Global Meal Kit Delivery Services Market Insights:
Meal kit delivery services offer doorstep delivery for various meals within a certain period of time. The delivery service providers provide their subscribed consumers with ready to cook as well as ready to eat meals. The global meal kit delivery services market is expected to grow at a noteworthy pace during the forecast period, according to the research conducted and report revealed by Market Research Future (MRFR).
Meal Kit Delivery Services Market Share was valued at USD 15498.6 million in 2021. The meal kit delivery services market industry is projected to grow from USD 18241.85 million in 2022 to USD 57082.65 million by 2030, exhibiting a compound annual growth rate (CAGR) of 17.70% during the forecast period (2022 - 2030).
The market is expected to accelerate in numbers and attain decent growth due to several important factors. One of the major driving factors of the market is the growing demand for such kits among the customers who lead an extremely busy lifestyle. It becomes highly difficult for every individual to cook meals for themselves after working all day in their respective jobs or businesses. This service provides an option to all those individuals, especially bachelors, with its doorstep and on-time delivery offering.
However, at the same time, the market is also identified to be struggling and experiencing significant hurdles in recent years. This is due to the high rate of cancellations of these meal-based subscriptions. As meal kits are expensive, consumers tend to cancel their subscription as they believe the item to not match up to the money they are spending. Nonetheless, the proliferating growth of the retail industry and the grocery market is projected to provide numerous positive opportunities to the players in the market during the forthcoming years.
The global meal kit delivery services market segmentation is based in terms of serving, distribution channel, region, and food type.
By serving, the market classification is done into one, two, four, and other servings.
By food type, the market breaks down into ready to eat and ready to cook food products.
By distribution channel, the market is classified into non-store and store-based distribution channels.
By region, the global meal kit delivery services market is divided into four key regions, namely Asia Pacific, Europe, North America, and the Rest of the World (RoW). The North American meal kit delivery market segments into the US, Mexico, and Canada. The European Meal Kit Delivery Services Market Trends, on the other hand, is segmented into Germany, Spain, the UK, Italy, France, and the Rest of Europe. The Asia Pacific region for meal kit deliver services is divided into India, Japan, New Zealand, Australia, China, and the Rest of Asia Pacific. The Rest of the World regional segment for this market hosts Latin America, the Middle East, and Africa.
Regionally, the global meal kit delivery services market is dominated by the North American region. The region is furthermore expected to hold the maximum market share and dominate the entire market in the forthcoming years. The dominance of the region can be centered around various contributory factors like the presence of numerous market players, rising working population, and a growing inclination of consumers to consume ready to eat and ready to cook meals.
Additionally, in Europe, the rising level of awareness among the consumers herein concerning health is projected to cause a significant push of the market. The Asia Pacific region is expected to also experience increasing demand, particularly in Western Australia.
The global meal kit delivery services market holds several key and prominent players, including Purple Carrot (the US), Blue Apron, LLC (the US), Gousto (UK), Home Chef (the US), Plated (the US), Marley Spoon Inc. (Germany), HelloFresh (Germany), PeachDish (the US), ButcherBox (the US), Sun Basket (the US), and others.
April, 2019, GrubMarket is a farm-to-table food delivery company that collaborates with various farms and suppliers to sell as well as deliver their items through online store, both for businesses and for startups that provide direct meal offering services to the consumers. The company announced that in a C1 funding round it has raised USD 25 million investment.
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