As per a recent market analysis by Future Market Insights (FMI), the meal kit delivery services market is poised to reach a valuation of US$ 14.63 Bn in 2022. Sales are projected to increase at a 15% CAGR, with the market size reaching US$ 59.2 Mn by 2032.
Key players operating in the meal kit delivery services market are opting for a multi-brand expansion strategy. They are focused on expanding their market penetration in different regions by adopting an aggressive expansion strategy.
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HelloFresh Group for instance, recently in April 2022, announced its first market entry in Asia, a step in line of its international expansion goal. Besides this, HelloFresh Group is also further focused on expanding its international penetration through rapid acquisitions.
HelloFresh acquired Green Chef Company in the year 2018, Ready-to-Eat Meal Company Factor75, Inc. in 2020, Youfoodz in 2021, and others. All of such efforts on the part of well-established players is likely to further scale up market growth in the coming years.
Consumer spending on meal kits and grocery boxes has rapidly increased especially in the U.K. Furthermore, the rapidly growing demand for meal delivery kits from urban areas as well as rural areas is likely to escalate the sales of meal delivery kits in the coming years.
Key Takeaways from the Meal Kit Delivery Services Market Study
- By offering type, heat and eat segment is expected to witness highest growth over the forecast period (2022-2032)
- In terms of meal type, vegan segment will gain traction through 2022 & beyond
- By sales channel, online segment is expected to witness robust growth between 2022 and 2032
- Australia is expected to dominate the Oceania meal kit delivery services market on the back of growing trend of veganism
- India is expected to witness fastest growth in South Asia meal kit delivery services market backed by the presence of leading food delivery chains
“Increasing health consciousness has further encouraged the players operating in the meal kit delivery services market to expand their meal offerings to include vegan and plant-based meals in their offerings. This is anticipated to boost the market over the forthcoming decade”, says an FMI analyst.
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Who is winning?
Key players are undertaking extensive efforts to promote their meal kit delivery services. Market players are focused on undertaking promotional strategies to voice out their service penetration in different markets.
Some of the major players present in the meal kit delivery services market are Blue Apron LLC, Freshly Inc., Hello Fresh Group, Sun Basket, Relish Labs LLC, Gobble, Marle Spoon Inc., Purple Carrot, Hungryroot and among others.
Meal Kit Delivery Services Market by Category
By Offering Type:
- Heat & Eat
- Cook & Eat
By Channel:
- Online
- Offline
By Meal Type:
- Vegetarian
- Vegan
- Non-vegetarian
By Type:
- Economic Meal Kit
- Premium Meal Kit
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
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