The Prepared Meal Delivery Market has seen strong growth over recent years as more people rely on pre-packaged, pre-portioned healthy meals delivered directly to their homes and workplaces. Prepared meal delivery services provide customers with fresh, nutritious ingredients and easy to follow recipe cards to make delicious home cooked meals with minimal effort. Meals are designed by nutritionists and dieticians to support various dietary needs and lifestyles. The convenience of having all components of a meal delivered weekly helps consumers save time on grocery shopping and meal planning. The Global Prepared Meal Delivery Market is estimated to be valued at US$ 23.85 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the Prepared Meal Delivery Market Growth 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, Mosaic Foods. Hello Fresh and Blue Apron are the global leaders with the widest geographic presence across various markets.

The growing demand for convenience and increasing health consciousness among consumers is fueling the growth of the prepared meal delivery market. More people preferring home cooked meals over restaurant takeaways due to concerns over calories and ingredients in restaurant food is driving demand. Customers also opt for prepared meal services to support fitness and wellness goals with nutritious recipe options.

Major players are expanding globally by adding local ingredients and recipes to their offerings catering to regional tastes. International players are also employing local chefs and creating country or region specific meal plans. This helps gain consumer trust and an authentic consumer experience. The market is expected to grow multifold in the next decade with rising acceptance of prepared meal deliveries worldwide.

Market Key Trends

A key trend seen in the prepared meal delivery market is an increase in diverse and customized meal options. Services are launching different plan types to suit varied budgets, lifestyles and dietary preferences including vegetarian, vegan, keto, Mediterranean and others. Ready to eat options that don’t require any cooking are also becoming increasingly popular among busy consumers. Innovation in recipes, cuisines and utilizing seasonal ingredients also helps boost customer engagement and loyalty. Sustainability initiatives in sourcing and packaging adopted by major players further attract health and environment conscious millennials.

Porter’s Analysis
Threat of new entrants: High upfront investment and operational costs for setting up a commercial kitchen pose a barrier to entry. However, emergence of shared commercial kitchens has reduced entry barriers to some extent.
Bargaining power of buyers: Buyers have low bargaining power due to availability of various alternatives in the market offering customized meal plans and healthy recipes.
Bargaining power of suppliers: Suppliers have moderate bargaining power owing to concentration of raw material supply and dependency of prepared meal providers on consistent supply.
Threat of new substitutes: Low threat from substitutes as ready-to-eat meals offer convenience over other substitutes like grocery stores, restaurants, takeout etc.
Competitive rivalry: Intense competition exists amongst existing players differentiated based on variety, taste, customized offerings, nutrition level etc.

Geographical regions with highest market share
North America accounts for the largest share of the global prepared meal delivery market, primarily driven by high preference for convenience foods and healthy eating habits in countries like the US. The Asia Pacific region is expected to witness the fastest growth due to changing lifestyles, increasing disposable incomes and growing health awareness in major countries like India and China.

Fastest growing geographical region
The Asia Pacific region is projected to be the fastest growing market for prepared meal delivery during the forecast period. This growth can be attributed to rapid urbanization, rising number of working women joining the workforce and expanding middle-class population with discretionary spending on premium food products in developing Asian countries. Furthermore, significant presence of global prepared meal providers exploring opportunities and strong demand for healthy and hassle-free meal solutions will drive the market in the region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it