Meal Kit Market

Market Definition

The global Meal Kit Market size was valued at USD 15.78 billion in 2022 and is predicted to reach USD 52.22 billion by 2030 with a CAGR of 18.7% from 2023-2030. A meal kit is a culinary concept that involves providing consumers with a comprehensive package of ingredients and step-by-step recipe instructions needed to prepare a specific meal at home. These kits are typically assembled by companies and can be delivered to customers' doorsteps or purchased in stores.

The primary goal of meal kits is to streamline the cooking process and make it more accessible to a wide range of consumers. Meal kits are produced by sourcing high-quality ingredients, portioning and packaging them according to specific recipes, and then distributing them to customers either through home delivery or in-store purchase. Manufactures of meal kit develops easy-to-follow recipes to enhance convenience and culinary exploration for consumers.

Market Dynamics and Trends

The demand for meal kit has increased due to the rising number of working population, along with the rise in the demand for pre-cooked meals that takes less time for preparation. For instance, in August 2021, the U.S. Bureau of Labor Statistics documented a significant rise in overall payroll employment, with the addition of 235,000 positions in the nation. These statistics reflect the changing dynamics of work and the need for meal options that cater to the busy schedules of working people.

The demand for meal kits has increased due to the growing health awareness and the need for convenient and healthy meal options. Meal kits offer consumers a variety of healthy and delicious recipes with pre-portioned ingredients, making it easy to prepare healthy meals at home without having to spend a lot of time in the kitchen.

According to the study by International Food Information Council Foundation in 2021, about 72% of consumers are aware that eating healthy is important to them, and 60% are willing to pay more for healthy food products. This growing demand for healthy food is one of the key factors driving the growth of the meal kit market across the world.

However, strict regulations associated with packed food products and high price of the meal kits, is restraining the growth of the meal kit industry during the forecast period. On the other hand, introduction of customizable meal kits that can be delivered at the doorstep, is expected to create ample growth opportunities for the market players in the upcoming years.

Market Segmentations and Scope of the Study

The meal kit market share is classified on the basis of type, offering, service, platform, meal type and region. On the basis of type, the market is divided into full kit, and starter kit, quick kit. On the basis of offering, the market is divided into heat & eat and cook & eat. On the basis of service, the market is classified into single and multiple. Based on platform, the market is classified into online and offline. On the basis of meal type, the market is categorised into vegan, vegetarian and non-vegetarian. The regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and Rest of World (RoW).

Geographical Analysis

North America holds the largest share of the meal kit market, which is primarily driven by growing health awareness and advances in the e-commerce sector in the region. Leading meal kit manufactures such as Home Chef, HelloFresh, and Freshly offer online ordering and delivery in the region, making it easy for consumers to order meal kits from the comfort of their homes and get healthy, pre-portioned ingredients delivered right to their doors. For instance, in July 2021, HelloFresh launched HelloFresh Market, an online store offering customers a range of add-ons, including healthy snacks, fresh produce, and organic meat. Thus, the easy availability of these health-conscious supplementary products in the region drives the growth of the market.

Furthermore, technological advancements enabled meal kit companies to personalize their offerings based on consumer preferences and purchase history, which have significantly boost customer retention in the region, in turn driving the growth of the meal kit market. For instance, in April 2022, Blue Apron initiated a new marketing campaign through its YouTube channel. The company claimed that it utilized segmentation research to gain insights into its customer demographics, allowing it to offer a seamless and personalized experience to specific customers.

On the other hand, Europe is expected to show a steady rise in the meal kit market due to the increasing emphasis on sustainability and environmental consciousness in the region. European consumers are becoming more aware of the environmental impact of food production and transportation. This heightened awareness has led to a growing demand for meal kits that prioritize locally sourced, organic, and sustainably produced ingredients.

For instance, a 2022 survey conducted by a European consumer research group found that 68% of respondents consider environmental sustainability when making food choices, indicating a strong preference for eco-friendly meal solutions. Also, European Union regulations and initiatives are driving adoption of sustainable meal kits in Europe. Meal kit providers are aligning with these goals, using eco-friendly packaging, minimizing food waste, and promoting responsible sourcing.

Moreover, presence of global meal kit manufactures such as Hello Fresh, Marley Spoon and regional players such as My Cooking Box and Parmareggio further boosts the growth of the market for meal kits. For instance, in October 2021, Hello Fresh announced that the company has started its operations in Italy and it aims to offer a range of meal kits specific to the region. These new meal kits will range from a variety of dishes such as traditional Italian classics to global cuisines. This is expected to enhance the companies market presence in the Europe region. 

Competitive Landscape

The meal kit industry comprises of various market players such as Blue Apron LLC, Freshly Inc., HelloFresh, Sun Basket, Gobble, Marley Spoon Inc., Purple Carrot, Relish Labs LLC (Home Chef), Fresh n' Lean and The Kraft Heinz Company among others. These manufacturers are actively indulging in product launches and announcements to enhance their productivity and increase their growth as well as geographical reach.

For instance, in April 2023, Blue Apron and DashMart by DoorDash have expanded their partnership to bring Blue Apron's Heat & Eat meals to 11 new markets, including New York City. This move underscores the companies' commitment to broadening their reach and making their products more accessible, building on the success of their initial pilot program in Philadelphia.

Moreover, in December 2022, The Kraft Heinz Company introduced a new product line called SOSU from Amoy, consisting of meal kits and cooking ingredients. This product range aims to combine the flavors of Pan-Asian regional cuisine with the convenience of quick and easy meals that can be prepared in just 15 minutes. It is targeted towards consumers that are interested in cooking but have limited time to do so.

Furthermore, in November 2022, HelloFresh and Warner Bros. Discovery Global Consumer Products have launched a limited-edition meal kit named the Elf Spaghetti Meal Kit. The meal kit is inspired by the movie "Elf" and includes all the ingredients needed to make a spaghetti dinner, and they are available for purchase on the HelloFresh website for a limited time.

KEY BENEFITS

• The report provides a quantitative analysis and the estimations for the meal kit market from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future meal kit market trends, to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the meal kit market is provided in the report. 

• Competitive analysis of the market players, along with their market share is provided in the report.

• SWOT analysis and a Porter's Five Forces model is elaborated on in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders' roles.

MEAL KIT MARKET KEY SEGMENTS

By Type

• Full Kit

• Starter Kit

• Quick Kit

By Offering

• Heat & Eat

• Cook & Eat

By Service

• Single

• Multiple

By Platform

• Online

• Offline 

By Meal Type

• Vegan

• Vegetarian

• Non-Vegetarian

By Region

• North America

  • The U.S

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East 

  • Africa

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2022	USD 15.78 Billion
Revenue Forecast in 2030	USD 52.22 Billion
Growth Rate	CAGR of 18.7% from 2023 to 2030
Analysis Period	2022–2030
Base Year Considered	2022
Forecast Period	2023–2030
Market Size Estimation	Billion (USD)
Growth Factors	Rising number of working populations. Growing health awareness and the need for convenient and healthy meal options.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

KEY PLAYERS

• Blue Apron, LLC

• Freshly Inc.

• HelloFresh

• Sun Basket

• Relish Labs LLC (Home Chef)

• Gobble

• Marley Spoon Inc.

• Purple Carrot

• Fresh n' Lean

• The Kraft Heinz Company