Global Meal Kit Delivery Service Market Worth USD 8.94 Billion by 2025: Hexa Research

Global Meal Kit Delivery Service Market Worth USD 8.94 Billion by 2025: Hexa Research

PR Newswire

FELTON, California, March 13, 2019

FELTON, California, March 13, 2019 /PRNewswire/ -- The global meal kit delivery service market was around USD 2.5 billion in 2017 and expected to reach USD 8.94 billion by 2025 with a CAGR exceeding 17.15% from 2017 to 2025. Increasing working professionals worldwide form the primary customer base for these delivery services. This will favor the market growth over the forecast period. This technique helps consumers to get out from comfort zones in terms of cooking techniques and ingredients.

Companies provide a precise quantity of ingredient inside the box which decreases the wastage of food. People prefer to have a meal kit for their dinner. Convenience concerning food preparation and grocery purchase planning is also resulting in the increased demand for the global meal kit delivery service market.

Companies are offering many web features to the consumers, for instance, people can change the delivery time every day from their portal, and they can choose the recipe from the appealing photos of prepared food which helps them to cook chef's quality food at home. Major companies are acquiring startup companies and signing up the partnership deals to increase their market reach. For instance, Home Chef signed up a partnership with Kroger where they can use their resources to expand market reach.

The introduction of home delivery service concept through online mobile applications has revolutionized the idea of the meal kit market. As a result of changing consumer lifestyles, busy professionals and youth especially seeking a blend of ready to eat or convenient food to maintain a healthy lifestyle.

Companies are customizing their offerings based on consumers' food habits. It is observed that gluten-free food diet has become one of the most popular diet trends followed in the U.S. Disorders like non-celiac gluten sensitivity (NCGS), celiac disease (CD), gluten ataxia and other illnesses are driving people to prefer gluten-free diet.

Browse full research report with TOC on "Global Meal kit Delivery Service Market Size And Forecast, By Type (Fresh Food, Process Food) And Trend Analysis, 2015 - 2025" at: https://www.hexaresearch.com/research-report/meal-kit-delivery-service-market

Companies are providing gluten-free meal kit which is pooling more customers. Blue Apron and Green Chef are offering a special gluten-free menu. Green chef got certification through the gluten intolerance group to provide gluten-free food service. It helps their customer to believe in their product.

Fresh food segment is the largest and fastest growing segment in the global meal kit delivery service. This segment is estimated to be worth USD 1.3 billion in 2017 and expected to reach above USD 4 billion by 2025 with a CAGR of more than 14% from 2017 to 2025.

People prefer to include healthy and portion controlled food in their diet. Increasing healthy lifestyle trend is driving the growth of this segment. Demand for meat protein on dinner is driving the growth of the processed food market. In 2017, around 45% of the global market is contributed by the processed food segment and is growing at a CAGR of around 20%.

North America is the most significant contributor to the global meal kit delivery service market. It is expected to grow at a CAGR of more than 19%. The region accounts for 45% of the total market. The increasing trend of nuclear families and the rising number of working couples positively influences the acceptance of meal kit delivery services in the region. The number of meal kit subscription is also growing day by day.

In 2017, over 10 million U.S. households used meal kit delivery service. The U.S. is the largest consumer of meal kits and the market is growing at a significant pace. Busy lifestyles is driving people to use this service to enjoy hassle-free cooking. In 2017, the U.S. market was valued at USD 900 million and is expected to reach around USD 4.0 billion by 2025 with a CAGR of more than 20%. It is observed that Australian households who purchased Marley Spoon and HelloFresh were more than 1.5% of total households. People with below 45 years age group are majorly ordering meal kits in Australia.

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Major companies operating in this market are Blue Apron, LLC, Just Add Cooking, Foodstirs, Inc., HelloFresh, Marley Spoon Inc. etc. Small startups are getting acquired by large grocers and retailers. For instance, Amazon acquired Whole Foods to enter the market. The market is fragmented by nature with the presence of many small and big players. With the growth of the market, it is expected that many more companies will enter the market.

Browse related reports by Hexa Research:

Hexa Research has segmented the meal kit delivery service market report based on type and region: -

Segmentation by Type

Segmentation by Region

Key players analyzed

About Hexa Research

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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