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Pet Meal Kit Delivery Services Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global pet meal kit delivery services market was valued at USD 7 billion in 2022 and is expected to register a CAGR of 20.3% from 2023 to 2030. The rising demand for pet meal kit delivery services is attributed to the growing pet population and increasing awareness about pet health and nutrition. Pet owners are becoming increasingly aware of the health benefits associated with pet meal kit delivery services, such as fresh and healthy ingredients, customized meal plans, and convenient delivery. Additionally, the rise in the preference for online shopping and the emergence of new delivery services are key factors driving the market.
Moreover, the increasing demand for premium pet food products is propelling the market growth. The growing awareness about pet nutrition and the rising disposable income are the key drivers behind the growing demand for premium pet food. Furthermore, the rising trend of pet humanization is expected to bolster the market growth. Pet owners are increasingly treating their pets as family members and are focusing on providing them with premium nutrition. Hence, pet owners are focusing on providing their pets with premium nutrition, and this is expected to drive the demand for pet meal kit delivery services.
In addition, the increasing number of pet centric events such as pet festivals and pet shows are creating a huge demand for pet food products and meal delivery services. Pet owners are increasingly attending these events to purchase products for their pets, such as pet food, treats, and toys. Additionally, pet owners are also seeking services such as pet meal kit delivery services to provide healthy and fresh meals for their pets. This is expected to drive the demand for pet meal kit delivery services in the coming years.
Furthermore, the increasing popularity of subscription-based models for pet meal kit delivery services is also driving the market growth. The subscription-based model helps pet owners to save time by subscribing to the services in advance. Additionally, the model helps pet owners to save money as they can avail discounts on the services. Furthermore, the subscription-based model also helps pet owners to access a variety of meal plans for their pets. This is expected to fuel the demand for pet meal kit delivery services in the coming years.
Product Insights
The pet meal kit delivery services segment accounted for the largest market share in 2022. Increasing demand for pet meal kits from pet owners, who are keen to offer their pets with healthier and more nutritious meals, is driving the growth of the market. According to an article published by The Wall Street Journal, in February 2021, pet meal kit delivery services are becoming increasingly popular due to the convenience and convenience factors they offer. Furthermore, pet owners are willing to spend more money on premium pet meal kits. This is likely to boost the growth of the pet meal kit delivery services segment over the forecast period.
The pet treats segment is expected to expand at the fastest CAGR of 9.3% over the forecast period. Pet owners are increasingly opting for healthy treats for their pets and are willing to spend a significant amount of money on them. According to an article published by the American Pet Products Association, in April 2021, over 57% of pet owners said they were willing to spend more on pet treats. Moreover, pet treats are becoming increasingly popular as pet owners strive to keep their pets healthy and active. This is likely to drive the demand for pet treats over the forecast period.
Distribution Channel Insights
The online segment is expected to dominate the global pet meal kit delivery services market in 2022, capturing a share of more than 70%. The growth of the segment is mainly attributed to the rising trend of e-commerce and the availability of a wide range of pet meal kit delivery services on the internet. The increasing penetration of internet in developing countries has also propelled the growth of the online segment.
The retail stores segment is expected to expand at the highest CAGR of 16.5% over the forecast period. The growth of the segment is mainly driven by the rising demand for pet food products from retail stores such as pet stores, supermarkets, and hypermarkets. The increasing number of pet stores in various countries is also expected to boost the growth of the segment. For instance, in 2020, Petco Animal Supplies Inc. opened 15 stores in the US.
Type Insights
The DIY pet meal kit segment accounted for the largest revenue share of 59.7% in the year 2022. The increasing trend of home-cooked pet meals is driving the demand for DIY meal kits. The meal kits include ingredients, spices, and sauces that are pre-measured and pre-portioned to prepare homemade pet meals. Furthermore, the increasing demand for natural and organic pet food has also propelled the demand for DIY pet meal kits. For instance, in April 2022, Pet Plate, a U.S.-based pet food company, launched a new product line of DIY pet meal kits that are made with fresh, human-grade ingredients.
The subscription pet meal kit segment is anticipated to expand at the highest CAGR of 11.2% over the forecast period. The increasing trend of subscription services among pet owners is driving the demand for pet meal kits. The subscription meal kits are convenient for pet owners as they provide pre-portioned and pre-measured ingredients to prepare pet meals. Furthermore, the increasing number of pet food companies offering subscription services is propelling the segment growth. For instance, in April 2022, PetPlate, a U.S.-based pet food company, launched a subscription meal kit service that delivers fresh, ready-to-cook pet meals to pet owners.
Regional Insights
The North American region is expected to lead the market on account of the presence of the majority of key players in the region. The preference for convenience and the rising trend of pet meal kits among the pet owners in the region is expected to drive the market growth in the coming years. Moreover, the growing demand for customized and subscription-based pet meal kits is further expected to propel the market growth. For instance, in April 2021, The Farmer’s Dog launched its subscription-based pet meal kit service in the U.S.
The Asia Pacific region is expected to witness the fastest growth in the coming years on account of the increasing number of pet owners in the region. The rising preference for pet meal kits among pet owners due to their convenience and affordability is expected to drive the market growth in the region. In addition to this, the rising trend of pet humanization is further expected to propel the market growth in the coming years. For instance, in April 2021, Petplate, a pet meal kit delivery service, launched its services in Australia.
Financial Projections
In this part of the pet meal kit delivery services business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your pet meal kit delivery services. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a pet meal kit delivery services business comes from subscription fees, delivery fees, and retail sales. Here you will find a list with a description of each of them and other possible sources of profit such as donations, referral programs, and discounts.
Projecting Expenses
In this section, all the regular expenses related to keeping the pet meal kit delivery services business running will be described. The list of operating expenses includes ingredients for the meals, packaging materials, delivery services, wages, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the pet meal kit delivery services market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Pet Plate launched a new range of meal kits that are tailored to the nutritional needs of senior dogs.
– In October 2022, The Farmer’s Dog launched a new subscription-based pet meal delivery service that delivers fresh, pre-portioned meals directly to customers.
– In October 2022, NomNomNow launched a new line of pet meal kits for cats and dogs that are customized to the specific dietary needs of each pet.
Some of the prominent players in the pet meal kit delivery services market include:
– Pet Plate
– The Farmer’s Dog
– NomNomNow
– Pet Chef Express
– Pet Wants
– The Pet Gourmet
– Pet Supper
– The Happy Pet Kitchen
– Ollie
– K9 Cuisine
Global Pet Meal Kit Delivery Services Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global pet meal kit delivery services market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Dog Meals
– Cat Meals
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Subscription
– One-time Purchase
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Pet Meal Kit Delivery Services Market?
[A]: The pet meal kit delivery services market is driven by factors such as the rising pet population, rising disposable incomes, and increasing demand for convenient and nutritional pet meals. Moreover, the growing trend of pet-friendly restaurants, pet nutrition awareness, and pet meal customization are also driving the market.
[Q]: Who are the Key Players in the Pet Meal Kit Delivery Services Market?
[A]: The key players in the pet meal kit delivery services market are Nom Nom, Ollie, The Farmer’s Dog, Pet Plate, and Just Right by Purina.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to be a major driving factor for the market as manufacturers are continuously introducing new and innovative products. The introduction of new flavors, types, and ingredients in pet meal kits is expected to drive the market growth.
[Q]: What is the Potential of Online and Mobile Platforms?
[A]: The rising trend of pet owners ordering pet meal kits through online and mobile platforms is expected to drive the market growth. Increasing internet and smartphone penetration, coupled with the availability of pet meal kits on these platforms, are expected to drive the pet meal kit delivery services market.
[Q]: What Region Offers the Largest Opportunity for Sales of Pet Meal Kit Delivery Services?
[A]: The Asia-Pacific region is expected to be the largest consumer of pet meal kit delivery services due to the rising number of pet owners, increasing awareness of pet nutrition, and rising disposable incomes.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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