According to Future Market Insights, the global chilled meal kits market size is expected to grow from US$ 10,062 Mn in 2023 to US$ 26,4 36.6 Mn by 2033. Overall sales of chilled meal kits are projected to rise at an impressive CAGR of 16.3% between 2023 and 2033.
Rising consumer demand for convenient prep meals across the world is a key factor driving the global chilled meal kits market industry forward and the trend is expected to continue during the forecast period.
Chilled meal kits are convenient for consumers as they provide them with pre-made ingredients or items required to cook meals at home quickly. They help them to save their precious time as they do not have to go through the hassle of buying all separate ingredients and spending time preparing each dish from scratch.
The growth of this market will also be fuelled by an increase in consumers’ interest in healthier eating options that can be fixed quickly but still taste great. This demand is being met with constant innovation from meal kit providers who tailor their offerings according to customer needs and trends in different parts of the World.
Similarly, factors such as changing lifestyles and eating habits, rapid urbanization, and busy schedules are expected to generate high demand for chilled meal kits during the forthcoming decade.
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Key Takeaways from Market Study
- Overall demand for chilled meal kits is anticipated to rise at 16.3% CAGR from 2023 to 2033.
- Based on product, the vegetarian segment is poised to grow at a higher CAGR during the forecast period.
- North America and Europe together hold the largest market share of the worldwide chilled meal kits industry.
- The U.K. chilled meal kits market is projected to grow at a CAGR of 12.6% between 2023 and 2033.
- India’s chilled meal kits market is projected to grow at 20.0% CAGR over the assessment period.
- Currently, the U.S. holds a share of 33.2% in the global chilled meal kits market.
“In the long run, the increased focus on chilled meal kits consumption in developed regions such as North America and Europe is projected to provide profitable opportunities for market participants. “, –says a lead analyst at Future Market Insights.
Competitive Landscape
Key players operating in the market for chilled meal kits include Tyson Foods, Inc. (Tyson Taste Makers), Hello Fresh SE, Campbell’s, Home Chef (The Kroger company, Blue Apron Holdings, Inc., Gousto, Martha &Marley spoon, Sun basket, Lina’s Mat Kassel (LMK Group AB), My Food Bags Ltd, Dinner (MMM Consumer brand Inc.), Purple carrot, Gobble Inc., and Hungry root.
These players are continuously introducing new products, improving their production capacities, and strengthening their distribution channels to increase their revenue share. Besides this, they are adopting strategies such as mergers, partnerships, acquisitions, and collaborations to expand their global presence.
- In November 2022, HelloFresh, a global food solutions group and the world’s leading meal kit company, launched its services in Spain. This expansion marks an important milestone in HelloFresh’s global growth strategy to expand its total addressable market.
- In January 2022, Kraft Heinz completed the acquisition of a majority stake in Just Spices, a technology-enabled direct-to-consumer business.
- In December 2021, HelloFresh announced that it will double its investment in capacity expansion, allowing for new market launches and further improving the customer experience by providing more flexible meal choices.
- In 2019, Gobble, a meal prep company backed by leading Silicon Valley investors, launched Sunday Meal Prep aimed at working professionals seeking fresh, healthy weekday lunches.
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Chilled Meal Kits Industry by Category
- By Product:
Vegetarian
Nonvegetarian
Poultry Based
Beef Based
Pork Based
Seafood Based
- By Gender:
Female
Male
- By Customer Age:
18-30
31-45
45-60
60 onward
- By Sales Channel:
Stored-based retailing
Modern Grocery Store
Convince store
Discounters
Hypermarket
Supermarket
Traditional Retailers
Food specialist
Independent small Grocer
Other Grocers
Online Retailing /Delivery
Direct Sales
- By Region:
North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania
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 over 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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