PUBLISHER: The Business Research Company | PRODUCT CODE: 1484994
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484994
Food and drink subscription boxes are recurring services that deliver curated assortments of food and beverage products directly to consumers' doorsteps. These boxes offer convenience and diversity, allowing customers to explore a variety of novel items that match their preferences without the need to visit physical stores.
The primary types of products in food and drink subscription boxes include replenishment subscriptions, curation subscriptions, and access subscriptions. A replenishment subscription entails customers signing up to receive regular deliveries of a specific product or service at predetermined intervals. These subscriptions may offer various price ranges, spanning from luxury to mid-range, and are distributed through various platforms, including online and offline channels.
The food and drink subscription boxes market research report is one of a series of new reports from The Business Research Company that provides food and drink subscription boxes market statistics, including food and drink subscription boxes industry global market size, regional shares, competitors with a food and drink subscription boxes market share, detailed food and drink subscription boxes market segments, market trends and opportunities, and any further data you may need to thrive in the food and drink subscription boxes industry. This food and drink subscription boxes 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 food and drink subscription boxes market size has grown strongly in recent years. It will grow from $5.92 billion in 2023 to $5.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed during the historical period can be attributed to several factors, including shifting consumer lifestyles, rising disposable income levels, the emergence of specialty diets, growing environmental awareness, and the expansion of food tourism.
The food and drink subscription boxes market size is expected to see strong growth in the next few years. It will grow to $8.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The projected growth in the forecast period can be attributed to several factors, including rising consumer demand, technological advancements, globalization of tastes, responses to health crises, and the effects of urbanization and busy lifestyles. Major trends expected in this period encompass personalization options, the rise of ethical and sustainable products, the adoption of flexible subscription models, an increased focus on health and wellness, and the implementation of innovative packaging solutions.
The surging popularity of e-commerce is poised to drive growth in the food and drink subscription boxes market. E-commerce, characterized by the online buying and selling of goods and services, offers consumers unparalleled convenience, accessibility, extensive product choices, time-saving benefits, and operational efficiency. Food and drink subscription boxes, integral to the e-commerce landscape, provide customers with recurring deliveries of curated products, delivering convenience and personalized experiences. For instance, according to the United States Census Bureau, total e-commerce sales in the USA reached $1,118.7 billion in 2023, marking a notable 7.6% increase from the previous year. Consequently, the burgeoning appeal of e-commerce is fueling expansion in the food and drink subscription boxes market.
Key players in the food and drink subscription boxes market are prioritizing the development of innovative solutions, such as the subscription brunch box, to cater to diverse consumer preferences and gain a competitive advantage. This subscription service offers customers a curated selection of food and drink items specifically tailored for brunch occasions. For example, in March 2023, Blue Apron Holdings Inc., a UK-based meal kit company, introduced its inaugural brunch box, aimed at enhancing weekend dining experiences. The brunch box features a limited-time seasonal assortment of sweet and savory recipes, meticulously crafted for weekend enjoyment. Additionally, it offers an easy-to-prepare, chef-designed menu comprising a range of elevated classics suitable for up to six people. The offering includes breakfast recipes featuring innovative ingredients such as silky-smooth lemon curd for the overnight French toast bake and marinated artichokes for the quiche, accompanied by certified humanely raised and handled thick-cut bacon.
In May 2022, HUNGRY, a US-based food technology firm, completed the acquisition of NatureBox, a US-based company specializing in delivering healthy food via subscription services. This strategic acquisition positions HUNGRY to fortify its presence in the corporate foodservice market, catering to the rising demand for nutritious snacks and comprehensive office food and beverage solutions. NatureBox's expertise in delivering healthy food on a subscription basis complements HUNGRY's objectives, enabling the company to offer a broader array of healthy snack options and enhance its offerings in the corporate foodservice segment.
Major companies operating in the food and drink subscription boxes market are Marley Spoon Inc., HelloFresh SE, ButcherBox, Blue Apron Holdings Inc., Sun Basket, Hungryroot, EveryPlate, Dinnerly, Freshly Inc., Thrive Market, Gousto, Daily Harvest, Birchbox, Winc, Farm Fresh to You, SnackCrate, Green Chef Corporation, Graze, Glossybox, Misfits Market, GreenBlender, MunchPak, Purple Carrot, UrthBox, Candy Club
North America was the largest region in the food and drink subscription boxes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food and drink subscription boxes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the food and drink subscription boxes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The food and drink subscription boxes market includes revenues earned by entities by providing services such customization subscriptions, convenience subscriptions, and gift options. 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.