Market Overview:
The Meal Kit Market was estimated at USD 15.21 Billion in 2021, and is projected to reach USD 46.75 Billion by 2028, growing at a CAGR of 17.4% over the analysis period.
Meal Kit is a concept newly introduced in the food and beverage sector, where the customer gets a half cooked or fully cooked meal at their doorstep. These services are designed to reduce the hassle of grocery shopping and meal planning, and to re-create the restaurant dining experience in an individual's desired location or home. Meal kits also provide customers with customized food ingredients of their choice for their families or individual use. Since the meal set service helps the customer to choose the healthy ingredients for his healthy life all year round, this turns out to be a major factor in the development of the meal set market. The growing preference for home meals among the younger generation or millennials is expected to be a major factor contributing to the growth of the meal ware market.
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The Meal Kit Market Research report includes value chain analysis for each type of product. Value chain analysis provides in-depth information about adding value at each stage. The study includes the drivers and constraints of the Meal Kit Market along with their impact on demand during the forecast period. The study also provides key market indicators that influence market growth.
Top Key Players Covered In Meal Kit Market:
- Sunbasket(San Francisco)
- Home Chef (United States)
- EveryPlate (New York)
- Blue Apron (USA)
- Gobble (San Francisco)
- HelloFresh (German)
- Green Chef (New York)
- Purple Carrot (US)
- Cook it (Canada)
- Plated (USA)
- My Food Bag (New Zealand)
- Home chef (Chicago), and other major players.
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Segmentation Analysis Of Meal Kit Market:
By Offering:
The cook and eat segment dominates the global meat kit market and holds the largest revenue share. Growing demand for healthy food ingredients and the trend of cooking food at home worldwide is expected to expand the market of cook and eat meal delivery services over the projected period.
By Service:
The single service segment is accounted for the largest revenue and is expected to dominate the meal kit market in the estimated years. The service segment mostly dominates for single end user as many people worldwide who are working, seek for such meal kits on a large scale.
By Platform:
The online segment holds the highest share and is expected to dominate further in the upcoming years. Owing to the post pandemic era, many consumers have shifted their preferences of food consumption to healthy and safe food.
By Meal Type:
Non-vegetarian meal kit delivery service segment held the largest revenue share and dominated the meal kit market, and is estimated to continue its dominance in the upcoming years. This can be attributed to the popularity of non-vegetarian meal kits worldwide as well as the nutritional value associated with this segment.
By Offering:
- Heat & Eat
- Cook & Eat
By Serving:
- Single
- Multiple
By Platform:
- Online
- Offline
By Meal Type:
- Vegetarian
- Non-vegetarian
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Regional Analysis Of Meal Kit Market:
North America dominated the meal kit market and accounted for the largest share in the recent years. A large number of consumers opt for these kits in this region as they are cost effective as well as save time.
By Region:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Covid-19 Impact Analysis On Meal Kit Market:
The outbreak of the COVID-19 epidemic drastically changed customer behavior at first, but later a noticeable increase was observed in the online food delivery sector, which was the start of many meal delivery sellers. With millions of families forced to stay at home, restaurants and hotels closed, and fear spread among the people of contracting the virus, the meal kit market has seen a vibrant growth. Because the meal kits are home delivered, healthy and delicious, they have enjoyed great success in all markets. During COVID-19, consumers have switched to meal kits very quickly.
Scope Of The Market:
| Report Metric | Details |
| Market size available for years | 2016-2021 |
| Base year considered | 2021 |
| Forecast period | 2022–2028 |
| Forecast units | Billion (USD) |
| Segments covered | Type, Application, and Region |
| Geographies covered | North America, APAC, Europe, MEA, and Latin America |
Reasons To Buy The Report:
- To identify the main subsegments of the Meal Kit market to comprehend its structure.
- Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Meal Kit manufacturers for the next few years.
- To examine the Meal Kit in terms of specific expected growth, career outlook, and market share contribution.
- Analyze commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
- To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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