I never saw the point of reducing all this into a single thing and declare that too much of is it bad.
P.S. In many ways "junk food" is still better than either, despite the pejorative tone.
Meal replacement shakes like Huel would be considered “ultra processed” because they contain various industrially produced ingredients (artificial sweeteners, gums, extracts etc).
The evidence seems to suggest that less processed are healthier, particularly when it comes to these ultra-processed items, not just boiling/frying/cutting etc.
Personally I see these meal shakes being marketed as healthy/for athletes and think of how everyone 50 years ago though margarine was so much healthier than butter.
I don’t pretend huel is perfect, but it’s definitely a meal. I feel good after eating it. Also, I alway have time at work to eat it, even if it’s only 7 minutes (which is quite often), and time to make it in the morning.
For me, huel is definitely better than the meals it replaced, and the other things that I could make/consume with the time and budget available.
I don't know much about enriching ingredients in the US, but where it's done, it's to prevent diseases you can get from missing them, or which can cause other health problems. Folic acid, which is in your list, is well known as a recommended supplement for pregnant women, since it dramatically reduces incidence of spina bifida in newborns. Niacin is better known as vitamin B, and it's a similar story.
In this case the enriched flour in the commercial bread presumably isn’t concerning, but I would prefer bread without added sugar and all of the various preservatives and emulsifiers.
Research is ongoing but shows some potential impact re emulsifiers and their impact on the gut: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9331555/
And some indication that one of the preservatives can have behavioral effects in kids: https://pubmed.ncbi.nlm.nih.gov/12173999/
It helps that other countries have them too. It's hard to corrupt the entire world. I wouldn't worry (yet) about individual studies claiming some possible interaction, especially if they bunch up manky things (say, aim to study all emulsifiers at once, or all processing at once).
I would worry if, say, an additive was banned in many countries. And there's much that we know is bad, which is permitted for cultural reasons, and which therefore many people assume can't be that bad (smoked food in particular).
https://cooking.stackexchange.com/questions/45587/how-did-pe...
Huel (standard) is grinded seeds, oats, tapioca, brown rice, pea protein, flaxseed, coconut, sunflower, and kombucha to be specific
It's not more processed than any other "healthy" food.
Where do we suppose the fiber goes to?
Not an expert.