As per Future Market Insights (FMI), plant based meal kits are a convenient way to get fresh, pre-portioned ingredients with detailed recipes that make it easy to cook meals at home. All these factors will provide an opportunity for growth in Europe and help the U.K. to account for a 22.0% share in the global plant based meal kit market. It is anticipated that the global plant based meal kit market is set to be valued at around US$ 2,528.5 Mn by 2032.
As people become conscious about their consumption, demand for plant-based meal kits is likely to rise. In addition, plant based meal kits offer convenience and time savings, which make them attractive to time-strapped consumers.
With busy lifestyles, the need to have healthy, pre-prepared meals that are easy to cook at home is increasingly growing. As consumers prioritize convenience and health when it comes to their food choices, plant-based meal kits are likely to see a surge in terms of demand in the U.K., Germany, and Italy.
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Also, convenience makes plant based meal kits an enticing option for busy consumers who may not have time to visit the grocery store every week or may not have access to fresh produce in their local area. Furthermore, the affordability of many plant based meal kits means that even those with limited budgets can enjoy tasty and healthy meals without breaking the bank. It is hence projected to increase the demand in Europe.
Plant-based meal kits come with pre-measured ingredients and instructions, making them easy to prepare regardless of one’s cooking experience level. These hassle-free recipes mean that even novice chefs can enjoy delicious and nutritious meals quickly and easily.
Finally, a broad variety of flavors offered by plant-based meal kits ensures that no two dinners will be the same, making this an exciting option for those looking to add variety and creativity to their weekly menus. In September 2022, Grubby, the U.K.’s first plant based recipe kit provider, sought nearly £3 million in a crowdfunding round for international expansion.
The start-up has already bagged approximately 19% month-on-month revenue growth in 2022. The new funding would enable the company to refine its existing technology and expand its presence across the globe. Similar strategies by start-up companies across Europe would help boost sales of plant based meal kits in the next ten years.
Key Takeaways from the Europe Plant Based Meal Kit Market
- The global plant based meal kit market is projected to accelerate at an astonishing CAGR of 5% during the assessment period (2022-2032).
- Sales in the global plant based meal kit market are likely to surpass a valuation of US$ 954.2 Mn in 2022.
- K. plant based meal kit market is expected to witness robust growth during the forecast period.
- Rising demand for convenient vegan food options in Europe is estimated to spur the demand for plant based meal kits.
“Growing demand for convenient and frozen plant based meal kits due to hectic lifestyles is anticipated to stimulate demand in Europe. Hence, key companies are concentrating on developing innovative products to attract more customers for promoting creative cooking.”– Says an FMI Analyst.
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Competition Landscape in the Europe Plant Based Meal Kit Market
Key companies in Europe are innovating plant based meal kits that would help in encouraging customers to enjoy creative cooking. In addition, these players are collaborating with other plant based food giants to enlarge their market share and gain profits.
Flavorists, Hello Fresh, and V2 Food are key companies in the Europe plant based meal kit market.
Recent Developments:
- In November 2022, LessMeat, a vegan start-up based in Yorkshire, introduced the world’s first plant based meal kits for adults in the U.K. The box contains a 2 course meal kit with vegan squirty cream surprise, lube, recipe, and pick & mix game. The company aims to bring in beginner cooks out there to master various dishes as the kit comes with step-by-step cooking instructions.
- In March 2022, A new plant-based meal kit company called Flavorists debuted in the U.K. The brand, which will be available in Waitrose, Booths, and Ocado in April, is supported by the well-known British food producer Samworth Brothers. Meal kits and novel flavors were uncovered by the Flavorists as two developing trends, with customers increasingly preferring quick and easy home cooking options. The firm says that its new plant-based meal kit will encourage consumers to rediscover creative cooking.
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Plant Based Meal Kit Industry Segmentation: –
By Product Type:
- Plant Based Milk
- Plant Based Dairy
- Plant Based Meat
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Asia pacific
- Eastern Europe
- Western Europe
- Japan
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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