WASHINGTON, July 10, 2023 (GLOBE NEWSWIRE) -- The Global Meal Kit Delivery Services Market is valued at USD 15.9 Billion in 2022 and is expected to reach a value of USD 51.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 18.2% over the forecast period of 2023-2030.
One of the most dominant economic areas is the Meal Kit Delivery Services business, and consistent expansion is expected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for online grocery delivery services, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some key factors are anticipated to accelerate the market growth of Meal Kit Delivery Services over the forecast period. One of the vital factors affecting the demand for Meal Kit Delivery Services is the increasing preference for home-cooked food. Demand for heat and eat food solutions is growing as more people stay home and cook instead of eating out. Also, the meal kit helps consumers save time while cooking food at home.
We forecast that the non-vegetarian and cook-and-eat category from the meal type and offering segment in Meal Kit Delivery Services market sales will account for more than 35% of total sales by 2030 because it is a type of food consumed in large quantities by the population because of a person's energy and nutritional needs also, cook-and-eat category provides customers customizable meal kits based on their nutritional needs.
North America dominates the market and will continue throughout the forecast period, fueled by various factors. The increasing demand for convenience has led consumers to seek time-saving alternatives for cooking meals at home. Meal Kit Delivery Services offer a solution by delivering pre-measured ingredients and step-by-step recipes directly to customers' doorsteps. Also, the rise in health consciousness and the desire for nutritious, home-cooked meals has contributed to the popularity of meal kits. Many meal kit companies focus on providing healthy and balanced recipes, catering to those looking to adopt or maintain a healthy lifestyle.
Market Dynamics
Rising Consumer Preference for Health and Wellness to Drive the Market
Customers that are concerned about their health favor meal-kit services because they value balanced, nutritious meals. These meal delivery services provide pre-portioned, premium ingredients and recipe recommendations customized for particular dietary requirements. Customers are consequently given healthier food options, improving their general health and well-being.
Increased Technological Advancements in Shopping Applications and Websites to Promote Market Growth
The Meal Kit Delivery Services market has grown because of technological advancements such as better websites, mobile application design, quicker delivery times, and improved logistics, which have increased revenue share. Numerous Meal Kit Delivery Services have created mobile apps so that users can order meal kits on their phones. Customers can now easily order customizable meal kits with recipes and prepare them at home according to their preferences.
Top Players in the Global Meal Kit Delivery Services Market
- Blue Apron LLC (U.S.)
- Freshly Inc. (U.S.)
- HelloFresh (Germany)
- Sun Basket (U.S.)
- Relish Labs LLC (U.S.)
- Gobble (U.S.)
- Marley Spoon Inc. (Germany)
- Purple Carrot (U.S.)
- Fresh n' Lean (U.S.)
- Hungryroot (U.S.)
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Top Trends in the Global Meal Kit Delivery Services Market
- One trend that Vantage Market Research (VMR) expects to see in the Meal Kit Delivery Services industry is the demand for fresh and healthy food. As Meal Kit Delivery Services have expanded in variety, they have started catering to specialized dietary requirements like vegetarian, vegan, gluten-free, and keto, which will help consumers easily access healthy and fresh food.
- Another trend that VMR predicts will continue in the Meal Kit Delivery Services industry is retailers expanding their e-commerce platforms and partnering with third-party logistics providers to focus on speed and convenience, including options for same-day and on-demand delivery, packaging innovations that promote sustainability, such as the use of biodegradable materials and waste-reduction packaging designs.
Top Report Findings
- Based on Offering, the Cook and Eat Meal Packages segment will lead throughout the forecast period. The Cook and Eat Meal Packages offers consumers pre-portioned ingredients and recipes to cook meals at home. These packages cater to individuals who enjoy the process of cooking and want to have control over their meals. The segment provides a wide range of options, from traditional recipes to international cuisine, and is popular among food enthusiasts who want to experiment with new flavors and ingredients. The convenience of having all the necessary ingredients delivered to your doorstep makes this segment a convenient choice for busy individuals who still want to enjoy homemade meals.
- Based on Service, the Single Delivery Systems had a larger market share in 2022 and are projected to continue to rule in the forecast period. This segment caters to the growing number of people living alone or those who prefer to cook for themselves. These companies provide meal kits with portion-sized ingredients and easy-to-follow recipes for single servings. Targeting this specific market provides convenience and flexibility for individuals who want to avoid buying large quantities of ingredients or cooking meals from scratch.
- Based on Platform, the Online Platform segment in the Meal Kit Delivery Services market is advancing. With the increasing popularity of online shopping and convenience, customers are turning to online platforms to order their meal kits. These platforms offer various meal options, from healthy and nutritious to indulgent and decadent. Additionally, online platforms allow customers to compare prices, read reviews, and access customer service easily. Overall, the online platform segment is driving the expansion of the Meal Kit Delivery Services market globally.
- Based on Meal Type, the Non-Vegetarian Meals segment in the Meal Kit Delivery Services market is experiencing major growth. This segment caters to the needs of customers who prefer meat, poultry, and seafood in their meals. The market is witnessing the launch of innovative meal kit options, which offer a variety of non-vegetarian dishes from different cuisines. The increasing popularity of non-vegetarian meals among consumers, along with the convenience and efficiency of Meal Kit Delivery Services, is driving the growth of this segment.
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Top 10 Players Generate Majority of the Global Meal Kit Delivery Services Market Revenue
The report also found that the largest key players in the Global Meal Kit Delivery Services Market are Blue Apron Inc., HelloFresh Group, and Sunbasket. These companies are expected to benefit from rising demand for their services and growing investments in new making their services better. Other major players include Marle Spoon Inc., Gobble, Inc., Purple Carrot, and Home Chef. These companies are constantly improving their offerings by introducing new recipes and partnerships with renowned chefs or food brands. They also aim to provide flexibility to customers by offering customizable menus or the ability to skip or pause deliveries.
Heat & Eat Meal Kits Provide Consumers with a Wide Range of Options
Heat & Eat meal kits cater to different dietary preferences and restrictions, including vegan, gluten-free, low-carb, or keto diets. This variety allows customers to choose meals that meet their needs and preferences. In addition, Heat & Eat meal kits offer convenience in terms of portion control and minimize food waste. Each meal is typically portioned for one person, reducing the need to measure ingredients or deal with excess leftovers. This can appeal to individuals trying to manage their dietary intake or reduce food waste.
The Heat & Eat category in the Meal Kit Delivery Services market refers to a specific type of meal kit that provides pre-prepared meals to be heated up and consumed immediately. These meal kits are designed for people who want a convenient and quick meal solution but want to maintain quality and taste. The Heat & Eat category differentiates itself from other categories in the Meal Kit Delivery Services market, such as the Cook-your-own or Ready-to-cook categories, by offering fully cooked meals that only require reheating. This option eliminates the need for meal preparation and cooking, making it an attractive choice for busy individuals or those who lack culinary skills.
One of the key advantages of Heat & Eat meal kits is their convenience. The meals are delivered fully cooked and ready to eat, requiring minimal effort and time. This appeals to working professionals, parents, and individuals needing more cooking equipment or the time to cook elaborate meals. Another benefit of Heat & Eat meal kits is the guarantee of consistent quality. These meals are prepared by professional chefs or culinary teams, ensuring that customers receive delectable dishes with a chef's touch. The ingredients are usually fresh and high-quality, meaning the final product maintains its taste and nutritional value.
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on Meal Kit Delivery Services Market Forecast Report (2023-2030).
Global Meal Kit Delivery Services Market Segmentation
By Offering
- Heat & Eat
- Cook & Eat
By Service
- Single
- Multiple
By Platform
- Online
- Offline
By Meal Type
- Vegan
- Vegetarian
- Non-Vegetarian
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 15.9 Billion |
| Revenue Forecast by 2030 | USD 51.2 Billion |
| CAGR | 18.2% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Blue Apron LLC, Freshly Inc., HelloFresh, Sun Basket, Relish Labs LLC, Gobble, Marley Spoon Inc., Purple Carrot, Fresh n' Lean, Hungryroot |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/meal-kit-delivery-services-market-2176/customization-request |
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