According to Future Market Insights, the global chilled meal kits market size is expected to grow from US$ 10,062 Million in 2023 to US$ 26,436.6 Million by 2033. Overall sales of chilled meal kits are projected to rise at an impressive CAGR of 16.3% between 2023 and 2033.
Rising consumer demand for convenient prep meals across the world is a key factor driving the global chilled meal kits market industry forward and the trend is expected to continue during the forecast period.
Chilled meal kits are convenient for consumers as they provide them with pre-made ingredients or items required to cook meals at home quickly. They help them to save their precious time as they do not have to go through the hassle of buying all separate ingredients and spending time preparing each dish from scratch.
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The growth of this market will also be fuelled by an increase in consumers’ interest in healthier eating options that can be fixed quickly but still taste great. This demand is being met with constant innovation from meal kit providers who tailor their offerings according to customer needs and trends in different parts of the World.
Similarly, factors such as changing lifestyles and eating habits, rapid urbanization, and busy schedules are expected to generate high demand for chilled meal kits during the forthcoming decade.
Key Takeaways from Market Study
- Overall demand for chilled meal kits is anticipated to rise at 16.3% CAGR from 2023 to 2033.
- Based on product, the vegetarian segment is poised to grow at a higher CAGR during the forecast period.
- North America and Europe together hold the largest market share of the worldwide chilled meal kits industry.
- The U.K. chilled meal kits market is projected to grow at a CAGR of 12.6% between 2023 and 2033.
- India’s chilled meal kits market is projected to grow at 20.0% CAGR over the assessment period.
- Currently, the U.S. holds a share of 33.2% in the global chilled meal kits market.
“In the long run, the increased focus on chilled meal kits consumption in developed regions such as North America and Europe is projected to provide profitable opportunities for market participants. “, -says Nandini Roy Choudhury ( client Partner for Food and Beverages at Future Market Insights, Inc.)
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Who is Winning?
There has been an increase in the number of suppliers, manufacturers, and distributors operating in the chilled meal kits market space during the last few years as more and more consumers are demanding higher-quality meal kit products.
In response to growing market demand for chilled meal kits, manufacturers have stepped up production capabilities. They are using innovative strategies to streamline operations, such as automation and advanced robotics technologies. This has helped them reduce costs while increasing their output efficiency. As a result, many of these manufacturers have been able to grow their presence in the global market by expanding into new countries or regions. At the same time, retailers have responded by providing a wide selection of chilled meal kits on their shelves.
Key players in the global chilled meal kits market are Tyson Foods, Inc. (Tyson Taste Makers), Hello Fresh SE, Campbell’s, Home Chef (The Kroger company, Blue Apron Holdings, Inc., Gousto, Martha &Marley spoon, Sun basket, Lina’s Mat kassel (LMK Group AB), My Food Bags Ltd, Dinner (MMM Consumer brand Inc.), Purple carrot, Gobble Inc., and Hungry root.
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Future Market Insights, in its new offering, provides an unbiased analysis of the Chilled Meal Kits presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the demand for chilled meal kits based on the product (vegetarian and non-vegetarian (poultry-based, beef-based, pork-based, seafood-based), customer age (18-30,31-45,45-60, 60 onward), gender (female, male), and sales channel (stored-based retailing, modern grocery store (convenience store, discounters, hypermarket, supermarket) traditional retailers (food specialist, independent small grocers, other grocers), online retailing/delivery, direct sales) and across seven major regions.
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Frequently Asked Questions
- How big is the global market for chilled meal kits?
- At what rate is the demand for chilled meal kits expected to rise between 2023 and 2033?
- What is the projected valuation for the global chilled meal kits market?
- Which are the major countries driving demand for chilled meal kits?
- At what rate will the market for chilled meal kits grow in China?
- How will growth unfold in the U.K. market?
- What is the demand outlook for the Indian market?
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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