Press Release Description

Demand for Meals Kits to Experience an Upwards Trend Due to the Rising Rate of Working Females

The Global Meal Kit Market size was valued at around USD 16.2 billion in 2023 and is estimated to grow at a CAGR of about 18.21% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The surge in cooking as a hobby among educated individuals is poised to propel growth in the meal kit industry. With time constraints, these individuals are turning to meal kits instead of restaurant-prepared meals, simplifying their vegetable shopping process. Moreover, the expanding female workforce is expected to drive market expansion as both partners in households face limited time for cooking and grocery shopping.

Meal kits streamline the cooking process, sparing consumers the need to plan and shop for groceries, thereby saving precious time during meal prep. They promote culinary exploration by providing straightforward recipes and cooking advice in pre-packaged boxes with precisely measured ingredients. Providers prioritize freshness and portion sizes, catering to both individuals and busy families seeking convenient, freshly prepared meals.

Furthermore, the surge in demand for plant-based foods, driven by a growing vegan population and increased awareness of animal welfare concerns, is evident. Additionally, specialized meal kit services are emerging to cater to various dietary needs and preferences. Consumers today prioritize nutritious diets, viewing meal kits as healthier alternatives to ready-to-eat meals due to their use of fresh ingredients without additives or preservatives, aligning with health-conscious choices.

Moreover, the heightened environmental consciousness among consumers has led meal kit companies to adopt sustainable practices. These practices involve using recycled or compostable packaging, sourcing ingredients sustainably, and minimizing food waste, contributing to market growth without compromising environmental concerns, further states the research report, “Global Meal Kit Market Analysis, 2024.”

Global Meal Kit Market

Global Meal Kit Market Segmentation Analysis

Heat & Eat Meals Kits to be More Demanding Across the Global Market

Based on the offering, the market is further bifurcated into, Heat & Eat and Cook & Eat. Of them, Heat & Eat meal kit is expected to maintain a notable share within the Meal Kit Market during the projected period. These services offer chef-prepared meals to consumers, allowing them to either choose their ingredients or select from available recipes on the website. These kits have gained global popularity due to their convenience & ease of use. For instance, Freshly Inc. provides customized meals along with a signature collection that includes dishes like Dijon Pork Chop and Traditional Beef Stew. Moreover, the typical refrigerated shelf life of these prepared meals ranges from 3 to 5 days, and they can be heated and served within a few minutes, making them among the most popular choices for meal kits worldwide.

North America to Overpower Other Regions

North America continues to dominate the Meal Kit Market and is anticipated to thrive in the upcoming years. The evolution of meal kits has significantly changed North American cooking dynamics by eliminating the challenges associated with meal planning, grocery shopping, and ingredient preparation. Competitors are aiming to offer diverse options catering to various preferences such as vegan, performance-oriented, gluten-free, and specific dietary needs, further instigating the industry's progress. Moreover, the swift expansion of the North America Meal Kit Market is fueled by its convenience, a particularly attractive feature for the increasing workforce in the region, notably women in the United States.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Blue Apron LLC., Daily Harvest, Fresh n' Lean, Global Belly, Gobble, Gousto, HelloFresh, Hungryroot, Marley Spoon AG, Nestlé Group, Oisix ra Daichi Inc., Pruvit Ventures, Inc., Snap Kitchen, LLC., The Kroger Co., Yumble, Sun Basket, Bistro MD LLC, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the Meal Kit Market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various countries?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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