Now Guess Who's Getting Into Meal-Kit Delivery?
As if Blue Apron (NYSE: APRN) didn't have enough worries, now it has to contend with a new kind of competition: beverage makers entering the meal-kit delivery market. Coca-Cola (NYSE: KO) and Anheuser-Busch InBev (NYSE: BUD) won't be making food deliveries themselves, but they're partnering with other meal-kit services. And while that can only make it harder for Blue Apron to maintain its leadership position, it's also pointing to the direction the market is heading.
Meal kits are currently a $2.2 billion industry that USA Today says is expected to grow 25% to 30% over the next five years, citing data from food-industry consulting firm Pentallect. Others estimate fresh-food subscription services could grow by a factor of 10 over the next five years in just the U.S. alone, with global revenues exceeding $10 billion by 2020.
Image source: Getty Images.
Source: Fool.com
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