Online Meal Kit Delivery Market Analysis and Latest Trends
Online meal kit delivery is a service that delivers pre-portioned ingredients and step-by-step recipes directly to customers' doors, enabling them to cook meals at home without the hassle of grocery shopping. The concept gained popularity in recent years due to its convenience and time-saving benefits for busy individuals who still want to enjoy home-cooked meals.
The global online meal kit delivery market is expected to grow at a CAGR of 5.50% during the forecast period. This growth can be attributed to several key factors. Firstly, the increasing trend of consumers seeking healthier meal options and the rising awareness of the importance of balanced diets are driving the demand for online meal kit delivery services. Additionally, the convenience factor offered by these services, such as eliminating the need to plan meals or shop for ingredients, is appealing to time-pressed consumers.
Moreover, the COVID-19 pandemic acted as a catalyst for the growth of the online meal kit delivery market. With lockdown restrictions, consumers turned to home-cooked meals, leading to a surge in demand for meal kit delivery services. The pandemic also influenced consumers' adoption of healthier lifestyles and the need for contactless options, further boosting the market.
In terms of trends, customization and personalization have become crucial factors for success in the online meal kit delivery market. Companies are offering options for dietary preferences, such as vegetarian, vegan, or gluten-free, to cater to a diverse range of consumers. Additionally, sustainable packaging and sourcing practices are gaining importance, as consumers increasingly prioritize eco-friendly options.
Overall, the online meal kit delivery market is poised for steady growth due to its convenience, health-conscious appeal, and the influence of the COVID-19 pandemic on consumer behavior.
Get a Sample PDF of the Report: https://www.reportprime.com/enquiry/request-sample/16241
Online Meal Kit Delivery Major Market Players
The online meal kit delivery market has become increasingly competitive in recent years, with several key players dominating the industry. Blue Apron, Hello Fresh, Plated, Sun Basket, Chef'd, Green Chef, Purple Carrot, Home Chef, Abel & Cole, Riverford, Gousto, Quitoque, Kochhaus, Marley Spoon, Middagsfrid, Allerhandebox, Chefmarket, Kochzauber, Fresh Fitness Food, and Mindful Chef are some of the major players in this market.
Blue Apron is one of the largest players in the online meal kit delivery market. The company went public in 2017 and has seen significant growth since its inception in 2012. Blue Apron reported sales revenue of $881 million in 2018. Despite facing stiff competition, the company has managed to maintain a strong market position due to its focus on high-quality ingredients and unique recipes.
Hello Fresh is another key player in the market, with a strong presence in both Europe and North America. The company reported sales revenue of €1.28 billion in 2018, representing a growth rate of 41% compared to the previous year. Hello Fresh has been successful in attracting customers with its convenient and innovative meal kits, tailored to different dietary preferences.
Plated, which was acquired by Albertsons Companies in 2017, has also seen considerable growth in the market. The company offers a wide range of customizable meal options, catering to different tastes and dietary restrictions. Plated reported sales revenue of $215 million in 2018, showcasing a steady growth trajectory.
Sun Basket, known for its organic and sustainable meal kits, has emerged as a significant player in the market. The company reported sales revenue of $275 million in 2018, marking a substantial increase compared to the previous years. With a focus on healthy and environmentally-friendly meals, Sun Basket has gained a loyal customer base.
These companies, along with others in the online meal kit delivery market, are expected to witness continued growth in the coming years. The market size for online meal kit delivery is projected to reach $11.6 billion by 2022, driven by the increasing demand for convenient and time-saving meal solutions. As more consumers seek healthy and diverse meal options, companies in this space will need to innovate and differentiate themselves to maintain a competitive edge.
What Are The Key Opportunities For Online Meal Kit Delivery Manufacturers?
The online meal kit delivery market has witnessed significant growth in recent years due to the increasing demand for convenient and time-saving meal solutions. The market is driven by factors such as busy lifestyles, rising disposable incomes, and the popularity of cooking shows. Furthermore, the COVID-19 pandemic has further accelerated the market's growth as more consumers opt for home-cooked meals. The market is expected to continue growing in the future, with enhanced customization options, healthier meal choices, and sustainable packaging solutions being key drivers. Additionally, partnerships with grocery retailers and the expansion into new geographical markets are expected to fuel the market's expansion.
Inquire or Share Your Questions If Any Before Purchasing This Report: https://www.reportprime.com/enquiry/pre-order/16241
Market Segmentation
The Online Meal Kit Delivery Market Analysis by types is segmented into: