Meal Kit Market - Forecast(2021 - 2026)

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Meal Kit Market Overview

The global Meal Kit Market size is anticipated to reach $21.46 billion by 2026, growing at a CAGR of 11.6% during the forecast period 2021-2026. A Meal Kit is a subscription service where the company delivers pre-portioned or partially prepared food ingredients and recipes to the customer, who then has to prepare the food at home by themselves. This is different from meal delivery services as they deliver fully cooked food to the customer directly from a restaurant or cloud kitchen. Increasing preference for healthy and homemade meals among the younger population and increasing usage of super-absorbent polymer from sodium polyacrylate is driving the growth. However, increasing concerns regarding the quality of food provided by the services and non-convenience food act as a major challenge that can hamper demand generation.

Report Coverage

The report: “Meal Kit Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Meal Kit Market.
By Offering
: Heat & Eat, Cook & Eat
By Service Type: Single, Multiple
By Platform: Online, Offline
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa). 

Key Takeaways

  • Geographically, North America accounted for the highest Meal Kit market share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the rapid growth and development of the foodservice industry in the region.
  • An increase in the working women population in developed and developing countries is anticipated to drive the market. However, the low awareness levels of the service in emerging economies is a major challenge for the Meal Kit market.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Meal Kit Market report. 
Global Meal Kit Market Share, By Offering (2020)
 Meal Kit Market
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Meal Kit Market Segment Analysis-By Offering  

Based on Offering, the Meal Kit market is segmented into Heat & Eat and Cook & Eat. The Cook & Eat segment dominated the Meal Kit market in 2020 with 12.7% of the overall market share. The growth is attributed to the rise in popularity of home cooking amongst the youth. Meal Kits provide the opportunity to try out new recipes without the need for expensive restaurant visits.  Even though Cook & Eat meals take more time to prepare than Heat & Eat, they are still much faster than the traditional method of cooking. The Heat & Eat segment is projected to register the fastest growth during the forecast period owing to their high accessibility and convenience. They are being increasingly adopted by those who do not know cooking or by people who have a busy schedule.

Meal Kit Market Segment Analysis-By Service Type

Based on Service Type, the Meal Kit market is further segmented into Single and Multiple. The Single service kit segment is anticipated to be the largest during the forecast period 2021-2026 with 11.9% of the overall market share owing to their high convenience among youngsters who live away from their families for education or work. Furthermore, a large number of such youngsters may not be skilled in cooking. Single Meal Kit services provide a complete solution for this issue without the need to sacrifice food quality or health. The Multiple Meal Kit segment is anticipated to register the fastest growth during the forecast period owing to their increasing adoption by families with two working parents.

Meal Kit Market Segment Analysis-By Geography

The Meal Kit Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The North American region accounted for the largest market share of more than 32% owing to the high development and awareness of the foodservice industry. The increasing concern of the population towards their personal health is another factor causing the rapid growth of the market. As Meal Kits are a healthier option when compared to purchasing pre-cooked meals from restaurants or supermarkets, they become a more preferred option. The Asia Pacific region is projected to grow the fastest during the forecast period 2021-2026 owing to the significant rise in disposable income. Rapid urbanization and industrialization in the region have caused an increase in the number of nuclear families with two working parents. This has resulted in the rise in demand for Meal Kits as it is a convenient but healthy alternative for home food consumption.

Meal Kit Market Drivers

An Increase in Awareness of the Dangers of Fast Foods is anticipated to Drive Market Growth.

The cases of lifestyle illnesses such as diabetes, blood pressure, cardiovascular diseases, cancer, and so on are witnessing a rapid rise. A major factor in their growth can be attributed to the shift in dietary habits. As time required to cook healthy food at home is high, the demand for high-calorie fast food surged. It was found that in the U.S., around 14.4% of the total daily calories in children came from fast food products. However, owing to the increase in global awareness of the health risks posed by fast foods, the demand for a healthy alternative such as Meal Kits has risen.

Development of Innovative Packaging Technology is Projected to Boost Demand.

The use of Super absorbent polymer in Meal Kit packaging has led to decrease instances of food and liquid leakage. This has simplified the delivery process and reduced the chances of customer dissatisfaction. These Polymers are made of sodium polyacrylate, which is known for its ability to absorb 100 to 1000 times its mass in water.

Meal Kit Market Challenges

Higher Cost of Meal Kits is Anticipated to Hamper Market Growth.

The higher cost of meal kits acts as a major challenge, especially among the less affluent population. Many customers perceive meal kits to be highly expensive as it is cheaper to order the same ingredients online from a grocery store and have them delivered to their address. This drastically limits the penetration of their service. For instance, it is estimated that only 4% of the US population has ever used Meal Kit services.

The Risk of Low Food Quality Standards is projected to limit growth opportunities

Owing to the fact that the Meal Kit industry is highly dependent on all the supply chain network partners to ensure the quality of the delivered ingredients, there may arise instances when damaged or low-quality ingredients are delivered. This will lead to a drop in customer satisfaction, resulting in the cancellation of future services. The constant quality control monitoring of food suppliers, packaging, delivery agents and so on may not always be feasible.

Meal Kit Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Meal Kit Market. Top 10 companies in of the industry are-
  1. Blue Apron
  2. PeachDish
  3. Gobble Inc
  4. Chef’d LLC
  5. Ahold
  6. Gousto
  7. Green Chef Corporation
  8. The Purple Carrot
  9. Home Chef
  10. Sunbasket

Partnerships/Product Launches:

  • In October 2020, Blue Apron expanded its menu offerings to make it more convenient for home cooks to receive additional meals every week. The company is offering more variety, flexibility, and choice by giving customers the option to order multiple boxes per week, customize select components of recipes, as well as expanding the Two-Person Signature menu to allow home cooks to get up to four recipes per box.
  • In September 2020, Chef Sanjeev Kapoor announced the launch of KitFresh Meal Kits in Bengaluru on Amazon India under his newly founded venture, KSK Food. These Meal Kits consist of ingredients put together by Kapoor to help customers recreate some of his most iconic recipes.

Relevant Links:

Report Code: FBR 0400

Report Code: FBR 0240

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1. Meal Kit Market - Overview
    1.1 Definitions and Scope
2. Meal Kit Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Offering 
    2.3 Key trends by Service Type
    2.4 Key trends by Geography
3. Meal Kit Market – Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split by Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis – Average Selling Price
4. Meal Kit Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Meal Kit 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 KitMarket - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    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 Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Meal Kit Market – By Offering (Market Size –$Million/$Billion)
    8.1 Heat & Eat
    8.2 Cook & Eat
9. Meal Kit Market – By Service Type (Market Size –$Million/$Billion)
    9.1 Single
    9.2 Multiple
10. Meal Kit Market – By Platform (Market Size –$Million/$Billion)
    10.1 Online
    10.2 Offline
11. Meal Kit Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Meal Kit Market - Entropy
13. Meal Kit Market – Industry/Segment Competition Landscape Premium
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Meal Kit Market – Key Company List by Country Premium Premium
15. Meal Kit Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*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)