According to a recent market analysis by Future Market Insights (FMI), the Market for food delivery services is ready to achieve a rating of $14.63 billion in 2022. Sales are expected to increase by a 15% CAGRachieve with the market size US$59.2 million until 2032.
| attribute | details |
| Estimated size of the meal kit delivery service market (2022) | $14.63 billion |
| Forecast market size (2032) | $59.2 billion |
| Market value based CAGR (2022-2032) | 15.0% |
| Market share of the top players | ~1%-5% |
Major players operating in the Meal Kit Delivery Services Market are adopting multi-brand expansion strategy. They are focused on expanding their market penetration in different geographies by pursuing an aggressive expansion strategy.
HelloFresh Group, for example, recently announced its first market entry in Asia in April 2022, a step in line with its international expansion goal. In addition, HelloFresh Group continues to focus on expanding its international presence through rapid acquisitions.
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HelloFresh acquired Green Chef Company in 2018, Ready-to-Eat Meal Company Factor75, Inc. in 2020, Youfoodz in 2021 and others. All these efforts on the part of established players are likely to further fuel the market growth in the coming years.
Consumer spending on meal kits and food boxes has been growing rapidly, particularly in the UK. In addition, the rapidly growing demand for meal kits from urban and rural areas is expected to boost sales of meal kits in the years to come.
Key insights from the Meal Kit Delivery Service market study
- After the offering of Type, Heat and Eat, the highest growth is expected during the forecast period (2022-2032).
- In terms of meal type, the vegan segment will gain traction through 2022 and beyond
- By distribution channel, the online segment is expected to witness robust growth between 2022 and 2032
- Australia is expected to…
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