There was a time a few generations back when meal replacement products were consumed solely by folks trying desperately to shed a few pounds, usually after the holidays or extravagant vacation. They were mixed with milk or water or came already mixed, and had the consistency, taste, color, and appearance of damp chalk. They were wholly unappetizing, and people saw them as a kind of torture to be endured if losing a little weight had to be done quickly and conveniently. They were, at best, an endurance test for those determined to lose weight fast.
Another segment of this once-limited market were weight lifters at gyms. In order to quickly gain muscle mass and strength, they'd consume calorie-laden drinks once or twice daily. They didn't care much about taste; if the product bulked them up, they would drink it.
Today, health-conscious consumers often turn to meal replacement drinks, bars and powders for a wide range of reasons, and we are developing cutting edge products to meet those needs.
Today, even millennials understand the value of getting a vitamin-rich meal on the go, because life is hectic and they rarely have time to relax and enjoy a balanced meal. Also, society is much wiser now about the nutrition we need and when we need it, and supplying customers with a range of meal replacement products will widen your client base and bring in new customers. No doubt you've seen the rise in these trends in your own venue, and it is only going to increase as demand for high-quality meal replacements continues to skyrocket.
People today are forward-thinking and health-conscious. People are informed about wellness and want more from meal replacement therapies. No doubt your own sales info substantiates this when you examine what sells and what doesn't. Customers want products that do much more than restrict their caloric intake. Yes, some want low sugar options, but the field is bigger and more complex today, and consumers expect more.
They want products that offer protection from cardiovascular disease and cancer; they want products that offer cholesterol reduction and immune system strengthening, and protection from eye diseases like macular degeneration and cataracts. Simply put, they want products that will help them live full, long and healthy lives.
Meal replacement therapies -- everything from workout supplements to probiotics for gut health to collagen supplements for strength and muscle building -- are part of the multi-billion dollar market that our products are designed for. No matter what the customer seeks, we have the meal replacement therapy that satisfies.
For example, obesity is a global plague that is affecting every country and every demographic. According to Grand View Research, by the end of 2020 the weight management market will reach 423 billion (USD), the lion's share of that market in North America. Now, however, studies show that the obesity epidemic is hitting Asian nations too, and is rapidly becoming a health crisis in many of those countries as well.
But curative meal replacement products for issues like obesity aren't all that are capturing the market, and they are not the sole consumers of meal replacements. Who are these consumers, and what are they seeking?
There are those people who want to bulk up or lose weight -- opposite ends of one spectrum. But there are many others, too, who use meal replacements because they want quick alternatives to fast food when they are swamped at work. And they want a variety of flavors, with clear, comprehensive labeling so they know what they're getting in terms of calories, carbs, fats, and other nutritional elements. Lindsey Ormond, Director of Nutrition & Research at Milk Specialities Global, a Minnesota firm, said recently on her company's website that the market continues to expand. "While the traditional bodybuilding consumer still exists," she noted, "the consumer group has widened to include weekend warriors, endurance athletes, women, and aging consumers." In other words, just about everyone is up for trying meal replacements -- if they taste delicious and offer solid nutrition.
People want to stay healthy, too and are turning to preventative products to help them achieve and maintain a fit body and long life. Workout and sports supplements have captured a huge part of the public's appetite for health and wellness -- for example, figures provided by Statista, a market research firm, show that consumers globally spent 45 billion (USD) in 2018 for these products. That figure is projected to climb to almost 65 billion (USD) by 2022. Furthermore, Baidu Index demonstrates that the upward trend in the popularity of sports, nutrition and protein drinks is still climbing, and will continue to do so for many years.
Learning about society's nutritional needs, whether those needs are preventative or curative, is an ongoing process that is never static. As cultures and society evolve, so does knowledge evolve about what people need, when they need it, and how product solutions can address those needs.
We are constantly exploring new ways of bringing you -- and your customers -- the best in alternative meals available today. Just as your customers trust you to provide them with the smartest, most advanced products on the market today, so can you trust the science behind each of our products.
Meal replacement drinks, nutrition bars, and energy supplements are not just for dieters anymore. There is a product available to meet almost everyone's nutritional needs, available for you to pass along to consumers. Science and research and delicious flavors -- they combine in our products to offer superlative meal replacement therapies for a booming and growing market. Don't get left behind; research proves that meal replacement therapies are not just for dieters and weight lifters anymore. They are for everyone, whatever their nutritional needs may be.