REDDING, Calif., Dec. 4, 2024 /PRNewswire/ -- According to a new market research report titled, 'Food Subscription Services Market [https://www.meticulousresearch.com/product/food-subscription-services-market-6094?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=-12-2024] Size, Share, Forecast, & Trends Analysis by Subscription Types (Curation, Access, Replenishment Subscription), Nature (Vegetarian), Price Range (Premium, Mid-Range), Distribution Channel (Online)- Global Forecast to 2031,' the Food Subscription Services market is expected to reach $12.75 billion by 2031, at a CAGR of 8.6% from 2024 to 2031.
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The food subscription services market is experiencing growth, primarily driven by rising consumer preferences for convenience, cost-effective food purchasing, and doorstep food delivery, along with an increasing demand for healthy meals. However, complex regulatory requirements for food subscription services and the high costs associated with these services restrain the market's growth.
Furthermore, the growing demand for personalized culinary experiences and the consumer shift toward the daily purchase of fresh food ingredients are expected to create growth opportunities for stakeholders in this market. Additionally, the rising consumer preference for healthy, nutrient-rich meals is a prominent trend in the food subscription services market.
Food Subscription Services Industry Overview: Latest Developments from Key Industry Players
-- In December 2023, Blue Apron, LLC (U.S.) expanded its ready-to-eat
category by launching Prepared & Ready meals.
-- In October 2023, Wonder Group (U.K.) acquired Blue Apron to enter the
food subscription services market.
-- In January 2023, Chef Sung (U.S.) introduced an Asian meal kit for food
subscription services
-- In December 2022, Intelligent Foods (UAE) acquired Gobble (U.S.), a
15-minute meal kit service, to expand into the food subscription
services market.
-- In March 2022, SPATULA Foods Inc. (U.S.) raised USD 1.5 million to
launch a first-of-its-kind subscription service (Toronto) to deliver
meals developed by local chefs that are flash frozen - and ready in 10
minutes - to consumer's doorsteps starting at under $12 a plate.
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Key Players:
Some of the major players profiled in this report are HelloFresh SE (Germany), Blue Apron Holdings, Inc (U.S.), Sunbasket, Inc (U.S.), Marley Spoon SE (Germany), Freshly, Inc (U.S.), Gousto Ltd (U.K.), Mindful Chef Ltd (U.K.), Hungryroot (U.S.), Relish Labs LLC (U.S.), Purple Carrot (U.S.), Fresh n'Lean (U.S.), Trifecta, Inc (U.S.), Sakara Life, Inc (U.S.), Imperfect Foods, Inc (U.S.), CureFoods (India)
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The food subscription services market is segmented by subscription type (replenishment subscription, curation subscription, access subscription, and others), nature (non-vegetarian, vegetarian), price range (mid-range, premium, low-range), distribution channel (online, offline), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Key Findings in the Food Subscription Services Market Study:
By subscription type, the replenishment subscription segment is poised to record the highest CAGR during the forecast period of 2024-2031. The increasing consumer demand for cost-effective subscriptions, a shift toward fresh produce, and the daily requirement for essential food items are driving the growth of this segment.
By nature, the vegetarian segment is slated to record the highest CAGR during the forecast period of 2024-2031. The growth of this segment is driven by health and environmental considerations, the increasing popularity of cruelty-free diets, and rising consumer preferences for fresh foods.
By price range, the mid-range segment is poised to record the highest CAGR during the forecast period of 2024-2031. The increasing demand for budget-friendly food options, consumers' desire for quality, easily accessible food & beverages, and the availability of customization options in food subscription services are anticipated to drive the growth of this segment during the forecast period.
By distribution channel, the online segment is anticipated to record the highest CAGR during the forecast period of 2024-2031. The increasing demand for quick access to affordable food, the proliferation of online channels offering food subscription services, rising disposable incomes, and changing consumer lifestyles are expected to drive the growth of this segment during the forecast period.
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By geography, Asia-Pacific is poised to record the highest CAGR during the forecast period 2024-2031. The growing e-commerce sector, changing dietary habits, population growth, increasing interest in traditional cuisines, and rising urbanization are expected to drive the growth of this regional market during the forecast period.
Scope of the Report:
Food Subscription Services Market Assessment--by Type
-- Replenishment Subscription
-- Curation Subscription
-- Access Subscription
-- Others
Food Subscription Services Market Assessment--by Nature
-- Non-vegetarian
-- Vegetarian
Food Subscription Services Market Assessment--by Price Range
-- Mid-range
-- Premium
-- Low-range
Food Subscription Services Market Assessment--by Distribution Channel
-- Online
-- Offline
Food Subscription Services Market Assessment--by Geography
-- North America
-- U.S.
-- Canada
-- Europe
-- Germany
-- France
-- U.K.
-- Italy
-- Spain
-- Russia
-- Rest of Europe
-- Asia-Pacific
-- China
-- India
-- Japan
-- Australia
-- South Korea
-- Indonesia
-- New Zealand
-- Rest of Asia-Pacific
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Rest of Latin America
-- Middle East & Africa
-- Saudi Arabia
-- United Arab Emirates
-- South Africa
-- Rest of Middle East & Africa
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Food Subscription Services Market Research Summary
Particulars Details Number of 210 Pages Format PDF Forecast 2024-2031 Period Base Year 2024 CAGR 8.6 % Market Size USD 7.15 Billion in 2024 Market Size USD 12.75 Billion in 2031 Segments By Subscription Types Covered Replenishment Subscription Curation Subscription Access Subscription Others By Nature Non-vegetarian Vegetarian By Price Range Mid-range Premium Low-Range By Distribution Channel Online Offline Countries North America (U.S., Canada), Europe (Germany, U.K., Spain, Italy, Covered France, Russia, and Rest of Europe), Asia-Pacific , Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa) Key HelloFresh SE (Germany), Blue Apron Holdings, Inc (U.S.), Sunbasket, Inc Companies (U.S.), Marley Spoon SE (Germany), Freshly, Inc (U.S.), Gousto Ltd (U.K.), Mindful Chef Ltd (U.K.), Hungryroot (U.S.), Relish Labs LLC (U.S.), Purple Carrot (U.S.), Fresh n'Lean (U.S.), Trifecta, Inc (U.S.), Sakara Life, Inc (U.S.), Imperfect Foods, Inc (U.S.), CureFoods (India)
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