Meal Kit Delivery Services Market Scenario
Meal kit delivery services offer meals delivered in a timely manner to customers at their convenience. The service offers ready-to-cook or ready-to-eat meals at the doorstep of customers according to the subscription. Market Research Future (MRFR) has compiled the global meal kit delivery services market with the help of supporting statistics and growth trends witnessed due to the boom in technological innovation. Its insights can help meal kit delivery service operators in crafting a customized strategy in terms of their operational and capital strength.
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The global meal kit delivery services market is estimated to accrue significant revenue by exhibiting a CAGR of 8.50% during the forecast period (2018-2023). It can expand in size due to the flux of customers migrating to urban areas for employment. Urban areas booming due to a flux of employment and business opportunities are prime factors driving the market demand for such services due to the hectic lifestyles led by their customers.
The penetration of smartphones due to communication networking technologies and the uptick in disposable income levels of customers have led to the access to such services by the help of mobile applications. In addition, the rise of dine-in services due to taxes imposed on restaurants and hotels can drive the market demand exponentially till 2023. The expansion of retail and food service sectors can positively ensure the growth of the global meal kit delivery services market till the end of the forecast period.
PeachDish, Sun Basket, Gousto, Purple Carrot, Blue Apron, LLC, Marley Spoon Inc., Home Chef, ButcherBox, Plated, and HelloFresh are some of the prominent names in the global meal kit delivery services market.
Ready-to-eat meals provider Thalia, a Malaysian company, is planning to open more facilities in the country to reach a wider consumer base. It is expected to amp up its production of frozen lasagnas and spaghettis and create partnerships across hotel and restaurant chains for sustaining its position.
The global meal kit delivery services market report is segmented by food type, serving, and distribution channel.
By Food Type, it is segmented into ready-to-cook and ready-to-eat.
By Serving, it is segmented into one, two, four, and others.
By Distribution Channel, it is segmented into two major categories, store-based and non-store-based.
North America, Asia Pacific, Europe, and Rest-of-the-World (RoW) are the regions being considered for the basis of the report.
North America is expected to lead the market due to inclination of customers towards ready-to-eat meals, presence of various options, and the large populace. In addition, the inclusion of fresh ingredients as well as detailed instructions can drive the demand exponentially.
Europe can command a sizeable market share in the global market due to the rise in veganism and trend of cooking RTE meals. Food delivery services which source their own ingredients and partner with locals for cultivating natural produce can drive the market demand. In addition, new health diets and wellness trends can influence the market growth in the coming years.
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The APAC region can experience a huge windfall due to the sanguine demand for RTE meals from India, China, and Australia. Penchant for fast foods as well as the large millennial demographic can drive the market demand. Interest in local foods such as biryani over burgers and shakes is predicted to create a market demand. In addition, the shift to cloud kitchen models by delivery services as well as partnerships with delivery personnel to ensure customer service can bode well for the global meal kit delivery services market.
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