Market Size of South America Meal Replacement Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.11 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Meal Replacement Products Market Analysis
South America meal replacement products market is projected to grow with a CAGR of 6.11% during the forecast period (2020 - 2025).
- With increasing awareness about a healthy diet among the consumers across the region, nutritional bars have become immensely popular, replacing chocolates, cakes, and biscuits as convenient options to the consumers. Key players operating in the market studied are continuously differentiating their products in terms of flavors, ingredients, size, and packaging, in order to gain competitive advantage.
- Moreover, the dominance of meal replacement options in South America is enabling on-the-go snacks product brands to launch price-friendly options, thereby, expanding the product reach is comparatively nascent markets of the region, such as Peru, Chile, Venezuela, etc.
- Furthermore, the support of the government further drives the market. Argentina's government increased its budget by 50% around USD 184 million for public food and nutrition policies by the end of 2019 with an effort to drive financial support to the food programs in the country. The following measure is expected to have a positive impact on the demand for meal replacement products in the country.
South America Meal Replacement Products Industry Segmentation
The South America meal replacement 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 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 South America including Brazil, Argentina and rest of South America.
| By Product Type | |
| Ready-to-Drink Products | |
| Nutritional Bars | |
| Powdered Supplements | |
| Others |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Online Stores | |
| Convenience Stores | |
| Specialty Stores | |
| Others |
| Geography | |
| Brazil | |
| Argentina | |
| Rest of South America |
South America Meal Replacement Products Market Size Summary
The South America meal replacement products market is experiencing significant growth, driven by an increasing consumer awareness of healthy dietary choices. Nutritional bars have gained immense popularity, often replacing traditional snacks like chocolates and cakes due to their convenience and health benefits. Key market players are differentiating their offerings through various flavors, ingredients, sizes, and packaging to maintain a competitive edge. The market's expansion is further supported by the introduction of cost-effective meal replacement options by on-the-go snack brands, particularly in emerging markets such as Peru, Chile, and Venezuela. Government initiatives, such as Argentina's increased budget for public food and nutrition policies, are also contributing to the market's positive outlook by enhancing the demand for meal replacement products.
The demand for high-quality premium snacking options is on the rise, particularly among affluent consumers, with nutritional bars becoming a mainstream choice in South America. These bars are gaining traction not only among athletes and fitness enthusiasts but also among the general public, who seek convenient and nutritious meal alternatives. In Brazil, the health and wellness trend is a major influence, with consumers prioritizing products that are low in added sugars and offer health benefits, such as high-protein and gluten-free options. The market is further bolstered by the presence of global players like Amway, Herbalife, and Glanbia PLC, who are expanding their operations in the region. Product launches and market expansion are key strategies for these companies, driving the growth of the meal replacement products market in South America.
South America 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 By 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 Others
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2.2 By Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Online 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 Others
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2.3 Geography
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2.3.1 Brazil
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2.3.2 Argentina
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2.3.3 Rest of South America
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South America Meal Replacement Products Market Size FAQs
What is the current South America Meal Replacement Products Market size?
The South America Meal Replacement Products Market is projected to register a CAGR of 6.11% during the forecast period (2024-2029)
Who are the key players in South America Meal Replacement Products Market?
Amway GmbH, Herballife Nutrition, Bob’s Red Mill Natural Foods, Glanbia PLC and Alpina SA are the major companies operating in the South America Meal Replacement Products Market.
