Meal Kit Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

The Meal Kit Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Meal Kit Global Market Report 2024, The meal kit market size has grown rapidly in recent years. It will grow from $15.64 billion in 2023 to $18.04 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to cultural diversity and culinary exploration, rise of convenience culture, changing lifestyles and work patterns, consumer preference for healthy and fresh meals, market entry by food industry players.

The meal kit market size is expected to see rapid growth in the next few years. It will grow to $34.6 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to data-driven consumer insights, adoption of plant-based and vegan meal kits, convenience and time-saving solutions, expansion of culinary offerings and international cuisine, sustainability and eco-friendly packaging. Major trends in the forecast period include DIY and cooking experience, regional and cultural cuisines, flexible subscription models, tech integration in meal kit services, celebrity and chef collaborations.

The rise in urbanization and busy lifestyles is expected to propel the growth of the meal kit market going forward. Urbanization is the process through which cities grow, and higher and higher percentages of the population come to live in urban areas. With the increasing rate of urbanization among consumers, together with rising per capita income and shifting lifestyles, there are outstanding opportunities for chilled meal kits because of the increased demand for easy pre-meals due to busy lifestyles and the attraction of chilled meal kits because of their affordability and health benefits. For instance, in 2022, according to the World Health Organization, a Switzerland-based intergovernmental organization, over 55% of the world’s population lived in urban areas, a proportion that is expected to increase to 68% by 2050. Therefore, the rise in urbanization and busy lifestyles is driving the growth of the meal kit.

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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: Hypermarket/Supermarket, Convenience Store, Specialty Food Stores, Small Grocery Stores, Online Stores, Other Distribution Channels

Major companies operating in the meal kit market are developing innovative products such as plant rich meal kits to enhance its customer experience. Plant-rich meal kits are a type of delivery service that provides pre-portioned ingredients and recipes for meals that are primarily based on plant-derived foods. For instance, in 2023, Ready Pac Produce, Inc., a US -based that focuses on fresh vegetables, salads, and fresh meal launched Bistro Meal kits designed to meet the growing demand for vegetable-based, plant-rich food options that consumers can easily purchase and prepare at home. The meal kits are plant-rich and include fresh vegetables, whole grains, and delicious sauces

The meal kit market report table of contents includes:

1. Executive Summary
2. Meal Kit Market Characteristics
3. Meal Kit Market Trends And Strategies
4. Meal Kit Market – Macro Economic Scenario
5. Global Meal Kit Market Size and Growth
……………
32. Global Meal Kit Market Competitive Benchmarking
33. Global Meal Kit Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Meal Kit Market
35. Meal Kit Market Future Outlook and Potential Analysis
36. Appendix

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