Meal Replacement Shake Market to Expand Significantly by 2034
The meal replacement shake market is undergoing significant growth, reaching US$ 5,189.6 million in 2024. The market is expected to show a moderate upward trend with a CAGR of 5.7% over the past decade. By 2034, the market is projected to exceed an expected value of US$ 9,035.8 million, indicating its continued popularity among health-conscious consumers.
Meal replacement shakes and products are gaining popularity among consumers, especially those managing weight or diabetes, due to their convenience and nutritional benefits. The eCommerce sector is expected to support this growth, with ready-to-drink shakes and cereal bars becoming popular choices. The shift toward vegan protein due to animal welfare concerns is driving the growth of plant-based or vegan shakes.
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Meal replacement shakes are popular among the working class, teenagers, hostel dwellers, and bachelors, as they are effective weight-loss tools for overweight or obese individuals with diabetes.