Analyst Opinion
Meal Kit Delivery has become a popular trend in the food industry in recent years, providing customers with a convenient and time-saving solution for meal preparation. In the United Kingdom, the Meal Kit Delivery market has experienced significant growth, with several factors driving this trend. Customer preferences:
Trends in the market:
The Meal Kit Delivery market in the United Kingdom has seen a rise in competition, with several new players entering the market. This has led to increased innovation and differentiation in meal options, as companies seek to stand out from their competitors. Additionally, many Meal Kit Delivery services have expanded their offerings to include ready-to-eat meals, catering to customers who are looking for even more convenience.Local special circ*mstances:
One trend unique to the United Kingdom is the rise of Meal Kit Delivery services offering locally-sourced ingredients. This trend is driven by a growing interest in sustainable and environmentally-friendly food options, as well as a desire to support local farmers and producers. Many Meal Kit Delivery services in the United Kingdom have responded to this trend by partnering with local suppliers to source their ingredients.Underlying macroeconomic factors:
The Meal Kit Delivery market in the United Kingdom has been impacted by several macroeconomic factors. One of the most significant factors is the rise of e-commerce, which has made it easier for customers to order Meal Kits online. Additionally, the COVID-19 pandemic has led to an increase in demand for Meal Kit Delivery services, as more customers are looking for ways to avoid crowded grocery stores and minimize their time spent outside of the home. Finally, the United Kingdom's exit from the European Union has led to some uncertainty in the food industry, with some Meal Kit Delivery services experiencing supply chain disruptions.Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.
Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.
Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
