Investment Portfolio
Who are Groganic?
The Food Market Opportunity
The global meal kit delivery services market is expected to grow at a compound annual growth rate of 15.3% from 2023 to 2030 to reach USD 64.27 billion by 2030. The single service kits captured the largest share of more than 57% in 2022 in the meal kit delivery services market. The online platform accounted for the largest share of more than 63% in 2022, in the global meal kit delivery services market. North America held the largest share of 46.01% in the meal kit delivery services market in 2022. A large number of consumers purchase these kits in the region to save their time and effort.The meal kit delivery services market in the U.K. was valued at USD 896.0 million in 2022 and is expected to grow at a CAGR of nearly 15.9% during the forecast period to reach a market valuation of nearly USD 3 billion by 2030.
The market is experiencing significant growth due to rising demand for both homemade and chef-prepared meals, particularly among millennials. The surge in popularity of meal kit delivery services, particularly among Generation Y and Z, can be attributed to the cost-effectiveness of homemade meals compared to takeout and traditional delivery options. The COVID-19 pandemic has further accelerated this trend as restaurant closures prompted individuals to prioritize healthier eating habits, boosting the demand for convenient and nutritious meal solutions.
How Ventucap Help