Meal Kit Market Share, Size, Growth | Forecast 2023-28

IMARC Group, a leading market research company, has recently releases report titled “Meal Kit Market Report by Meal Type, Offering Type, Distribution Channel, and Region 2023-2028” The study provides a detailed analysis of the industry, including the global meal kit market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the meal kit market?

The global meal kit market size reached US$ 12.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.4 Billion by 2028, exhibiting a growth rate (CAGR) of 14.3% during 2023-2028.

What is a meal kit?

A meal kit is a convenient and innovative solution for individuals seeking to prepare homemade meals without the hassle of grocery shopping and recipe planning. It contains pre-portioned, fresh ingredients and step-by-step instructions, allowing customers to cook restaurant-quality dishes in the comfort of their homes by providing all the necessary components in one package. It caters to numerous ranges of dietary preferences and offers diverse cuisines, making it easy for customers to explore new flavors and cooking techniques. Additionally, it is convenient, saves time, reduces food waste, and offers the opportunity to learn culinary skills.

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What are the growth prospects and trends in the meal kit industry?

The meal kit market is primarily driven by the changing consumer preferences. In addition, the growing number of individuals following specialized diets, such as vegetarian, vegan, gluten-free, or keto, resulted in meal kit companies offering tailored options to cater to these needs, thus influencing market growth. Moreover, the widespread adoption of meal kits for culinary exploration represents another major growth-inducing factor. Besides this, these kits include recipes inspired by global cuisines, introducing consumers to new flavors and ingredients they might not otherwise encounter, thus augmenting the market growth. This culinary journey appeals to food enthusiasts who appreciate the convenience of a kit while also wanting to expand their culinary horizons from exotic spices to unique cooking techniques and provide a gateway to culinary experiences that transcend traditional home cooking. Along with this, the increasing demand for meal kits among working professionals due to their hectic schedules, time constraints, and convenience, with the prospect of having pre-portioned ingredients and chef-curated recipes delivered directly to the doorstep, is propelling the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Meal Type:

• Vegetarian
• Non-vegetarian

Breakup by Offering Type:

• Heat and Eat
• Cook and Eat

Breakup by Distribution Channel:

• Convenience Stores
• Online
• Hypermarket/Supermarket
• Others

Breakup by Region:

• North America (U.S. Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Albertsons Companies, Inc.
• Blue Apron LLC
• Fresh n' Lean
• Gobble Inc (Intelligent Foods)
• Gousto
• HelloFresh
• Hungryroot
• MarleySpoon Pty Ltd
• My Food Bag Ltd
• Oisix ra daichi Inc.
• SimplyCook Ltd.

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