Introduction
A meal kit is a subscription-based service that sends the customer a box containing pre-portioned ingredient items for that kit’s recipe. All that remains to be done is combine the ingredients, cook and serve.
A meal kit seems to be a one-stop solution for virtually all players across the entire F&B ecosystem, including retailers, e-tailers, FMCG brand owners, and restaurants, to get themselves out of this pandemic logjam and maximize the opportunities in the current scenario.
It helps individuals to get rid of the hectic schedule to go to the market and search every single food ingredient for their kitchen.
The COVID-19 pandemic has offered a significant opportunity to the market as almost all the restaurants, eateries, and hotels were shut down across the North America.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 US
9.2 Canada
9.3 Mexico
10. Growth drivers
10.1 Increasing preference for homemade meals among millennials
10.2 The increasing disposable income among young consumers and lack of time
10.3 Reducing food wastage by going eco-friendly
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 BlueApron
15.2 HelloFresh
15.3 GreenChef
15.4 SunBasket
15.5 Freshly
15.6 EveryPlate
15.7 Fresh and Easy
15.8 Hungryroot
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The North America Meal Kit Market is expected to grow to $5 billion by 2025 and is forecasted to lead the global market, accounting for nearly one-fourth of the global market.
Growth momentum is expected to accelerate during the forecast period with 12.5% CAGR.
In North America, US is anticipated to remain dominant with the largest revenue share over the projected period.
Key Trends
Appealing and catering to individual lifestyle choices has become a growing trend within the meal kit industry.
Consumers' ever-increasing demand for convenience is expected to drive the demand for these meal kits.
In accordance with current health trends as well as concerns for the environment, many consumers are interested in consuming only organic foods, which are made easier with the help of a meal kit subscription.
Key Market Players
The most prominent players in the market are Blue Apron, LLC, HelloFresh, Sunbasket, Green Chef Corporation, EveryPlate, Freshly Inc., Gobble, Relish Labs LLC, Hungryroot, Takeout Kit and others.
Growth Drivers and Challenges
Increasing preference for homemade meals among millennials is a major factor contributing to the growth of the market.
The increasing disposable income among young consumers and lack of time to prepare complete food are helping to grow the meal kits market.
Reducing food wastage by going eco-friendly and increasing the urban population are driving the growth of the market.