After its recent acquisition of Canadian meal kit service Chefs Plate, HelloFresh Canada expects to own 60 percent of the meal kit market in the country next year.
Hello Fresh Canada, a division of Berlin, Germany-based HelloFresh, projects its revenues to reach CAD 200 million (USD 151 million, EUR 133 million) in 2019, thanks to the acquisition and increasing consumer demand.
The meal kit business in Canada is among the fastest-growing food segments in the country, according to a NPD Group study.
"Looking into the new year, we're very excited about the growth to come for the HelloFresh and Chefs Plate family, as well as for the meal-kit industry in Canada more broadly," HelloFresh Canada CEO and Founder Ian Brooks said in a statement.
HelloFresh Canada includes seafood meals such as Garlicky Shrimp with Roast Potatoes and Walnut Parsley Pesto in its repertoire, while Chefs Plate features recipes such as Shrimp Tacos.
Chefs Plate’s kits will soon have a “significant” price drop, “which will make our kits more accessible for Canadians,” Chefs Plate CEO Jamie Shea said. By early December, prices will be as low as CAD 8.99 (USD 6.78, EUR 5.98) per serving.
"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," Shea said.
Meanwhile, Blue Apron is temporarily halting its pilot meal kit program in Costco’s United States stores for the holiday season. Costco needs to make room on its shelves for other holiday items, Blue Apron said in its recent earnings call.
However, the meal kit provider, which is in the mist of restructuring amidst faltering sales, plans to resume sales to Costco as well as new retailers in 2019.
Photo courtesy of HelloFresh Canada
