Global Meal Kit Market - 2023-2030

Global Meal Kit Market - 2023-2030

The Global Meal Kit Market reached US$ 12 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 31 billion by 2030. The market is growing at a CAGR of 12.5% during the forecast period 2023-2030.

Overscheduled lifestyles and increasing disposable income have driven the market for meal kit boxes. The 35-44 age group is the primary consumer of the meal kits, followed by the 18-34 age group. They prefer meal kits to save time in the planning and preparation of the meal. This is one of the significant factors in choosing meal kits over home-cook or restaurant foods.

Meal kit delivery services provide a convenient solution for individuals seeking hassle-free meal preparation. With recipe and meal planning services, customers can access diverse culinary options tailored to their preferences. Customizable meal kits offer flexibility, allowing customers to personalize their meals based on their dietary needs and taste preferences, which drives the Global Meal Kits Market size.

Pre-measured ingredients save time and effort, ensuring accuracy and reducing food waste. The freshness and quality of meal kit ingredients are prioritized to deliver a satisfying culinary experience and create lucrative sales in Global Meal Kits Market revenue.

Market Dynamics

Convenience and Time-Saving are the Driving Factors Behind the Popularity of Meal Kits.

Meal kit delivery services have revolutionized how people approach meal preparation, offering a convenient, time-saving solution for busy individuals. These services provide customizable meal kits catering to special dietary needs, including gluten-free, vegetarian, and vegan options, which drives the market expansion.

With eco-friendly packaging, meal kits minimize waste and environmental impact, aligning with sustainable practices. For instance, on February 23, 2021, Vancouver-based meal kit delivery service Fresh Prep launched Zero Waste Kit, an industry-first in Canada. Clear cooking instructions and storage guidelines ensure that customers can effortlessly prepare and store their meals, eliminating any guesswork.

Additionally, meal kit expiration dates are prominently displayed, ensuring the freshness and quality of ingredients in convenience foods. By combining special dietary options, eco-friendly packaging, and clear instructions, meal kits offer a convenient, reliable, and enjoyable cooking experience for individuals seeking convenience and health-conscious meal choices.

The High Cost of Meal Kits Hampering the Meal Kit Market Growth

While sports drinks can be useful for maintaining hydration during exercise, plain water is still the most important source of hydration. Drinking water before, during, and after exercise is essential to maintain optimal hydration. While meal kit products can be helpful for some athletes, they are not a necessary component of a healthy diet and exercise routine.

A balanced diet that includes whole, nutrient-dense foods can provide the energy and nutrients necessary to support athletic performance and recovery products are alternatives for the meal kits products.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Artificial Intelligence Analysis

AI algorithms analyze customer data, such as past orders and feedback, to gain insights into individual preferences. This data personalizes meal recommendations, ingredient choices, and portion sizes, improving customer satisfaction and engagement. AI algorithms analyze large datasets of recipes, ingredients, and user feedback to generate personalized recipe recommendations based on individual preferences, dietary restrictions, and cooking skill levels.

This helps customers discover new and relevant recipes that align with their tastes and needs. AI systems can analyze ingredient availability, pricing, and quality data from various suppliers to optimize ingredient sourcing decisions. This ensures that meal kit providers can secure high-quality ingredients at the best possible prices while also managing inventory levels efficiently..

Segment Analysis

The Global Meal Kits Market is segmented based type, serving, distribution channel, and region.

Omnivore Meal Kit Segment Accounts Sizable Share in the Global Meal Kits Market

An omnivore meal kit caters to individuals who follow an omnivorous diet, which includes consuming both animal- and plant-based foods. These meal kits offer a wide variety of recipes and ingredients that accommodate the diverse dietary preferences of omnivores. They typically include a range of proteins such as poultry, meat, fish and vegetables, grains, and other plant-based ingredients.

Omnivore meal kits provide the flexibility to explore and enjoy a balanced diet incorporating animal and plant-based components, allowing individuals to have a diverse and satisfying culinary experience. For instance, on March 30, 2022, The Flavourists UK-based company launched the “Plant-Based Meal Kit Brand” in The UK.

Geographical Analysis

Europe Holds the Largest Share in the Global Meal Kits Market

The Global Meal Kits Market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle-East and Africa.

Meal kit services have gained significant popularity in Europe, offering a convenient and time-saving solution for individuals seeking to enjoy home-cooked meals without grocery shopping and meal planning. Europe's meal kit market has experienced steady growth, driven by busy lifestyles, increasing demand for healthy and convenient food options, and the desire for culinary variety.

For instance, on October 21, 2021, HelloFresh SE launched a meal kit in Italy. With a market size of 26 million households, HelloFresh aims to serve approximately 75% of these households right from its initial launch. Moreover, the company has plans to expand its offerings further shortly, solidifying its presence in the Italian meal kit industry.

Competitive Landscape

The major global players include Blue Apron, LLC, Gobble, Inc, CHEFD, Ahold, Gousto, PeachDish, HelloFresh, Plated, Green Chef Corporation, and The Purple Carrot.

Why Purchase the Report?
• To visualize the Global Meal Kits Market segmentation based on type, serving, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous Meal kits market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Meal Kits Market Report Would Provide Approximately 53 Tables, 46 Figures And 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies