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Cloud Kitchen Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Zuul Kitchen, Swiggy Platform Private Limited, Uber Technologies Inc., Taster Inc., Starbucks Corporation
Cloud Kitchen Global Market Report 2024
As per the report, 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 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%.
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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.
Product Innovation Transforming The Cloud Kitchen Market
Major companies operating in the cloud kitchen market are developing new products such as kitchen coworking spaces to gain a competitive edge in the market. Kitchen coworking spaces are shared culinary facilities that provide food entrepreneurs and professionals with access to fully equipped kitchen spaces on a flexible rental basis. For instance, in March 2023, Instakitchen, an Italy-based kitchen spaces company, launched first kitchen coworking space in Rome. This innovative concept provides food entrepreneurs with flexible, ready-to-use kitchen spaces compliant with ASL regulations, aiming to reduce initial investment costs by over 80% and time to market. Instakitchen offers rental options on a daily, monthly, or annual basis for spaces ranging from 10 to 40m2, accommodating various food sector professionals, including delivery businesses, home chefs, caterers, production labs, startups, consultancy firms, and food influencers. The shared kitchen space also fosters a collaborative community by organizing workshops, events, and networking opportunities for its members.
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
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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
Contents of the report:
1. Executive Summary
2. Cloud Kitchen Market Report Structure
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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