by The prepared meal delivery market involves the delivery of pre-packaged and pre-portioned ingredients and recipes for home cooking. Prepared meal delivery services allow consumers to choose from a variety of recipes each week and receive fresh ingredients and easy-to-follow recipes to prepare home-cooked meals with minimal effort. This market has gained significant traction in recent years due to the increasing demand for convenience food options and changing consumer lifestyles.
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, and Mosaic Foods. These players are focusing on expanding their product portfolios and global footprint to cater to the growing demand.
The key opportunities in the market include expanding offerings to include customized meal options based on regional preferences, nutrition requirements, and tastes. Companies are investing in advanced technologies to provide personalized meal recommendation and customization options. There is also a rise in demand for organic, gluten-free, plant-based, and low-calorie Prepared Meal Delivery Market Demand options among health-conscious consumers.
Globally, the prepared meal delivery market is expected to witness high growth in regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The large consumer base, rising disposable incomes, and busy lifestyles are driving the adoption of prepared meal delivery services. Major players are focusing on expanding to untapped markets by partnering with local players and establishing production and distribution facilities.
Market Drivers
A major driver for the prepared meal delivery market is the increasing demand for convenience food options due to changing consumer lifestyles. There is a rise in nuclear families and dual-income households with less time for cooking. Busy schedules leave little time for grocery shopping and home-cooking, driving the demand for ready-to-eat or easy-to-prepare meal solutions. Prepared meal delivery services help save time on tedious meal planning and preparation tasks. This is a major factor fueling the market growth.
PEST Analysis
Political: Enactment of policies promoting healthy eating and sustainability can positively impact the market. Regulations around food labelling and safety standards affect operations.
Economic: Rising income levels and dual-income households boost demand for convenient meal solutions. Economic downturns may reduce disposable incomes and thus affect market size.
Social: Demand driven by changing lifestyles with less time for cooking. Health and wellness trends promote ready-to-eat nutritious meals. Rise of nuclear families alters food consumption patterns.
Technological: Advancements in food technology aid development of innovative products. Digital platforms facilitate convenient ordering and last-mile delivery. Usage of artificial intelligence and big data helps optimize operations.
Geographical regions of concentration
The prepared meal delivery market in terms of value is largely concentrated in North America and Europe. Factors like busy lifestyles, urbanization and preference for convenience drive substantial demand in countries such as the United States, United Kingdom, Germany and France. However, Asia Pacific is emerging as an important growth region owing to fast expanding middle-class populations and changing dietary patterns in countries like China, India and Japan.
Fastest growing region
According to market analysts, the Middle East and Africa is projected to be the fastest growing regional market for prepared meal delivery between 2024-2031. Countries in this region have relatively untapped potential due to evolving consumer habits, rising disposable income coupled with infrastructure development facilitating service penetration. Growing health awareness as well as increasing internet usage in the MEA region create opportunities for prepared meal brands to cater to the rising demand.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
