US Prepared Meal Delivery Industry Market was valued in 2020, at 7.65 billion U.S. dollars. By 2024, the market is expected to more than double, reaching 15.6 billion dollars.
Major Players In the market contain Blue Apron, HelloFresh, Plated, Gobble and Home Chef.
By early April, Blue Apron was reporting increases in its customer base and net revenues as demand for its meal-prep boxes spiked among Americans tired of eating peanut butter and jelly sandwiches for dinner. Meal kit companies have been gaining ground rapidly, such that an industry that looked to be on the edge a year ago is now flourishing and pulling in new players. Blue apron stocks has been on a downward trends since its initial public offering stock price of $ 140.10 in June 2017 , but it has recovered its three- year low of $2.28 in March 2020 to $12.24 per share as of July 2020.
Aug 2020, In line with its corporate sustainability strategy, meal-kit provider HelloFresh has committed to becoming 100% carbon neutral a global first for the meal-kit space. HelloFresh are partnering with Planetly, a Berlin-based startup. Together with their expertise, we will invest in climate protection projects around the world. The initiative is expected to offset over 40,000 metric tonnes of carbon for 2020. In the U.S., Company is collaborating with TerraPass to offset at least 50,000 metric tonnes of carbon.
Jan 2020, Boise-based Albertsons again brought its pre-packaged meal kits back to local stores. The meal kit service got national publicity on Shark Tank, and competed against similar products like Blue Apron. Under Albertsons, the company started distributing the kits in stores in several markets including Boise. But several months later, the kits disappeared. Then Albertsons said it would end home delivery and bring a line of plated products back to stores. The new kits sport a reworked brand but remain largely the same.
By Product Type market has segmented into Ready-to-eat Food and Fresh Ingredients. By Application it divided into Personal Meal Kits and Family Meal Kits. By Region North America and countries are U.S, Canada and Mexico. 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. According to Trading Economics, there is about 16856.89 USD Billion Disposable Personal incomes in the United States in February 2020 which is increased from 16789.10 USD Billion in January of 2020. Further Second highest region in 2020 is Asia-Pacific due to the development in the food & beverage industry and growth in population.
In Covid -19 situation Meal delivery service market has largely grown due to the shut down the hotels and restaurants in worldwide. Consumers have remained this option for meal. Further In a forecast period market is expected to reach high revenue rate due the popularity of products.
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