LONDON--(BUSINESS WIRE)--The global meal vouchers and employee benefit solutions market is expected to post a CAGR of more than 6% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The tax benefits of meal vouchers will be one of the major drivers in the global meal vouchers and employee benefit solutions market. Companies, organizations, or employers who provide meal vouchers, food coupons, or prepaid meal cards as part of the employees’ salary structure are exempted from tax in most countries across the globe. For instance, in 2016, according to the Ministry of Laboure and Social Welfare, Brazil, 20 million employees benefited from PAT in the country, in which companies were asked to pay for employee’s food provisions in exchange of tax relief. Also, in India, the number of meal vouchers an employee avails are not included in the taxable salary. These benefits and tax exemption will boost the global market growth during the forecast period of 2018-2022.
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As per Technavio, the shift toward digital meal vouchers and employee benefit solutions, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Meal Vouchers and Employee Benefit Solutions Market: Shift Toward Digital Meal Vouchers and Employee Benefit Solutions
The increasing internet penetration rate in developing economies has been one of the prime reasons for the shift toward digital wallets and payment methods. Also, an increasing number of retailers and vendors have started accepting payments through digital modes. Companies like Sodexo and EDENRED, which are the key players in the market, are automating and digitizing their processes as well as providing personalized services to their clients and employees associated with them. Favorable government policies also drive the adoption of digital payment modes. These factors encourage vendors to invest in the global meal vouchers and employee benefit solutions, which in turn, boosts the market growth during the forecast period.
“The strategic partnerships with meal kit delivery vendors and the rising employment rate are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Meal Vouchers and Employee Benefit Solutions Market: Segmentation Analysis
This market research report segments the global meal vouchers and employee benefit solutions market by application (meal vouchers and employee benefits) and geographical regions (Americas, APAC, and EMEA).
The EMEA region led the market share in 2017, followed by Americas and APAC respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the global market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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