The size of global market for meal kit delivery services was valued at $15.21 billion in 2021, and it is projected to experience a CAGR of 17.4% from 2022 to 2030. In April 2020, a survey conducted by HUNTER indicated that 54% of consumers in America are cooking more than they did previously, and 22% are ordering prepared meal kits more frequently, suggesting that home cooking is gaining popularity over dining out. In 2021, the largest share of revenue in the market for meal kit delivery services, accounting for 60.7%, was held by the cook-and-eat segment. The dominance can be ascribed to the popularity of gourmet-style home cooking amongst youngsters. However, the heat and eat segment is expected to show a higher CAGR of 17.8% from 2022 to 2030 in the market for meal kit delivery services. The segment of online meal kit delivery services held the largest revenue share, accounting for 63.2% of the market in 2021. From 2022 to 2030, the offline platform in the meal kit delivery services market is projected to show a CAGR of 17.8%. In 2021, North America’s meal kit delivery services market held the largest revenue share of 46.2%, as many consumers in the region opted for these kits as a time- and effort-saving solution. Asia Pacific’s meal kit delivery services market is expected to experience a CAGR of 18.8% from 2022 to 2030.
The rising urban population, increasing number of working women, and growing middle class in developing countries are driving the demand for meal kit delivery services. Furthermore, due to improved lifestyles in emerging countries, the disposable income of individuals has increased, and people tend to buy meal kit subscriptions. These factors have forced the companies to provide better quality meal kit delivery services on a weekly or monthly basis. Ease of use of service, convenient and faster mode of cooking, less time consumption, and consideration of meal preferences (veg, seafood, chicken) are the factors that are also expected to fuel the expansion of the meal kit delivery services market.