Global Meal Kit Market Size to Reach USD 46.75 Billion by 2028, Exhibiting a CAGR of 17.4%.

Market Overview:

The Meal Kit Market was estimated at USD 15.21 Billion in 2021 and is projected to reach USD 46.75 Billion by 2028, growing at a CAGR of 17.4% over the analysis period.

Meal kits are a new concept in the food and beverage industry, offering customers partially or fully cooked meals delivered to their doorstep. These services aim to simplify grocery shopping, and meal planning, and provide a restaurant-like experience at home. Customers can customize their meal kit with ingredients of their choice, catering to their family or individual preferences. The convenience of selecting healthy ingredients year-round is a significant factor driving the meal kit market. The growing preference for homemade meals among millennials and busy individuals, such as working couples and parents, is contributing to the market's growth. These individuals appreciate the pre-planned ingredients or meals, which make meal preparation easier.

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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis which help to understand the market direction and movement in the current and upcoming years.

Top Key Players Covered In Meal Kit Market
• Sunbasket(San Francisco)
• Home Chef (United States)
• EveryPlate (New York)
• Blue Apron (USA)
• Gobble (San Francisco)
• HelloFresh (German)
• Green Chef (New York)
• Purple Carrot (US)
• Cook it (Canada)
• Plated (USA)
• My Food Bag (New Zealand)
• Home chef (Chicago), and other major players.

Market Dynamics:

Driver:

Meal kits offer customers the convenience of cooked or partially cooked meals, eliminating the need for grocery shopping and meal planning. With urbanization on the rise, customers enjoy the restaurant-like experience of recreating meals at home. The availability and convenience of meal kits contribute to their rapid growth worldwide. Customizable options cater to customers' dietary and fitness needs, driving market expansion. Vendors provide easy-to-follow recipes to ensure customer satisfaction and retention. In busy schedules, meal kits play a crucial role in delivering timely and healthy meals to individuals, fostering market growth in the future.

Opportunities:

The meal kit market has a great chance to grow through online platforms by providing excellent food meal services and doorstep deliveries. Major players like Hello Fresh and Blue Apron have already capitalized on this opportunity by creating online marketplaces where subscribers can add necessary ingredients and grocery items to their meal purchases, enhancing their healthy diet. This market has the potential to shift from subscription services to comprehensive online marketplaces that offer more than just meal kits.

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Market Segmentation

By Offering
• Heat & Eat
• Cook & Eat

By Serving
• Single
• Multiple

By Platform
• Online
• Offline

By Meal Type
• Vegetarian
• Non-vegetarian

Regional Analysis Of Meal Kit Market
North America dominated the meal kit market and accounted for the largest share in the recent years. A large number of consumers opt for these kits in this region as they are cost effective as well as save time. With the rapidly growing industrialization and urbanization, the meal kit has become an inexpensive and healthier alternative to pre-cooked food items available in restaurants, hotels, retail or delivery services. Furthermore, leading companies in the region such as Sun Basket and Blue Apron have witnessed a huge increase in product demand during the pandemic situation, as consumers felt safer and healthier to eat home-cooked food.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Key Industry Development In The Meal Kit Market
In January, 2021, Sunbasket, best known for its meal-kit subscription service, announced that they are broadening their product line and evolving to become "a full-service food delivery company." The newly revamped service will offer a range of different food items to consumers, from full meals to snacks and pantry staples. Reaching more potential customers, including those who need something more convenient than a full-on meal kit, seems to be at the heart of this transition.
In December, 2020, Franklin Farms, a company that provides meatless meals to customers, entered into a new partnership with Purple Carrot, a plant-based meal kit company. The partnership will allow consumers to enjoy great-tasting meatless meals made with Franklin Farms' tofu at home. In July 2021, Hello Fresh, a meal kit company, announced its partnership with Fenn Foods. Hello Fresh will be expanding its vegan offerings in Australia by utilizing Fenn Foods' carbon neutral-certified, plant-based mince as an ingredient in their "Chilli Cin Carne" recipe.

Table of content: -

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
 3.1 By Offering
 3.2 By Serving
 3.3 By Platform
 3.4 By Meal Type
Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Chapter 5: Meal Kit Market by Offering
 5.1 Meal Kit Market Overview Snapshot and Growth Engine
 5.2 Meal Kit Market Overview
 5.3 Heat & Eat
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Heat & Eat: Grographic Segmentation
 5.4 Cook & Eat
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Cook & Eat: Grographic Segmentation
Chapter 6: Meal Kit Market by Serving
 6.1 Meal Kit Market Overview Snapshot and Growth Engine
 6.2 Meal Kit Market Overview
 6.3 Single
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Single: Grographic Segmentation
 6.4 Multiple
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Multiple: Grographic Segmentation
Chapter 7: Meal Kit Market by Platform
 7.1 Meal Kit Market Overview Snapshot and Growth Engine
 7.2 Meal Kit Market Overview
 7.3 Online
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Online: Grographic Segmentation
 7.4 Offline
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Offline: Grographic Segmentation
Chapter 8: Meal Kit Market by Meal Type

To Be continue…

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