Vegan Meal Replacement Shakes Global Market Report 2025

The vegan meal replacement shakes market size has grown rapidly in recent years. It will grow from$2.48 billion in 2024 to $2.78 billion in 2025 at a compound annual growth rate (CAGR) of 12.1%. Growth during the historic period can be attributed to increasing awareness of plant-based nutrition, a rise in lactose intolerance and dairy allergies, growing ethical and environmental concerns, heightened demand for convenient, on-the-go nutrition, and the rising popularity of fitness and wellness trends.

The vegan meal replacement shakes market size is expected to see rapid growth in the next few years. It will grow to$4.34 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. Projected growth in the forecast period can be linked to ongoing innovation in vegan protein sources, an expanding health-conscious consumer base, growth in e-commerce and direct-to-consumer (DTC) distribution, increased investment in sustainable food technologies, and rising government and institutional support for plant-based diets. Key trends expected in the forecast period include advancements in plant-based protein extraction methods, incorporation of functional ingredients, technology-driven personalization of nutrition, developments in sustainable packaging solutions, and progress in flavor masking and formulation science.

The increasing adoption of vegan and vegetarian lifestyles is expected to drive significant growth in the vegan meal replacement shakes market moving forward. Veganism involves abstaining from all animal products and by-products such as meat, dairy, eggs, and honey, while vegetarianism excludes animal flesh but may still include dairy and eggs. This shift in dietary preference is largely fueled by a growing awareness of the environmental impacts of animal agriculture, encouraging consumers to make more sustainable and ethical food choices. Vegan meal replacement shakes cater to this demand by providing a convenient and balanced source of essential nutrients without relying on animal-derived ingredients. These products help fill dietary gaps with adequate protein, vitamins, and minerals, while supporting sustainability by reducing dependence on animal agriculture. For example, in January 2024, Retail Times, a UK-based news outlet, reported that 2.5 million UK adults - approximately 4.7% of the population - were following a vegan diet, marking an increase of 1.1 million compared to the previous year. Thus, the rising popularity of veganism and vegetarianism is propelling growth in the vegan meal replacement shakes market.

Companies in this market are increasingly investing in technological advancements and innovative product launches focused on plant-based nutrition to improve product effectiveness, taste, and digestibility. Plant-based nutrition emphasizes foods derived primarily from plants, offering a cleaner and more natural dietary option. For instance, in August 2024, Drink Wholesome, a US-based protein powder producer, launched a new vegan meal replacement powder featuring black walnuts - a unique addition in the market. This product is made entirely from whole food ingredients such as almonds, oats, coconut, and monk fruit, and is free from common additives like emulsifiers, thickeners, dairy, soy, and gluten, making it highly digestible and suitable for sensitive stomachs.

In May 2025, Danone S.A., a France-based food company, acquired Kate Farms Inc., a US-based manufacturer specializing in organic, plant-based medical nutrition formulas. This acquisition aims to bolster Danone’s position in the growing plant-based and medical nutrition sectors in the United States by leveraging Kate Farms’ expertise to expand its specialized nutrition portfolio.

Major players in the vegan meal replacement shakes market are Herbalife Nutrition Ltd., MyProtein, Ample Foods, Garden of Life LLC, Huel Ltd, YFood Labs GmbH, Orgain Inc., Ripple Foods PBC, Nuzest Life Pty Ltd, Labrada Nutrition, Soylent Nutrition Inc., Saturo Foods GmbH, Only What You Need (OWYN), 310 Nutrition LLC, Jimmy Joy B.V., Tribal Nutrition LLC, Purition Ltd, HLTH Code LLC, Danone S.A., and Livestamin Healthcare LLP.

North America was the largest region in the vegan meal replacement shakes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in vegan meal replacement shakes report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the vegan meal replacement shakes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Vegan meal replacement shakes are nutritionally balanced beverages made entirely from plant-based ingredients, intended to substitute one or more daily meals. These shakes serve as convenient, plant-based nutrition options that deliver essential vitamins, minerals, protein, and calories for individuals seeking a quick, healthy meal on the go or those adhering to a vegan lifestyle.

The main categories of vegan meal replacement shakes include ready-to-drink (RTD) liquid beverages and powdered solids. Ready-to-drink liquid beverages are pre-packaged, pre-mixed drinks sold in a form that requires no preparation. Ingredients commonly used include soy protein, pea protein, hemp protein, rice protein, among others. These products are distributed through various channels such as supermarkets and hypermarkets, health food stores, online platforms, and additional distribution networks.

The vegan meal replacement shakes market research report is one of a series of new reports that provides vegan meal replacement shakes market statistics, including vegan meal replacement shakes industry global market size, regional shares, competitors with a vegan meal replacement shakes market share, vegan meal replacement shakes market segments, market trends and opportunities, and any further data you may need to thrive in the vegan meal replacement shakes industry. This vegan meal replacement shakes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vegan meal replacement shakes market consists of sales of plant-based protein powders, ready-to-drink shakes, powdered meal replacements, nutritional supplements, and nutrient-fortified vegan smoothie mixes. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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