Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Meal Kit Delivery Services Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts- 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The report analyzes the meal kit delivery services market and its growth trends from 2023 to 2031. The market is expected to grow at a CAGR of 15.5% during this period. Meal kit delivery services offer pre-portioned ingredients and recipes delivered to consumers' doorsteps, providing a convenient and time-saving solution for meal planning and grocery shopping.
The report highlights several key drivers contributing to the growth of the meal kit delivery services market:
- Convenience and Time-saving: Busy lifestyles and the desire for convenient meal solutions have led consumers to seek alternatives to traditional meal preparation. Meal kits provide a convenient option by delivering pre-portioned ingredients and step-by-step recipes directly to consumers' doorsteps.
- Increasing Preference for Healthy and Nutritious Meals: Consumers are becoming more health-conscious and seeking balanced and wholesome meal options. Meal kit delivery services often offer menus with fresh, organic, and locally sourced ingredients to cater to these preferences.
- Impact of the COVID-19 Pandemic: The pandemic has accelerated the growth of the meal kit delivery services market, as lockdowns and restrictions on dining out have increased the demand for at-home dining options. Meal kits have emerged as an attractive alternative to restaurant takeaways.
Despite these positive drivers, the market also faces challenges, including packaging waste and environmental concerns. The individual packaging of ingredients and insulation materials used for freshness during delivery contribute to environmental pollution and waste accumulation. Addressing these concerns and finding sustainable packaging solutions remains a challenge for the industry.
The report further segments the market based on offering, service, platform, meal type, and region. It provides market revenue and compound annual growth rate (CAGR) projections for each segment during the forecast period.
- Offering: The market is segmented into Heat & Eat and Cook & Eat meal kits.
- Service: Meal kits are categorized as Single (specializing in a specific type of meal) and Multiple (offering a range of meal options throughout the day).
- Platform: Meal kits are offered through Online and Offline channels.
- Meal Type: The market is divided into Vegan, Vegetarian, and Non-Vegetarian meal kits.
- Region: The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In terms of revenue, the multiple-service meal kit segment dominated in 2022, due to its wider customer base and ability to cater to different meals throughout the day. However, single-service meal kits are expected to have a higher CAGR during the forecast period due to their specialization in specific meal types and potential for higher customer loyalty.
Similarly, the non-vegetarian meal kit segment held the highest revenue in 2022, but the vegan meal kit segment is expected to have a higher CAGR during the forecast period, driven by the increasing popularity of plant-based diets.
North America held the largest revenue share in 2022, with the United States as a key contributor. Europe and Asia Pacific are also witnessing substantial growth in the meal kit delivery services market.
The market is highly competitive, with several players vying for market share and consumer loyalty. Major players in the industry include HelloFresh, Blue Apron, Sun Basket, Purple Carrot, Home Chef, and Gousto.
Overall, the report provides comprehensive insights into the meal kit delivery services market, including market drivers, challenges, trends, and growth projections for different segments and regions. It also offers strategic recommendations and profiles of key competitors to help businesses make informed decisions.
For more information about this report visit https://www.researchandmarkets.com/r/szkqp5
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