Press release
Cloud Kitchen Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company offers in-depth market insights through Cloud Kitchen Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Surging Number Of Smartphone Users To Drive Market Growth
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.
Competitive Landscape:
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
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Top Trend - Strategic Partnerships Reshaping The Cloud Kitchen Market
Major companies operating in the cloud kitchen market are forming partnerships to develop new products and strengthen their positions in the market. Collaborations and partnerships in the cloud kitchen market drive business growth by expanding market reach, optimizing operations, fostering innovation, and enhancing customer experiences through shared resources, expertise, and promotional efforts. For instance, in July 2022, My Cloud Kitchen, an India-based cloud kitchen solutions company, partnered with NVA Foods Private Limited, an India-based food and beverage company, to incubate and consult cloud kitchen startups in Bangalore, launching a $1.23 million corpus to invest in multi-brand, multi-cuisine home delivery models. Leveraging their expertise in brand building, vendor tie-ups, menu engineering, inventory management, staff recruitment, culinary training, and marketing, the joint venture aims to support aspiring food entrepreneurs by providing end-to-end consulting support and making food entrepreneurship more hassle-free and affordable.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cloud Kitchen Market Characteristics
3. Cloud Kitchen Market Trends And Strategies
4. Cloud Kitchen Market - Macro Economic Scenario
5. Cloud Kitchen Market Size And Growth
…..
27. Cloud Kitchen Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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