DUBLIN--(BUSINESS WIRE)--The "Cloud Kitchen Market Size, Share & Trends Analysis Report by Type (Independent Cloud Kitchen, Commissary/Shared, Kitchen Pods), by Nature (Franchised, Standalone), by Region and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global cloud kitchen market size is expected to reach USD 139.37 billion by 2028, registering a CAGR of 12.4% from 2021 to 2028.
Digital disruption and technological innovations have popularized the trend of ordering food online and doorstep delivery. Increased efforts toward convenience, comfort and quality of service have also helped the emergence of cloud kitchens.
Additionally, changing lifestyles, especially of millennials with increased disposable incomes demanding convenience at their touchpoints, are the factors stimulating the rise of virtual kitchens.
Changing lifestyles are compelling restaurateurs to focus on customer convenience and customer experience improvement strategies. With increased competition among restaurants delivering similar offerings, the need to maintain the quality of the service puts increased pressure on cost management, failure to do so often results in the shutdown of outlets.
Therefore, to ensure the survival of businesses and increase profits, cloud kitchens are gaining momentum. With the minimal risk involved, several entrepreneurs, including food aggregators, are increasingly investing in the concept.
The rise in COVID-19 cases globally made social distancing imperative. Moreover, frequent lockdowns to contain the spread of the virus acted as a catalyst in increasing the demand for deliveries and takeaways, leading to a rise in the number of cloud kitchens globally. Restaurants facing a slump in business due to declining footfall have shifted to the virtual kitchen concept, as the takeaways model emerged as a viable source of generating revenue during the COVID-19 pandemic.
Furthermore, as virtual kitchens require minimal investment and operational costs to run, they help restaurants improve their profit margins. The increased realization of the benefits of cloud kitchens is encouraging several food entrepreneurs and restaurateurs to invest in cloud kitchens.
Cloud Kitchen Market Report Highlights
- In terms of type, the independent cloud kitchen segment held the largest market share in 2020, accounting for more than 60% of the overall market. The increasing consumer preference for international cuisines and fast foods is expected to emerge as the key trend driving the growth of the segment
- In terms of nature, the franchised segment is expected to register the highest CAGR over the forecast period. The growing popularity of large restaurant chains possessing high brand equity and offering high service quality is expected to drive the growth of the segment over the forecast period
- Factors such as increasing internet penetration and the rising proliferation of online delivery services across 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
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Outlook
Chapter 3. Cloud Kitchen Market Variables, Trends & Scope
3.1. Penetration & Growth prospect mapping
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market challenge/restraint analysis
3.4. Business Environment Analysis Tools
3.4.1. Industry analysis - Porter's five forces analysis
3.4.2. PEST analysis
3.5. Cloud Kitchen Market: COVID-19 Impact Analysis
Chapter 4. Cloud Kitchen Market: Type Estimates & Trends Analysis
4.1. Type Market Analysis & Market Share, 2020 & 2028
4.1.1. Independent Cloud Kitchen
4.1.2. Commissary/Shared Kitchen
4.1.3. Kitchen Pods
Chapter 5. Cloud Kitchen Market: Nature Estimates & Trends Analysis
5.1. Nature Market Analysis & Market Share, 2020 & 2028
Chapter 6. Cloud Kitchen Market: Regional Estimates & Trend analysis
6.1. Regional Market Analysis & Market Share, 2020 & 2028
Chapter 7. Competitive Analysis
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company/Competition Categorization (Key innovators, Market leaders, Emerging Players)
7.3. Key Company Market Ranking Analysis, 2020
Chapter 8. Competitive Landscape
8.1. Company Profiles
8.1.1. Company overview
8.1.2. Financial performance
8.1.3. Product benchmarking
8.1.4. Strategic initiatives
- Dahmakan (Pop Meals)
- Kitchen United
- Rebel Foods
- Zuul Kitchens, Inc
- Starbucks Coffee Company
- Ghost Kitchen Orlando
For more information about this report visit https://www.researchandmarkets.com/r/w9sqj7