Meal replacements such as shakes and nutrition bars have long been a popular DIY option for American dieters. Retail non-prescription appetite suppressants such as fat burners and other diet pills have also been popular. Both products are easy to obtain, inexpensive, and carry no significant side effects.
Companies selling meal replacements lost $1.5 billion in sales to the GLP-1 drugs boom in 2023-2024 — with most of that loss related to Medifast. In response, some meal replacement competitors have added the GLP-1 drugs to their programs to position themselves for a new future. High-protein meal replacements have been positioned as an adjunct to the weight loss drugs.
This market has held up fairly well, and is still growing.
What to Know About the U.S. Meal Replacements Market
Market size and growth: The U.S. meal replacements market was estimated to be worth $5.1 billion in 2024, growing to $5.29 billion this year.
Key segments: Meal replacements sales were $3.0 billion and retail appetite suppressants sales totaled $2.08 billion in 2024.
Declining sales: Most of the $1.55 billion in sales lost during 2023-2024 was attributed to Medifast’s lower revenues.
Consumer usage: Meal replacements are still a popular weight loss DIY option, as they are easily obtained, have no side effects, and are relatively inexpensive.
Positioning pivot: Meal replacements are being positioned as an adjunct to GLP-1 drugs, to retain muscle, due to their high protein content.
MLM channels: Multi-level marketing firms are very active in this market. Medifast had 2024 sales of $602 million and Herbalife posted $567 million. The Atkins line, by Simply Good Foods, generated $492 million. MLM channels account for 32% of all meal replacements sales.
Where to Learn More
For more information, be sure to read Marketdata LLC’s new report The U.S. Meal Replacements Market: Retail & Multi-Level Channels. This updated analysis is the most comprehensive investigation of the U.S. meal replacements market published by anyone worldwide.
About the Author: John LaRosa is the President of Marketdata LLC and is the author of 100+ industry and market studies. His research appears in top media outlets including ABC, CNN, Fox, Forbes, USA Today, The Wall Street Journal, The New York Times, and a variety of trade journals.
