Meal Kit Market by Meal Type (Non-Vegetarian, Vegeterian), Offering Type (Cook & Eat, Heat & Eat), Serving, Subscription Type, Distribution - Global Forecast 2024-2030

Meal Kit Market by Meal Type (Non-Vegetarian, Vegeterian), Offering Type (Cook & Eat, Heat & Eat), Serving, Subscription Type, Distribution - Global Forecast 2024-2030

The Meal Kit Market size was estimated at USD 15.14 billion in 2023 and expected to reach USD 16.98 billion in 2024, at a CAGR 12.52% to reach USD 34.58 billion by 2030.

The meal kit market is a rapidly evolving global industry consisting of businesses providing pre-portioned, packaged ingredients and easy-to-follow recipes, enabling consumers to prepare home-cooked meals without the burden of meal planning and grocery shopping. Customers can choose from a diverse range of dietary preferences, cuisines, and portion sizes according to their tastes and needs. End-users include both busy professionals seeking convenient solutions for daily meals without compromising on nutrition and taste and amateur cooks looking to expand their culinary skills by experimenting with new recipes. The increasing urbanization and modern lifestyle are driving demand for convenient and healthy food options that save time on meal preparation. E-commerce platforms have played a crucial role in transforming the dynamics of the meal kit industry by providing ease of access for customers to order online at their convenience. The high cost of meal kits compared to traditional grocery shopping can act as a barrier to wider customer adoption. Furthermore, maintaining consistent product quality and freshness across various locations while ensuring timely deliveries is a significant challenge faced by providers in this space. However, major companies are constantly exploring innovations to improve logistic operations to tackle such challenges. The introduction of AI to offer customized meal kits and meal plans and utilization of marketing strategies can help major companies reach a wider audience.

Regional Insights

A growing trend toward healthy eating and convenience has fueled the demand for meal kits in the Americas region. Consumers in this market are driven by the need to save time while enjoying high-quality, home-cooked meals. The US meal kit market is highly competitive, with major companies constantly innovating and exploring diverse meal options. In the European Union (EU), meal kit adoption varies across countries but demonstrates an overall upward trajectory. As consumers become increasingly conscious of waste reduction and sustainable practices, EU-based companies have responded with eco-friendly packaging solutions and locally sourced ingredients. China boasts a massive potential customer base for meal kits. To succeed here, companies offer specific meal kits that cater to local tastes and ingredients while addressing the importance of freshness. Japan's meal kit market is gaining traction with a focus on time-saving and waste reduction. Japan is also characterized by the emergence of plant-based meal kits that aim to provide meal options to the growing vegan and vegetarian population.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Meal Kit Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing preference for homemade meals among millennials and growing urban population
Presence of eco-friendly meal kits and advancements in food technology
Availability of meal kits through e-commerce platforms

Market Restraints

High costs and cases of disease outbreaks linked to meal kits

Market Opportunities

Adoption of strategic advertising and marketing
Utilization of AI for meal planning and customization of meal kit

Market Challenges

Food safety practices and stringent regulations

Market Segmentation Analysis

Meal Type: Rising preference for vegan and vegetarian lifestyles driving the demand for vegetarian meal kits
Distribution: Emergence of online stores to cater to the growing demand for convenient and quick delivery of food items
Offering Type: Busy lifestyles and rising urbanization leading to a surge in demand for heat & eat meal kit
Serving: Increasing utilization of single servings by consumers seeking convenience

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Meal Kit Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Meal Kit Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Wonder to Acquire Meal Kit Company Blue Apron for USD 103M

Wonder, the rapidly growing virtual food hall company, has announced its acquisition of meal kit company Blue Apron for USD 103 million. This strategic move aims to create synergies between their mobile apps and delivery logistics, enhancing the overall customer experience.

Ready Pac Launches Bistro Meal Kits

Bonduelle Fresh Americas has recently introduced Ready Pac Bistro Meal Kits on the West Coast. With this launch, Ready Pac Bistro Meal Kits are an affordable and healthy option for families seeking plant-rich alternatives.

DoorDash and Blue Apron Cook Up Meal Kit Expansion

DoorDash and Blue Apron have announced that Blue Apron's Heat & Eat meals are now being offered for delivery in 11 markets, including New York City, through DashMart, DoorDash's online convenience stores. This expansion conducted a successful pilot program in Philadelphia last year and is aimed at increasing the customer base for both companies.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Meal Kit Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Meal Kit Market, highlighting leading vendors and their innovative profiles. These include Blue Apron, LLC by Wonder Group, CookUnity, Cumin Club, Daily Harvest, Diet-to-Go, Fit Foods Club, FlexPro Meals, Fresh N Lean, Freshly Inc. by Nestlé S.A., Gobble Inc., Gousto, HelloFresh SE, Home Chef, Marley Spoon by MMM Consumer Brands Inc., Meal Kit Supply, Mosaic Foods, Oisix ra daichi Inc., Pepper Leaf Pty Ltd., Pete's Real Food, Sakara Life, Snap Kitchen, Splendid Spoon, Sun Basket, Inc., Territory Foods, The Good Kitchen, The Kroger Co., Tovala, Trifecta Nutrition, and Tyson Foods Inc. by General Mills, Inc..

Market Segmentation & Coverage

This research report categorizes the Meal Kit Market to forecast the revenues and analyze trends in each of the following sub-markets:

Meal Type
Non-Vegetarian
Poultry
Ruminants
Seafood
Vegeterian
Offering Type
Cook & Eat
Heat & Eat
Serving
Multiple
Single
Subscription Type
One-Time Purchase
Subscription-based
Distribution
Convenience Store
Online Store
Specialty Store
Supermarket
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year