The meal prep companies sector is like a huge pot of chili; it’s substantial, robust, and continually expanding. For example, a recent analysis estimates that the meal kit delivery services market would increase at a CAGR of 7.2% from 2020 to 2028, from a market value of USD 10.19 billion to USD 18.19 billion.
But what is fueling this growth? The growing emphasis on wholesome eating is one factor. As more people become health-conscious, meal prep businesses can provide a practical answer for those trying to eat better.
The convenience element is another cause for the industry’s expansion. People are searching for methods to make their lives easier due to their demanding schedules and busy lifestyles. For people who want to eat correctly but lack the energy or time to cook, meal prep businesses provide a solution.
However, everyone in the industry benefits, not just the major companies. Due to the rise of social media, smaller meal prep businesses are also expanding. Small companies may now reach a larger audience and promote their food more efficiently, thanks to platforms like Instagram and Facebook.
The food preparation sector is expanding as virtual, and ghost kitchen concepts are gaining popularity. For example, a commercial kitchen that solely offers meal delivery services is often referred to as a virtual kitchen, cloud kitchen, or dark kitchen, and a commercial kitchen that only provides food delivery services and no dine-in choices as a ghost kitchen. This lowers overhead costs while enabling meal prep businesses to reach a broader consumer base.
The market is anticipated to grow to USD 18.19 billion by 2028, driven by the emphasis on healthy eating, convenience, and the emergence of virtual and ghost kitchens. However, this expansion is restricted to the major players in the market and the small and medium-sized meal prep businesses that can promote their products on social media.