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Short & Long Term Buying Trends in Meal Replacement
- Increased Popularity: Over the last decade, meal replacement products have become increasingly popular as a convenient and healthy way to get a balanced diet. Meal replacement products are widely used for people who are trying to lose weight or simply looking for a more nutritious alternative to fast food. With advances in technology, meal replacement products have become easier to make and cheaper to buy. As such, it has become an attractive option for suppliers and buyers alike.
- Plant-Based Options: In recent years, there has been an increasing trend of health-conscious consumers choosing vegan and plant-based meal replacements instead of traditional animal-based protein sources. This is due to the fact that these products are often more sustainable, cruelty-free, and healthful than their animal counterparts. Vegan meal replacements have also seen an increase in popularity due to their convenience and affordability compared to other vegan alternatives.
Supply Chain Issues in Meal Replacement
- Increasing Cost of Raw Materials: One of the biggest challenges for food manufacturers is the rising cost of raw materials. In recent decades, dramatic spikes in commodity prices have made it difficult to keep up with consumer demand while maintaining profitability. This has particularly been true for meal replacement products, which require a variety of ingredients.
- Currency Risk & Exchange Rates: The global nature of manufacturing and supply chains often exposes companies to currency risk and fluctuating exchange rates. This is especially true for companies that rely on imports from overseas suppliers or exports to foreign markets. When currencies shift rapidly, it can cause significant disruption as pricing and profit margins adjust accordingly.
- Regulatory Compliance: Meal replacement products are highly regulated by governments across the globe due to their health implications and potential allergens. Companies must ensure that they are compliant with all relevant regulations in order to remain competitive, which requires formal certifications, regular testing and monitoring of processes and products.