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Learn more47 pages, Mar 2015
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Increased exposure to international trends via the Internet and overseas travel boosted the sophistication level of consumers in recent years. This has increased their willingness to try various products, such as convalescence, which can aid them in the recovery process instead of relying on traditional recipes. The ageing population in Hong Kong is also leading to an increase in consumers’ image and health consciousness, also benefiting meal replacement. With this, meal replacement products recorded 6% retail value growth in 2014, though at a lower rate than in 2013. The slower performance reflects the natural maturity of the category and the retreat of USANA from the Hong Kong market.
Herbalife International led meal replacement products with a retail value share of 52% in 2014, a slight increase from 2013. The company continued to face strong competition from smaller players in meal replacement slimming in 2014, affecting its position. However, its comprehensive product portfolio, coupled with its multi-level marketing network, helped to maintain its leadership over the year.
Meal replacement is expected to register a constant value CAGR of 3% over the forecast period, though slower than that of the review period. This is mainly due to the increased maturity of meal replacement products in coming years, making the huge spikes in growth experienced over the review period unlikely.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Meal Replacement industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Meal Replacement industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Meal Replacement in Hong Kong, China market research report includes:
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Why buy this report?
This industry report originates from Passport, our Packaged Food market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.