New Report: Meal Kit Delivery Service Market to Grow at a CAGR of 20.51% | Industry Size, Share, Trends and Analysis to 2018-2022

Radiant Insights, Inc
Radiant Insights has announced the addition of “Global Meal Kit Delivery Service Market 2018-2022″ Market Research report to their database.

The global meal kit delivery service market is estimated to grow at a phenomenal CAGR over the forecast period (2018 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for convenient and less time-consuming cooking solutions are presumed to encourage demand for meal kit delivery services. Home delivery of required meal kits including all ingredients in sufficient quantity along with detailed recipe is likely to facilitate first-time users in cooking fresh meals at home in less time.

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Provision of dietary preference coupled with attractive subscription plans are likely to stimulate market growth. Reduction in meal preparation time owing to easy availability of all required ingredients can fuel growth of market. Growing adoption of convenient cooking methods attributed to fast lifestyle can stimulate market growth in the forthcoming years. High demand for gluten-free meal kits owing to rising cases of gluten related disorders is likely to influence growth of market during the forecast period (2018 to 2022).

Increasing adoption of ready-to-cook meals among consumers owing to their busy schedule or minimal cooking experience can foster demand for meal kit delivery services. To cater to the rising demand, most companies are offering home delivery services of meal kits ordered online by consumers. For instance, Blue Apron recently announced that it is likely to sell meal kits in selective stores from Costco at discounted prices. In addition, the company also revealed that it can sell meal kits for both chicken tacos and beef stir-fry in seventeen stores around San Francisco and the Pacific Northwest. Moreover, the company has expansion plans in the coming future.

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The meal kit delivery service market can be segregated on the basis of product type, distribution channel, and region. Based on product type, the market can be bifurcated into vegetarian and non-vegetarian. The non-vegetarian segment is anticipated to display exceptional growth during the forecast period due to high demand among consumers. In addition, availability of vendors offering wide range of products in the same segment can impel growth.

Based on distribution channel, the market can be divided into online store and offline store. The online store segment is predicted to grow at a substantial pace owing to convenience offered to consumers. Service providers are likely to deliver fresh ingredients for one or more meals along with a step by step recipe in a box to the consumer’s home address.

Regional segmentation includes Americas, Asia Pacific (APAC), and Europe, Middle East & Africa (EMEA). In Americas, the meal kit delivery service market is expected to witness significant growth during the forecast period owing to presence of major service providers in the region. In addition, high demand for culinary convenience among individuals in the Americas owing to their hectic lifestyle can fuel product demand in the region during the forecast period.

In the EMEA market, Europe is likely to grow well in the forthcoming years owing to increasing adoption of meal kits among consumers owing to convenience. Use of mobile applications and presence of grocery delivery platforms catering to a young demographic is anticipated to drive market growth in the region.

The APAC market is anticipated to show tremendous growth during the forecast period owing to high acceptance among households and senior citizens in Japan. In addition, reduced food waste and cooking time for Japanese consumers owing to availability of food ingredients in sufficient quantity is likely to boost demand meal kit delivery services in the region.

Some of the leading players offering meal kit delivery service are HelloFresh SE, Blue Apron, Home Chef, Plated, and Sun Basket.

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