The meal kit industry has seen tremendous growth in recent years, with the global market expected to reach $19.92 billion by 2027 and grow at a CAGR of 12.8%. In 2020 alone, the US meal kit industry generated $4.65 billion in revenue and had an average price per serving of $9.97. Meal kits are popular among consumers between 26-45 years old who live primarily in urban areas; convenience is cited as one of their primary reasons for subscribing to these services while health concerns also play a role for many users.
HelloFresh was the leading company globally with 3.75 billion euros in revenue last year, followed closely by Blue Apron’s 486 million dollars earned within the same period – both companies based out of America where 11 million households subscribed to meal kits that year according to Hitwise data analysis firm . The online market share across Europe is highest in UK (55%), while Asia Pacific home meal replacement markets have been growing steadily since 2020 at 6% CAGR rate estimated till 2025 according Nielsen research report . Canada’s 2017 retail sales reached 120 million Canadian Dollars whereas offline sales were 154 Million USD during 2018 as reported by LA Times article which suggested potential customer churn rate more than 150% annually due high prices associated with subscription plans offered by various providers like Home Chef whose average order value was around 61 USD during 2020.. All this information will be further discussed below along with other relevant statistics about this rapidly expanding sector.
This statistic is a testament to the success of the meal kit industry in the US, highlighting the immense potential of the industry. It shows that the meal kit industry has grown significantly in the past year, and is likely to continue to grow in the future. This statistic is an important indicator of the health of the meal kit industry, and is essential for understanding the current state of the industry.
The average meal kit price per serving in the US is $9.97.
This statistic is a key indicator of the Meal Kit Industry’s success in the US, as it reveals the average cost of a meal kit per serving. It is an important factor to consider when discussing the industry’s overall performance, as it can provide insight into the affordability of meal kits and the potential for customer loyalty. Additionally, it can be used to compare the prices of meal kits to other meal options, such as takeout or grocery store meals, to determine the value of meal kits.
Meal Kit Industry Statistics Overview
Around 71% of meal kit users in the United States are between the ages of 26 and 45.
This statistic is a telling indication of the Meal Kit Industry’s target demographic. It reveals that the majority of meal kit users are within the 26-45 age range, indicating that this is the age group that the industry is most focused on. This information can be used to inform marketing strategies and product development decisions, as well as to better understand the needs and preferences of the Meal Kit Industry’s customer base.
Approximately 79% of US meal kit subscribers live in urban areas.
This statistic is a telling indication of the Meal Kit Industry’s success in urban areas. It shows that the industry has been able to capture a large portion of the urban population, which is a key demographic for the industry. This statistic is important for understanding the industry’s reach and potential for growth in the future.
In 2020, HelloFresh had a global revenue of approximately 3.75 billion euros.
This statistic is a testament to the success of HelloFresh in the meal kit industry. It demonstrates that the company has been able to capitalize on the growing demand for meal kits and has become a major player in the industry. This statistic is a clear indication that the meal kit industry is a lucrative and growing market, and HelloFresh is leading the way.
Blue Apron, an American meal kit company, had a revenue of $486 million in 2020.
This statistic is a testament to the success of the Meal Kit Industry, as Blue Apron’s revenue of $486 million in 2020 demonstrates the industry’s ability to thrive even in the face of a global pandemic. It is a clear indication that the Meal Kit Industry is here to stay and is continuing to grow.
Approximately 44% of meal kit users in 2020 opted for meal kits primarily for convenience.
This statistic is a telling indication of the importance of convenience in the meal kit industry. It shows that a large portion of meal kit users prioritize convenience when selecting their meal kits, suggesting that convenience is a major factor in the success of meal kit companies. This statistic is an important piece of information for anyone looking to gain insight into the meal kit industry and the preferences of its customers.
About 30% of meal kit users in the US cited health concerns as their reason for subscribing to meal kits.
This statistic is a telling indication of the importance of health in the meal kit industry. It shows that a significant portion of meal kit users are conscious of their health and are looking for ways to make healthier choices. This is an important factor to consider when discussing the meal kit industry, as it highlights the potential for meal kits to provide healthier options for consumers.
The average order value for Home Chef, a US meal kit company, was about $61 in 2020.
The average order value for Home Chef in 2020 serves as a benchmark for the meal kit industry, providing insight into the overall success of the sector. It is a key indicator of the industry’s financial health, as it reflects the amount of money customers are willing to spend on meal kits. This statistic is especially important for those looking to invest in the meal kit industry, as it provides a glimpse into the potential profitability of the sector.
The market value of online meal kits is estimated to reach about $14.3 billion by 2024 in the US.
This statistic is a testament to the immense potential of the meal kit industry in the US. It shows that the market value of online meal kits is expected to skyrocket in the coming years, indicating that the industry is on the brink of a major growth spurt. This is an important piece of information for anyone interested in the meal kit industry, as it provides a glimpse into the future of the industry and the opportunities it presents.
Around 54% of US meal kit subscribers have a household income of over $75,000.
This statistic is indicative of the fact that the meal kit industry is largely catering to a higher-income demographic. This is important to note when discussing the meal kit industry, as it provides insight into the type of customer the industry is targeting and the type of customer that is likely to be most interested in meal kit services.
As of June 2018, around 29% of American non-meal-kit-users considered using meal kits in the future.
This statistic is a telling indication of the potential growth of the meal kit industry. It suggests that a significant portion of the population is open to the idea of using meal kits, and that the industry could see a surge in customers in the near future. This is an important statistic to consider when discussing the meal kit industry, as it provides insight into the potential success of the industry.
The online meal kit market share in Europe is highest in the United Kingdom, with a share of 55%.
This statistic is a telling indication of the Meal Kit industry’s success in the United Kingdom. It demonstrates that the UK is a major player in the European market, and that the Meal Kit industry is thriving in the region. This is an important piece of information for anyone looking to gain insight into the Meal Kit industry’s performance in Europe.
Home meal replacement market in Asia-Pacific is expected to grow at a CAGR of more than 6% from 2020 to 2025.
This statistic is a key indicator of the potential for growth in the meal kit industry in the Asia-Pacific region. With a projected CAGR of 6%, it suggests that the market for home meal replacements is likely to expand significantly over the next five years. This could be a great opportunity for businesses in the meal kit industry to capitalize on the growing demand for convenient, healthy meals.
In Canada, the meal kit market value was around 120 million Canadian dollars in 2017.
This statistic is a telling indication of the growth of the meal kit industry in Canada. It shows that the market value of meal kits has increased significantly in the past few years, indicating that more and more Canadians are turning to meal kits as a convenient and cost-effective way to prepare meals. This statistic is an important piece of information for anyone interested in the meal kit industry, as it provides insight into the current state of the industry and its potential for future growth.
Approximately 59% of former US meal kit users cited price as the reason for discontinuing their meal kit subscription.
This statistic is a telling indication of the importance of price in the meal kit industry. It shows that the majority of former users found the cost of meal kits to be a major factor in their decision to discontinue their subscription. This is an important insight for anyone looking to understand the meal kit industry, as it highlights the need for companies to be mindful of pricing when marketing their services.
In the US, the offline meal kit sales reached $154 million at retail stores in 2018.
This statistic is a testament to the growing popularity of meal kits in the US. It shows that more and more people are turning to meal kits as a convenient and cost-effective way to prepare meals at home. This statistic is an important indicator of the success of the meal kit industry and provides valuable insight into the current state of the market.
Conclusion
The meal kit industry is a rapidly growing market, with the global market expected to reach $19.92 billion by 2027 and grow at a CAGR of 12.8%. In 2020, the US meal kit industry generated $4.65 billion in revenue and had an average price per serving of $9.97. Meal kits are popular among people aged 26-45 years old living in urban areas who opt for convenience or health concerns when subscribing to these services; HelloFresh had 3.75 billion euros in global revenue while Blue Apron’s was 486 million dollars that same year. The online meal kit market value is estimated to reach 14$3 billion by 2024 in the US alone, where 11 million households subscribed to such services last year; 54% have incomes over 75K USD annually and 44% opted primarily for convenience reasons when choosing their subscription service provider – although 30% cited health as their main reason for doing so – but 59% discontinued due to pricing issues after some time using them..
References
0. – https://www.ibisworld.com
1. – https://www.packagedfacts.com
2. – https://www.condorferries.co.uk
3. – https://www.mordorintelligence.com
4. – https://www.nielsen.com
5. – https://www.statista.com
