Home meal replacement (HMR) is a kind of buying meals to solve the behavior of cooking meals at home and reduce the time and workload consumed in the process of family meal preparation. It replaces the traditional way of cooking from original ingredients and allows consumers to buy them back and eat them directly.
The COVID-19 outbreak has changed the way we live. It has also changed the food service industry. The most noticeable changes in the food industry include the explosive increase in home meal replacement, meal-kit consumption, online orders, take-out, and drive-through. HMR has been on the foodservice industry’s radar for more than a decade, the difference today is in the number of grocery stores now offering HMR options as well as the increasing quality and range of items. It’s no longer the standard rotisserie chicken, potato wedges and coleslaw; at popular grocery chains, including Ontario- and Nova Scotia-based Sobey’s, Montreal-based Metro, Vaughan, Ont.-based Longo’s and Toronto-based Loblaws, there are now various innovative dishes.
Home Meal Replacement (HMR) mainly includes Ready to Eat (RTE), Ready to Heat (RTH) and Ready to Cook (RTC). Ready to Eat (RTE) accounting 55.05% market share in terms of sales in 2021. The representative HMR products include meal replacement shake, meal replacement congee, meal replacement cereal, meal replacement bar and so on.
The representative players in global Home Meal Replacement (HMR) market are CJ Cheiljedang, Nestle, Herbalife, Kellogg and BY-Health, accounting for 17.32% market share in terms of revenues in 2020. The market concentration rate is not high. Players are concentrated in North America, Europe, South Korea and China. Many new entrants in recent years, especially China, such as Wonderlab (2019), FFIT8 (2019)，Keep (2019), also the new HMR brands attracting much capital investment.
Global Home Meal Replacement (HMR) market size in terms of revenue is projected to reach 168678.08 Million USD by 2027 from 88171.58 Million USD in 2021, with a CAGR 11.42% during 2021-2027. Global Home Meal Replacement (HMR) market size in terms of sales is projected to reach 10951.7 K MT by 2027 from 6132.3 K MT in 2021, with a CAGR 10.15% during 2021-2027.
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