Meal Kit Market to Grow at 18.7% CAGR, Reaching $41.11 Billion by 2029

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Meal Kit Market Outlook: How is the Market Expected to Grow by 2025?
The expansion of the meal kit market has been swift and significant in the past few years. Its size is projected to escalate from $18.04 billion in 2024 to $20.71 billion in 2025, recording a compound annual growth rate (CAGR) of 14.8%. This growth during the historic timeframe is linked with factors such as cultural diversity and culinary curiosity, the growing trend for convenience, evolving lifestyles and work habits, a leaning towards healthy and fresh meal options among consumers, and the advent of food industry players into the marketplace.

Meal Kit Market Forecast: What Size Will It Reach By 2029?
In the coming years, the meal kit market is poised for swift expansion, reaching $41.11 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 18.7%. Factors contributing to this growth in the anticipated period include increased reliance on consumer data, a shift towards plant-based and vegan meal kits, the value of time-saving, convenient solutions, a broader menu of international dishes, and the demand for sustainable, eco-friendly packaging. Significant trends to watch during this forecast period encompass the popularity of do-it-yourself cooking, interest in regional and diverse cultural dishes, subscription flexibility, the use of technology in meal kit services, and collaborations between celebrities and chefs.

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Which Key Market Drivers Will Shape Meal Kit Industry Trends in 2025-2029?
The growth of the meal kit market is projected to be catalyzed by expanding urbanization and hectic lifestyles. Urbanization characterizes the enlargement of cities and an escalating percentage of individuals living within these urban areas. The surge in urban living, combined with a rise in individual income and transforming lifestyles, presents prolific opportunities for chilled meal kits. This is due to the surging necessity for convenient pre-prepared meals attributed to busy schedules, as well as the attractiveness of chilled meal kits for their cost-effectiveness and health advantages. For example, in 2022, the World Health Organization, a Switzerland-based global entity, stated that over 55% of the planet's population resided in urban regions. This figure is anticipated to ascend to 68% by 2050. Hence, the uptrend of urbanization and busy schedules is fuelling the expansion of the meal kit market.

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What Are the High-Growth Segments in the Meal Kit Market?
The meal kit market covered in this report is segmented -

1) By Type: Fresh Food, Processed Food
2) By Category: Vegetarian, Non-Vegetarian
3) By Distribution Channel: Hyper market/Super market, Convenience Store, Specialty Food Stores, Small Grocery Stores, Online Stores, Other Distribution Channels

Subsegments:
1) By Fresh Food: Fresh Ingredients Meal Kits, Organic Meal Kits, Seasonal Meal Kits
2) By Processed Food: Ready-to-Cook Meal Kits, Pre-Packaged Meal Kits, Frozen Meal Kits

Which Global Trends Are Driving Meal Kit Market Expansion?
Leading businesses in the meal kit market are introducing innovative services for home-cooked meal delivery. Home-cooked meals are usually cultivated and cooked in a home kitchen, typically using fresh and nourishing ingredients. They are known for their health benefits and personalization compared to meals bought from a restaurant or store. For example, in February 2023, Zomato, a food delivery firm based in India, unveiled Zomato Everyday. This service provides freshly cooked meals akin to homemade food, created by actual home cooks at economical prices. This service, currently accessible in specific parts of Gurugram, offers meals starting from just Rs 89.

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Who Are the Fastest-Growing Companies in the Meal Kit Industry?
Major companies operating in the meal kit market include Ahold Delhaize USA, HelloFresh SE, Daily Harvest Inc., Home Chef LLC, Blue Apron Holdings Inc., Marley Spoon AG, Fresh Direct LLC, Gousto Ltd, Hungryroot Inc., Sun Basket Inc., Green Chef Corporation, Freshly Inc., Sakara Life Inc., Fresh Prep Inc., Trifecta Nutrition, Quitoque, Purple Carrot Inc., Veestro LLC, Gobble Inc., Yumble Kids Inc., Foodstirs Inc., PeachDish LLC, EveryPlate, Just Add Cooking Inc., Relish Labs LLC, The Kroger Co

What Is the Regional Outlook for the Meal Kit Market by 2029?
North America will be the largest region in the meal kit market in 2024. The regions covered in the meal kit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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