The meal kit industry will continue to expand and grow healthily through 2023, but at rates more modest than previously expected, according to Packaged Facts. The research firm estimates the U.S. meal kit market had sales of $2.6 billion in 2017 and will grow almost 22 percent by the end of 2018 to reach $3.1 billion.
Packaged Facts predicts the market for subscription meal kit delivery services will mature rapidly as other methods of meal kit sales become available and even preferred by customers. These methods include one-time online orders from a meal kit website or app, online orders from a grocery store website or app, and in-store sales. Consequently, future growth in the market will require industry leaders to continue pivoting and adjusting their business models to retain customers and reach new clientele. In the long-term, as more traditional stores offer meal kits as a product rather than a service, look for the market to stabilize and become similar to other convenience grocery items that sell for a premium, such as pre-cut, ready-to-eat fresh produce.
Related: Online Grocery Shopping Gains Ground; Consumers Seek Coupons for Online Grocery Shopping and Meal Kits.
from Specialty Food News https://ift.tt/2TTWOHo
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