Meal Replacement Market to Reach $2.2 Billion in 2011

SANTA MONICA, Calif.Escalating obesity rates and consumer demand for convenient foods products are two of the primary factors driving the $2.2 billion meal replacement product manufacturing sector, according to a new report from market research IBISWorld.

According to the Meal Replacement Product Manufacturing in the US: Market Research Report," the opportunity for makers of prepackaged powdered drink mixes, ready-to-drink beverages or edible bars is ripe. Industry revenue increased by an average of 6.9% per year from 2006 to 2011, and revenue is expected to grow 9.3% in 2011.

The report provides the latest industry statistics and industry trends, and identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.