Press release
Cloud Kitchen Market Growth, Development Share, Comprehensive Analysis, Regional Outlook 2024
The Business Research Company presents an extensive market research report on the Cloud Kitchen Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The cloud kitchen market size has grown strongly in recent years. It will grow from $61.67 billion in 2023 to $67.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to urbanization, rise of food delivery apps, lower operational costs, flexibility and scalability, entrepreneurial opportunities, globalization of cuisine.
The cloud kitchen market size is expected to see rapid growth in the next few years. It will grow to $103.3 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to contactless dining, sustainable practices, e-commerce growth, demand for local and authentic cuisine, crisis resilience, regulatory support. Major trends in the forecast period include ghost kitchen collaborations and partnerships, integration of technology for operational efficiency, virtual brands and multi-concept kitchens, optimized menu design, diversification of delivery channels.
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Key Market Players:
Major companies operating in the cloud kitchen market report are Zuul Kitchen, Swiggy Platform Private Limited, Uber Technologies Inc., Taster Inc., Starbucks Corporation, DoorDash Inc. , Reef Technology Inc., Toast Inc., Grubhub Inc., Deliveroo Holdings plc, Foodpanda Pte. Ltd., Foodpanda, Pop Meals, Zomato Ltd., Lightspeed Commerce Inc., Fat Brands Inc., PAR Technology Corporation, Olo Inc., Posist Technologies Pvt. Ltd., Rebel Foods Inc., Kitopi Catering Services LLC, Just Eat Takeaway.com N.V., CloudKitchens Inc., Cloudbeds Inc., Xenial Inc., Kitchen United, Farm to Fork Meals, Sweetheart Kitchen Inc., Keatz Inc., Ghost Kitchen Orlando LLC
Market Drivers:
The increase in number of smartphone users, increasing demand for online food services is expected to drive the growth of the cloud kitchen market. The increasing consumer preference for online food services is due to the hectic life schedules of people and rising disposable incomes which increases the growth of the cloud kitchen. For instance, in 2021, Oberlo reported the number of global smartphone users accounted to nearly 6.4 billion, marking a 5.3% annual increase. The smartphone penetration rate in 2023 will be at nearly 53.8%. Therefore, the increasing number of smartphone users is driving the cloud kitchen market growth.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/cloud-kitchen-global-market-report
The cloud kitchen market covered in this report is segmented -
1) By Type: Independent Cloud Kitchen, Commissary Or Shared Kitchen, Kitchenpods
2) By Food Type: Burger And Sandwich, Pizza And Pasta, Chicken, Seafood, Mexican And Asian Food, Other Types
3) By Nature: Franchised, Standalone
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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