Prepared Meal Delivery Market to Reach US$ 47 Billion by 2031 Owing to Increasing Demand for Convenient and Healthy Meal

The global prepared meal delivery market is estimated to be valued at US$ 23.85 billion in 2024 and is expected to exhibit a CAGR of 11.88% over the forecast period 2024 to 2031.
Prepared meal delivery services involve subscription based meal kits that are delivered directly to customers' doorsteps on a regular basis. These meal kits contain pre-portioned ingredients and recipes to cook homemade meals with minimal effort. Prepared meal delivery services are gaining popularity as they offer convenience of getting homemade meals without the hassle of grocery shopping and cooking. Additionally, prepared meals offer great flexibility in choosing from diverse menus suited to specific diets and tastes. The market is also driven by increasing health consciousness amongst consumers and rising preference for nutritious yet convenient ready-to-cook meal options.

Key Takeaways

Key players operating in the Prepared Meal Delivery Market Growth are Hello Fresh, Blue Apron, Home Chef, Marley Spoon, Sun Basket, Abel & Cole, Riverford, Gousto, Quitoque, Kochhaus, Middagsfrid, Allerhandebox, Chefmarket, Kochzauber, Fresh Fitness Food, Mindful Chef, Fresh N Lean, CookUnity, Pete's Real Food, Mosaic Foods. Hello Fresh currently dominates the global market with over 25% share.

Growing demand for convenient and nutritious meals paired with hectic consumer lifestyles is a key factor fueling market growth. Prepared meal deliveries allow consumers to enjoy homemade meals in lesser time. This has led to wider acceptance of these services across various demographic groups.

Technological innovation is enabling prepared meal delivery players to enhance their supply chain management, dietary customization solutions, and interactive user experiences. Advancements like AI-driven recipe platforms, IoT enabled delivery monitoring, and AR/VR assisted recipe instructions are expanding the capabilities of prepared meal services.

Market Trends

- Vegetarian and Vegan Options: There is growing preference for plant-based and vegan diets driven by health, ethical and environmental concerns. Prepared meal players are expanding their offerings to cater to this emerging demand.

- Personalized Nutrition: Companies are leveraging technologies to offer highly customized meal plans based on individual parameters like recipes, ingredients, portion sizes etc. This is gaining traction among health-conscious consumers.

Market Opportunities

- Emerging Markets: While developed regions currently dominate prepared meal delivery space, there is significant potential in developing Asian and Latin American countries owing to growing health awareness and disposable incomes.

- Omnichannel Presence: Integrating online and offline channels through pickup/delivery fromdark stores, retail partnerships, subscriptions at office cafeterias etc. can help companies scale up operations and connect with various customer segments.

Impact of COVID-19 on Prepared Meal Delivery Market Growth
The COVID-19 pandemic has significantly impacted the growth of the prepared meal delivery market. During the initial lockdown phases in 2020, the market experienced a surge in demand as more people stayed indoors and avoided cooking. Prepared meal delivery services enabled convenient access to home-cooked meals without the hassle. However, with restrictions being gradually lifted post vaccines, the demand witnessed a minor decline in 2021.

Nevertheless, the pandemic has led to a permanent shift in consumer preference and behavior. More people now recognize the value and convenience of prepared meal kits, especially the busy working professionals and older adults. The pandemic accelerated the already growing trend of gig work culture as well. Providing easy to cook yet nutritious meals has become more important than ever in today's fast-paced lives. Also, concerns around health and immunity boosted organic, balanced options.

Looking ahead, players must expand their portfolio catering to varied lifestyles and dietary preferences. Transparency regarding sourcing, recipes, and nutritional value will drive loyalty in the post-pandemic period. Sustainable packaging, flexi meal plans, and innovative formats like reheating-only dishes can further propel the market on an upward growth trajectory. Curbside pick-ups, contactless deliveries can offer seamless customer experiences going forward.

Europe Prepared Meal Delivery Market Revenue Concentration

The prepared meal delivery market in Europe has witnessed substantial growth over the past few years. In terms of revenue, several European countries like the United Kingdom, Germany, France account for majority of the overall Europe market share.

The UK market stands out as the most valuable currently. According to industry estimates, over 7 out of 10 UK households now subscribe to at least one meal kit service. Highly diverse cuisine options, easy navigation, and new recipe discoveries are driving repeat purchases. Also, the growing trend of healthy on-the-go lifestyles has boosted singles subscriptions.

Other top revenue contributors include Germany and France. Germany boasts large young urban population that is increasingly opting for hassle-free healthy eating solutions. Meanwhile, innovative kits with familiar French favorites are lifting France's market revenue figures. Overall, Europe will continue capturing a significant share of the global prepared meal delivery revenues through 2031.

Fastest Growing Market - Asia Pacific Prepared Meal Delivery

The prepared meal delivery market is witnessing fastest growth rates in the Asia Pacific region currently. Historically dominated by traditional home-cooked foods, countries like India, China, Japan and Australia are increasingly adopting modern meal solutions.

Among these, India has emerged as a highly promising territory. Combination of rising incomes, nuclear families, and bustling work lives have escalated demand exponentially. Local Indian fare is attracting many first-time users as companies design affordable customized meal plans.

China also demonstrates impressive expansion fueled by growing health awareness in megacities and preference for international ingredients blending with local flavors. Meanwhile, busy schedules of young Japanese professionals and retirees are steering significant meal kit subscriptions.

Overall, Asia Pacific's prepared meal delivery market is expected to thrive on the back of rapid economic development, westernization of diets, expanding middle class, and enhanced digital connectivity in the region.