Meal Kit Delivery Services Market Size, Share & Trends Analysis Report By Offering, By Service, By Platform, By Meal Type And Segment Forecasts From 2022 To 2030

Report ID: MN17620256  |  Published: November 2022  |  No of Pages: 136
Format: Electronic (PDF)  |  Industry: Food & Beverage

The global meal kit delivery services market size is poised to total USD 64.3 billion by 2030. The market has accumulated a valuation of USD 15.21 billion in 2021 and further, the market is preceded to register growth at a CAGR of 17.4% from 2022 to 2030. Increasing prominence and adoption of meal delivery services are accrediting the market growth across the globe. The affordable and healthier meal kit services are offering alternatives to meals for customers. Moreover, the companies indulging the market are focusing on improving customer services to gain a competitive edge. For instance, Blue Apron, a leading company witnessed increased demand for meal kits food in March 2020.

The COVID-19 outbreak has positively impacted the market. Due to stringent lockdown restrictions, restaurants, eateries, and hotels were shut down. Thence, the population shifted their inclination towards home-cooked meals and delivery outlets. Moreover, during the pandemic, most people initiated healthy diet alternatives for increasing their immunity and maintaining a balanced diet. A large number of consumers were looking for healthy and easy-access meal options for day-to-day consumption. Moreover, the companies operating in the market have gained tremendous sales during the pandemic as compared to past years. For instance, HelloFresh, a U.S. leading company operating in the market has witnessed an increase of 66% in Y-O-Y revenue in 2020.

The wide range of food options available has made homemade meal kits time-saving as compared to takeout and restaurants. This way customers have control over the ingredients of the meals. They can change their preference as per their convenience and choose certain food products. Thus, the demand for meal kit delivery services is foreseen to increase in future years.

In April 2020, according to a Survey by HUNTER, around 22% of the population preferred meal kits more frequently in the U.S. Millennials and boomers are increasingly staying at home and dining in rather than spending at restaurants and outside food outlets. The key factor contributing to the meal kit delivery services market expansion is the shift of attitudes of people toward meal deliverables and expenses

Meal Kit Delivery Services Market Key Takeaways

  • The cook-and-eat segment accounted for over 60.7% of the total market share in 2021. The segment dominated the market and is expected to continue dominance during the forecast period. The segment has helped save time over the conventional method of cooking. Whereas the heat and eat segment is predicted to deliver the growth a CAGR of 17.8% from 2022 to 2030. The segment is gaining prominence due to the easy accessibility of products.
  • The single delivery service segment led the market accounting for over 57.8% of the total market share in 2021. The single services segment has the largest end users and most of them are youngsters. Due to insufficient bank balance, the single service segment is convenient and affordable for bachelors staying away from home. Moreover, healthy food demand by millennials is driving the segment growth.
  • The online segment accounted for the largest market revenue share of 63.2% in 2021. The established online platforms have gained tremendous traction over the period. The key factors of the segment growth are the flexibility of the service providing working hours, delivery within a certain amount of time .and the wide range of availability of food items.
  • The non-vegetarian segment accounted for over 63.7% of the total market revenue share in 2021. The constitution of proteins, vitamins, minerals, and other nutritional aspects makes non-vegetarian food appealing to a large number of people. Nowadays people are inclined to fitness and muscle-building advantages. Hence to gain strength, non-vegetarian food consumption is increasing rapidly. This, in turn, accelerates the market growth
  • Rising preference for fresh, healthy, and plant-based foods, the vegetarian meal kits segment is predicted to showcase growth at a CAGR of 17.6% during the forecast period. Vegetarian meal offers antioxidant and fiber properties and various health benefits.
  • North America led the market accounting for over 46.2% of the total market revenue share in 2021. To save time and effort in the busy lifestyle of the region, the demand for meal kit delivery services is propelling with a significant growth rate during the forecast period.
  • The market in the Asia Pacific is forecasted to register growth at a CAGR of 18.8% from 2022 to 2030. Japan, Korea, and China have become key markets for the increasing preference for meal kit delivery services. Moreover, India, Singapore, Sri Lanka, and South Korea have contributed to the market expansion in the region due to their vegetarian meal kit preferences.

 

Meal Kit Delivery Services Market segments

  • Meal Kit Delivery Services Offering Outlook (Revenue, USD Million, 2017 - 2030)
    • Heat & Eat
    • Cook & Eat
  • Meal Kit Delivery Services Outlook (Revenue, USD Million, 2017 - 2030)
    • Single
    • Multiple
  • Meal Kit Delivery Services Platform Outlook (Revenue, USD Million, 2017 - 2030)
    • Online
    • Offline
  • Meal Kit Delivery Services Meal Type Outlook (Revenue, USD Million, 2017 - 2030)
    • Vegan
    • Vegetarian
    • Non-Vegetarian
  • Meal Kit Delivery Services Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • Japan
    • Central & South America
      • Brazil
    • Middle East & Africa
  • Key players of the Meal Kit Delivery Services Market
    • Blue Apron, LLC
    • Freshly Inc.
    • HelloFresh
    • Sun Basket
    • Relish Labs LLC (Home Chef)
    • Gobble
    • Marley Spoon Inc.
    • Purple Carrot
    • Fresh n' Lean
    • Hungryroot
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