The Cloud Kitchen Market is estimated to be valued at US$ 44.28 Bn in 2023 and is expected to exhibit a CAGR of 12. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cloud kitchens or ghost kitchens are professional kitchen spaces that are used for the preparation and delivery of food specifically for delivery/takeaway and do not have their own dining/serving area or storefront. These kitchens enable restaurants to operate delivery-only formats and bring down real estate costs, allowing them to scale rapidly and penetrate new markets. Cloud kitchens enable delivery-only brands and restaurants to leverage excess kitchen capacity to expand into new markets and food categories efficiently.
Market Dynamics:
Increasing popularity of online food delivery is one of the major drivers of the cloud kitchen market. Rising adoption of digital platforms for food ordering and growing preference for convenience among consumers has led to significant expansion of online food delivery services globally in recent years. Moreover, COVID-19 pandemic further accelerated this adoption as lockdowns and social distancing measures compelled people to order food online. According to Statista, the total online food delivery transaction value worldwide is projected to grow from $131.57 billion in 2022 to $161.65 billion by 2025.Young demographic especially millennials and Gen Z show high inclination towards online food ordering owing to influence of digital technologies.
Another driver for Cloud Kitchen Market Growth is high entry barriers for restaurants especially in terms of expensive real estate costs. Ghost kitchens enable brands to run delivery only format at fraction of real estate costs and start operations with lower capital investment compared to dine-in restaurants.This allows new restaurant concepts and brands to experiment and scale operations efficiently without worrying about dine-in infrastructure upfront.
Segment Analysis
The cloud kitchen market can be segmented based on the type of cuisine offered, nature of business, and model type. Based on the cuisine offered, the market can be divided into Asian, European, North American and other cuisines. Asian cuisine dominates the segment owing to rising demand for affordable international cuisine among consumers.
PEST Analysis
Political: The cloud kitchen segment is not directly impacted by political factors. However, regulations around food safety and hygiene have to be strictly followed.
Economic: The rising disposable incomes and busy lifestyles have boosted the demand for cloud kitchens. Higher costs of renting and owning physical restaurants drive operators to adopt the cloud kitchen model.
Social: Changing dietary habits and preferences toward convenience foods have increased the popularity of cloud kitchens. Social media platforms promote these brands, driving sales.
Technological: Technologies like online food delivery platforms and cloud-based ERP solutions help cloud kitchens manage orders, supply chain and fulfil orders smoothly and efficiently.
Key Takeaways
The global cloud kitchen market is expected to witness high growth, exhibiting US$ 44.28 Bnover the forecast period, due to increasing preference for convenient and affordable food delivery among consumers. The market size for 2023 is estimated to be US$ 44.28 Bn.
Regional analysis: Asia Pacific region dominates the global cloud kitchen market and is projected to grow at the fastest pace during the forecast period due to rising number of online food delivery orders from countries like India and China. The availability of affordable international cuisines and increasing urbanization and digitalization have fueled market growth in Asia.
Key players: Key players operating in the cloud kitchen market are Dahmakan, DoorDash, Ghost Kitchen Orlando, Keatz, Kitchen United, Kitopi Catering Services LLC, Rebel Foods, Starbucks Corporation, Swiggy, and Zuul. Rebel Foods and CloudKitchens have established leading positions in the market through partnerships with restaurant brands and expansion of kitchen facilities across regions.
Read More: https://www.rapidwebwire.com/cloud-kitchen-market-overview/
The Cloud Kitchen Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cloud kitchen market include Kitchen United, Rebel Foods, DoorDash Kitchen, Zuul Kitchen, Keatz, Kitopi, Ghost, Kitchen Orlando, Dahmakan, Starbucks (Star Kitchen), Cloud Kitchen.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cloud Kitchen Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/cloud-kitchen-market/download-sampleMarket DynamicsThe market is mainly driven by rising demand for online food delivery, growing demand for international cuisine, and the adoption of tech-savvy ordering platforms worldwide.
However, the rising consumption of fast food and competition fine dining restaurant may hinder market growth.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
