Meal Kit Delivery Services Market is projected to increase at 15.5% CAGR during 2022-2029, reaching USD 53.2 billion | Size, Share, Trends & Forecast

Meal Kit Delivery Services Market

Meal Kit Delivery Services Market registered a revenue of USD 16.8 billion in 2021 and is projected to reach USD 53.2 billion in 2029, growing at a very high CAGR of 15.5% during the forecast period from 2022-2029

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The factors driving the growth of Meal Kit Delivery Services Market includes growing preference for chef-cooked food meals amongst millennials, increasing consumers inclination towards adopting healthy lifestyles, rising demand for plant-based food products and improvements in the living standards. According to the report published by Bloomberg, the Global Plant-Based Food Market is expected to reach USD 24.03 billion by the end of 2030, growing at a CAGR of 18.7% over the forecast period, which will accelerate the Meal Kit Delivery Services Market share in the approaching years. Moreover, increase in the number of restaurants, cafés, and hotels, emerging trend of veganism, rise in the launch of innovative products, growing internet penetration rates and rapids urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic mergers, and partnerships between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Meal Kit Delivery Services Market is hindered due to high cost of delivering meal kits.

The major players operating in the Meal Kit Delivery Services Market are Freshly, Purple Carrot, EveryPlate, Daily Harvest HelloFresh, Sunbasket, Gobble, Fresh and Easy Home Chef, Green Chef, and Blue Apron, among others.

Based on Type, the Vegetarian segment is predicted to capture the largest market share during the forecast period

Growing demand for meal at doorstep services and increase in the number of vegan populations worldwide, are propelling growth of the segment.

Based on Distribution Channel, the Online segment is projected to lead the market over the forecast period

Online platforms provide consumers the option to order required ingredients at their convenience along with rising internet penetration rates, are pushing segment's growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

As per the Meal Kit Delivery Services Market Trends, increasing internet penetration rates, proliferation of smart devices, presence of the leading players such as Home Chef, Green Chef and Freshly, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In 2021, Green Chef, HelloFresh's brand "specialized diet" meal kits, reached the U.K. Market to service clients "not catered for" by the company's current offering.
In 2021, Sodexo and HelloFresh partnered for developing its first on-campus meal kit delivery service. HelloFresh and EveryPlate provide meal kits for a student across 300 U.S. colleges and universities.

Market Segmentation

Segmentation by Type

Vegetarian
Non-vegetarian

Segmentation by Offering

Vegetarian
Non-vegetarian

Segmentation by Distribution Channel

Online
Offline

Segmentation by End-Users

Households
Hospitals
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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