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Meal Kit Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Meal Kit Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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The meal kit market has experienced significant growth in recent years. It is projected to increase from $15.64 billion in 2023 to $18.04 billion in 2024, with a compound annual growth rate (CAGR) of 15.4%. This historical growth can be linked to cultural diversity and culinary exploration, the rise of convenience culture, evolving lifestyles and work habits, consumer demand for healthy and fresh meals, and the entry of various food industry players into the market.
What Is the Projected Market Size of the Global Meal Kit Market and Its Growth Rate?
The meal kit market size is projected to experience significant growth in the coming years, reaching $34.6 billion by 2028, with a compound annual growth rate (CAGR) of 17.7%. This anticipated growth during the forecast period can be attributed to data-driven consumer insights, the increasing adoption of plant-based and vegan meal kits, convenience and time-saving solutions, a broader range of culinary offerings and international cuisines, and a focus on sustainability and eco-friendly packaging.
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What are the Key Drivers Fueling Growth in the Meal Kit Market?
The increasing number of working professionals is driving the growth of the meal kit market. A working professional typically refers to an individual employed in a field that demands specialized knowledge, training, and skills. For these busy professionals, meal kits serve as a convenient solution, allowing them to enjoy healthy and delicious meals despite their time constraints. With pre-portioned ingredients and straightforward recipes, they can prepare a gourmet meal in 30 minutes or less.
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Who Are the Key Players Driving Growth in the Meal Kit Market?
Key players in the market include Ahold Delhaize USA, HelloFresh SE, Daily Harvest Inc., Home Chef LLC, Blue Apron Holdings Inc., Marley Spoon AG, Fresh Direct LLC, Gousto Ltd, Hungryroot Inc., Sun Basket Inc., Green Chef Corporation, Fit Foods Club, Freshly Inc., Sakara Life Inc., Fresh Prep Inc., Trifecta Nutrition, Quitoque, Goodness Me! Natural Food Market, Purple Carrot Inc., Veestro LLC, Gobble Inc., Yumble Kids Inc., Snap Kitchen Holdings LLC, Foodstirs Inc., FUUD Canada Inc., PeachDish LLC, EveryPlate, Global Belly Inc., Just Add Cooking Inc., Relish Labs LLC, The Kroger Co
What Are The Emerging Trends Shaping The Growth Of The Meal Kit Market?
Key companies in the meal kit market are creating innovative products like plant-rich meal kits to improve customer experience. These meal kits are a delivery service that offers pre-portioned ingredients and recipes for meals focused mainly on plant-based foods.
What Are the Segments of the Global Meal Kit Market?
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
Geographic Overview: North America at the Helm of the Meal Kit Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Meal Kit Market Defined?
A meal kit is a service that provides and delivers customized food ingredients, pre-cooked meals, semi-prepared food products, and fresh ingredients, allowing customers to conveniently prepare their meals. Meal kits serve as an alternative to grocery shopping, minimizing the need for grocery store trips while being cost-effective in terms of nutrition, time, and expenses, and helping to reduce food waste. They offer convenience and the chance to prepare meals at home in a shorter amount of time.
The Meal Kit Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Meal Kit Market Report: Trends, Opportunities, Strategies, and More
The Meal Kit Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into meal kit market size, meal kit market drivers and trends, meal kit competitors' revenues, and meal kit market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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