Meal Kit Providers Pivot Focus, Expand Services in $3 Billion Market
As more traditional stores offer meal kits as a product rather than as a service, the market will stabilize and become like other convenience grocery items that sell for a premium
When meal kit delivery services first emerged in Sweden back in 2007, the premise seemed simple enough: offer busy customers the chance to save a lot of time, have access to a wide variety of food choices, eat healthily, improve their cooking skills, and limit the amount of food waste. In the decade since, meal kits have largely delivered on their profitable potential as companies emerged to bring easy to prepare meals to doorsteps around the world, including expansion into several more European nations (Germany, Austria, the Netherlands, Belgium, and the United Kingdom) and at least three more continents (Asia, Australia, and North America).
Shortly after reaching America more than five years ago, market research firm Packaged Facts estimated meal kits had become a fast growing billion-dollar business in the U.S. Since then, time has tempered both growth and expectations for meal kits though the future remains...Full Story »Nov 30 9:07 AM, General News