NEW YORK, Feb. 3, 2022 /PRNewswire/ -- The meal kit market is estimated to grow by USD 11.13 billion from 2020 to 2025, and the market's growth is anticipated to accelerate at a CAGR of 11.25%.
Our research report on the "Meal Kit market - Forecast and Analysis Report" covers complete analysis including vendor strategies, current market scenario and latest trends and drivers.
Key vendors insights
Meal kit market is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market. The meal kit market is dominated by a few well-established players, such as Albertsons Companies Inc., Blue Apron Holdings Inc., HelloFresh SE, and The Kroger Co. Moreover, the market vendors are consistently concentrated on adopting and deploying growth strategies such as established vendors have started acquiring small and regional players to increase their global reach.
Some of the key market vendors are:
- Albertsons Companies Inc.
- Blue Apron Holdings Inc.
- HelloFresh SE
- Koninklijke Ahold Delhaize NV
- Mindful Chef Ltd.
- Oisix ra daichi Inc.
- SunBasket Inc.
- The Kroger Co.
- Tyson Foods Inc.
- William Jackson Food Group
Product News and Vendor insights
- HelloFresh SE - In July 2021, the company entered into an agreement to acquire Australian ready-to-eat meal manufacturer, Youfoodz.
- The Kroger Co. - In August 2021, the company partnered with Kitchen United to provide customers with on-demand meal pickup and delivery from popular restaurants. Also, in the same month, the company teamed up with Lyft to provide Americans access to rides for COVID-19 vaccine appointments.
For more detailed highlights on products offerings and the growth strategies adopted by the vendors, Download free sample report
Parent Market Outlook
The meal kit market will be driven by factors such as the availability of diverse choices and cost-effective solutions. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the meal kit market during the forecast period.
Meal Kit market trend
- Convenient options by consumers
The consumers looking for more convenient options with the emergence of a pace in lifestyle is one of the trending factors driving the global meal kit market share growth. Consumers are encouraged to venture out of their comfort zones for ingredients and techniques for preparation due to meal kits. Moreover, vendors ensure that the meal kit that is provided to the consumers are easy recipes and also provide them with subscription options for consumers to sign in. Thus, convenient options adopted by the customers due to faster lifestyle is estimated to fuel the meal kit market growth during the forecast period.
Geography
- Europe
- North America
- APAC
- South America
- MEA
North America holds the leading position with 54% of the global meal kit market share growth. The US is the key market for meal kit in North America. The rising number of working population which are opting for convenient and easy-to-cook meal options is expected to drive the meal kit market share during the forecast period.
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Meal Kit Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 11.25% |
Market growth 2021-2025 | $ 11.13 billion |
Market structure | Fragmented |
YoY growth (%) | -18.67 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | North America at 54% |
Key consumer countries | US, UK, Germany, China, and Japan |
Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
Companies profiled | Albertsons Companies Inc., Blue Apron Holdings Inc., HelloFresh SE, Koninklijke Ahold Delhaize NV, Mindful Chef Ltd., Oisix ra daichi Inc., SunBasket Inc., The Kroger Co., Tyson Foods Inc., and William Jackson Food Group |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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