Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Australia Meal Replacement Products Market Outlook

The Australia meal replacement products market size reached USD 195.5 million in 2023. The market is expected to grow at a CAGR of 5.1% between 2024 and 2032, reaching USD 309.3 million by 2032.

Key Takeaways:

  • The Australian Institute of Health and Welfare stated Australia's 20-39 adult population in 2022 was 7,264,645.
  • As per the USDA, Australia's 2023/2024 oat production is estimated at 1.1 million metric tonnes, boosting demand for cereals and muesli.
  • Australia ranks as the second-largest contributor globally, supplying 10% of almonds, which are notably prevalent in the production of energy bars.

Nutritional bars enhance Australia meal replacement products market by providing a convenient on-the-go meal option for busy people

They are portable and can be consumed without requiring preparation or refrigeration. Nutritional bars in the meal replacement sector offer convenient on-the-go solutions with balanced nutrition, assisting in weight management through portion control. They deliver quick energy boosts, a variety of flavours, extended shelf lives, and regulated nutrition for consumer confidence.

In 2023, Australian confectioner Menz collaborated with breakfast brand Carman to create a limited-edition Violet Crumble protein bar. These bars featured elements of Violet Crumble's honeycomb, peanuts, and milk chocolate, along with natural ingredients.

The meal replacement market is experiencing growth with inventive nutritional bars and powders, meeting the needs of health-conscious consumers. Tailored marketing, convenience, broad appeal, and adherence to regulations ensure an array of options for those seeking nutritious, convenient meal alternatives in their busy lives.

Australia Meal Replacement Products Market

Market Segmentation

Australia Meal Replacement Products Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

  • Nutritional Bars 
  • Powdered Products
  • Ready-to-Drink Products 
  • Others

Market Breakup by Distribution Channel

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online
  • Others

Market Breakup by Region

  • New South Wales
  • Victoria
  • Queensland
  • Australian Capital Territory
  • Western Australia
  • Others

The Australia meal replacement products market key players are Nestlé SA, Abbott Laboratories, Glanbia Plc, Herbalife International of America, Inc., Amway Corp. and VYBEY among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Distribution Channel
  • Region
Breakup by Type
  • Nutritional Bars
  • Powdered Products
  • Ready-to-Drink Products
  • Others
Breakup by Distribution Channel
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Specialty Stores
  • Online
  • Others
Breakup by Region
  • New South Wales
  • Victoria
  • Queensland
  • Australian Capital Territory
  • Western Australia
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nestlé SA
  • Abbott Laboratories
  • Glanbia Plc
  • Herbalife International of America, Inc. 
  • Amway Corp.
  • VYBEY 
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market was valued at USD 195.5 million in 2023.

The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.

The revenue generated from the meal replacement products market is expected to reach USD 309.3 million in 2032.

The meal replacement products market is categorised according to type, which includes nutritional bars, powdered products, ready-to-drink products, and others.

The key players are Nestlé SA, Abbott Laboratories, Glanbia Plc, Herbalife International of America, Inc., Amway Corp. and VYBEY among others.

Based on the distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, online and others.

The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.    

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