SAN FRANCISCO, June 22, 2021 / PRNewswire / – The Global Cloud Kitchen Market Size Is Expected reach $ 139.37 billion by 2028, registering a 12.4% CAGR from 2021 to 2028, according to a new study by Grand View Research, Inc. Digital upheavals and technological innovations have popularized the trend of online food ordering and home delivery. Increased efforts in convenience, comfort and quality of service have also contributed to the emergence of cloud kitchens. Additionally, changing lifestyles, especially millennials with increased disposable incomes demanding convenience at their touchpoints, are the factors driving the rise of virtual kitchens.
Main lessons and findings:
- In terms of type, the independent cloud kitchen segment held the largest market share in 2020, accounting for over 60% of the overall market. The growing consumer preference for international cuisines and fast food restaurants is expected to become the main trend driving the segment’s growth.
- In terms of nature, the franchise segment is expected to register the highest CAGR during the forecast period. The growing popularity of large restaurant chains with high brand equity and high quality of service is expected to drive the growth of the segment during the forecast period.
- Factors such as the increasing penetration of the Internet and the increasing proliferation of online delivery services in the economies of China, India, and Japan allowed the Asia Pacific regional market to hold the dominant position in 2020. The regional market exceeded 60.0% of the global market share in 2020
Read the 80-page market research report, “Cloud Cooking Market Size, Share and Trend Analysis Report by Type (Independent Cloud Cooking, Commissary / Shared, Cooking Pods), By Nature (Franchised, Standalone), By Region and Forecast segment, 2021-2028 “, By Grand View Research
Changing lifestyles are forcing restaurateurs to focus on strategies to improve convenience and the customer experience. With increased competition among restaurants with similar offerings, the need to maintain quality of service puts increased pressure on cost management, failure to do so often results in outlet closings. Therefore, to ensure the survival of businesses and increase profits, cloud kitchens are gaining momentum. With the minimum risk involved, several entrepreneurs, including food aggregators, are investing more and more in the concept.
âCloud kitchens are expected to be a vital part of the new normal, after the disruption caused by the COVID-19 pandemic. “
The increase in COVID-19 cases around the world has made social distancing imperative. Additionally, frequent closures to contain the spread of the virus have acted as a catalyst by increasing the demand for deliveries and take-out, leading to an increase in the number of cloud kitchens around the world. Restaurants facing a business slump due to declining attendance have shifted to the concept of virtual kitchens as the take-out model has become a viable source of income generation during the COVID-19 pandemic. Plus, because virtual kitchens require minimal investment and operational costs to operate, they help restaurants improve their profit margins. The increased awareness of the benefits of cloud kitchens is encouraging many food entrepreneurs and restaurateurs to invest in cloud kitchens.
Grand View Research has segmented the global cloud kitchen market on the basis of type, nature, and region:
- Cloud Cooking Type Outlook (Revenue, USD Million, 2017 – 2028)
- Independent Cloud Kitchen
- commissary / common kitchen
- Cooking capsules
- Cloud Kitchen Nature Outlook (Revenue, USD Million, 2017 – 2028)
- Cloud Kitchen Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of key players in the Cloud Kitchen Market
- Dahmakan (pop meal)
- Orlando Ghost Kitchen
- United kitchen
- Rebel foods
- Starbucks Coffee Business
- Zuul Kitchens, Inc.
Find more research reports on Communication services industry, by Grand View Research:
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- Customer experience management – The size of the global Customer Experience Management market has been estimated to be $ 7,540.6 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 17.5% from 2021 to 2028.
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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