Meal Kit Delivery Services Market By Offering (Heat & Eat, Cook & Eat), By Service (Single, Multiple), By Platform (Online, Offline), By Meal Type (Vegan, Vegetarian, Non-Vegetarian), By Region, By Competition Forecast & Opportunities 2024-2032
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMeal Kit Delivery Services Market By Offering (Heat & Eat, Cook & Eat), By Service (Single, Multiple), By Platform (Online, Offline), By Meal Type (Vegan, Vegetarian, Non-Vegetarian), By Region, By Competition Forecast & Opportunities 2024-2032
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 16.20 billion |
| CAGR (2023-2028) | 12.11% |
| Fastest Growing Segment | Cook & Eat |
| Largest Market | North America |
Market Overview
The global Meal Kit Delivery Services market achieved a valuation of USD 16.20 billion in 2022 and is poised for substantial growth with a projected Compound Annual Growth Rate (CAGR) of 12.11% through 2028. Meal kit delivery services operate on a subscription-based model, providing consumers with precisely portioned ingredients or partially prepared recipes, simplifying the process of cooking at home. This service has gained significant popularity and adoption among Generation Y and Z, with most consumers justifying the price for the convenience it offers.
- Increasing Preference for HomemadeMealsThe primary driver of growth in the meal kit delivery services market isthe rising preference for homemade meals, particularly among millennials. Theseservices deliver precisely portioned ingredients, eliminating the need forextensive grocery shopping and reducing the challenges associated with limitedfridge and pantry space. This simplification has made cooking lesstime-consuming and energy-intensive, encouraging amateurs to explore cookingdiverse dishes.
- Economic Benefits of Homemade MealsHomemade meals are not only more economical than dining at restaurants but havealso become more time-efficient compared to takeout and food delivery. Theavailability of meal kits has played a significant role in streamlining theprocess of preparing homemade meals, making it a cost-effective and time-savingchoice.
- Health and Dietary PreferencesHomemademeals are typically healthier than commercially prepared food, which is oftenhigh in fat, salt, and sugar. Cooking at home grants individuals full controlover the ingredients used, making it suitable for people with specific dietaryrestrictions or allergies.
- Customization StrategiesMeal kitdelivery service providers have adopted customization as a key strategy. Theyoffer meals designed to enhance health, facilitate weight loss, reducepreparation time, or incorporate more vegetables into diets. There is also agrowing demand for high-protein, low-calorie, and low-carb meal options. Theseservices cater to various dietary preferences, including vegetarian, vegan,dairy-free, soy-free, tree nut-free, peanut-free, egg-free, and gluten-freediets. Moreover, they offer a wide range of meals, including breakfast, lunch,snacks, and dinner.
Download Free Sample Report
Key Market Drivers
- Increasing Fondness for Cooking at HomeDining in has become more popular than dining out, driven by the attitudes andbehaviors of both baby boomers and millennials. Millennials, in particular,have shown a preference for saving money by cooking at home, which has led toan increased demand for meal kit delivery services.
- Increasing Consumer Awareness TowardsReducing Food WasteFood waste is a significant concern, with a substantialportion occurring at the consumer level. Meal kit delivery services help reducefood wastage by providing precise ingredient portions, contributing tosustainability and environmental consciousness.
- Convenience and Time-SavingBusylifestyles have fueled the demand for meal kit delivery services, as theyprovide pre-portioned ingredients and easy-to-follow recipes, eliminating theneed for meal planning, grocery shopping, and food preparation.
- Healthy Eating and Dietary PreferencesMany consumers are prioritizing health-conscious eating, and meal kit deliveryservices respond by offering options that emphasize fresh and high-qualityingredients. They cater to various dietary preferences and restrictions, suchas vegetarian, vegan, gluten-free, and keto diets.
- Reduced Food WasteMeal kits provideexact ingredient portions required for each recipe, reducing food waste thatoften occurs with traditional grocery shopping.
- Cooking Experience and CulinaryExplorationMeal kits offer an opportunity for customers to explore newrecipes and cuisines without the hassle of finding rare ingredients. Detailedrecipe cards and step-by-step instructions make cooking more accessible.
Segmental Insights
- Offering InsightsIn 2022, the"cook & eat" segment led the market, driven by the global demandfor healthy food ingredients and the trend of cooking at home.
- Service InsightsSingle service mealkits accounted for a larger market share in 2022. Millennials and Generation Zform the largest consumer group for these services, often consisting ofstudents and professionals with busy lifestyles focused on maintaining ahealthier diet.
Regional Insights
- North AmericaNorth America made thelargest contribution to the market in 2022. The region has witnessed anincrease in the purchase of meal kits as consumers seek healthier and morecost-effective alternatives to restaurant dining. The COVID-19 pandemic furtheraccelerated the demand for meal kits, as consumers perceived them as a saferoption for enjoying home-cooked meals.
- Asia PacificThe Asia Pacific region isthe fastest-growing market, expected to experience the highest CAGR during theforecasted period. Convenience and freshness are key drivers of demand in thisregion, particularly among time-poor consumers. China, Japan, and South Koreaare among the prominent markets in the Asia Pacific region.
In conclusion, the meal kit delivery services market is experiencing substantial growth driven by consumer preferences for homemade meals, environmental consciousness, convenience, health-conscious choices, and culinary exploration. Challenges related to operating costs, subscription fatigue, environmental concerns, quality control, and competition are present, but the industry continues to evolve to meet changing consumer needs and preferences.
Recent Developments
- In 2023 - Blue Apron and Dashmart byDoorDash unveiled the extension of their partnership, enabling the widespreaddelivery of Blue Apron's Heat & Eat meals in 11 markets, including New YorkCity, through DashMart. This strategic move exemplifies the companies'commitment to expanding their customer base and enhancing product accessibilityby leveraging DashMart's platform beyond the successful initial pilot programin Philadelphia.
- In 2022 - Home Chef strategically joinedforces with renowned chef and Skinnytaste founder, Gina Homolka, to introducefresh and nutritionally balanced meals to households across the nation.Throughout the collaboration, Home Chef seamlessly integrated three rotatingSkinnytaste recipes into its weekly offerings, presenting customers with adiverse selection of health-conscious and delectable choices, aligning withtheir goal to cater to the demand for convenient and well-balanced meal options.
Key Market Players
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy