Why Consumers’ Appetite for Meal Replacement Drinks is Growing
As time-poor consumers search for the perfect balance between convenience and nutrition, meal replacement drinks are experiencing a revival
The meal replacement market is booming. Time-poor consumers have different eating habits to previous generations and are chasing more convenient ways to satisfy their hunger. “Nutrition has to be quick, efficient and healthy if it’s not for socializing, like family dinners,” said Andre Schneider, a partner at venture capital firm Square One Foods.
One of the fastest-growing products in this market is ready-to-drink meals. UK-based company Huel, currently the most prolific player in this space, has sold more than 50 million drinks worldwide since it was founded in 2015. It has also seen year-on-year customer growth of 150 percent and is on track to be valued at $1.25bn within the next three years.
But the meal replacement market has always had its sceptics. The question is: who would want to replace meals? Huel’s just-add-water solution, usually served cold, doesn’t exactly provide the same enjoyment as a cooked lunch… READ MORE @ The New Economy
