotein's BeNu and Abnormal's personalized meal services.
Europe Meal Replacement Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Ready-to-Drink Products
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2.1.2 Nutritional Bars
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2.1.3 Powdered Supplements
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2.1.4 Other Product Types
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Online Retail Stores
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2.2.3 Convenience Stores
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2.2.4 Specialty Stores
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2.2.5 Other Distribution Channel
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2.3 Geography
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2.3.1 Spain
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2.3.2 United Kingdom
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2.3.3 Germany
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2.3.4 France
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2.3.5 Italy
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2.3.6 Russia
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2.3.7 Rest of Europe
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Europe Meal Replacement Products Market Size FAQs
How big is the Europe Meal Replacement Products Market?
The Europe Meal Replacement Products Market size is expected to reach USD 2.12 billion in 2024 and grow at a CAGR of 8.31% to reach USD 3.16 billion by 2029.
What is the current Europe Meal Replacement Products Market size?
In 2024, the Europe Meal Replacement Products Market size is expected to reach USD 2.12 billion.