Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) — The “Global Meal Kit Delivery Market (2023 Edition): Analysis By Offering Type (Heat and Eat, Cook and Eat), Sales Channel (Online, Offline), By Demography, By Region, By Country: Market Insights and Forecast (2019-2029)” report has been added to ResearchAndMarkets.com’s offering.
The Global Meal Kit Delivery Market is expected to generate USD 33.7 billion by the end of 2029, up from USD 11.7 billion in 2022. A favourable growth element for the global Meal Kit Delivery market is the growing demand for convenience and time-saving, changing lifestyles, health and nutrition, variety and dietary preferences, and sustainability initiatives. During the forecast period, 2024-2029, the market is expected to expand at a CAGR of 16.3%.
Blockchain technology appeals to consumers concerned about food safety and sustainability. According to the industry association, more than 28 million users subscribed to meal kit delivery services, many meal kit companies operate on a subscription basis, where customers sign up for regular deliveries of meal kits. Subscribers typically receive a box with ingredients and recipes on a weekly or monthly basis.
Lockdowns, social distancing measures, and restaurant closures during the pandemic led to a surge in demand for at-home dining options. Also, the pandemic accelerated the growth of e-commerce across various industries, including meal kit delivery. Consumers became more comfortable with online ordering, and meal kit companies capitalized on this trend by offering user-friendly websites and mobile apps for ordering and customization.
Cook-and-eat meal kits offer a high degree of customization. Customers can adjust ingredient quantities, add personal touches, and experiment with flavours, giving them creative control over their meals. This factor appeals to individuals who want to tailor their dishes to their unique taste preferences and dietary restrictions.
Generation Z is characterized by its familiarity with digital technology and online platforms. Meal kit providers leverage online ordering, user-friendly mobile apps, and digital marketing strategies, making it easier for tech-savvy consumers to discover, order, and manage their meal kit subscriptions.
Meal kit delivery services have capitalized on the convenience and efficiency that technology and e-commerce platforms offer. According to industry associations, more than 1.7 billion people ordered meal kit online. E-commerce platforms have made it easy for consumers to browse meal kit options, place orders, and set up subscriptions for regular deliveries.
The growing number of nuclear families in the Asia-Pacific region represents a ripe market for meal kit delivery companies. These families are seeking convenient, customizable, and time-saving meal solutions that align with their busy lifestyles and diverse preferences. By tailoring their offerings to cater to the unique needs of nuclear families, meal kit providers can tap into this expanding demographic and establish themselves as valued partners in family meal planning.
Scope of the Report
- The report analyses the Meal Kit Delivery Market by Value (USD Million).
- The report presents the analysis of Meal Kit Delivery Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
- The report analyses the Meal Kit Delivery Market by Offering Type (Heat and Eat, Cook and Eat).
- The report analyses the Meal Kit Delivery Market by Demography (18-24 years, 25-34 years, 35-44 years, 45-55 years, 55 years & Above).
- The report analyses the Meal Kit Delivery Market by Sales Channel (Online, Offline).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by services, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include HelloFresh, Blue Apron Holdings, Marley Spoon, Gobble, Daily Harvest, Sunbasket, Fresh N Lean, Home Chef, Hungryroot, and Purple Carrot.
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For more information about this report visit https://www.researchandmarkets.com/r/dyl9c3
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- Global Meal Kit Delivery Market