If you’re wondering what the Freshly Market share is you’re in the right place. However, in the ever competitive meal kit industry the task of maintaining it, much less growing it will certainly be a challenge.
In case you missed it, the meal kit industry has grown by leaps and bounds over the past decade. In fact, the ability for consumers to have meals delivered straight to the door step has taken a significant chunk of the overall food industry market away from grocers and restaurants. But just how much has the meal kit market segment grown? The words leaps and bounds may be an understatement. In this post we’ll not only take a look at the Freshly market share within the industry, but the overall market share of the meal kit industry as a whole. Let’s see what we can find out.
Freshly Market Share vs. Meal Kit Industry Market Share
According to Technavio, an influential market research company, the meal kit industry held a market share of $11.3 billion in 2021. And in 2022 the industry is expected to grow to $13.5 billion according to the Business Research Company, another leading market research firm.
While it’s certainly hard to tell what the exact number is in terms of market share, we can get a decent idea by taking a look at this press released provided by Nestle after acquiring Freshly in 2020. At the time of the acquisition Freshly was expected to generate sales of $430 million. Given the growth rate of the industry as a whole we can estimate that the percentage of sales the company accounts for places the Freshly market share at 3% to 5%.
Freshly Market Share vs Blue Apron Market Share
It appears this one is neck and neck at the moment. Blue Apron once dominated the meal kit industry market before slowly losing market share as competitors such as Freshly emerged. According to Market Watch, Blue Apron registered around $470 million in sales in 2021, down from $881 million in 2017. Based on today’s estimated total market we can see that like Freshly, Blue Apron likely holds a market share of somewhere between 3% and 5%.
Freshly Market Share vs. Hello Fresh Market Share
Now we enter industry behemoth territory. Hello Fresh has set the market ablaze over the past few years increasing it sales from around $900 million in 2017 to nearly $6 billion in 2021. Safe to say the Freshly Market Share looks like chump change when compared to this meal kit titan. In fact, with an estimated total market of around $11.3 billion in 2021, we can see that Hello Fresh has gobbled up more than 50% of the total meal kit market.
Freshly Market Share vs. Home Chef Market Share
Like Freshly, Home Chef is a subsidiary of larger company. In fact you may have heard of its parent company. KROGER. With the backing of this grocery giant ,Home Chef has more than held its own within the industry and is said to have surpassed $1 billion in annual sales in 2021. Given the total market revenue estimate for the same year we can see that Home Chef has a market share of somewhere around 10% which is likely more than double that of the estimated Freshly market share.
Market Challenges & Other Competitors
To say the Meal Kit market has become competitive over the past few years is an understatement. Thus, Freshly certainly has its work cutout for it. However, with the recent release of its plant based line of meals, Freshly has shown it’s more than willing to dive into underserved market segments to remain an industry force in the years to come.
Unlike other health conscious meal services such as Sunbasket, Freshly is focused on delivering meals that come ready to eat with no preparation required on the part of the consumer. Therefore, consumer convenience is certainly a large aspect of the Freshly business model going forward.
Other competitors to the Freshly market share include Purple Carrot, Green Chef, and Every Plate.