The global meal kit delivery services market size is expected to reach USD 64.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. Increasing preference for homemade meals among millennials is expected to be a major factor contributing to the growth of the market. Meal kit delivery services are popular among busy parents, millennials, those juggling multiple jobs, working couples, or people with special diet needs who prefer pre-planned ingredients or meals so that they can quickly prepare meals.
Meal Kit Delivery Services Market Report Highlights
- In Asia Pacific, the market is expected to register the fastest CAGR of 18.8% during 2022 to 2030 as major economies like Japan, and China have been adapting to the western culture of meal-kits and witnessing this behavior, many companies are tapping into meal kits delivery services
- The heat and eat segment is expected to register a CAGR of 17.8% from 2022 to 2030 owing to the growing popularity among the working population due to their hectic lifestyles and busy schedules with no or less time for cooking
- The multiple meal kit delivery services segment is expected to register a CAGR of 17.7% from 2022 to 2030 as this kit service is offered to families where both parents are working and have hectic and busy lifestyles
- The non-vegetarian meal kit delivery service segment held the largest revenue share of 63.7% in 2021. This can be attributed to the popularity of non-vegetarian meal kits across the globe and the nutritional value associated with this type
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The cook and eat segment led the market and accounted for a revenue share of 60.7% in 2021. Growing demand for healthy food ingredients and the trend of cooking at home at the global level is expected to expand the scope of cook and eat meal delivery services over the next few years. Further, for people suffering from depression, anxiety, or want to maintain brain health, cooking is a great exercise. Thus, the popularity of cook and eat meal kit delivery services can be seen among the masses.
The single service segment accounted for the largest revenue share of 57.8% in 2021. The service is extremely popular among single-person households and those with long office hours. Millennials and Generation Z form the largest consumer group of these meal kit delivery services. The vegan meal type segment is expected to showcase exponential growth by growing at a CAGR of 19.0% as the vegan population is significantly increasing across the globe due to the growing prevalence of lactose intolerance and various food allergies.
The online segment accounted for the largest revenue share of more than 63.2% in 2021. Increasing demand for meal kits has prompted a large number of local small businesses to provide these delivery services. Companies that are having an established online platform are capable of providing client service through greater flexibility by being available round the clock which allows them to serve customers settled across a geographical area. The market is fragmented in nature, with the presence of a large number of global and regional players. Key players face intense competition, especially from the top players in the market, as they have a large consumer base, strong brand recognition, and vast distribution networks.
Meal Kit Delivery Services Market Insights By Demography
North America dominated the meal kit delivery services market and accounted for the largest revenue share of 46.2%. A large number of consumers purchase these kits in the region to save their time and effort. In Asia Pacific, the market is expected to witness a CAGR of 18.8% in the market for meal kit delivery services. The increasing number of time-poor consumers in the region has been propelling the demand for these delivery services. China, Japan, and South Korea are the key markets of the region. Furthermore, COVID-19 has increased the interest in home-cooked food and surged the demand for the product in the nation. Countries including Australia, Japan, China, Singapore, Sri Lanka, South Korea, and India are driving the market for vegetarian and vegan meal kits.
Industry Share Analysis by Major Companies
The market for meal kit delivery services is characterized by the presence of a few well-established players and several small and medium players. Mergers, acquisitions, and product launches remain one of the key strategic initiatives in the industry. Some of the prominent players in the meal kit delivery services market include:
- Blue Apron, LLC
- Freshly Inc.
- HelloFresh
- Sun Basket
- Relish Labs LLC (Home Chef)
- Gobble
- Marley Spoon Inc.
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Meal Kit Delivery Services Market Segmentation
Grand View Research has segmented the global meal kit delivery services market on the basis of offering, service, platform, meal type, and region:
- Meal Kit Delivery Services Offering Outlook (Revenue, USD Million, 2017 – 2030)
- Meal Kit Delivery Services Outlook (Revenue, USD Million, 2017 – 2030)
- Meal Kit Delivery Services Platform Outlook (Revenue, USD Million, 2017 – 2030)
- Meal Kit Delivery Services Meal Type Outlook (Revenue, USD Million, 2017 – 2030)
- Meal Kit Delivery Services Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of Meal Kit Delivery Services Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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