Product Code: ETC4549165 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India meal replacement market import shipments showed a robust CAGR from 2020 to 2024, indicating significant growth momentum. However, there was a sharp decline in growth rate between 2023 and 2024, suggesting a sudden slowdown. Overall, the market expanded steadily with a notable deceleration in the final year.
The meal replacement market in India has seen notable expansion as consumers seek convenient and healthy alternatives to traditional meals. Meal replacement products typically come in the form of shakes, bars, or powders and are designed to provide a balanced and nutritious meal substitute. With the increasing pace of life and the desire for portion control, meal replacements have gained traction in the market. These products are favored not only for weight management but also as on-the-go options for busy individuals. The market for meal replacements is expected to continue to grow as people prioritize health and convenience.
The meal replacement market in India is being driven by changing consumer lifestyles. Busy schedules, urbanization, and the need for convenient yet nutritious meal options have led to the increased demand for meal replacement products. Additionally, the awareness of weight management and the desire for portion control have boosted the adoption of meal replacement solutions. As companies continue to offer innovative and personalized meal replacement options, the market is expected to grow further.
The India meal replacement market confronts several challenges. Firstly, there is a need for increased awareness among consumers about the concept and benefits of meal replacements. Educating consumers about the nutritional value and convenience of these products is crucial. Sourcing high-quality and nutritionally balanced ingredients for meal replacements can be challenging. Regulatory hurdles related to safety, labeling, and claims about meal replacements affect the industry`s growth potential. Additionally, competition from conventional food items and changing eating habits add complexity to the market. Manufacturers also face the challenge of formulating meal replacements that meet nutritional requirements while providing convenience and taste.
The India Meal Replacement market has been significantly impacted by the COVID-19 pandemic. With lockdowns and restrictions affecting daily routines, many consumers turned to meal replacement products as a convenient and safe way to maintain their nutrition. This led to a surge in demand for meal replacement shakes and bars. However, supply chain disruptions and challenges in manufacturing affected the availability of these products, leading to price fluctuations and occasional shortages. As the situation stabilizes, the India Meal Replacement market is expected to continue to grow, albeit with potential changes in consumer preferences and product innovation.
The India Meal Replacement market features prominent players such as Amway India Enterprises Pvt. Ltd., Herbalife International India Pvt. Ltd., and Nestl?. These companies provide meal replacement products and solutions for health-conscious consumers.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Meal Replacement Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Meal Replacement Market Revenues & Volume, 2021 & 2031F |
3.3 India Meal Replacement Market - Industry Life Cycle |
3.4 India Meal Replacement Market - Porter's Five Forces |
3.5 India Meal Replacement Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.6 India Meal Replacement Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 India Meal Replacement Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing health consciousness among Indian consumers |
4.2.2 Busy lifestyles leading to demand for convenient and quick meal options |
4.2.3 Rising disposable incomes in urban areas driving spending on health and wellness products |
4.2.4 Growing awareness about weight management and nutrition |
4.3 Market Restraints |
4.3.1 Traditional preferences for freshly cooked meals over meal replacements |
4.3.2 Lack of awareness about the benefits and usage of meal replacement products |
4.3.3 Price sensitivity and affordability issues for a significant portion of the population |
5 India Meal Replacement Market Trends |
6 India Meal Replacement Market, By Types |
6.1 India Meal Replacement Market, By Product Type |
6.1.1 Overview and Analysis |
6.1.2 India Meal Replacement Market Revenues & Volume, By Product Type, 2021-2031F |
6.1.3 India Meal Replacement Market Revenues & Volume, By Ready-to-Drink, 2021-2031F |
6.1.4 India Meal Replacement Market Revenues & Volume, By Bars, 2021-2031F |
6.1.5 India Meal Replacement Market Revenues & Volume, By Powder, 2021-2031F |
6.2 India Meal Replacement Market, By Distribution Channel |
6.2.1 Overview and Analysis |
6.2.2 India Meal Replacement Market Revenues & Volume, By Offline , 2021-2031F |
6.2.3 India Meal Replacement Market Revenues & Volume, By Online, 2021-2031F |
7 India Meal Replacement Market Import-Export Trade Statistics |
7.1 India Meal Replacement Market Export to Major Countries |
7.2 India Meal Replacement Market Imports from Major Countries |
8 India Meal Replacement Market Key Performance Indicators |
8.1 Number of health and wellness events or expos where meal replacement products are showcased |
8.2 Growth in online searches and social media mentions related to meal replacement products |
8.3 Number of partnerships between meal replacement brands and fitness centers or health professionals |
8.4 Percentage increase in the number of meal replacement product varieties available in the market |
8.5 Growth in the number of meal replacement product users who report positive health outcomes |
9 India Meal Replacement Market - Opportunity Assessment |
9.1 India Meal Replacement Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.2 India Meal Replacement Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 India Meal Replacement Market - Competitive Landscape |
10.1 India Meal Replacement Market Revenue Share, By Companies, 2024 |
10.2 India Meal Replacement Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |