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Regional Analysis & Forecasts
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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Key Market Dynamics:
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.
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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The meal kit market report is segmented by Product (Vegetarian and Non-vegetarian) and Geography (North America, Europe, APAC, South America, and MEA). North America will be the leading region with 54% of the market's growth during the forecast period. The BLANK (KEY COUNTRY) is the key market for meal kit in North America.
Segmentation Analysis & Forecasts
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.
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Major Companies of the Market·
- 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
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Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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Meal Kit Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.25% |
Market growth 2021-2025 |
$ 11.13 billion |
Market structure |
Fragmented |
YoY growth (%) |
-18.67 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 54% |
Key consumer countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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 |
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. |
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
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 focuses 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 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
Technavio Research
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SOURCE Technavio
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