The meal replacement bars market is expected to witness growth at a CAGR of 8.05% and reach a valuation of US$ 25.6 Billion by 2032, as per Future Market Insights (FMI). Preference for low-fat, low-calorie snacks that are healthier than conventional snacks is improving the growth.
Meal replacement bars are a convenient and typically healthier option for a short on-the-go meal or immediate consumption. The meal replacement bars market is driven by the availability of a variety of types and flavours. As a result, these bars are becoming increasingly popular, especially among the working class and young people.
Furthermore, as people analyse components before purchasing items, key stakeholders are highlighting packaging and labelling. Brands that disclose the components in their products are more likely to gain consumer trust.
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They are also investing in research & development to introduce new product versions with multifunctional capabilities. Organic products are becoming increasingly popular among consumers trying to lower their risk of high blood pressure, obesity, and heart disease. Meal replacement bars are available in a variety of flavours, including low-fat, low-calorie, and low-cholesterol, thus demand for this product is projected to increase shortly.
Shift in preference for healthy lifestyle and willingness to spend on products to maintain fitness and immunity against foreign pathogens is expected to boost the demand for meal replacement bars.
Regionally, Asia Pacific market is expected to be a promising market for consumers due to rising awareness about inclusion of nutritious food products and investments in research and developmental activities by regional players.
Key Takeaways from Market Study
- North America meal replacement bars market is expected to increase at CAGR of 7.6% through 2032.
- Sales of meal replacement bars in Europe are expected to surge at 7.3% CAGR between 2022 and 2032
- Market share of Latin America and Oceania in meal replacement bars market is 6.5% and 6.3%, respectively, in 2022.
- By function, weight loss management is expected to hold 60% of the global meal replacement bars market share and is expected to increase at a CAGR of 7.2%.
“With rising shift towards plant-based, sugar-free products that are beneficial for health, key brands are focusing on developing new flavours and product variants to stand out in the competition” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of meal replacement bars are majorly focusing on research & development to offer different flavors of products. Customization is expected to contribute maximum revenue generation through sale of meal replacement bars.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global meal replacement bars market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Meal Replacement Bars Market by Category
By Product Type:
- Nut-Free Bars
- Gluten-Free Bars
- Plant-based Bars
- Organic Bars
By Function:
- Curb Appetite
- Muscle Repair
- Fuel Workout
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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