The meal kit delivery services market size is poised to reach a valuation of US$ 14.63 Bn in 2022. Sales are projected to increase at a 15% CAGR, with the market size reaching US$ 59.2 Mn by 2032.
Growing consumer awareness of the health benefits of vegan and plant-based foods is driving demand for this industry. Additionally, the market for meal kit delivery services will benefit from the growing popularity of vegan and plant-based foods.
For instance, in 2021 Freshly Inc. acquired Green Chef, the nation's top meal delivery service for vegan meals. The business Green Chef gives sustainable ingredients more attention.
The company places a strong emphasis on offsetting 100% of its distribution- and operations-related carbon emissions in addition to procuring and using ingredients in sustainable forms. Consequently, the market for food delivery kits services in the United Kingdom is anticipated to be driven by competitors' efforts to emphasise sustainability more.
Particularly in the UK, consumer expenditure on food boxes and meal packages has significantly expanded. Also, the rapidly expanding demand for meal delivery kits in both urban and rural areas is expected to boost sales of meal delivery kits in the coming years.
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Key Takeaways from the Meal Kit Delivery Services Market Study
By offering type, heat and eat segment is expected to witness highest growth over the forecast period (2022-2032)
In terms of meal type, vegan segment will gain traction through 2022 beyond
By sales channel, online segment is expected to witness robust growth between 2022 and 2032
Australia is expected to dominate the Oceania meal kit delivery services market on the back of growing trend of veganism
India is expected to witness fastest growth in South Asia meal kit delivery services market backed by the presence of leading food delivery chains
Increasing health consciousness has further encouraged the players operating in the delivery of meal kits services market to expand their meal offerings to include vegan and plant-based meals in their offerings. This is anticipated to boost the market over the forthcoming decade, says an FMI analyst.
Who is winning?
Key players are undertaking extensive efforts to promote their meal kit delivery services. Market players are focused on undertaking promotional strategies to voice out their service penetration in different markets.
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Some of the major players present in the meal kit delivery services market are Blue Apron LLC, Freshly Inc., Hello Fresh Group, Sun Basket, Relish Labs LLC, Gobble, Marle Spoon Inc., Purple Carrot, Hungryroot and among others.