Report Overview
The Global Meal Kit Subscription Market is expected to grow at a high CAGR of 5.5% during the forecasting period (2024-2031). The concept involves home delivery of pre-portioned ingredients with meal recipes to create specific meals. It was new a few years ago and was expected to be a significant disruptor in the food retail Industry.
Market Summary
| Metrics | Details |
| CAGR | 5.5% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Serving, Food Type and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Europe |
| Largest Region | North-America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Market Dynamics
- Avoiding a trip to the store is the key benefit of meal kit delivery services. Allowing people to bypass this time-consuming grocery store experience was expected to be a big enough driver to sustain the meal kit subscription business.
- The simplicity of ordering a meal online, availability of various recipes, and freshness of food allowed entry for multiple companies. Due to massive venture capital funding, companies have spent an enormous amount on marketing & customer discounts. These efforts have resulted in a large no of people buying meal kits online.
- Unfortunately, most consumers don’t sign up for the subscription after the first-week discount period ends. The reason for the low customer retention rate is cost. Many of the consumers want faster fulfillment & prep time. They also don’t want to deal with packaging & un-appetizing recipes.
- Acquiring life-long customers is a massive challenge for the meal-kit subscription Market.
Market Segmentation Analysis
- The global meal kit subscription market can be segmented by the size of a meal kit, type of diet, type of product.
- Based on meal size, the market can be classified into the two-person plan, three-person plan, four-person plan, and others. The average price of a meal kit was about USD 9.99 per serving for Blue Apron and USD 11.5 for hella fresh.
- Meal kit subscription offers various types of meals to suit the needs of the consumer. Based on diet type, meal kits can be segmented into Vegan, Paleo, Gluten-free, Mediterranean, meat, seafood (pescetarian), and others.
Market Geographic Share
- Based on Geography, the Global meal kit market can be segmented into North America, South America, Europe, Asia-Pacific, and the rest of the world. The meal kit subscription market is dominant in North America and Europe.
- The growth in western countries is mainly due to their hectic lifestyles and busy work schedules.
Market Companies and Competitive Landscape
- Blue Apron is the most significant player in meal-kit Subscription services in the US. Hellofresh is a Germany-based company that has gained tremendous momentum in the American Market.
- Recently Hellofresh acquired green chef. The combined market share of both these companies is higher than Blue Apron.
- For startups, the market has become very competitive as traditional retail giants like Amazon are starting their meal kit delivery option. When Amazon acquired Whole-foods, it caused a lot of uncertainty about the future of start-ups in the meal-kits subscription market.
- Key players are Hello Fresh, Blue Apron, Cargill, Sun Basket, Ahold USA, Chef’d, LLC, Green Chef Corporation, Marley Spoon GmbH, PeachDish Inc., Try The World LLC, and among others.
Key market segments covered
By Size of Meal-kit
• Two-person plan
• Three-person plan
• Four-person plan
• Four or more
By Food Type
• Organic
• Regular
• Regional cuisine
• Others
Market Report Scope
- The report covers the key factors impacting the market, Porter 5 Forces, Product Benchmarking, and company profiles. Meal Kit Subscription market is segmented By Size of Meal-kit (Two-person plan, three-person plan, four-person plan, four and more), By food Type (Organic, Regular, regional cuisine, and others). Based on geography the market is segmented into – North America, South America, Europe, Asia Pacific, and the Rest of the world.
