Meal Kit Delivery Services Market By Offering Type (Ready-to-cook, Heat & Eat), By Food Type (Vegetarian, Non-Vegetarian, Others), By Service Type (Single-Service, and Subscription-Based), By Platform (Online, Offline), By Region Forecast to 2032
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The global meal kit delivery services market has experienced significant growth in recent years, with the market size reaching USD 17.8 Billion in 2022. The market is projected to continue growing at a rapid pace, with a revenue CAGR of 17% during the forecast period. One of the primary drivers of this growth is the increasing demand for quick and healthful meals, driven by busy lifestyles and shifting customer preferences. The COVID-19 pandemic has also contributed to the growth of the market as people look for alternatives to grocery shopping and social engagements.
The market for meal kit delivery services is also being driven by consumers’ preference for personalized meal plans and the convenience of having all the materials delivered to their doorstep. Manufacturers are responding to consumer demand for better meal options by developing meal kits using organic, non-GMO, and locally produced ingredients. They are also offering a wide range of dietary options, including vegan, vegetarian, gluten-free, and low-carb meals.
Another factor driving revenue growth in the meal kit delivery services market is the rising trend of eco-friendly packaging materials and reduced food waste. Manufacturers are adopting innovative packaging techniques, such as Modified Atmosphere Packaging (MAP), to extend the shelf lives of food products. This demand for safe, high-quality, and fresh food is leading to ongoing innovation in the industry.
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Market Segments: –
The report on the meal kit delivery services market provides a comprehensive analysis of the industry’s growth trends and revenue forecasts at the global, regional, and country levels. The report segments the market based on offering type, food type, service type, platform, and region, providing insights into each segment’s growth prospects and market trends.
Based on the offering type outlook, the meal kit delivery services market is segmented into ready-to-cook and heat & eat meals. Ready-to-cook meals are those that require minimal preparation and can be cooked by the customer in a short amount of time, while heat & eat meals are pre-cooked and only require heating before consumption.
The food type outlook segment includes vegetarian, non-vegetarian, and other meal options, catering to different dietary preferences and requirements. The service type outlook segment is further divided into single-service and subscription-based meal plans, providing customers with flexibility in choosing meal options and frequency of delivery.
The platform outlook segment includes online and offline meal kit delivery services, providing customers with a range of options to purchase and receive their meal kits. The report’s regional outlook covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, providing insights into the market trends and growth prospects in each region.
Strategic developments in the market:
· In November 2020, HelloFresh SE, a leading meal kit delivery service provider, announced the acquisition of Factor75, a provider of fully-prepared, healthy meals in the U.S. This acquisition is aimed at expanding HelloFresh’s offerings in the fast-growing healthy meal delivery market and increasing its customer base in the U.S. With this acquisition, HelloFresh hopes to offer a wider range of meal options to its customers, including fully-prepared meals and meals catering to different dietary requirements.
· Another notable development in the meal kit delivery services market is the launch of Sun Basket’s first-ever plant-based meal kit line in August 2020. The line includes vegan and vegetarian options, with pre-portioned ingredients and easy-to-follow recipes for customers looking for a healthier meal option.
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Competitive Landscape:
The meal kit delivery services market has emerged as a highly competitive industry in recent years, owing to its growing popularity and demand for convenient and healthy meal options. The market has attracted a significant number of large and small players, all striving to gain a larger market share. These companies are leveraging various strategies such as mergers and acquisitions, partnerships, and product launches to expand their market presence.
Some of the major players in the meal kit delivery services market are Blue Apron Holdings, Inc., HelloFresh SE, Home Chef, Sun Basket, Factor75, Plated, EveryPlate, Gobble, Martha & Marley Spoon, Dinnerly, and Purple Carrot. These companies are known for their high-quality ingredients, unique recipes, and exceptional customer service, which have helped them establish a loyal customer base.
Blue Apron Holdings, Inc. is a leading player in the meal kit delivery services market, offering a wide range of meal options for various dietary preferences, including vegetarian, gluten-free, and low-calorie options. The company sources its ingredients from sustainable and environmentally-friendly sources, ensuring high-quality and nutritious meals.
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