HelloFresh Surpasses Blue Apron as the United States' Biggest Meal Kit Company
NEW YORK, NY - Just this month, the meal kit market has seen a flurry of activity as big-name rivals Blue Apron and HelloFresh vied for the number one spot. In an effort to return to its former glory, Blue Apron launched its meal kits in grocery stores as a new strategy to boost sales and shares. And, not one to be left behind, HelloFresh hit back last week by acquiring Boulder-based, organic-savvy Green Chef, and has since taken the lead as a result.
According to a report by Recode, HelloFresh has nabbed the top spot in the $5 billion American meal-kit market and, combined with Green Chef, now controls 36 percent of the market. Blue Apron on the other hand, saw its shares decline to 35 percent last month despite its push to rejuvenate its brand.
In 2017, Blue Apron controlled the market by 48 percent, with HelloFresh only at 24 percent. While HelloFresh steadily bolstered its company shares last year, Blue Apron’s started a downward spiral. Last year alone, HelloFresh grew its U.S. revenue 90 percent to $678 million, while Blue Apron’s only rose 11 percent to $881 million, with the overall U.S. meal kit market increasing its sales by 40.7 percent.
Recode also notes that due to Blue Apron’s warehouse and customer retention struggles, even if HelloFresh had not added Green Chef to its arsenal, the Berlin-based company still would have surpassed Blue Apron.
Will HelloFresh keep its spot as number one or will Blue Apron finally revive its name and have the numbers return to its side? AndNowUKnow will continue to report as the story unfolds.
