Prepared Meal Delivery Market Poised to Witness High Growth Owing to Increased Health Awareness

 
Prepared Meal Delivery Market Demand

The Prepared Meal Delivery Market involves the service of providing ingredients and recipes for meals that are prepared and delivered to consumers. Prepared meal delivery services allow people to eat home-cooked meals without the hassle of extensive grocery shopping, meal planning and cooking. The products offered through these services are healthy, convenient and make eating nutritious meals easy. This is a significant advantage in today's fast-paced lifestyle where people have little time for cooking. The demand for ready-to-eat healthy meals is growing rapidly due to rising health awareness among consumers.

 The Global Prepared Meal Delivery Market is estimated to be valued at US$ 10.92 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Prepared Meal Delivery market 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 is currently the global Prepared Meal Delivery Market Demand leader with its innovative recipes and flexible plan options.

The increasing health consciousness and busy lifestyles have opened up many opportunities for growth in the prepared meal delivery sector. The market has seen rising demand for low-calorie, gluten-free, keto-friendly, and other specialized meal options. Companies are innovating new product lines and customizing offerings to cater to diverse consumer needs.

Prepared meal delivery companies have also been expanding globally with entries into international markets like Europe, Asia Pacific, Middle East and South America. HelloFresh for example has operations across seven countries. The relaxation of international trade policies and growth of e-commerce are supporting the global expansion of this industry.

Market Drivers and Restraint:

A key driver for the market is increasing prevalence of lifestyle diseases resulting from lack of nutrition and physical activity. Diseases like diabetes, obesity and heart conditions are major healthcare burdens globally. Prepared meal services help people adopt healthy diets in easy and convenient ways, driving up their popularity. Busy work schedules and dual-income families also leave little time for cooking, spurring demand for ready-to-eat alternatives.

However, high prices of subscription plans especially for specialized offerings pose a major challenge for customer acquisition and retention. Additional costs for delivery and short shelf-life of perishable items also impact the overall value proposition. Stringent food safety and sourcing regulations across regions also increase operating costs for prepared meal delivery firms.

Segment Analysis

The prepared meal delivery market is dominated by gluten-free and keto meal kits, that account for over 30% market share owing to rise in health consciousness among consumers and increasing prevalence of gluten intolerance and diabetes. Within gluten-free segment, rice-based and chickpea-based meals have gained popularity as they offer wide selection and variety in menu choices compared to other alternatives like millet and sorghum.

Regional Analysis

Europe dominates the prepared meal delivery market currently with over 40% share due to large consumer base that prefer convenience offered by delivery services over cooking. Germany, France and UK are major European markets with high urbanization, busy lifestyles and acceptance of new trends. North America is the fastest growing regional market expected to expand at a CAGR of 12% during forecast period led by US. Increasing preference for home-cooked meals and novel flavor experiences is driving the market growth in North America.

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