According to a recent study from IndustryARC, the Meal kits market is forecast to reach $8.73 billion by 2024 and is estimated to grow at a CAGR of 17.1%. The growth in the Meal kits market can be attributed to the commencement of innovating packaging, various order tracking system, and quick and easy delivery of home cooked food.

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The Meal kits market is all set to exhibit robust development with the rise in subscriptions for meal kits, especially in the western countries. On-time delivery, access to a vast choice of food, home cooked and ready to eat food are the major reasons for an increase in the demand for meal kits. Furthermore, it saves the time required for meal preparation and shopping for food ingredients. Due to the introduction of innovative packaging, it became convenient for meal kits providers to deliver food without ruining its taste or texture. Other than, selling in stores, various meal kit companies have launched their own website or app to capture the major share of the Oven Ready Market.

North America is the largest market for Meal Kits globally with a revenue of $xx billion in 2017. In North America, the demand for Meal Kits has grown tremendously especially among the working class. Meal kits market has already become a fast-growing billion-dollar business even though it set foot in the U.S. approximately a little more than five years ago. North American meal kit market is highly dynamic and prone to fluctuations due to advancements in online fresh grocery shopping. People are finding online grocery shopping more convenient these days in comparison to buying meal kits. However, due to the availability of a large variety of meal choices and a highly competitive price, Oven Ready Market is still going to increase during the forecast period.

The Major Players in this Market Include:

Blue Apron, LLC

Just Add Cooking

HelloFresh

Marley Spoon Inc.

Relish Labs LLC. (Home Chef)

Gobble

Meal kits manufacturers have introduced subscription plans, enhanced menus, better packaging, and customized meal kits to gain a foothold in the emerging markets. These meal kits providers also enhance core competencies through additions to the product portfolio as well as providing cancellation facility.

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