Due to the worldwide closure of almost all restaurants, hotels, and eateries due to the COVID-19 pandemic, the market for meal kit delivery services has seen tremendous growth. More people than ever are looking for healthy and convenient meal options as a result of the increased focus on a healthy diet among people who want to boost their immunity and maintain a balanced diet. In addition, major market players noticed an increase in sales during the pandemic compared to 2019. Companies like HelloFresh, which doubled its customer base in the U.S. and saw a 66% increase in its year-over-year revenue, followed companies like Blue Apron in reporting an increase in global sales.
Consumer interest in the heat-and-eat market has been growing in the United States as a result of several delivery services launching single and multiple servings for customers. For instance, eating at home is less expensive than dining out. Additionally, compared to takeout and home delivery services, homemade meals now save more time thanks to the product’s accessibility. Home cooking also gives one complete control over the ingredients they wish to use, which is beneficial for those who have food allergies or are attempting to avoid certain ingredients.
In an April 2020 HUNTER survey, 54% of American consumers said they cook more frequently than they did previously, and 22% said they order prepared meal kits more frequently. More people are choosing to eat at home rather than out. Both millennials and baby boomers are choosing more frequently to order in or stay in while saving money on dining out. Additionally, consumers are dining out less frequently and preferring to stay home. The attitudes and behaviours of the two largest generational groups—baby boomers and millennials—are among the important factors causing this shift.
The economic structure of the food delivery ecosystem is still changing as it grows. Which stakeholders succeed or fail as the industry grows will depend on factors like brand, real estate, operational efficiency, breadth of offerings, and shifting consumer habits. The restructuring will take into account potential regulatory restrictions, including potential modifications to how drivers are compensated. Furthermore, despite the industry’s rapid expansion during the global pandemic, most delivery platforms have continued to be unprofitable. According to Christopher Payne, chief operating officer of DoorDash, “This is a cost-intensive, scale-driven business with low margins.
Global Ready-to-eat Food Delivery Service Market: Major Players
The Good Kitchen
Wiltshire Farm Foods
Global Ready-to-eat Food Delivery Service Market: Types
Customized Meal Delivery Services
Restaurant Delivery Services
Global Ready-to-eat Food Delivery Service Market: Applications
Ready-to-eat delivery service for food With strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a comprehensive overview of the market situations in the forecast period, market research reports provide a close watch on leading competitors. It is an expertly written, in-depth report that emphasises primary and secondary drivers, market share, top segments, and geographic analysis. The report also examines key players, significant partnerships, mergers, and acquisitions, as well as popular innovations and business practises.
The market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa based on region (MEA). The North American continent is further divided into nations like the United States and Canada. Europe is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific make up the subregion of Asia Pacific. The MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA. The Latin America region is further divided into Brazil, Mexico, and Rest of Latin America.