Fresheasy absorbs diet therapy company to grow big in domestic meal kit market

[Courtesy of Fresheasy]

SEOUL -- South Korea's top meal kit maker Fresheasy has merged with a diet therapy company to expand its presence in the rapidly-growing ready-to-eat packaged meal market, which is projected to stand at five trillion won ($4.2 billion) in 2022.

Home meal replacement (HMR) products, also known as meal kits, are convenient heat-and-eat food packages designed for quick and easy consumption. Meal kits are favored by young working people and single households who do not feel the need to cook for every meal. Some HMRs include various seasonings and vacuum-packed raw ingredients such as meat and vegetables which can be cooked instantly.

The convenient meal packs became even more popular in 2020 when a coronavirus pandemic prompted people to stay at home and avoid visiting crowded places such as large supermarkets and shopping malls. According to the Korea Agro-Fisheries & Food Trade Corporation, the domestic market for meal kits has increased by about 85 percent in 2021, compared to 2020.

Fresheasy said in a statement on November 24 that the company will expand its scope of HMR and meal kit business by merging Dr. Kitchen that produces meal kits for patients and consumers who seek healthier food. The merger was carried out through an exchange of shares.

Park Sae-jin swatchsjp@ajunews.com

Fresheasy absorbs diet therapy company to grow big in domestic meal kit market

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