Meal Kit Delivery Services Market Size, Share & Trends Analysis Report By Offering (Heat & Eat, Cook & Eat), By Service (Single, Multiple), By Platform (Online, Offline), Meal Type (Vegan, Vegetarian, Non-Vegetarian), And Segment Forecasts, 2022 - 2030

Meal Kit Delivery Services Market Size, Share & Trends Analysis Report By Offering (Heat & Eat, Cook & Eat), By Service (Single, Multiple), By Platform (Online, Offline), Meal Type (Vegan, Vegetarian, Non-Vegetarian), And Segment Forecasts, 2022 - 2030

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.

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 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