The Europe Meal Kit Market size is expected to grow at a CAGR of 8.15% over the forecast period.
A meal kit subscription service is a service offered by a company that sends re-portioned and sometimes partially prepared food ingredients and recipes to its subscribers to prepare home-cooked meals with these ingredients.
A lack of sufficient time among the younger generation of people, as well as their preference for more nutritious and homemade foods over snacks and unhealthy foods, are the key factors driving the growth of the European meal kit market. There is also an increase in disposable income in the region and an increase in spending on healthy foods that contributes to the growth in this region. As a result, food wastage has been reduced to a very high level in every household where meal kits are used regularly. Additionally, expanding social media among consumers has created awareness about the benefits of meal kits. Instead of having to go to the supermarket and select each ingredient one by one after picking out the ingredients, these companies deliver customized meals based on the customer's specific requirements, so they can prepare them in their homes.
Reduction in food waste:
To make their dishes at home, consumers can order the exact quantity of ingredients they need. Rather than having to pick up extra ingredients at the store, this is a much more convenient method that can save you from food waste. As a customer, you can choose any of the different recipes available to you, and you can choose the one that suits your preferences the best. As a result, there is a reduction in the amount of food thrown away, which has emerged as a major problem in most parts of the world. It has been reported that meal kits have the potential to reduce food waste by more than two-thirds, according to a study. Meal kits have become highly popular among the younger generation due to reduced food wastage.
The strict regulation regarding food safety by the European Union poses a threat to the growth of the meal kit market. Furthermore, the benefits of meal kits are not well known by many people in this digital age who lack awareness of this service's advantages.
High prices of the meals:
There is a price difference between the meal kits the customer orders and those they can buy in other grocery stores, preventing the market from growing. Due to the high competition in the market, customers want to compare the prices taken from them due to the rise in awareness among them.
The distribution channel in the European meal kit market is segmented into Online and In-store. Online is leading the market in 2021 and is predicted to grow at a high rate during the forecasted period. Online services are becoming more and more popular as a result of changing lifestyles and consumer preferences. Several factors contribute to this growth, including the expansion of internet services and the development of smartphones, which are becoming more widely available as disposable income grows. As a result, it's no longer necessary for consumers in this digital age to walk to in-stores and queue for the services they need; they just prefer to order online and have a service delivered directly to their homes without inconvenience.
The in-store segment in the distribution segment is also growing at a steady rate. This is due to the increase in the number of retail stores. Consumers who are not comfortable shopping online tend to visit the store and pick up their meal kits in person rather than order through the internet. Furthermore, some consumers believe that online service providers cannot guarantee the quality of the product they are selling.
The product segment of the European meal kit market is segmented into vegetarian kits and non-vegetarian kits. The non-vegetarian kit category is leading the market share in 2021 and is expected to grow significantly during the forecast period. Compared with vegan meals, non-vegetarian meals are more popular among the general public in European countries. As numerous varieties of non-Vegan cuisines increase, consumer preferences are also changing by the rapid rise in their availability. Taking on various ethnic cuisines and trying out various recipes opens up a whole new market for meal kits, resulting in delicious meals being launched. The climatic conditions of the region also favor non-vegetarian meals' flourishing.
Germany meal kit market is expected to grow at a significant rate during the forecast period. The German market can be considered the home of meal kits because consumers prefer trying out new cuisines. The trend is reflected in the number of in-retail stores being opened and the online websites being started for the services. Furthermore, they have earned consumers' trust by providing quality service and being the largest meal kit provider in the country.
Spain meal kit market is predicted to grow at a steady rate, following Germany meal kit market during the forecast period. As a result of the recent increase in the number of new local start-ups within the country, the meal kit market in the country is experiencing growth. In addition to offering excellent services to their customers, these companies also offer discounts and coupons to those looking to try out new cuisines.
There was rapid growth in the meal kit market during the pandemic. As people were not allowed to step outside, the most convenient option was to get the meal kits delivered to their homes online. As a result of the rise in online deliveries, many companies in the region have started offering their customers all sorts of offers and precautions directly to their homes. These activities boosted the shares of the Europe meak kit market tremendously.
Key Players in the Market:
Major Key Players in the Europe Meal Kit Market are
Frequently Asked Questions
HelloFresh, Guosto and Blue Apron Inc.
Busy lifestyles and trying new cuisines in the form of a homemade meal.
The study period of the market is from 2022 to 2027.
Germany is leading the Europe meal kit market.
The market is predicted to grow at a rate of 8.15 % during the forecast period.
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