Meal Kit Market - Forecast(2021 - 2026)

Report Code: FBR 44287 Report Format: PDF + Excel (Delivery in 48 Hrs)

Meal Kit (Oven Ready) Market Overview

Meal Kit (Oven Ready) Market size is estimated to be $7.2 billion in 2019, growing at a CAGR of 12.3% during the forecast period 2020-2025. Oven ready meal kit contains precooked ingredients which require instruction based oven heating for few minutes and then it is ready to eat. Rising number of working millennials and their needs and preferences for ready to eat food serves as a significant factor driving its market growth. Besides, this with the increase in e-commerce platform and era of IoT (Internet of thing) for online ordering has contributed the market growth. Moreover, meal kit manufacturers who are selling through online platforms are fuelling up their business by providing meal kit subscriptions to their consumer base. In addition, the meal kit provider’s tries to provide complete Nutrition based precooked food at low prices which attracts the working urban consumer who have less time to invest in cooking thus opt for these products. In addition, to time saving the meal kits also result into minimal wastage of ingredients, therefore, providing new growth avenues to the market growth.

Report Coverage

The report: “Meal Kit (Oven Ready) Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Medical & Pharmaceutical Gases and Equipment Market.
By Product - Non Vegetarian and Vegetarian.
By Distribution Channel - Hypermarket/Supermarket, Convenience Store, Speciality Food Store, Small Grocery Store, Online Stores and Others.
By Geography - North America, Europe, Asia Pacific and Rest of the World.

Key Takeaways

  • Non Vegetarian dominated Meal Kit Market in 2019 owing to the rising number of people preferring non-vegetarian products.
  • By Distribution Channel the Meal Kit (Oven Ready) Market is dominated by online stores owing to the rise in internet penetration among consumer.
  • North America dominated the meal kit market owing to the rise in working urban class and their changing lifestyle preferences.
  • The rising number of tech savvy younger generation coupled with less time available for cooking has resulted into high demand for ready to cook food which in turn is fueling the market growth.

Meal Kit (Oven Ready) Market Segment Analysis - By Products 

By Product, the Meal Kit (Oven Ready) Market is segmented into Non-Vegetarian and Vegetarian. Globally meal kit market is dominated by non- vegetarian which are prepared using different ingredients- chicken, fish, beef, goat, sheep, and eggs and so on. Further, non-vegetarian meal kit is expected to witness fastest CAGR of 12.9% during the forecast time period 2020-2025. On contrary, according to a recent report by The Economic Times, a quarter of Americans between the age of 25-34years consider themselves as vegan, which has popularized the vegan kit meal trend. 

Meal Kit (Oven Ready) Market Segment Analysis - By Distribution Channel

By Distribution Channel, the Meal Kit (Oven Ready) Market is dominated by online stores and is also anticipated to register fastest growth rate of 12.6% during the forecast period 2020-2025. This is majorly attributed to the rise in internet penetration amongst consumer as they are becoming more tech savvy and prefer to purchase online which in turn is fueling the segment growth. Moreover, the online platforms provide subscription based delivery services where consumer on weekly basis can pre order their choice of meal kit. In addition, the preference of consumers to shop offline is still in trend as it provides the consumer to buy product according to their experience with offline stores. 

Meal Kit (Oven Ready) Market Segment Analysis - Geography

North America dominated the Meal Kit (Oven Ready) Market with the revenue market share of 42% during the forecast period 2019-2025. Rising working class millennial generation preferring ready to cook food at their doorsteps in the region is supporting the regional market growth. Moreover, the US Department of Agriculture (USDA) stated that Americans born between 1981-1996 spends less time in food preparation and 30% or more prefer consuming outside the home food which has helped the meal kit market to grow in America. In addition to this Asia- Pacific is also seeing a potential growth in this industry owing to the untapped opportunities in the region.

Meal Kit (Oven Ready) Market Drivers

Growing working population

The rise in working urban class of tech savvy younger generation coupled with less time available for cooking has resulted into high demand for ready to cook food. Rising health consciousness among consumers and the demand of nutrients at a lower cost is contributing to the market growth. Moreover, the manufacturers are coming up with different kinds of nutrient based diets like- protein rich, gluten free, vegan based and so on. The market has also tried to tap the different consumer choice by providing instant cooking recipes by catering different taste and preferences.

Rising preference for Online Delivery

With the increase in internet penetration people have started buying online which is a vital factor driving its market growth. Moreover, online delivery provides services on subscription basis where consumer can choose and place order online.

Meal Kit (Oven Ready) Market Challenges

Rising preference for freshly prepared food

Online delivery of meal kits demands for fresh ingredients to the consumer which incurs high shipping cost to the companies, thus, hampering its market growth during the forecast period 2020-20225. Moreover, the companies struggle to retain their existing customers as more regional players are entering in the market restraining industry growth.

Meal Kit (Oven Ready) Market Industry Outlook 

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Meal Kit Market. Meal Kit Market top 10 companies are Hello Fresh, Blue Apron, Home Chef, Marley Spoon, Sun Basket, Able and Cole, Riverford, Gousto, Quitoque and Kochhous .

Developments:

  • October 2018: Blue Apron, a US based meal kit service provider started selling its meal kit products through Jet.com which is an American e-commerce selling platform.
  • March 2018: Hello Fresh SE, an international publicly traded company acquired Green Chef, the USDA certified organic Meal Kit Company. 
  • May 2018: Kroger Co., the largest US supermarket chain acquired Chicago Based meal kit company Home Chef for $200million.

1. Meal Kit (Oven Ready) Market Overview
    1.1 Definitions and Scope
2. Meal Kit (Oven Ready) Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Product
    2.3 Key trends by Distribution Channel
    2.4 Key trends by Geography
3. Meal Kit (Oven Ready) Market –Comparative Analysis
    3.1 Product Benchmarking - Key companies
    3.2 Financials Analysis - Key Companies
    3.3 Market Share Analysis- Key Companies
    3.4 Patent Analysis 
    3.5 Pricing Analysis
4. Meal Kit (Oven Ready) Market - Startup companies Scenario Premium Premium 
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Meal Kit (Oven Ready) Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Meal Kit (Oven Ready) Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes 
7. Meal Kit (Oven Ready) Market -Strategic analysis
    7.1 Value chain analysis 
    7.2 Opportunities analysis
    7.3 Market life cycle
8. Meal Kit (Oven Ready) Market – By Product (Market Size –$Million/$Billion)
    8.1 Non Vegetarian
        8.1.1 Chicken
        8.1.2 Beef
        8.1.3 Goat/Sheep
        8.1.4 Fish
        8.1.5 Others
    8.2 Vegetarian
9. Meal Kit (Oven Ready) Market – By Distribution Channel (Market Size –$Million/$Billion)
    9.1 Hypermarket/Supermarket
    9.2 Convenience Store
    9.3 Speciality Food Store
    9.4 Small Grocery store
    9.5 Online stores
    9.6 Others
10. Meal Kit (Oven Ready) Market - By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 U.K.
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Spain
        10.2.6 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 South Korea
        10.3.4 India
        10.3.5 Australia & New Zealand
        10.3.6 Rest of APAC
    10.4 Rest of the World
        10.4.1 Middle East
        10.4.2 Africa
        10.4.3 South America
11. Meal Kit (Oven Ready) Market - Entropy
12. Meal Kit (Oven Ready) Market – Industry/Segment Competition Landscape Premium 
    12.1 Market Share Analysis
        12.1.1 Global Market Share – Key Companies
        12.1.2 Market Share by Region – Key companies
        12.1.3 Market Share by Country - Key companies
        12.1.4 Best Practices for Companies
13. Meal Kit (Oven Ready) Market – Key Company List by Country Premium Premium
14. Meal Kit (Oven Ready) Market Company Analysis
    14.1 Company Revenue, Products, M&A, Developments
    14.2 Hello Fresh 
    14.3 Blue Apron
    14.4 Home Chef
    14.5 Riverford
    14.6 Marley Spoon
    14.7 Sun Basket
    14.8 Able and Cole
    14.9 Gousto
    14.10 Quitoque
    14.11 Kochhous
*Financials for private companies would be provided on a best efforts basis”.

LIST OF TABLES

1.Global MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
1.1 FULL KITS Market 2019-2024 ($M) - Global Industry Research
1.2 STARTER KITS Market 2019-2024 ($M) - Global Industry Research
1.3 QUICK KITS Market 2019-2024 ($M) - Global Industry Research
2.Global MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
2.1 ONLINE Market 2019-2024 ($M) - Global Industry Research
2.2 IN STORE Market 2019-2024 ($M) - Global Industry Research
3.Global MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
3.1 VEGETARIAN KIT Market 2019-2024 ($M) - Global Industry Research
3.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Global Industry Research
4.Global MEAL KIT MARKET BY TYPE Market 2019-2024 (Volume/Units)
4.1 FULL KITS Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 STARTER KITS Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 QUICK KITS Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 (Volume/Units)
5.1 ONLINE Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 IN STORE Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global MEAL KIT MARKET BY PRODUCT Market 2019-2024 (Volume/Units)
6.1 VEGETARIAN KIT Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 NON-VEGETARIAN KIT Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
7.1 FULL KITS Market 2019-2024 ($M) - Regional Industry Research
7.2 STARTER KITS Market 2019-2024 ($M) - Regional Industry Research
7.3 QUICK KITS Market 2019-2024 ($M) - Regional Industry Research
8.North America MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
8.1 ONLINE Market 2019-2024 ($M) - Regional Industry Research
8.2 IN STORE Market 2019-2024 ($M) - Regional Industry Research
9.North America MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
9.1 VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
9.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
10.South America MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
10.1 FULL KITS Market 2019-2024 ($M) - Regional Industry Research
10.2 STARTER KITS Market 2019-2024 ($M) - Regional Industry Research
10.3 QUICK KITS Market 2019-2024 ($M) - Regional Industry Research
11.South America MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
11.1 ONLINE Market 2019-2024 ($M) - Regional Industry Research
11.2 IN STORE Market 2019-2024 ($M) - Regional Industry Research
12.South America MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
12.1 VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
12.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
13.Europe MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
13.1 FULL KITS Market 2019-2024 ($M) - Regional Industry Research
13.2 STARTER KITS Market 2019-2024 ($M) - Regional Industry Research
13.3 QUICK KITS Market 2019-2024 ($M) - Regional Industry Research
14.Europe MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
14.1 ONLINE Market 2019-2024 ($M) - Regional Industry Research
14.2 IN STORE Market 2019-2024 ($M) - Regional Industry Research
15.Europe MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
15.1 VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
15.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
16.APAC MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
16.1 FULL KITS Market 2019-2024 ($M) - Regional Industry Research
16.2 STARTER KITS Market 2019-2024 ($M) - Regional Industry Research
16.3 QUICK KITS Market 2019-2024 ($M) - Regional Industry Research
17.APAC MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
17.1 ONLINE Market 2019-2024 ($M) - Regional Industry Research
17.2 IN STORE Market 2019-2024 ($M) - Regional Industry Research
18.APAC MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
18.1 VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
18.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
19.MENA MEAL KIT MARKET BY TYPE Market 2019-2024 ($M)
19.1 FULL KITS Market 2019-2024 ($M) - Regional Industry Research
19.2 STARTER KITS Market 2019-2024 ($M) - Regional Industry Research
19.3 QUICK KITS Market 2019-2024 ($M) - Regional Industry Research
20.MENA MEAL KIT MARKET BY DISTRIBUTION CHANNEL Market 2019-2024 ($M)
20.1 ONLINE Market 2019-2024 ($M) - Regional Industry Research
20.2 IN STORE Market 2019-2024 ($M) - Regional Industry Research
21.MENA MEAL KIT MARKET BY PRODUCT Market 2019-2024 ($M)
21.1 VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research
21.2 NON-VEGETARIAN KIT Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Meal Kit Market Revenue, 2019-2024 ($M)
2.Canada Meal Kit Market Revenue, 2019-2024 ($M)
3.Mexico Meal Kit Market Revenue, 2019-2024 ($M)
4.Brazil Meal Kit Market Revenue, 2019-2024 ($M)
5.Argentina Meal Kit Market Revenue, 2019-2024 ($M)
6.Peru Meal Kit Market Revenue, 2019-2024 ($M)
7.Colombia Meal Kit Market Revenue, 2019-2024 ($M)
8.Chile Meal Kit Market Revenue, 2019-2024 ($M)
9.Rest of South America Meal Kit Market Revenue, 2019-2024 ($M)
10.UK Meal Kit Market Revenue, 2019-2024 ($M)
11.Germany Meal Kit Market Revenue, 2019-2024 ($M)
12.France Meal Kit Market Revenue, 2019-2024 ($M)
13.Italy Meal Kit Market Revenue, 2019-2024 ($M)
14.Spain Meal Kit Market Revenue, 2019-2024 ($M)
15.Rest of Europe Meal Kit Market Revenue, 2019-2024 ($M)
16.China Meal Kit Market Revenue, 2019-2024 ($M)
17.India Meal Kit Market Revenue, 2019-2024 ($M)
18.Japan Meal Kit Market Revenue, 2019-2024 ($M)
19.South Korea Meal Kit Market Revenue, 2019-2024 ($M)
20.South Africa Meal Kit Market Revenue, 2019-2024 ($M)
21.North America Meal Kit By Application
22.South America Meal Kit By Application
23.Europe Meal Kit By Application
24.APAC Meal Kit By Application
25.MENA Meal Kit By Application
26.BLUE APRON LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.HELLOFRESH, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.MARLEY SPOON INC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.THE KROGER CO., Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.GOUSTO, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.RELISH LABS LLC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.PLATED, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.GLOBAL BELLY, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.PURPLE CARROT, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.PEPPER LEAF PTY LTD, Sales /Revenue, 2015-2018 ($Mn/$Bn)