Insights

Marley Spoon (ASX:MMM) share price jumps 9% following $20b sector forecast

The global meal kit market has received a spicy new forecast…
The post Marley Spoon (ASX:MMM) share price jumps 9% following $20b sector forecast appeared first on The Motley Fool Australia. –

The Marley Spoon AG (ASX: MMM) share price rallied today despite no announcements from the company. Potentially, investors might be absorbing a recent research report that forecasts a peachy future for the global meal kit delivery market.

The German-based meal kit company’s shares finished the session 8.98% higher at $2.67.

Marley Spoon shares lift amid beefed-up estimates

Despite market research and consulting company Renub Research publishing its analysis of the meal kit market late last month, the forecasts have been widely shared across financial news over the past couple of days. The report, titled ‘Meal Kit Market Global Forecast by Country, Type, Ordering Method (Online, Offline), Category (Vegetarian, Non-Vegetarian), Company Analysis’, offered a deep dive into the industry.

The crux of Renub’s analysis is that COVID-19 has provided a substantial tailwind for the meal kit industry. With restaurants and some supermarkets forced to close, consumers have been increasingly turning to delivered meal kits to satisfy their culinary desires.

In essence, the report outlines an expectation the convenience phenomena in meal preparation will continue to grow. It found the global meal kit market was estimated to be worth US$8.4 billion in 2020. However, this is forecast to reach US$20.1 billion by 2027.

Those estimates certainly look appealing for companies operating within the space. An expanding market means greater potential for revenue growth. This must be music to the ears of shareholders.

Meal kit roundup

Marley Spoon isn’t the only company looking to take advantage of this potentially growing trend. Other dominant competitors in the industry include internationally listed companies HelloFresh and Blue Apron Holdings Inc.

HelloFresh recorded more than 1.3 million shoppers in the first few months of lockdowns. According to Similarweb, HelloFresh received a total of 9.81 million website visits in May. Marley Spoon, on the other hand, recorded 1.04 million visits.

For reference, the ASX-listed Marley Spoon has a market capitalisation that’s roughly 3% of HelloFresh’s. However, that hasn’t stopped the Marley Spoon share price from soaring 147% in the past 12 months.

The post Marley Spoon (ASX:MMM) share price jumps 9% following $20b sector forecast appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

The Brickworks (ASX:BKW) share price hit an all-time high today. Here’s why
Woolworths (ASX:WOW) under fire over Darwin Dan Murphy’s store
Patience, grasshopper

Thomson Resources (ASX:TMZ) share price surges on exploration results
Why the QuickFee (ASX:QFE) share price jumped higher today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!