The Meal Kit Global Market Report 2023 by The Business Research Company, provides meal kit market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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In accordance with The Business Research Company’s esteemed Meal Kit Global Market Report of 2023, the expansive landscape of the global meal kit market is poised for substantial growth, projecting an increase from $13.6 billion in 2022 to an estimated $15.53 billion in 2023, demonstrating a commendable compound annual growth rate (CAGR) of 14.1%. However, the geopolitical turbulence brought about by the Russia-Ukraine war has cast a shadow over the anticipated global economic resurgence in the immediate aftermath of the COVID-19 pandemic. The ongoing conflict has triggered economic sanctions on various nations, precipitated a surge in commodity prices, and induced disruptions in supply chains. These cascading effects have propagated inflationary pressures across diverse sectors, significantly impacting markets worldwide. Despite these challenges, the meal kit market is poised to attain a notable ascent, with its market size projected to reach $28.69 billion by the year 2027, fueled by a robust CAGR of 16.6%.

The rising number of working professionals is contributing to the growth of the meal kit market. For instance, in August 2021, the U.S. Bureau of Labor Statistics reported a rise in total nonfarm payroll employment of 235,000 in August, and the unemployment rate declined by 0.2 percentage points to 8.4 million. Also, they reported that 74,000 job growth occurred in professional and business services; 53,000 in transportation and warehousing; 37,000 in manufacturing; and 37,000 in other services such as personal services, laundry services, and repair and maintenance services. Meal kits are convenient for busy working professionals who prefer to eat affordable, personalized, and ready-to-eat meals. The rising number of working professionals is driving the growth of meal kits market

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The meal kit market is segmented:
1) By Type: Fresh Food, Processed Food
2) By Category: Vegetarian, Non-Vegetarian
3) By Distribution Channel: Hypermarket/Supermarket, Convenience Store, Specialty Food Stores, Small Grocery Stores, Online Stores, Other Distribution Channels

A discernible trend within the meal kit industry is the prevalence of strategic partnerships and collaborations among major corporations. Recognizing the imperatives of sustaining market dominance in a fiercely competitive environment, industry leaders are forging alliances with start-ups and mid-sized enterprises. These strategic collaborations serve multifaceted purposes, encompassing the expansion of product portfolios, diversification of services, and the penetration of new geographical markets. A noteworthy illustration of this trend unfolded in December 2020 when Franklin Farms, a prominent provider of meatless culinary offerings, entered into a strategic partnership with Purple Carrot, a distinguished purveyor of plant-based meal kits. This alliance promises consumers the opportunity to relish delectable meatless creations featuring Franklin Farms' tofu within the comfort of their homes.

Similarly, the strategic landscape witnessed another milestone in July 2021 as Hello Fresh, an industry-leading meal kit company, announced a collaborative venture with Fenn Foods. This strategic partnership not only underscores Hello Fresh's commitment to expanding its vegan product line in Australia but also showcases its dedication to sustainability by incorporating Fenn Foods' carbon-neutral-certified, plant-based mince as a key ingredient in their innovative "Chilli Cin Carne" recipe. These instances underscore the industry's resilience and adaptability, navigating challenges through strategic collaborations to meet the evolving demands of the discerning consumer base.

The meal kit market report table of contents includes:
1. Executive Summary
2. Meal Kit Market Characteristics
3. Meal Kit Market Trends And Strategies
4. Meal Kit Market – Macro Economic Scenario
5. Meal Kit Market Size And Growth

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26. Africa Meal Kit Market
27. Meal Kit Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Meal Kit Market
29. Meal Kit Market Future Outlook and Potential Analysis
30. Appendix

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