Meal Kit Market

Market Overview:

The global meal kit market size reached US$ 14.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.9 Billion by 2032, exhibiting a growth rate (CAGR) of 12.87% during 2024-2032. The changing consumer lifestyles, escalating health consciousness among consumer, increasing desire for culinary experimentation among the masses, and increasing internet penetration, coupled with rapid proliferation of smart phones are some of the major factors propelling the market.

A meal kit is a subscription service that delivers pre-portioned food ingredients and recipes to customers, facilitating home cooking. It is comprised of pre-measured ingredients, such as fresh vegetables, meats, spices, grains, and dairy products, alongside a detailed recipe guide. Meal kit finds extensive application in quick weekday dinners, healthy lunch preparation, gourmet meal creation, hosting dinner parties, teaching kids to cook, culinary skill development, weight loss programs, special diet adherence, and adventure cooking. It offers several advantages, such as convenience, low food waste, diversity in meals, fresh ingredients, portion control, and minimum grocery shopping.

The increasing preference for home-cooked and chef-cooked food is one of the key factors propelling the market growth. Meal kit delivery services are widely adopted as they provide pre-portioned ingredients and recipe cards delivered to the doorstep, eliminating the need to plan meals and grocery shopping, which saves time and energy. Additionally, growing service adoption owing to the fast-paced consumer lifestyle is acting as another growth-inducing factor. Furthermore, the increasing internet penetration, coupled with the rapid proliferation of smartphones, which allow users to conveniently order meal kits online from the comfort of their homes, is favoring the market growth. Apart from this, the introduction of specialized meal kits catering to specific dietary preferences, such as vegan, paleo, or keto, is contributing to the market growth. Moreover, the growing demand for personalized meal kits, which offer tailored meal plans based on individual needs, tastes, and cooking skills, is positively influencing the market growth.

Meal Kit Market Trends/Drivers:

The changing consumer lifestyles

The rising demand for meal kits due to changing consumer lifestyles and hectic schedules is boosting the market growth. As compared to traditional home-cooked meals, meal kits simplify the process of planning, prepping, and cooking food. They provide pre-measured raw ingredients and easy-to-follow recipes that are delivered directly to consumer doorsteps, which aids in reducing preparation time and effort. Moreover, the convenience of meal kits eliminates the need to buy groceries, thus fitting seamlessly into the fast-paced, time-pressured lifestyles of many modern consumers. Additionally, they offer the chance to cook a variety of meals, negating the monotony of cooking the same dishes repeatedly. Therefore, the rising demand for convenience and efficiency in meal preparation, coupled with the desire for variety, has been a substantial driver for the meal kit market.

The escalating health consciousness among consumers

The shift in consumer awareness towards healthier eating habits is facilitating the demand for meals that are not just convenient but also nutritious. Meal kits often cater to this need as they frequently emphasize fresh, high-quality ingredients and balanced meals. They also offer portion control, helping to prevent overeating, which is a common concern in weight management. Apart from this, several meal kit services provide specialized options to address the growing demand for specific healthy diets, such as low-carb, low-sodium, paleo, keto, vegan, or high-protein meals. Additionally, the transparency in ingredients also allows consumers to know what they are consuming, providing an edge over processed, ready-to-eat (RTE) meals where nutritional content can be ambiguous.

The increasing desire for culinary experimentation among the masses

Consumers are increasingly experimenting with new recipes, which can be daunting as it involves sourcing various unusual ingredients and attempting complex cooking techniques. In line with this, meal kits offer consumers the opportunity to prepare various dishes from different cuisines at home, providing all necessary ingredients and detailed instructions, which makes the process of culinary exploration less intimidating and more accessible. Furthermore, they also aid experienced cooks in exploring their skills and creating new recipes that are different from their regular cooking. Moreover, the escalating consumer awareness regarding the benefits of meal kits in fulfilling the need for new and experimental recipes is positively influencing the market growth. Apart from this, their increasing contribution to democratizing gourmet cooking, making it less exclusive, is further bolstering the market growth.

Meal Kit Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global meal kit market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on meal type, offering type, and distribution channel.

Breakup by Meal Type:

• Vegetarian
• Non-vegetarian
   

Non-Vegetarian holds the largest market share.

The report has provided a detailed breakup and analysis of the meal kit market based on the meal type. This includes vegetarian and non-vegetarian. According to the report, non-vegetarian represented the largest market segment.

Non-vegetarian meal kits are dominating the market due to the widespread consumption of non-vegetarian food across the globe. Furthermore, they offer a wider variety of options, incorporating different types of meat, such as chicken, beef, fish, and others. This diversity leads to a greater number of innovative recipes and flavors, thus attracting more consumers. Additionally, many consumers find preparing non-vegetarian dishes at home complex due to factors such as difficulty in sourcing quality meats or uncertainty in handling and cooking various types of meat. Non-vegetarian meal kits simplify this process, providing pre-portioned ingredients and detailed instructions, thus making it more accessible. Besides this, they allow consumers to explore a variety of world cuisines that traditionally include meat, thus catering to the increasing desire for culinary experimentation.

Breakup by Offering Type:

• Heat and Eat
• Cook and Eat
   

Cook and Eat holds the largest market share.

The report has provided a detailed breakup and analysis of the meal kit market based on the offering type. This includes heat and eat and cook and eat. According to the report, cook and eat represented the largest market segment.

Cook and eat meal kit offering is dominating the market as it provides consumers with an engaging and immersive culinary experience. The act of preparing meals from scratch allows users to learn new skills, try out new recipes, and enjoy the satisfaction of creating a meal. Furthermore, it provides complete control over the freshness and quality of the food, which is a significant advantage over ready-to-eat (RTE) meals, where the cooking process has been completed beforehand. Apart from this, cool and eat meal kits allow greater customization as users can tweak recipes based on their personal preferences, dietary restrictions, or simply based on what they're in the mood for. Moreover, they are considered healthier than their RTE counterparts as they tend to contain less sodium, sugar, and artificial ingredients.

Breakup by Distribution Channel:

• Convenience Stores
• Online
• Hypermarket/Supermarket
• Others
   

Online holds the largest market share.

The report has provided a detailed breakup and analysis of the meal kit market based on the distribution channel. This includes convenience stores, online, hypermarket/supermarket, and others. According to the report, online represented the largest market segment.

Online distribution channels are dominating the market as they allow consumers to browse, select, and order meal kits from the comfort of their homes, making it highly convenient. Furthermore, several meal kit companies operate on a subscription model, which is easily managed online as it allows users to customize their orders, select delivery dates, and cancel their subscriptions with just a few clicks. Moreover, online distribution channels allow meal kit companies to reach a broader audience, not limited by geographical boundaries, which aids in widening the potential customer base. Additionally, they offer more scope for meal customization as consumers can easily specify their dietary preferences, allergies, or dislikes, ensuring that they receive meal kits tailored to their needs.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance in the market, accounting for the largest meal kit market share.

The report has also provided a comprehensive analysis of all the major regional markets, which includes North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represented the largest market segment.

North America is dominating the meal kit market owing to the rising disposable income, which allows discretionary spending on services, such as meal kits that provide convenience and variety. Furthermore, the fast-paced, busy lifestyle of many North Americans creates a high demand for convenient meal solutions that save time on meal planning, grocery shopping, and preparation. Additionally, the region boasts high internet penetration rates and widespread adoption of e-commerce, both of which support the online distribution model used by many meal kit services. Moreover, the rising trend towards healthier eating in North America is facilitating the demand for meal kits as they are seen as a way to conveniently cook balanced meals at home. Besides this, the presence of many pioneering meal kit companies in the region, which led to early exposure and acceptance of the concept by consumers, is boosting the market growth.

Competitive Landscape:

The top meal kit companies are diversifying their product offerings to cater to various dietary preferences, such as vegetarian, vegan, gluten-free, low-carb, and kid-friendly meals. Furthermore, several key players are striving to make their operations more sustainable by incorporating initiatives, such as recyclable or compostable packaging, reducing food waste through precise portioning, and sourcing ingredients from local farmers to decrease carbon footprint. Additionally, some meal kit companies are entering into partnerships with popular chefs, food influencers, or even celebrities to create exclusive recipes. Moreover, they are leveraging technology to offer high levels of customization, including allowing customers to choose their meals, specify their dietary preferences, and select the number of servings and delivery frequency. Besides this, companies are utilizing customer data to gain insights into consumer behavior, preferences, and feedback, to improve their offerings, personalize their marketing efforts, and enhance customer service.

The report has provided a comprehensive analysis of the competitive landscape in the global meal kit market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Albertsons Companies, Inc.
• Blue Apron LLC
• Fresh n' Lean
• Gobble Inc (Intelligent Foods)
• Gousto
• HelloFresh
• Hungryroot
• MarleySpoon Pty Ltd
• My Food Bag Ltd
• Oisix ra daichi Inc.
• SimplyCook Ltd.

Meal Kit Market Report Scope:

Key Questions Answered in This Report:

• How has the global meal kit market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global meal kit market?
• What is the impact of each driver, restraint, and opportunity on the global meal kit market?
• What are the key regional markets?
• Which countries represent the most attractive meal kit market?
• What is the breakup of the market based on the meal type?
• Which is the most attractive meal type in the meal kit market?
• What is the breakup of the market based on the offering type?
• Which is the most attractive offering type in the meal kit market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the meal kit market?
• What is the competitive structure of the global meal kit market?
• Who are the key players/companies in the global meal kit market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the meal kit market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global meal kit market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the meal kit industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.