Meal Kit Delivery Services Market Analysis Report By Offering, By Service, By Platform, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620256  |  Published: July 2021  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Food & Beverage

Synopsis

The global meal kit delivery services market was prized by USD 10.26 billion in 2020. It is estimated to witness a 13.0% CAGR from 2021 to 2028.

Drivers

The rising inclination for home-grown food, among millennials, is a most important factor, adding to the enlargement of the market for meal kit delivery services. The service is getting an extraordinary reputation along with the acceptance between age bracket Y and Z. The majority of customers are of the view that the cost compensated for the service is reasonable for the profit it offers.

US meal kit delivery services market size

The rising fondness for the meal kits is propelled by the profits of home-produced mealtime. For example, domestic foodstuff is additionally reasonably priced than the intake at a restaurant. Besides, the accessibility of the meal kits has prepared home-produced food, extra time-saving, in contrast to the home deliveries as well as takeouts.

Furthermore, cooking food at residence provides a complete check above the ingredients, an individual needs to make use of. Similarly, people can decide to evade, particular ingredients for which they have an allergy.

These meal kits are getting global recognition, due to the convenience and comfort of the products. The important factors powering the meal kit delivery services comprise the enlargement of the working women populace, the wealthy standard of living, and the rising number of millennial customers. This has caused changes in everyday life and a lesser amount of time for cooking at home, which is propelling the meal kit delivery services market, all over the world.

Effect of Covid-19

The outbreak of the Covid-19 pandemic has presented a major opening for the market, since approximately each and every one hotel, restaurant, and eaterie, were globally shut down. The citizens are concentrating on healthful food and drink, more than ever, to augment their resistance, as well as continue equalized eating habits.

A meal kit looks like to be a single end way out for almost every company, through the complete Food & Beverages system. It includes restaurants, e-retailers, FMCG brand owners, and retailers, to take them out of this blockage, caused by the pandemic and make the best use of the opening in the present situation.

Platform Insight

The online platform segment held the biggest, above 60.0% share of the meal kit delivery services market, in 2020. The supplier companies have set up an online stage, which is competent for supplying services to the customers by means of larger flexibility via round-the-clock accessibility.

The offline platform is likely to record the highest 14.0% CAGR, during the forecast period. Offline meal kits exist at Tesco, Wal-Mart, Kroger, plus additional main retailers. Owing to the huge customer base of these supplies, large as well as small companies, together, present their meal kit, via this network. Besides, several customers love to procure meal kits, together with additional grocery foodstuffs. This is stimulating the demand, by means of the offline platform.

Service Insight

The single service kits section held the biggest, above 55.0% share of the meal kit delivery service market, in 2020. The single service kits are, particularly, suitable for the bachelors, those are studying, paying particular attention to a degree, otherwise are residing away from the family unit and are operational or concerned with a specific job in addition to are not capable to spend sufficient time in food preparation.

The multiple service kits are projected to record the highest 13.4% CAGR, during the forecast period. The families are growing to be stressed and busier since a big number of family units include two working parents. With the intention of decrease this load, family units are picking up meal kit delivery services, which offers a correct clarification to the time as well as energy exhaustive job of food preparation.

Offering Insight

Cook & eat sector detained the biggest 61.0% share of the meal kit delivery service market, in 2020. It is anticipated to uphold its advantage, during the forecast period. This can be credited to the reputation of gourmet-style, home-cooking between young people. Moreover, it permits one attempt innovative recipes, otherwise epicure food with no extra expenses for eating at the eatery.

Global meal kit delivery services market share

The heat & eat section is expected to record the highest 13.4% CAGR, during the forecast period. The providers of heat & eat meal kit delivery service, a present ready serving of food to the customers. These foods are cooked by the chefs; customers can also select their ingredients for the mealtime or choose from the already offered recipes, on the website.

Regional Insight

In 2020, North America detained the leading, more than 45.0% share of the global meal kit delivery services market. The business of food service in Canada and the U.S. is observing substantial enlargement, during the latest history. To save their effort and time, a substantial number of customers purchase meal kits, within the region. Meal kits have turned into a reasonably priced and better option to pre-cooked food substances, existing in retail restaurants, otherwise in stores.

Asia Pacific is projected to enlarge by the highest, 14.5% CAGR, during the forecast period. By reason of the freshness and easiness of the meal kits, the local market is anticipated to observe unbelievable enlargement, during the near future. The rising figure of the customers having a shortage of time, within the region, has been pushing the demand for the service. South Korea, China, and Japan are the major markets of the region. Still, the pandemic of the Covid-19 virus has augmented the significance of home-cooked foodstuff and outpouring the demand for meal kits, within the nations.

Companies

The companies have adopted the main tactical programs like mergers & acquisitions. The market is described by the attendance of many media as well as small sizes and a small number of entrenched companies.

Some of the companies for meal kit delivery services market are:

    • Real Eats
    • Splendid Spoon
    • Snap Kitchen, LLC
    • Factor75 LLC
    • Fresh and Easy
    • bistroMD, LLC
    • Fresh n' Lean
    • Marley Spoon Inc.
    • Relish Labs LLC (Home Chef)
    • Green Chef Corporation
    • Freshly Inc.
    • Blue Apron, LLC
    • Diet-To-Go
    • Daily Harvest
    • Trifecta Inc.
    • Sun Basket
    • Cook Unity
    • Takeout Kit
    • Purple Carrot
    • Hungry root
    • Hello Fresh
    • Gobble
    • Every Plate

Report Scope

Report Attribute

Details

The market size value in 2021

USD 12.73 billion

The revenue forecast in 2028

USD 27.33 billion

Growth Rate

CAGR of 13.0% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Offering, service, platform, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Mexico; Germany; U.K.; France; China; Japan; Brazil

Key companies profiled

Blue Apron, LLC; EveryPlate; Freshly Inc.; Gobble; Green Chef Corporation; HelloFresh; Relish Labs LLC (Home Chef); Hungryroot; Marley Spoon Inc.; Purple Carrot; Fresh n' Lean; Takeout Kit; bistroMD, LLC; CookUnity; Fresh and Easy; Sun Basket; Factor75 LLC; Trifecta Inc.; Snap Kitchen, LLC; Daily Harvest; Splendid Spoon; Diet-To-Go; RealEats

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global meal kit delivery services market report on the basis of offering, service, platform, and region:

• Offering Outlook (Revenue, USD Million, 2016 - 2028)
    • Heat & Eat
    • Cook & Eat

• Service Outlook (Revenue, USD Million, 2016 - 2028)
    • Single
    • Multiple

• Platform Outlook (Revenue, USD Million, 2016 - 2028)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • The Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa

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