Following its recent acquisition of Canadian meal-kit service Chefs Plate, HelloFresh Canada has announced that the new dual-brand meal-kit leader expects to own 60 per cent market share in Canada in 2019. The company also confirmed a revenue projection of $200 million for next year.
Chefs Plate CEO Jamie Shea said Chefs Plate meal-kits are now significantly cheaper, with prices starting as low as $8.99 per serving, which will make the meal kits more accessible for Canadians. “By lowering cost, we open up meal-kits to Canadians who might’ve seen price as a barrier while continuing to increase the value of our product and long term customer satisfaction,” said Shea.
Ian Brooks, HelloFresh CEO and founder said HelloFresh and Chefs Plate are “very excited about the growth to come for the HelloFresh and Chefs Plate family, as well as for the meal-kit industry in Canadamore broadly.”
More and more, Canadians are replacing traditional meal options with meal-kits. According to a 2018 study by The NPD Group, “the meal-kit business is among the fastest-growing food segments in the Canadian marketplace.”
NPD also revealed that prior to meal-kits, 47 per cent of users would have prepared food at home, 31 per cent of users would have purchased food from a restaurant and 18 per cent would have purchased a ready-made meal at the grocery store.