Market revenue in 2023 | USD 10,397.2 million |
Market revenue in 2030 | USD 23,711.4 million |
Growth rate | 12.5% (CAGR from 2023 to 2030) |
Largest segment | Cook & eat |
Fastest growing segment | Heat & Eat |
Historical data | 2017 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Heat & Eat, Cook & Eat |
Key market players worldwide | Nestle SA, HelloFresh SE Bearer Shares, Blue Apron, SunBasket, Home Chef, Gobble, Marley Spoon, The Purple Carrot, Fresh n' Lean, Hungryroot |
Cook & eat was the largest segment with a revenue share of 61.6% in 2023. Horizon Databook has segmented the U.S. meal kit delivery services market based on heat & eat, cook & eat covering the revenue growth of each sub-segment from 2017 to 2030.
The hectic work schedules and busy lifestyles of consumers across the country leave them with less time for cooking at home. This is driving the preference and demand for ready-to-eat meal kits instead of takeout and other unhealthy food options.
In December 2018, a survey by Peapod highlighted that 77% of Americans preferred eating a homemade meal to going out for dinner. Owing to the COVID-19 lockdown orders issued in the country, customers are increasingly opting for meal kits from companies such as Freshly, HelloFresh, and Sun Basket, which have been gaining significant popularity during this period.
According to data provided by HelloFresh, its customer base for meal kit deliveries witnessed a growth of 90% in the first quarter of 2020 as compared to the first quarter of 2019. Similarly, Freshly delivered 4.2 million meals in March 2020, a significant increase from 3.5 million meals in February 2020.
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