![]() Cost Ĭost is one of the barriers to use for meal kit services. The meal kit industry is worth $5 billion as of 2022 and projected to increase to $11.6 billion by 2023. However, the compound annual growth rate for vegetarian meal kits is a projected 17.6% from 2022 to 2030, as plant-based and cruelty-free diets increase around the world. ![]() The vegetarian segment in 2021 held the largest revenue share of 63.7%, continuing to be the dominant growth for protein consumers. Following the Covid-19 Pandemic lockdowns, the meal kit industry advanced rapidly, by 2020 HelloFresh reported a 122.6% Y-o-Y revenue growth in Q2. Online meal kit delivery services (OMDS) businesses increase consumer participation to provide both products and services to consumers by delivering ingredients and preparing meals. Although companies and the category have had rapid growth, they face a substantial challenge in retaining subscribers: many customers only use the services once, lured by offers of free meals, and few people continue past the 5-8 week mark: just 6% of customers surveyed by Morning Consult were still subscribed to most meal kit services after 3 months (although Blue Apron did much better than average at 12% 3-month retention). Blue Apron was the service most used by customers surveyed by Morning Consult in 2017, followed by HelloFresh and Plated. Supermarkets have tried to combat meal kits' popularity by making their own kits sold at store's locations. The industry is expected to grow tremendously and estimates show that it could make up 1.3% of food and beverage sales by 2020. As of July 2017, according to Time Magazine, the meal kit business was estimated to be USD$2.2 billion globally, which represents under 1% of the estimated $1.3 trillion food market. Business Īccording to Inc Magazine, as of March 2017 there were over 150 meal kit companies in the United States. ![]() market roughly simultaneously in 2012: Blue Apron, HelloFresh (which was already operating in Europe), and Plated. Three meal kit companies entered the U.S. Middagsfrid quickly spread to several other Northern European countries, and inspired a range of competitors. The business model originated in Sweden, and conflicting sources credit either Kicki Theander's launch of Middagsfrid (roughly translated as “dinnertime bliss”) in 2007, or Linas Matkasse, launched in 2008 by siblings Niklas Aronsson and Lina Gebäck. ![]()
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