PUBLISHER: The Business Research Company | PRODUCT CODE: 1436618
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436618
Prepared meal delivery services offer convenient solutions with meals that can be easily reheated or cooked instantly, requiring minimal cooking, cutting, or cleaning. These services operate on a subscription-based model, where companies deliver ready-to-cook fresh ingredients to customers for preparing meals at home.
In the prepared meal delivery market, the main types of supplies are categorized into "cook and eat" and "heat and eat." Cook-and-eat meals provide customers with the experience of home-cooked meals, featuring precut, seasoned, and combined raw ingredients. Prepared meal delivery services offer both single and multiple meal options, accessible through online and offline platforms.
The prepared meal delivery market research report is one of a series of new reports from The Business Research Company that provides prepared meal delivery market statistics, including prepared meal delivery industry global market size, regional shares, competitors with a prepared meal delivery market share, detailed prepared meal delivery market segments, market trends and opportunities, and any further data you may need to thrive in the prepared meal delivery industry. This prepared meal delivery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The prepared meal delivery market size has grown rapidly in recent years. It will grow from $13.6 billion in 2023 to $15.65 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth observed in the historic period can be attributed to several factors, including shifting work and lifestyle patterns, a heightened awareness of healthy eating, the rise of urbanization, the busy schedules of urban professionals and millennials, and the expansion of online and mobile platforms.
The prepared meal delivery market size is expected to see rapid growth in the next few years. It will grow to $28.26 billion in 2028 at a compound annual growth rate (CAGR) of 15.9%. The anticipated growth in the forecast period can be ascribed to an ongoing emphasis on convenience, a heightened focus on customization and personalization, increased awareness of health and wellness, a growing preference for sustainable and ethical food choices, and the integration of specialty and dietary-specific menus. Key trends expected in the forecast period encompass partnerships with local and sustainable suppliers, the introduction of quick and convenient meal kits, a focus on packaging sustainability and eco-friendly practices, the expansion of breakfast and snack options, as well as innovations in meal preparation techniques.
The predominant driving force behind the growth of the prepared meal delivery market is the preference for convenient meals, particularly among the working population and students. Junk meals, referring to pre-prepared or packaged foods offering high convenience and immediate consumption, have become a popular choice. The success of the meal kit delivery industry is attributed to its appeal to consumers who seek the convenience of cooking without the need for traditional grocery shopping. This trend is especially favored by busy parents, millennials, individuals managing multiple jobs, working couples, and those with specific dietary preferences, as pre-planned meals provide a quick and efficient solution. Consequently, the preference for convenient junk meals is a key factor propelling the growth of the prepared meal delivery service market.
The growth of urbanization is anticipated to further drive the expansion of the prepared meal delivery market. Urbanization, characterized by the increasing growth and expansion of cities along with the migration of populations from rural to urban areas, contributes to the demand for convenient and time-saving food solutions. The fast-paced urban lifestyle, prevalent in bustling city environments, fuels the need for prepared meal delivery services. As of April 2022, according to the World Economic Forum, over 4.3 billion people, accounting for 55% of the world's population, were residing in urban settings, with expectations for this number to rise to 80% by 2050. Hence, the ongoing trend of urbanization is a significant driver for the growth of the prepared meal delivery market.
Contactless delivery has emerged as a prominent trend in the market, gaining popularity especially in light of the ongoing COVID-19 pandemic. As social distancing remains a fundamental aspect of daily life, food outlets are increasingly adopting innovative food delivery platforms to facilitate seamless contactless deliveries, prioritizing the safety of both customers and delivery personnel. An example of this trend is the partnership between Ottonomy, a US-based provider of contactless deliveries, and the LA-based mobile ordering app, Crave, launched in November 2021. Ottonomy's contactless food delivery service caters to the restaurant and hospitality sectors, and it has been piloting both indoor and outdoor deliveries in various markets across the country, including airports and retail environments.
Major companies in the prepared meal delivery market are strategically focusing on product innovation to address the demand for comforting and nostalgic food experiences. One notable innovation is the introduction of home-cooked meal services, which provide pre-portioned ingredients and recipes for customers to prepare high-quality meals at home without the inconvenience of planning, shopping, and chopping. For instance, Zomato, an India-based online food service platform, launched Zomato Everyday in February 2023, a new home-cooked meal service. The shift in focus from Zomato Instant underscores the company's commitment to offering affordable, home-style cooked meals through collaborations with food partners and home chefs, providing customers with wholesome and delicious food options.
In September 2023, Wonder Group, a US-based meal delivery company, acquired Blue Apron for $103 million. This acquisition positions Blue Apron as a foundational element to enhance Wonder's online delivery service. The objective is to expedite strategic standing, generate immediate synergies, and importantly, improve customer satisfaction by broadening access and enhancing the overall delivery experience of Wonder's offerings. Blue Apron, known for providing meal kits with fresh ingredients, will play a crucial role in advancing Wonder Group's capabilities in the competitive meal delivery landscape.
Major companies operating in the prepared meal delivery market report are HelloFresh SE, EveryPlate, Home Chef, Marley Spoon Inc., Dinnerly, FreshDirect LLC, Hungryroot Inc., Misfits Market Inc., Green Chef Corporation, Sun Basket Inc., Blue Apron Holdings Inc., CookUnity Inc., Trifecta Nutrition Inc., Daily Harvest Inc., Freshly Inc., Snap Kitchen Holdings LLC, Purple Carrot Inc., Gobble Inc., Factor 75 LLC, Diet-To-Go Inc., Hungry Harvest Inc., Fresh n' Lean LLC, Munchery Inc., PlateJoy Inc., RealEats America Inc., Chef'd LLC, Foodstirs Inc., 1 Potato, Splendid Spoon Inc., PeachDish LLC
North America was the largest region in the prepared meal delivery market in 2023. Asia-Pacific was the second largest market in prepared meal delivery market. The regions covered in the prepared meal delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the prepared meal delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The prepared meal delivery market includes revenues earned by entities by reducing food and packaging wastage while saving time and money. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Prepared Meal Delivery Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on prepared meal delivery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for prepared meal delivery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The prepared meal delivery market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.