Meal Kit Delivery Service Market Insights
The US meal kit delivery services market has experienced remarkable expansion, with consumers increasingly opting for meal kits as a convenient and time-saving solution for meal preparation. Market research indicates that the industry's size is in the billions of dollars, with a notable growth trajectory projected in the coming years as more players enter the market and existing ones expand their offerings.
The global meal kit delivery services market size was valued at USD 15.21 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030.
A meal kit is a weekly or monthly subscription service that sends customers recipes and food ingredients to cook their own fresh meal at home. The services which include delivery of pre-cooked meals are known as meal delivery services. Demand for meal kit delivery services is driven by rising urban population, increase in number of working women, and rising number of people in the middle class bracket in developing countries such as China and India. Furthermore, due to improved lifestyle in emerging countries, disposable income of individuals has increased, and people tend to buy meal kit subscription.
Regional Analysis
North America dominated the meal kit delivery services market and accounted for the largest revenue share of 46.2% in 2021. A large number of consumers purchase these kits in the region to save their time and effort.
In Asia Pacific, the market is expected to witness a CAGR of 18.8% in the market for meal kit delivery services from 2022 to 2030. The market is expected to witness incredible growth in the region due to the convenience and freshness of the product. The increasing number of time-poor consumers in the region has been propelling the demand for these delivery services in China, Japan and South Korea.
The meal kit delivery services market is expected to expand at a good growth rate during the forecast period.
Market segmentation
The meal kit delivery services market is segmented on the basis of channel and region. The market is segmented on the basis of channeling online and offline. The offline segment of the meal kit delivery services market is again sub divided into hypermarkets, grocery stores, specialty stores and others. The meal kit delivery services market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America on the basis of region. The North America region is sub segmented into the U.S., Canada, and Rest of North America. Europe region is divided into the U.K., Germany, Italy, France, and Rest of Europe. Asia Pacific region is again sub segmented into China, India, Japan, and the rest.
Growing demand for healthy food ingredients and the trend of cooking at home at the global level is expected to expand the scope of cooking and eat meal delivery services over the next few years. Further, for people suffering from depression, anxiety, or wanting to maintain brain health, cooking is a great exercise. Thus, the popularity of cook and eat meal kit delivery services can be seen among the masses.
Key Players
Some of the key players in the meal kit delivery services market include Blue Apron, Just Add Cooking, Ahold USA, Din, Chef’d, Cooking Simplified, Foodstirs, Gobble, FreshDirect, Green Chef, Green Blender, HelloFresh, Handpick, Home Chef, Hungryroot, Markey Spoon, Munchery, Plated, PeachDish, Saffron Fix, Terra’s Kitchen, Pantry.
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