- Report ID: BMRC 1349 | Number of pages: 200 | Publish Date: Sep 2020
Status: Published | Category: Food And Beverage | Delivery Timeline:
Prepared Meal Delivery Industry Market is valued at USD 3.19 Billion in 2018 and expected to reach USD 9.68 Billion by 2025 with the CAGR of 17.15% over the forecast period.
Global Prepared Meal Delivery Industry Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2025-Factors such as Increasing accessibility offered in terms of time saving and little efforts required for the preparation of meals and increasing preference of meals by working population and students are contributing in the market growth.
Scope of Global Prepared Meal Delivery Industry Market is as;
Prepared meal delivery is a service that sends customers fresh or frozen, prepared meals delivered to customer’s homes and offices. These services individually package pre-portioned meals in support with eating a healthy diet. These services prepare and cook meals for customers. Meals may come in small containers and are regularly labeled with nutritional information. Also there are many options for specific diet types like vegetarian and vegan. These services often operate on a payment business model instead of by individual order as in pizza delivery or with the wider category of online food ordering. Meal kit is an alternate type of meal delivery service which distributes ingredients and recipes that customers prepare them. They provide many advantages such as it reduce food waste, simplifies healthy eating, increased convenience and saves money.
Global prepared meal delivery industry market is segmented into product type and application. On the basis of product type the market is segmented into ready-to-eat food and fresh ingredients. On the basis of application, the market is segmented into personal meal kits and family meal kits.
The regions covered in this global prepared meal delivery industry market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of prepared meal delivery is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Globally Manufacturers such as 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 and many others are contributing in the Market Growth.
Food delivery companies brace up to weather storm.
On 17 April, 2020, the Retail News has published news about food delivery companies’ brace up to weather storm. They wrote that Food delivery volumes are expected to take further dent after a delivery staff from Zomato’s restaurant partner Box8 tested positive for Covid-19 even as many restaurant chains have started to balance back delivery and they encouraging consumers to pick up takeaway orders. The incident of pizza delivery agent testing COVID-19 positive in south Delhi ran to local authorities asking 72 families in South Delhi to self-quarantine and that caused huge panic between consumers.
This is likely to hamper the online food ordering business that had just started to recover to clock a 20% increase over the last week as regulations became clearer. As more restaurants opened up and customers started ordering industry experts and company executives told Economic Times. Many consumers took to social media to question Zomato’s safety protocols with respect to delivery and overall safety standards.
Increasing Preference of Meals by Working Population and Students are driving the growth of the market.
As junk foods are time saving and little efforts required for the preparation of junk meals there is increasing preference of junk meals by working population and students which is driving the market growth. for instance, According to International Journal of Science and Research (IJSR), more than 60 percent of the respondents in the age group of 16 and 18 years in their study spend their entire pocket money on fast foods and among these students 32.8 % consumed fast foods four times a week, 28% thrice, 25.2% had twice and 14% once in a week.
Also factor such as improvements in nutritional value of frozen pizza, interesting ingredient profiles and ease with which it can be cooked is fueling its demand among young population and hence contributing in the market growth. In addition these prepared meals serve as low-cost alternatives to junk food is expected to drive the market growth in forecast period. However, negative insights relating to health effects of these products among the consumers hampering the market growth.
North America is dominating the Prepared Meal Delivery Market.
Geographically, North America region is dominating the prepared meal delivery market. This is due to the region has technological innovations, high personal disposable income and busy lifestyle of consumers. For instance, according to United Nations Conference on Trade and Development there are about 1,098 researchers per million people globally in 2014 and According to Trading Economics, there is about 16853.81 USD Billion Disposable Personal income in the United States in February 2020 which is increased from 16763.09 USD Billion in January of 2020.
Also the Asia Pacific region is at second position in dominance. This is due to the stable economic growth, development in the food & beverage industry and growth in population. For instance, According to Economic and Social Commission for Asia and the Pacific, the total population of the Asia-Pacific region stood at 4.3 billion, which is 60%of the world’s population and Currently, there are 1.8 billion in South and South-West Asia, 1.6 billion in North and North-East Asia, 0.6 billion in South-East Asia, 0.2 billion in North and Central Asia and 38 million in the Pacific in 2013.
Key Benefits for Global Prepared Meal Delivery Industry Market Reports –
By Product Type
By Regional & Country Analysis:
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Global Prepared Meal Delivery Industry Market Size By Product Type (Ready-to-eat Food, Fresh Ingredients) Forecast 2020-2026