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The meal kit market size is forecast to increase by USD 12.19 billion, at a CAGR of 10.55% between 2023 and 2028. Market growth is anchored by several factors, including the availability of cost-effective solutions and a wide array of choices in meal kits, catering to diverse consumer preferences. As the demand for convenient food options continues to rise, driven by a growing customer base seeking convenience in meal preparation, the market experiences significant expansion. Furthermore, increasing awareness of the importance of consuming nutritious and healthy meals further fuels market growth, prompting consumers to prioritize health-conscious food choices. These interconnected trends reflect a shift towards a more dynamic and consumer-centric food industry, where accessibility, convenience, and health considerations play pivotal roles in shaping purchasing decisions. By addressing these factors, businesses can capitalize on emerging opportunities in the market, catering to evolving consumer needs while driving innovation and sustainability in the food sector.
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The vegetarian segment is estimated to witness significant growth during the forecast period. Vegetarian meal kit segment are expected to grow due to a significant shift from non-vegetarian meals to vegetarian or vegan meal kits, especially in countries such as the US, the UK, and Germany. In addition, in the US, consumers are adopting a vegan diet, due to which an increasing number of companies are offering vegan meal kits as per consumer needs and taste preferences. Furthermore, this is because consumers in the US are slowly becoming aware of the harmful health effects of animal products.
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The vegetarian segment was the largest segment and was valued at USD 8.36 billion in 2018. Moreover, this has also encouraged several companies to offer vegetarian meals. For instance, SimplyCook Ltd., one of the meal kit vendors in the UK, provides a special segment of the meal for vegetarians. In addition, some consumers are shifting toward a vegan or vegetarian diet because of ethical reasons, while some are shifting due to the food safety issues and effects of fish and meat production on the environment. Hence, such factors are fuelling the growth of this segment which int urn will drive the market growth during the forecast period.
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North America is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There has been a significant change in cooking styles in North America over the years due to the advent of meal kits. In addition, they have removed the need to plan meals, shop for groceries, and in many cases, prepare ingredients for meals. Moreover, the competition is high among the companies in the region; hence, they are increasingly focusing on differentiating their products to gain market share. For example, Purple Carrot (Three Limes Inc.) offers vegan meal kits and performance meals, especially those recommended for professional athletes. Furthermore, to cater to the demand for gluten-free consumers in the region, SunBasket Inc. offers gluten-free meal kits and kits for those following paleo and vegetarian diets. Hence, such factors are driving the market growth in North America during the forecast period.
The market is experiencing a surge in popularity, offering convenience and variety to consumers seeking fresh and hassle-free cooking solutions. With options ranging from pre-cooked meals to half-cooked food products, meal kits cater to diverse needs, including customized food ingredients and nutrition diets. The rise of online grocery shopping has further fueled this trend, with consumers opting for meal kit delivery services to streamline their grocery shopping experience. Companies like Factor and Just Add Vegan offer a wide range of options, from Asian meal kit services to specialized diets like Keto and Mediterranean. With a focus on quality ingredients such as fresh vegetables and meat and seafood, meal kits provide convenient solutions for busy individuals and families, whether it's cook & eat or heat & eat options, revolutionizing the way people approach meal preparation and consumption.
Cost-effective solutions and the availability of diverse choices are the key factors driving the market growth. As meal kits enhance convenience; consumers do not have to plan for groceries, which, in turn, saves time in preparing food. In addition, it also encourages consumers to venture outside of their comfort zones in terms of ingredients and preparation techniques. Furthermore, companies ensure that the meal kit provided to the consumers has easy-to-follow recipes, cooking tips, as well as the exact amount of ingredients required to prepare the meal in a convenient, pre-packaged box.
Moreover, companies also ensure that the ingredients provided to consumers are fresh and in the appropriate quantity to prepare the meal. In addition, this helps single-person households and double-income households to get freshly prepared meals. Furthermore, as many consumers are opting for a faster lifestyle, companies are providing consumers with subscription options, wherein consumers can sign up for a subscription and indicate their dietary preferences. Hence, such factors are driving the market growth during the forecast period.
The rise in demand for gluten-free meal kits is a primary trend in the market. Due to the growing awareness of the health effects of gluten, consumers are increasingly looking for gluten-free food products. In addition, gluten-free food is generally consumed by individuals with gluten-related disorders such as Celiac disease and non-Celiac gluten sensitivity.
Moreover, celiac disease is an autoimmune disorder that damages the small intestine. In addition, in individuals with Celiac disease, the small intestine cannot process gluten that is present in foods such as wheat, rye, and barley. Furthermore, it damages the small intestine lining and disrupts the absorption of nutrients from food. Therefore, many food service outlets are offering gluten-free food on their menus to cater to the demands of such customers. Hence, such factors are driving the market growth during the forecast period.
The preference for home-cooked food is a major challenge to the global market growth. Several consumers are increasingly becoming health-conscious and prefer home-cooked food over food from food service delivery outlets, such as meal kits. In addition, home-cooked food has high nutritional value and is fresh and hygienic. Furthermore, the chances of contamination are also less when compared with meal kits.
Moreover, home-cooked food is more economical than outside food, including that is prepared using meal kits. In addition, other benefits like portion control, hygiene, food safety, better control over allergens, cost benefits, and maximum nutrients encourage consumers to opt for home-cooked food. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market continues to thrive, catering to the evolving preferences of health-conscious consumers. With a focus on fresh ingredients and nutrition diets, meal kits align with recommendations from organizations like NITI Aayog to promote balanced nutrition. As urbanization increases, meal kits offer convenience for busy college-educated individuals seeking to balance work and personal life. The rise of veganism drives demand for plant-based meal packages and personalized kits, with companies like Home Chef and Factor offering gourmet-style options. Consumers prioritize health benefits, seeking nutritious & balanced meals with fresh & whole ingredients. As awareness of environmental issues grows, meal kit companies focus on reducing packaging waste and offering tailored meal options to accommodate dietary restrictions. With chef-curated Asian meal kits and ready-to-eat solutions available on online food delivery platforms, the meal kit industry continues to innovate, providing convenient and healthy meal solutions for all.
Additionally, the market caters to various dietary needs, including those following a nutrition diet or seeking health-conscious choices. With a rising vegan population concerned about animal cruelty, meal kits offer plant-based food options and nutritional information for informed decisions. Brands like Factor provide ready-to-eat and ready-to-cook solutions, including Asian meal kit service for authentic cuisine. As consumers prioritize proteins, minerals, and vitamins, meal kits ensure balanced meals with options like beef and chef-prepared & dietitian-approved meals. From grocery stores to online platforms, meal kits simplify cooking at home with convenient cooking tools and pantry items for diverse cuisines and meal plans.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.55% |
Market Growth 2024-2028 |
USD 12.19 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.88 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 53% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Albertsons Companies Inc., Bistro MD LLC, Blue Apron Holdings Inc., CHEF BASKIT, Gobble Inc., HelloFresh SE, Koninklijke Ahold Delhaize NV, Marley Spoon AG, My Food Bag Ltd., Nestle SA, NH Foods Ltd., Oisix ra daichi Inc, Riverford Organic Farmers Ltd., Siam Food Services Ltd., SimplyCook Ltd., Sun Basket Inc., The Kroger Co., Tyson Foods Inc., William Jackson Food Group Ltd., and Woop Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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