Meal kit delivery services are meant to provide doorstep delivery of meals for a certain period. A new report on the global meal kit delivery services market, published by Market Research Future (MRFR), states that this market could witness growth between 2018 and 2023.
The most important market driving factor for the global meal kit delivery services market growth is the rising demand for meal kits among the customers with a busy lifestyle. Consumers who are busy and do not have time to cook food rely on this service. Other global meal kit delivery services market drivers include economic growth, increasing purchasing power of consumers, and demand for ready to eat food. However, high cancellation rate of meal subscriptions is the biggest hurdle in the path of global meal kit delivery services market growth. Meal kits are expensive and thus many times; customers stop their subscription when the kits (food offered in the kits) do not match the value for the money paid.
Big players in the global meal kit delivery services market include Blue Apron, LLC (USA), ButcherBox (USA), Gousto (UK), HelloFresh (Germany), Home Chef (USA), Marley Spoon Inc. (Germany), PeachDish (USA), Plated (USA), Purple Carrot (USA), and Sun Basket (USA).
The global meal kit delivery services market segmentation encompasses distribution channel, food type, and serving. MRFR’s take on the market surveys various facets of the market in-depth.
Based on the distribution channel, this market can be segmented into store-based distribution channel and non-store-based distribution channel. Non-store-based distribution channels include online e-commerce platforms.
By food type, the market has been segmented into ready-to-cook and ready-to-eat. In the context of serving, the market has been segmented into one, two, four, and others.
A geographical outlining of the global meal kit delivery services market covers North America, Europe, Asia Pacific, and Rest of the World (RoW).
The North American market is strong due to the presence of many key market players in the USA. Other reasons for market growth in this region include heavy food subsidization, the high purchasing power of consumers, and health-consciousness among Americans.
In Europe, the factors helping the market growth include the high purchasing power of consumers and the presence of some key market players. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK.
In the Asia Pacific region, the market can be strong due to economic growth, and increasing purchasing power of consumers. The remarkable country-specific markets in this region are China, India, and Japan. In this report, Australia and New Zealand have been clubbed into one segment.
The RoW segment covers South America, Africa, and the Middle East. South America is a decent market due to stable economies, but the purchasing power of people is lower than those in North America. In the Middle East, many agricultural activities are not possible due to climate. Hence, this region can be a huge market for ready to eat food if meal kits are imported. However, cultural reasons like laws making the consumption of halal meat compulsory can limit market growth. Africa has poor economies, and consumers have low purchasing power.