![]() meal kit market surged by 69.3% year-over-year to reach $5.8 billion in 2020. According to Coresight Research, the U.S. In the early days of the pandemic, HelloFresh and other home cooking solutions saw explosive growth. customers in the fourth quarter of 2021 the company’s U.S. HelloFresh delivered more than 111 million meals to 3.5 million U.S. remained the company’s biggest market as of 2021. HelloFresh is currently growing its international presence, including in Italy and Japan, and reached 3.7 million customers. The figure reflects the increased operating costs as the company invests in tech infrastructure and fulfillment. The company’s adjusted EBITDA dropped to $145.50 million, down from $193.33 million in 2020. Still, HelloFresh’s dominance comes at a cost. According to the company, 2021 revenue hit $1.77 billion from $1.23 billion in the fourth quarter of 2020. On Tuesday, HelloFresh reported its full 2021 earnings, which resulted in lower-than-expected sales following a strong 2020. However, recent data indicates that the category’s leaders are still seeing gains as they improve margins. The pandemic gave many meal kit brands a much-needed boost, which industry analysts thought the growth would taper off. “We delivered very meaningful growth across both segments, despite a tough benchmark, given that 2020 was an unprecedented year of lockdowns.” ![]() “2021 has been another year of successful growth and expansion for HelloFresh,” said co-founder and CEO Dominik Richter in a release statement. ![]()
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