Market Trends of Europe Meal Replacement Products Industry
Consumers Managing Special Diets Strive on Meal Replacements
The European population witnesses immense diabetes and obesity-related problems. This is highly likely due to a shift in consumers' focus toward attaining a healthy and active lifestyle and aligning activities that are more in line with fitness. A meal replacement is anticipated to find a sweet spot in the European market, where the product itself is an alternative to traditional convenience foods. The global players are highly investing in the European market, observing higher consumer inclination towards meal replacement products.
Moreover, busy lifestyles, the lack of time for physical activities, and callous food choices have led to widespread obesity. As per the data published by the Italian National Institute of Statistics (ISTAT), the number of obese people in Italy increased between 2005 and 2021. According to data, there were nearly 4.8 million obese adults in the country in 2005, with the number rising to nearly six million by 2021. Hence, consumers are now looking for meal supplements to maintain their weight. The meal replacement products market in Europe is driven by the increasing preference for preventive health-management practices. Moreover, the awareness about and the market penetration level of fat-burning supplements are high; thus, the market is growing significantly.
Italy Forms a Significant Market in the Region
The meal replacement products market in Italy is driven by the increasing preference of consumers toward preventive health management practices. Moreover, the awareness and market penetration level for fat burn supplements are high, especially among health-conscious millennials. Thus, the manufacturers of these supplements have set up several distribution channels, such as pharmacies, hypermarkets, and supermarkets, to increase the accessibility of the product to consumers. This is one of the critical attributes for the Italian meal replacement market to grow from a niche consumer market to a mature sector. Moreover, the evolving busy lifestyles, the lack of time for physical activities, and food choices have led to obesity issues. The factor mentioned above has, in turn, resulted in Italian consumers looking for various alternatives. Additionally, according to data from Istat, in 2021 81.5% of people (per 100 people with the same characteristics) preferred having an adequate breakfast and there has been a growing trend of having meal replacements that are fortified as breakfast.
It is not recommended for consumers with minor health conditions, such as diabetes, to use supplements, but they can use meal replacement products to enhance their physical health. These elements are accelerating market expansion. They also give manufacturers the chance to create a variety of solutions.
