Understanding Fresh Food Subscription Study

Study shows revenue from fresh food subscriptions ("meal kits") to flourish into a multi-billion dollar market

Jan 05, 2016, 11:00 ET from Technomic

CHICAGO, Jan. 5, 2016 /PRNewswire/ -- What is one of the largest shifts in consumer food sourcing? According to the Understanding Fresh Food Subscription study just released by Technomic, the global "meal kit" market has topped $1 billion in 2015 and is positioned to change the way consumers think about food at home.

The fresh food subscription market—also known as meal kits—is defined as a service designed to deliver fresh, pre-measured ingredients to the door steps of consumers. Technomic's proprietary study findings discovered this niche market is disrupting food consumption norms. 

"This market initially gained traction overseas, but today the U.S. represents nearly 40% of the global market," says Erik Thoresen, principal at Technomic Inc. "We project the fresh food subscription market in the U.S. alone will grow to a multi-billion dollar market over the next five years. This growth is fueled by growing consumer acceptance of the subscription service model, as well as a strengthening food culture within the mainstream market."

In addition to measuring the current and future economic health of the industry, the Understanding Fresh Food Subscription study delivers in-depth analysis of trends for the market to maximize global opportunities. Key takeaways from the report include:  

  • The U.S. market alone will grow by a factor of 10x over the next five years
  • Worldwide revenues from fresh food subscriptions will top $10 billion by 2020
  • The six focus regions of the study (North America, DACH, Benelux, UK, Australia and Scandinavia) account for over three-fourths of total spending.

In total, 4,500 consumers from the United States, Germany, United Kingdom, Australia, Netherlands, Denmark, and Sweden participated in the research program.

The complete Fresh Food Subscription study is available for purchase by contacting Patrick Noone at pnoone@technomic.com or 312-506-3852. To learn more about the fresh food subscription market contact Erik Thoresen at erikthoresen@technomic.com or 312-506-3815

About Technomic

Only Technomic, A Winsight Company, delivers a 360-degree view of the food industry. We impact growth and profitability for our clients by providing consumer-grounded vision and channel-relevant strategic insights. Our services range from major research studies and management consulting solutions to online databases and simple fact-finding assignments. Our clients include food manufacturers and distributors, restaurants and retailers, or other foodservice organizations, and various institutions aligned with the food industry. Visit us at www.technomic.com.

About Winsight, LLC

Winsight, LLC is a business-to-business media and information services company specializing in the convenience-retailing, restaurant and noncommercial foodservice industries. Winsight has an extensive media portfolio including four publications, CSP, Restaurant Business, FoodService Director and Convenience Store Products, a suite of digital products including websites, e-newsletters (Restaurant Business Daily and CSP Daily News) and webinars, plus video products, mobile and tablet apps, custom marketing solutions and the convenience-retailer intelligence tool, CSPedia. The Winsight Events group produces six exclusive, large-scale executive-level conferences—Restaurant Leadership Conference, FARE Conference, Outlook Leadership, Convenience Retailing University, FSTEC and MenuDirections—in addition to more than 12 major EduNetworking conferences and advisory meetings. Winsight recently acquired Technomic, Inc., a food industry provider of primary and secondary market information and advisory services. Winsight is a recognized leader in the markets it serves.

For more information on Winsight and its brands, go to WinsightMedia.com.

FOR MORE INFORMATION, CONTACT:
Cassie Vedros
Technomic Inc.
Phone: 312-506-4076
Email: cvedros@technomic.com

Logo - http://photos.prnewswire.com/prnh/20110428/CG90692LOGO

SOURCE Technomic



RELATED LINKS

http://www.technomic.com