NEW YORK, June 6, 2022 /PRNewswire/ — The “Meal Kit Market – Competitive Analysis, Impact of COVID-19, Five Force Analysis” report has been added to Technavio’s offering. The market value is set to grow by USD 11.13 billion, progressing at a CAGR of 11.25% from 2020 to 2025, as per the latest report by Technavio.
Moreover, the market is segmented by product (non-vegetarian and vegetarian) and geography (North America, Europe, APAC, South America, and MEA).
Technavio has announced its latest market research report titled Meal Kit Market by Product and Geography – Forecast and Analysis 2021-2025
Purchase this Meal Kit Market report to uncover new strategies to make the most of future growth opportunities
Market Segmentation
By Product- The meal kit market share growth by the non-vegetarian segment will be significant during the forecast period. One of the major reasons for the growth of non-vegetarian meals among consumers is the growing preference of consumers toward ethnic cuisines.
By Geography- 54% of the market’s growth will originate from North America during the forecast period. The US is the key market for meal kits in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions. The growing number of working populations looking for convenient and easy-to-prepare meal options will facilitate the meal kit market growth in North America over the forecast period.
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Market Dynamics
Key Driver- One of the key factors driving growth in the meal kit market is the cost-effective solution and availability of diverse choices. Consumers look for convenience in their eating routine, along with sustainably sourced food at affordable prices. At a restaurant, the consumer might end up paying $35 to $40 for two persons, which will include food and tax. The cost of a meal kit for two persons is about $20 to $25, which is around 40% less than eating out. A meal kit is a viable option for consumers who have three to four meals outside daily, as it can be more affordable. Vendors are constantly enhancing their menus and adding new dishes, which gives customers a wide variety of options to choose from.
Key Trend- The customers looking for a convenient option with the advent of a faster lifestyle is another major factor supporting the meal kit market share growth. Meal kit encourages consumers to venture outside of their comfort zones in terms of ingredients and preparation techniques. Vendors ensure that the meal kit provided to the consumers has easy-to-follow recipes, cooking tips, as well as the exact amount of ingredients required to prepare the meal in a convenient, pre-packaged box. Vendors are providing consumers with a subscription option, wherein consumers can sign up for a subscription and indicate their dietary preferences, as many consumers are opting for a faster lifestyle.
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Company Profiles
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Albertsons Companies Inc.
Blue Apron Holdings Inc.
HelloFresh SE
Koninklijke Ahold Delhaize NV
Mindful Chef Ltd.
Oisix ra daichi Inc.
SunBasket Inc.
The Kroger Co.
Tyson Foods Inc.
William Jackson Food Group
The meal kit delivery services market is fragmented and the vendors are deploying growth strategies such as acquiring small and regional players to increase their global reach and compete in the market.
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What are the Key Factors Covered in this Meal Kit Market Report?
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will drive meal kit market growth during the next five years
Precise estimation of the meal kit market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the meal kit delivery services industry across North America, Europe, APAC, South America, and MEA
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of meal kit delivery services market vendors
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Meal Kit Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 11.25% |
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Market growth 2021-2025 |
$ 11.13 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
-18.67 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 54% |
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Key consumer countries |
US, UK, Germany, China, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Albertsons Companies Inc., Blue Apron Holdings Inc., HelloFresh SE, Koninklijke Ahold Delhaize NV, Mindful Chef Ltd., Oisix ra daichi Inc., SunBasket Inc., The Kroger Co., Tyson Foods Inc., and William Jackson Food Group |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Product
Market segments
Comparison by Product
Vegetarian – Market size and forecast 2020-2025
Non-vegetarian – Market size and forecast 2020-2025
Market opportunity by Product
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
North America – Market size and forecast 2020-2025
Europe – Market size and forecast 2020-2025
APAC – Market size and forecast 2020-2025
South America – Market size and forecast 2020-2025
MEA – Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Albertsons Companies Inc.
Blue Apron Holdings Inc.
HelloFresh SE
Koninklijke Ahold Delhaize NV
Mindful Chef Ltd.
Oisix ra daichi Inc.
SunBasket Inc.
The Kroger Co.
Tyson Foods Inc.
William Jackson Food Group
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
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