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Meal Kit Delivery Services Market Sluggish Growth Rate Foreseen by 2020-2030

Meal Kit Delivery Services Market Sluggish Growth Rate Foreseen by 2020-2030
Food trends evolve at a frequent rate. The considerable growth in the food and beverage industry due to the rising disposable income and the heightening urbanization levels across many regions has accelerated the quick food sector to a considerable extent.

Meal Kit Delivery Services Market: Overview

Food trends evolve at a frequent rate. The considerable growth in the food and beverage industry due to the rising disposable income and the heightening urbanization levels across many regions has accelerated the quick food sector to a considerable extent. People nowadays have hectic work schedules which have resulted in the shift to quick and on-the-go foods. Services like meal kit deliveries have gained substantial momentum, which will have a large impact on the growth of the meal kit delivery services market during the forecast period of 2020-2030.

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Meal kit delivery firms provide services that deliver ingredients or partially-prepared food to the customers. The customers can customize the food according to their likes and enjoy homemade food without any hassles. The convenience and the plethora of benefits they offer bring tremendous growth opportunities for the meal kit delivery services market.

The booming millennial population and their inclination toward consuming healthy and homemade food instead of readymade and junk food are boosting the growth prospects of the meal kit delivery services market to a substantial extent. The food choices of the millennial category are shifting toward hassle-free and homemade food at a thriving rate, which brings immense growth opportunities for the meal kit delivery services market.

Since their advent in 2007, meal kit delivery services have come a long way. The services eliminate the tedious task of grocery shopping or meal planning, which make them a favorite among the generation Z and millennial category. This benefit makes the kits more appealing to individuals in this category.

Meal Kit Delivery Services Market: Competitive Insights

The meal kit delivery services market is fragmented with many players in the fray for gaining a prominent position. The players in the meal kit delivery services market strive to enhance their services by expanding the offerings and designing appealing food options.

Some well-entrenched players in the meal kit delivery services market are;

EveryPlate HelloFresh CookUnity Trifecta, Inc. RealEats.

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Key Trends

Preference for Plant-Based Diets Attracting Massive Growth Prospects

The growing preference of individuals around the globe for plant-based diets is bringing extensive growth opportunities for the meal kit delivery services market. Diet-specific meal kits are inviting exponential growth. For instance, Trifecta Nutrition offers meal kits specific to ketogenic diets. It offers portions right from breakfast to dinner. BistroMD is a meal kit delivery service that also offers menopause-friendly plans for women. Such developments invite phenomenal growth.

COVID-19 Pandemic to Open New Avenues of Growth

Due to the stay-at-home orders and the shutting down of restaurants and cafes due to the coronavirus outbreak, the trend of cooking food at home gained traction. Popular meal kit delivery service providers reported an increase in the customer base.

The older population and even the younger population prefer ordering these kits instead of venturing out, buying groceries, and then preparing food. The fear of virus transmission among people has also led them to order online. All these factors will have a huge positive impact on the growth of the meal kit delivery services market.

Meal Kit Delivery Services Market: Regional Dimensions

The meal kit delivery services market in North America will observe a dominant streak across the forecast period. The growing preference of the individuals in the region for meal kit delivery due to the convenience factor will serve as a vital growth factor. Europe will also contribute largely to the growth of the meal kit delivery services market. Asia Pacific will observe moderate growth as the market is still in its infancy across the countries but will witness accelerated demand in the coming period.

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