Wilmington, Delaware, United States, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global meal kit market stood at US$ 8.4 billion in 2022, and the global market is projected to reach US$ 44.6 billion in 2031. The global meal kit market is anticipated to expand at a CAGR of 20.4% between 2022 and 2031.
In the dynamic landscape of the meal kit market, the non-vegetarian meal type segment takes the lead and is projected to hold the largest share during the forecast period. This dominance can be attributed to the robust demand for non-vegetarian meal kits, which consistently outpaces the demand for vegan or vegetarian alternatives. Vendors have responded to this trend by offering a diverse array of fresh, value-added, and healthful meat options, catering to the preferences of a broad customer base.
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While non-vegetarian options currently dominate, the vegetarian and vegan meal segments are poised for significant growth shortly. This shift is driven by an upsurge in the preference for plant-based meals and an increase in the vegan population. Additionally, the market benefits from the growing prevalence of lactose intolerance and various dietary allergies, further fueling the demand for vegan meal kits.
Recognizing the expanding interest in vegan choices, several vendors in the meal kit market have incorporated vegan meal kits into their offerings. Examples include Purple Carrot, a dedicated plant-based meal kit company offering specialized performance meals for professional athletes and vegan options.
Within the market's offerings, the cook-and-eat segment is anticipated to dominate, reflecting the surging demand for healthy food ingredients and the growing preference for home cooking. Customers turn to cook-eat meal kits to save time and effort while enjoying the satisfaction of preparing a meal at home. These kits have evolved into affordable and health-conscious alternatives to pre-cooked food items in grocery stores or takeout establishments.
Global Meal Kit Market: Key Players
- Blue Apron has joined forces with Amazon, Inc. to offer a seamless dining experience, allowing customers to conveniently order individual Blue Apron meal kits using voice commands through Alexa-enabled devices. This collaboration enhances accessibility to Blue Apron's culinary offerings, catering to the preferences of a broader audience.
- Blue Apron has expanded its reach by introducing a range of single-purchase meal kits on the Walmart Marketplace, making its culinary offerings accessible to a broader customer base through this strategic partnership.
Key Takeaways of Market Report
- Global meal kit market to generate absolute dollar opportunity worth US$ 44.6 billion until 2031.
- Global meal kit market is valued at US$ 7 billion in 2021.
- The global meal kit management market value from 2018 to 2022 is 18.2%.
- North America is forecasted to hold a market share of 33.68%.
- Asia Pacific is expected to have a value share of 26.9%.
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Global Meal Kit Market: Growth Drivers
- Meal kits offer a seamless cooking experience, making it easy for consumers to explore new ingredients and recipes. They come with user-friendly instructions, culinary tips, and precisely measured components required to prepare a complete meal.
- This eliminates the need for consumers to navigate complex recipes or worry about ingredient quantities. As a result, meal kits are empowering consumers to embark on culinary adventures with confidence.
- Meal kits have introduced a new dimension of culinary convenience by offering subscription choices tailored to consumers' preferences. These subscriptions empower customers to curate their meal experiences according to their dietary requirements, allowing a personalized approach to their eating habits. Consumers have become increasingly mindful of their eating habits and nutritional intake.
Global Meal Kit Market: Regional Landscape
- North America is poised to maintain its dominance in the meal kit industry. This leadership position is attributed to the rising demand for convenient cooking solutions that cater to time-pressed individuals, particularly within the region's large working population.
- To remain competitive, meal kit vendors in North America are actively differentiating their offerings, ensuring that they continue to meet consumers' evolving culinary needs and preferences in this dynamic market.
- The meal kit industry in the Asia Pacific is poised for substantial growth throughout the forecast period. The increased adoption of meal kits in countries like Japan, South Korea, and China is driving the region's thriving market.
- The rising population of working professionals in Asia Pacific is expected to stimulate the demand for meal kits further as consumers increasingly seek convenient and time-saving culinary solutions to meet their busy lifestyles.
Global Meal Kit Market: Segmentation
Meal Type
- Vegan
- Vegetarian
- Non-vegetarian
Offering
- Heat & Eat
- Cook & Eat
Serving
- Single Serving
- 2-4 Serving
- Above 4 Serving
Pricing
- Economical
- Premium
Delivery Type
- Online
- Offline
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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