TORONTO — HelloFresh Canada says the company expects to own 60-per-cent market share in Canada in 2019 and confirmed a $200-million revenue projection next year.
The announcement follows the dual-brand meal-kit leader’s acquisition of Chefs Plate last month. According to a 2018 study by The NPD Group, “the meal-kit business is among the fastest-growing food segments in the Canadian marketplace.”
“We’re happy to announce a significant price drop for our Chefs Plate meal kits, which will make our kits more accessible for Canadians. Prices will start as low as $8.99/serving as of early December,” says Jamie Shea, CEO of Chefs Plate. “By lowering the cost, we open up meal kits to Canadians who might have seen price as a barrier, while continuing to increase the value of our product and long-term customer satisfaction.”
With more Canadians replacing traditional meal options with meal kits, HelloFresh Canada is optimistic it can capitalize on the growing trend. 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 a grocery store.
“Looking into [2019], we’re 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,” says Ian Brooks CEO and founder of HelloFresh Canada. “The 2019 projections on revenue and market share only reinforce the market data that’s been released on meal kits.”
