Meal Kit Delivery Services Market to Register 17.6% CAGR Growth as Growing Consumer Preference for Homemade Meals, The Brainy Insights

The Brainy Insights

Increasing acceptance of veganism among consumers, especially millennials, has been fueling the market for vegan meal kits. Some of the companies that have entered the Asian market include Chefgood, Marley Spoon, Cookit & Umami Kit. North America led the market with a share of 45.6% in 2021, owing to increasing demand from consumers due to the convenience offered by meal kits.

Newark, Nov. 02, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the meal kit delivery services market is growing at a CAGR of 17.6% from 2022-2030. The growing demand for convenient and effortless food especially among millennials and the young generation is driving the market demand for meal kit delivery services. Further, rising awareness about the benefits of home-cooked meals is also driving market growth.

Meal kits are usually offered in two forms: - heat & eat and cook & eat. Heat & eat meal kits are prepared by chefs that require heating, whereas cook & eat meal kits consist of portioned ingredients and an instruction guide to cook a recipe at home. The ingredients are chopped and washed to save cooking time.

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The concept of meal kits originated in Europe, but these have become immensely popular in the US. The busy lifestyle of consumers in the US has prompted them to stick to meal kit delivery services for regular food consumption. Moreover, growing trends of veganism, keto, paleo, and pescatarian diet among consumers are also influencing companies to offer more varieties of dishes & beverages.

The factors that influence consumers before subscribing the meal kit delivery services are the quality of the food, its rating & reviews by other customers, price, and meal options. Further, timely delivery and packaging also play a deciding factor for the customers. Advertisements and marketing also influence the purchasing decisions of consumers. Good marketing and promotion sometimes influence the consumer to shift from one brand to another. Therefore, companies are focusing on strategic marketing plans to influence their targeted consumer group.

The Asia Pacific and Middle East & Africa are emerging markets for meal kit delivery services, where the demand is anticipated to grow steadily in the coming years. Entering these markets with regional and local cuisine can be beneficial for meal kit delivery service providers. Consumers in these regions have a lower purchasing power as compared to North America and Europe. Thus, low-priced meal plans are expected to gain traction in these regions.

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Key Players

1. HelloFresh
2. Sun Basket
3. Relish Labs LLC
4. Gobble
5. Purple Carrot
6. Hungryroot
7. Blue Apron, LLC
8. Freshly Inc.
9. Marley Spoon Inc.
10. Diet-To-Go
11. Allplants Ltd.
12. Snap Kitchen, LLC

Market Segmentation

• Offering Insights

o Cook & Eat
o Heat & Eat

• Distribution Channel Insights

o Online
o Offline

• Service Insights

o Single
o Multiple

• Meal Type

o Non-Vegetarian
o Vegetarian
o Vegan

Regional Insights

o North America

 US
 Canada
 Mexico

o Europe

 Germany
 UK
 France

o Asia Pacific

 China
 Japan
 India
 Australia

o Central & South America

 Brazil

o Middle East & Africa

 South Africa

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About the report:

The global meal kit delivery services market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or planning to launch a new product in the global market.

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