meal kit delivery services market size is expected to reach USD 64.3 billion by 2030

Meal Kit Delivery Services Industry Overview

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. Increasing preference for home-cooked and chef-cooked food among millennials is a major factor contributing to the growth of the market. The delivery service has been gaining high popularity and adoption among generation Y and Z.  The increasing preference for the product is driven by the benefits of homemade meals as they are more economical in comparison to takeouts and home delivery services.

The COVID-19 pandemic has offered a huge opportunity to the market for meal kit delivery services as almost all the restaurants, eateries, and hotels were shut down across the globe. People have started focusing on a healthy diet more than ever to increase their immunity and to maintain a balanced diet as a result, an increasing number of people have been looking for healthy and easy meals options. Furthermore, key players in the market have witnessed a surge in sales during the pandemic as compared to 2019. Companies like Blue Apron have also reported a hike in global sales, followed by HelloFresh, which doubled its customer base in the U.S. with an increase of 66% in its Y-O-Y revenue.

Gather more insights about the market drivers, restrains and growth of the Global Meal Kit Delivery Services market

The heat and eat segment has been gaining traction among consumers in the U.S. as several delivery service companies have been tapping into this segment by launching single and multiple servings for consumers. For instance, homemade food is more economical than eating at a restaurant. Furthermore, the availability of the product has made homemade meals more time-saving in comparison to takeouts and home delivery services. Preparing food at home also gives full control over the ingredients one wishes to use and comes in handy for people who are allergic to certain food ingredients or are trying to avoid specific ingredients.

According to a survey conducted by HUNTER in April 2020, 54% of consumers in America are cooking more than before and 22% are ordering prepared meal kits more frequently. Dining in is becoming more popular than dining out. Boomers, as well as, millennials increasingly prefer staying at home and cooking or ordering in rather than spending money at restaurants. Consumers are also making fewer visits to restaurants and are opting to stay at home. One of the key factors contributing to this shift is the attitudes and behaviors of the two largest generational groups-boomers and millennials.

While millennials have surpassed baby boomers in number, boomers remain a large population and their behaviors have a significant influence on the marketplace that caters to cooking at home. Meal kit delivery services are an ideal solution since meal planning in advance significantly helps reduce food wastage. Meal kits have ingredients in the exact quantity that is required to prepare a meal since each portion is pre-measured. Several delivery service companies offer larger portions, but still provide calorie count and nutritional information based on the portions.

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Meal Kit Delivery Services Market Segmentation

Grand View Research has segmented the global meal kit delivery services market based on offering, service, platform, meal type, and region:

• Offering Outlook (Revenue, USD Million, 2017 - 2030)
  • Heat & Eat
  • Cook & Eat

• Service Outlook (Revenue, USD Million, 2017 - 2030)
  • Single
  • Multiple

• Platform Outlook (Revenue, USD Million, 2017 - 2030)
  • Online
  • Offline

• Meal Type Outlook (Revenue, USD Million, 2017 - 2030)
  • Vegan
  • Vegetarian
  • Non-Vegetarian

• Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Market Share Insights

• August 2021: Freshly Inc., launched its first-ever plant-based prepared meals line - ‘Purely Plant’, including six new meals featuring plant-based proteins made with clean, whole-food ingredients to cater to ongoing demand for variety, taste, nutrition, plant-based meal options and convenience among consumers. Meals can be heated and served in three minutes with no preparation required.
• November 2020: HelloFresh acquired Factor75, LLC for USD 277 million. The acquisition was aimed at strengthening HelloFresh’s position in the U.S. market and increase its consumer base across the country.

Key Companies profiled:

Some prominent players in the global meal kit delivery services market include

• Blue Apron, LLC
• Freshly Inc.
• HelloFresh
• Sun Basket
• Relish Labs LLC (Home Chef)
• Gobble
• Marley Spoon Inc.
• Purple Carrot
• Fresh n' Lean
• Hungryroot
  
  

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