The meal kit delivery service market is simmering with potential, poised to reach a staggering US$ 65,630.6 million by 2033. Fueled by a 14.6% annual growth rate, this presents a golden opportunity for industry leaders to elevate their offerings and capture a larger share of the market.
Why Meal Kit Delivery is Served Hot:
- Convenience Meets Home Cooking: Busy consumers crave home-cooked meals but lack the time for grocery shopping and elaborate preparation. Meal kits offer a time-saving solution while allowing consumers to enjoy the satisfaction of preparing a delicious meal.
- Beyond Convenience: The Rise of Ready-to-Eat Options: Consumers seeking even greater convenience can choose partially prepared meals requiring minimal assembly or heating. This caters to a wider audience with diverse time constraints.
- Diversity is the Spice of Life: Meal kits are no longer limited to traditional cuisines. The market offers a vibrant selection of premium ingredients, exotic dishes, and gourmet experiences, catering to adventurous palates.
- Ecommerce: The Delivery Powerhouse: The online boom has revolutionized meal kit delivery. Easy ordering and seamless delivery through e-commerce platforms ensure a frictionless user experience.
- Catering to Dietary Needs: The rise of vegetarian and vegan diets creates a significant growth opportunity. Meal kits featuring plant-based options offer convenience and deliciousness for health-conscious consumers.
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Become a Leader in the Meal Kit Revolution:
- Go Beyond Basics: Offer a diverse range of meal kits with options for every palate and dietary preference.
- Embrace Technology: Invest in user-friendly online platforms and seamless delivery processes for optimal customer convenience.
- Partner with Local Farms: Source fresh, high-quality ingredients from local producers, building a reputation for sustainability and supporting your community.
- Personalize the Experience: Offer customizable meal options catering to specific dietary needs and preferences.
- Leverage Social Media: Showcase the appetizing appeal and convenience of your meal kits on social media platforms, engaging with your target audience.
Consumers can access various cuisines and food preparations through meal kit delivery services. The type of food delivered by meal kits ranges from everyday eating to premium food. Gourmet meal kits are also seeing an increase in demand.
“With the rising trend of veganism and vegetarianism, vegan and vegetarian meal kits are gaining popularity. Sugar-free, gluten-free, and keto-rich meal kits are also witnessing an increase in demand, providing opportunities in the meal kit delivery service market,” says Sneha Varghese (Senior Consultant, Consumer Products & Goods).
Key Takeaways from the Meal Kit Delivery Service Market
- The meal kit delivery service market’s size is estimated to be US$ 16,798.1 million in 2023.
- Heat & eat meal kits are the most popular offering in the meal kit delivery service industry. In 2023, the heat & eat meal kits account for 61.3% of the market share by offering type.
- Vegetarian meal kits are experiencing a surge in popularity. In 2023, vegetarian meal kits account for 36.4% of the market share by meal type.
- The pace of progress in Japan is expected to be rapid for the market. The Japanese market is predicted to grow at a CAGR of 9.7% from 2023 to 2033.
- Rapid growth is also anticipated in France. For the forecast period from 2023 to 2033, the market is projected to grow at a CAGR of 9.2% in France.
- The CAGR for Germany and the United Kingdom is predicted to be 8.4% and 7.8% through 2033, respectively.
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Competition Analysis of the Meal Kit Delivery Service Market
Investments in technology to make the delivery process more convenient is a strategy adopted by players in the market. Well-established brands compete with small-scale and medium-scale players in the market. Some prominent companies in the market include
- Blue Apron LLC
- Hello Fresh Group
- Sun Basket
- Relish Labs LLC
- Gobble
- Marle Spoon Inc.
- Purple Carrot
- Hungryroot
- Others (on request)
Recent Developments in the Meal Kit Delivery Service Market
- In October 2023, UK company Wonder Group acquired well-known industry player Blue Apron and entered the meal kit delivery service market.
- In December 2022, Gobble was acquired by Intelligent Foods. Gobble is reputed to provide meal kits that are ready to eat in a short amount of time.
- In November 2020, Factor75 was acquired by market giants HelloFresh. Factor75 has earned a name for supplying plant-based meal kits.
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Key Segments
By Offering Type:
- Heat & Eat
- Cook & Eat
By Meal Type:
- Vegetarian
- Vegan
- Non-vegetarian
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About the Consumer Products Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the consumer products team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs.
With a repertoire of over 1,000 reports and one million+ data points, the team has analyzed the consumer products industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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