Meal Kit Market Research Report: Forecast (2024-2030)
The Global Meal Kit Market size was valued at around USD 16.2 billion in 2023 and is estimated to grow at a CAGR of about 18.21% during the forecast period, i.e., 2024-30. The rapid growth of the female workforce is anticipated to fuel market expansion as both partners in family face time constraints, reducing the time available for cooking and grocery shopping. The growing trend of cooking as a hobby among educated individuals is expected to drive the meal kit industry’s growth. With limited time, they opt for meal kits over restaurant-prepared food, streamlining their vegetable shopping process.
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Market Dynamics
Global Meal Kit Market Driver: Economical Solutions & Diverse Offerings to Drive Market Growth
Meal kits simplify the cooking process by eliminating the need for consumers to plan and shop for groceries, allowing them to save valuable time during meal preparation. They encourage culinary exploration by including simple recipes and cooking tips in a pre-packaged box with precisely measured ingredients. Moreover, freshness and portion sizes are prioritized by providers who cater to both individuals and busy families looking for convenient, freshly prepared meals.
Vendors offer subscription models tailored to individual dietary needs in response to the faster pace of modern life. Furthermore, subscribers receive regular deliveries of meal kits, eliminating the need for daily orders and assisting in the consistent achievement of dietary objectives. Hence, this convenience is expected to drive an uptick in demand, further enhancing the Meal Kit Market size in the near future.
Leading Companies in Meal Kit Market:
Blue Apron LLC., Daily Harvest, Fresh n’ Lean, Belly, Gobble, Gousto, HelloFresh, Hungryroot, Marley Spoon AG, Nestlé Group, Oisix ra Daichi Inc., Pruvit Ventures, Inc., Snap Kitchen, LLC., The Kroger Co., Yumble, Sun Basket, Bistro MD LLC, and others
Segmentation of the Industry
The Meal Kit Market is highly fragmented and bifurcates into the following segmentations:
By Type of Diet
-Vegan/Vegetarian
-Non-Vegetarian
By Type of Meal Kit
-Ready-to-Cook
-Ready-to-Eat
By Cuisine Type
-Continental
-Indian
-Arabic
-Italian
-Asian
-International
-Others (Greek, Mexican, etc.)
By Subscription Model
-Weekly
-Monthly
-Quarterly
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Regional Landscape
On the geographical front, the Meal Kit Market expands across the following:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
- North America accounts for the potential share of the Meal Kit Market during 2023 and would flourish in the forecast years as well.
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