Meal Replacement Shakes Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Meal Replacement Shake Industry Overview

The global meal replacement shakes market is consolidated, with the top players accounting for a major market share. The manufacturers are increasing their investments in R&D, marketing, product innovation, and the expansion of their distribution channels, to maintain their positions in the market. Moreover, the global players in the market include Abbott Laboratories, Amway Corp., Glanbia PLC, Nestle S.A., and Herbalife Nutrition. Most of the companies in the market are focusing on leveraging the opportunities offered by the emerging segments, like sugar-free, vegan, gluten-free, soy-free, and non-GMO products. Owing to the rise in demand of meal replacement products across the globe, new players have been focussing on product innovations, expansions, mergers and acquisitions in order to thrive in the market. For example, in 2021, Sustenance, a Singaporean meal-replacement company, expanded to Australia, the company entered the market with ready-to-drink shakes produced with calorie-restricted, plant-based ingredients derived from actual food. Such factors are expected to fragment the market for meal replacements in the long run.