Meal replacement sector set to hit €19.17bn by 2030

It wasn’t long ago that meal-replacement drinks were thought of solely as an aid to weight loss, with brands like SlimFast dominating the category.

But times have changed. Meal-replacement has broken out of its slimming mould and firmly entered the mainstream.

And success is building fast and beyond liquid formats, with the global meal-replacement products market now valued at $13.79bn (€12.41bn) and growing at a CAGR of 7.52% (ResearchandMarkets).

“Where these products were once considered niche, we now see entire bays dedicated to them,” says Natalie Stanton, head of sales UK at Huel, who will be speaking at an upcoming Meal Replacement webinar.

So, what’s behind this success and what’s next for the sector?

Why are meal replacements so successful?

The shift in the meal replacement category mirrors the shift in consumer demands.

“Ten years ago, meal replacements were typically hidden away in the pharmacy aisle, and associated primarily with weight loss and optimised to be as low in calories as possible,” says Huel’s Stanton.

But the meal replacement conversation has moved away restriction and towards functionality, with added nutrients that support performance, longevity, and wellbeing.

And brands including Huel, YFood and Protein Works have answered this need producing products that provide complete meals for consumers.

“At Huel, we’ve seen this shift in the way customers talk about their needs - they’re fuelling with purpose,” says Stanton.

Added to that consumers are navigating busy lifestyles, which don’t always allow time for a sit-down meal, and food on-the-go can be messy and inconvenient.

“More and more people have a busy lifestyle, but they do not want to sacrifice nutrition for that,” says Paul Sloane, UK and Ireland country manager of YFood. “Previously, they may have skipped a meal or grabbed something less nutritionally optimal. In these situations, they can now grab a nutritionally complete drink.”

What do consumers want most from meal replacements?

Certain nutrients are top of the pops when it comes to consumer demands and protein is one of them.

“Protein is a big driver,” says Stanton. But the industry is battling to meet growing demand. Huel’s Ready-to-drink offers 20g of plant-based protein, but customer feedback showed they wanted even more, leading to the launch of the Black Edition Ready-to-drink with 35g of protein. And it’s proven to be one of the brand’s “most successful launches” showing just how strong demand for high-protein products is.

Added fibre is also proving to be a major draw across all food and beverage categories, with Innova Insights noting a significant rise in fibre claims on beverage, bakery, dairy and snack products.

Ingredients that support energy, hydration, and vitamins and minerals are also key for consumers.

And, when it comes to taste, flavours with broad appeal like chocolate and vanilla continue to lead sales.

The future of meal replacements

The meal replacement sector is projected to reach a value of $21.30bn (€19.17bn) by 2030.

“We expect continued growth, driven by increasing consumer awareness and broader availability across all channels,” says Huel’s Stanton.

Personalised nutrition is expected to become central to the success of the category, with future innovation focusing on catering to different occasions, needs, and preferences, alongside a rise in the use of functional ingredients.

As the sector matures, brands that combine nutritional value with great taste will continue to drive growth and succeed in the sector.