Meal Kit Delivery - Worldwide

Worldwide

Highlights

The Meal Kit Delivery market worldwide is projected to reach a revenue of US$14.59bn by 2024.
This indicates a considerable growth potential for the industry.
Furthermore, it is expected that the market will experience a steady annual growth rate (CAGR 2024-2028) of 7.55%.
By 2028, the projected market volume is estimated to reach US$19.52bn, illustrating the continuous expansion of the Meal Kit Delivery market.
Within the Meal Kit Delivery market, it is anticipated that the number of users will significantly increase over time.
By 2028, the number of users is expected to reach 29.2m users, indicating a significant demand for meal kit services.
The user penetration rate is predicted to be 0.3% in 2024, but it is projected to grow to 0.4% by 2028, suggesting a rising adoption of this convenient and time-saving solution.
The average revenue per user (ARPU) is expected to amount to US$627.50, reflecting the value that customers place on the convenience and quality provided by meal kit delivery services.
In terms of global comparison, United States is expected to generate the highest revenue in the Meal Kit Delivery market.
In 2024, United States is projected to generate US$5.64bn in revenue.
This signifies the significant market presence and consumer demand for meal kit services United States.
In the United States, the meal kit delivery market has experienced substantial growth, with a wide range of options catering to different dietary preferences and lifestyles.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Meal Kits market has been an up-and-coming service due to the convenience with most markets dominated by one player, HelloFresh. As a niche segment, the customer churn is high, and the customer lifetime value does not always cover the acquisition cost.

Nevertheless, the United States leads all the markets, it is even worth more than half of the revenue generated by HelloFresh. South Korea shows the strongest growth. In 2021, more than 70 percent of South Korean adults were aware of meal kits. Among women the awareness was even higher, exceeding 80 percent. In Europe, the craze has not yet gained traction but shows promise. Sustainability is a big trend in the market as meal kits have less of a carbon footprint than grocery stores.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.