Meal Kit Market Size

Meal Kit Market size in terms of transaction was valued at USD 14.4 billion in 2022 and is anticipated to register a CAGR of over 12.7% between 2023 and 2032. hanging consumer preferences for convenient yet home-cooked meals have driven the industry's expansion.

Meal kits offer a unique solution by providing pre-portioned ingredients and easy-to-follow recipes, saving time on meal planning and grocery shopping. Moreover, the COVID-19 pandemic accelerated the market's growth, as people sought safe and reliable alternatives to dining out. This period also witnessed increased interest in cooking and experimenting with new recipes, which meal kits cater to. Additionally, companies have adapted by offering various dietary options, catering to different cuisines, and enhancing sustainability efforts, which further broadens their appeal.

The primary obstacles for the market is cost, as meal kits tend to be more expensive than traditional grocery shopping, which can deter some potential customers. Furthermore, sustainability concerns exist, with the industry generating a significant amount of packaging waste, particularly in terms of individual ingredients being pre-packaged. Meal kit companies are actively working to address this issue through more eco-friendly packaging options, but it remains a concern.