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HelloFresh projects 60 percent meal-kit market share in Canada

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 percent market share in Canada in 2019. The company also confirmed a revenue projection of $200 million for next year.hellof

"We're also 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," said Chefs Plate Chief Executive Officer Jamie Shea. "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."

"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," said HelloFresh Canada CEO and Founder Ian Brooks. "The 2019 projections on revenue and market share only reinforce the market data that's been released on 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."

More and more, Canadians are replacing traditional meal options with meal-kits. NPD also revealed that prior to meal-kits, "47 percent of users would have prepared food at home, 31 percent of users would have purchased food from a restaurant and 18 percent would have purchased a ready-made meal at the grocery store."

"We are proud to be the Canadian market leader in meal-kits, and to be changing the way Canadians eat," said Brooks.