Meal Kit Delivery Service Market Soars as Convenience and Health Drive Consumer Demand
SkyQuest projects that the meal kit delivery service market will attain a value of USD 53.68 billion by 2030, with a CAGR of 14.70% over the forecast period (2023-2030). Consumers are becoming health-conscious and focusing on eating at home rather than consuming processed food or going out to eat. The demand for home-cooked meals is also rising because consumers are becoming more hygiene-oriented. Additionally, homemade food is regarded as healthier than processed or fast food. According to a study funded by the Johns Hopkin School of Public Health, “people who frequently cook meals at home eat healthier and consume fewer calories than those who cook less.”
Westford, USA, June 16, 2023 (GLOBE NEWSWIRE) — According to the SkyQuest, meal kit delivery service is becoming much popular due to their efficiency in terms of cost and time. For example, restaurant meals are over five times more expensive than home cooking. Additionally, since the meal kit supplies ingredients in the right amounts, the cooking time is reduced. Other factors influencing the meal kit delivery service market include the consumer shift towards urbanization, rising per capita income and shifting lifestyles.
Browse in-depth TOC on “Meal Kit Delivery Service Market”
- Pages – 260
- Tables – 110
- Figures – 67
Meal kits are a type of food subscription service in which the consumers receive pre-portioned or partially prepared food supplies and recipes to prepare meals at home. The idea of meal kit delivery services was first introduced in Europe in 2007 and since then it has gained popularity along with trending in other countries. Instead of delivering ingredients with meal delivery services, the company offers pre-cooked meals. Although the service is new to the customers, there is a high demand due to several positive factors, including rising consumer hygiene awareness, millennials’ popularity as cooks, and cooking shows’ ability to encourage people to experiment with new foods at home.
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Prominent Players in Meal Kit Delivery Service Market
- Blue Apron, LLC
- EveryPlate
- Freshly Inc.
- Gobble
- Green Chef Corporation
- HelloFresh
- Relish Labs LLC (Home Chef)
- Hungryroot
- Marley Spoon Inc.
- Purple Carrot
- Fresh n’ Lean
- Takeout Kit
- bistroMD, LLC’
- CookUnity
- Fresh and Easy
- Sun Basket
- Factor75 LLC
- Trifecta Inc.
- Snap Kitchen, LLC
- Daily Harvest
- Splendid Spoon
- Diet-To-Go
- RealEats
Online PlatformSegment is Anticipated to Grow Due tothe Rising Demand for Services
The online platform segment held the highest market share of over 61.0%. Numerous small neighbourhood businesses have started offering meal kit delivery services in response to the rising demand. People are accustomed to receiving local cuisine from these kit delivery services. Additionally, locally grown fruits and vegetables are included in the meal kit sold offline.
North America is anticipated to dominate the market for meal kit delivery service during the forecast period. North Americaheld around a third of the global market share. However, the largest contributor to the local market is the United States.
Heat-and-eat Segment is Anticipated to Grow Due to the RisingConsumers Evolving Lifestyles
The heat-and-eat segment, which will hold a 60% share of the global industry. The segmental growth is anticipated to be driven by consumers’ evolving lifestyles, particularly those of millennials, during the forecast period. One of the main drivers for the growth is busy lifestyles and stressful schedules. The heat-and-eat option is superior to alternative options in several waysincluding time and energy savings and convenience. The ability to prepare and consume heat-and-eat meals at any time of day by simply heating them is beneficial to customers who work irregular hours. Additionally, heat-and-eat meals offer a speedy resolution for families with members who have varying food preferences.
Asia-Pacific is predicted to have the fastest rate of growth. Countries such as China, South Korea, India and Japan contribute to regional growth. It is anticipated that the market will be driven by the rising levels of development in all areas of the economy, including China and India. The growth of the region’s market is anticipated to be fueled by these regions becoming manufacturing hubs, which are anticipated to create employment.
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A comprehensive analysis of the major players in the Meal Kit Delivery Service market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Meal Kit Delivery Service Market
- The Meal Kit, Delivery Service components, were introduced in 2021 by Cosucra Groupe Warcoing S.A., a Belgian company, under a number of brand names, including Swelite, Nastar, Fibruline, and Pisane.
- The expansion of the Meal Kit Delivery Service root production factory in Chile was announced in March 2020 by the German-based Südzucker Group. The capacity expansion is anticipated to accommodate the rising demand for root fibres at an estimated project cost of USD 58.9 million.
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Key Questions Answered in Meal Kit Delivery Service Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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