Meal Kit Market

Global Meal Kit Market Size (2024 to 2032)

As per our analysis report, the global Meal Kit Market is expected to reach USD 69.26 billion by 2032 from USD 18.87 billion in 2024, growing at a compound annual growth rate (CAGR) of 17.65% during the forecast timeline. The online distribution channel is expected to have the largest market share in the meal kit market as it offers convenience and saves time. The North American region holds a large market share with an increased urbanization trend in the region.

MARKET DRIVERS

The provision of convenience for busy lifestyles is expected to drive the meal kit market.

Modern life revolves around work, family, and personal life, leaving less time for elaborate meal preparation. Busy professionals, working parents, and individuals busy with an active social life are increasingly seeking a simplified routine life and tasks, including cooking. Meal kits provide a solution for this by offering the convenience of providing required pre-cooking ingredients, easy-to-follow recipes, and quick cooking time. These reduce the time spent on almost all activities of meal preparation and can be assumed as the pre-portioned ingredients delivered to the doorsteps. This convenience extends beyond saving time; it reduces mealtime stress and saves time & energy that can be used for other activities. This driver plays a significant role in the growth of the market.

The growing focus on health and wellness, along with the sifting consumer priority, is driving the meal kit market growth. Consumers are increasing their priority towards healthy eating habits. There are more preferred meals, whether it may be vegan, gluten-free, or calorie-controlled, that fit their daily dietary needs and preferences. The meal kit is a perfect offering to this growing demand by offering fresh, high-quality, balanced, and customized food meals delivered to the required place. This focus on health and wellness drives the diversification in the market as the companies also started to focus on the wide range of dietary-specific meal options, allowing for customization. This helps reach the market and target the border customer range while promoting healthy eating habits and fuelling the overall growth of the meal kit market.

MARKET RESTRAINTS

There are several restraints that hinder its growth and expansion of the meal kit market.

The primary obstacle includes the cost; the meal kits are more expensive than traditional grocery shopping, which may hinder potential customers and the adoption of new customers. The recent most discussed topic is sustainability. The meal kit market also has sustainability concerns, with the industry generating a significant amount of packaging waste. The packaged waste is more seen in the pre-packaged meals. The market players are more focused and are actively working on the issue through more eco-friendly packaging options, but it is one of the major concerns in the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Meal Kit Market Analysis By Type

The non-vegetarian segment holds the largest share in terms of revenue in the meal kit market during the forecast period. This segment has the boarder consumer appeal as it is the most demanded and caters to a larger population in the world. This is because people are not exclusively vegetarians but enjoy a variety of nonvegetarian foods such as meat and seafood options. In addition, meat and seafood are rich in protein and are the best food for those who follow protein-centric diets or for athletes. The nonvegetarian option is preferred to meet their dietary requirements.

Global Meal Kit Market Analysis By Offering

The ready-to-eat accounts for the largest share in the meal kit market during the forecast timeline owing to the rapid growth of several compelling reasons. Consumers are increasingly seeking fast, convenient, and efficient in their meal options with the fast-paced modern lifestyle. Ready-to-eat foods are one of the best choices as they offer a hassle-free solution, saving time and effort that aligns with the following key factors driving the growth of the market. Nowadays, people are busy and find it challenging to prepare homemade meals from scratch due to time constraints. RTE foods include pre-packaged salads, microwaveable dinners, and grab-and-go snacks that provide an instant and accessible option for individuals with hectic schedules. This is a convenient option for those who live in urban areas, where commutes and work hours are long and where home cooking is less feasible.

Global Meal Kit Market Analysis By Distribution Channel

In recent years, the online segment has held the largest market share in the meal kit market and accounts for the highest revenue shareholder segment in the market. The growth is driven by the convenience of online shopping. Online shopping allows consumers to browse and purchase products from the comfort of their homes or on the go through their mobile devices, which are delivered to their doorsteps. It not only offers convenience but also saves the time and effort required to go to physical stores. It eliminates the need for physical travel to brick-and-mortar stores and the waiting time in billing counters.

REGIONAL ANALYSIS

North American region is expected to dominate the market with the largest revenue share in the meal kit market during the forecast time period. The growth in this region is attributed to the urbanization trend, which led to the rise in demand for convenient food choices. In Urban areas, working women's schedules often have little time for cooking. To them, these meal kits provide a convenient solution with healthy and quality food. North American region has a large penetration of smartphones, and internet connection also drives the market. Nowadays, service providers are incorporating technology to make it easy for consumers to order and manage their subscriptions online or through the company’s mobile app. This technology integration contributes to market growth and accessibility.

KEY PLAYERS IN THE GLOBAL MEAL KIT MARKET

Major players in the meal kit market are Blue Apron LLC, HelloFresh, Kraft Heinz Company, Relish Labs LLC, Fresh n’ Lean, Sun Basket; Marley Spoon Inc., Purple Carrot; Freshly Inc.; Gobble; The Kroger Co; Oisis ra Daichi Inc.; Yumble; Hungryroot; Global Belly; Snap Kitchen.

RECENT HAPPENINGS IN THE MARKET

• In 2023, Blue Apron and DashMart by Door Dash expanded their partnership to bring Blue Apron’s Heat & Eat meals to 11 new markets, including New York City. This move helps broaden the reach of the company and makes its product more accessible, thereby aligning with its commitments.
• In 2022, a new product line called SOSU from Amoy was introduced by Kraft Heinz Company. It has meal kits and cooking ingredients. The new product range aims to combine the flavors of Pan-Asian regional cuisine with the convenience of quick and easy meals that can be prepared in just 15 minutes. It mainly targets customers who are interested in cooking but have limited time to do it.
• In 2022, Discovery Global Consumer Products by Hello Fresh and Warner Bros launched a limited-edition meal kit by the name Elf Spaghetti Meal Kit. It was inspired by the movie “Elf” and includes all the ingredients required to make the spaghetti dinner. The product is available for purchase on the Hello Fresh website for a short period.

DETAILED SEGMENTATION OF THE GLOBAL MEAL KIT MARKET INCLUDED IN THIS REPORT

This research report on the global meal kit market has been segmented and sub-segmented based on type, offering, distribution channel and region.

By Type

• Vegetarian
• Nonvegetarian
• Vegan
• Paleo
• Keto
• Mediterranean
• Others

By Offering

• Cook & Eat
• Heat & Eat
• Ready-to-eat

By Distribution Channel

• Online
• Grocery stores
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa