According to a new report published by UnivDatos Markets Insights, the Cloud Kitchen Market was valued at USD 371.9 million in 2020 and is expected to witness an exponential CAGR of around 15% during 2022-2028. The analysis has been segmented into Type (Independent Cloud Kitchen, Commissary/Shared Kitchen, Kitchen Pods); Product Type (Burger/Sandwich, Pizza/Pasta, Chicken, Seafood, Mexican/Asian Food, and Others); Nature (Franchised and Standalone); Region/Country; Region/Country.
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The Cloud Kitchen market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Cloud Kitchen market. The Cloud Kitchen market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Cloud Kitchen market at the global and regional levels.
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Market Overview
The Global Cloud Kitchens Market is experiencing significant growth with an increase in the number of users on various social media sites and with rise in internet penetration. According to Statista, 1.37 billion active users visited Facebook daily in the fourth quarter of 2017. Overall, daily active users accounted for 66 percent of monthly active users. Various companies and industries use social media marketing as one of their primary techniques for promoting their product offers. As a result, the increased usage of social media marketing is expected to create a lucrative potential for the cloud kitchen market to grow and expand its consumers. According to Forbes, Facebook mobile ads make for 87 percent of ad income, which was USD 9.16 billion at the beginning of 2018.
Furthermore, increasing R&D research in the field of food service equipment is contributing to the emergence of innovative variants with improved efficacy and effectiveness of kitchen equipment. Moreover, the rise in internet penetration has increased the tendency of online food orders.
Some of the major players operating in the market include Kitchen United, Rebel Foods, Door Dash Kitchen, Zuul Kitchen, Keatz, Kitopi, Ghost Kitchen Orlando, Dahmakan, Starbucks (Star Kitchen), and Cloud Kitchen.
COVID-19 Impact
The COVID19 has resulted in a major movement in demand away from restaurant eating and toward food delivered to the home. Cloud kitchens have been crucial in making this possible. This increase in cloud kitchen activities is part of a larger movement in consumer preferences toward delivery services. Due to lockdowns in various regions worldwide the demand for online food delivery has increased. For instance, as per Statista, the coronavirus (COVID-19) pandemic caused an unusual increase in off-premises food services between 2019 and 2020. Restaurant meal delivery climbed by 47 percent internationally, with 95 percent, 89 percent, and 69 percent increases in the United States, Russia, and Canada, respectively.
The global Cloud Kitchen market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is fragmented into independent cloud kitchens, commissary/shared kitchen, and kitchen pods. The independent cloud kitchen segment dominated the market in 2020. It is anticipated to maintain its dominance during the forecast period owing to due to a rise in global demand for exotic cuisines such as Thai and Chinese cuisine. For instance, the United States retail sales of exotic food increased from 11 billion in 2013 to 12.5 billion in 2018. This exotic food mostly included Mexican, Asian, and Italian cuisine.
· Based on product type, the market is fragmented into Burger/Sandwich, Pizza/Pasta, Chicken, Seafood, Mexican/Asian Food, and Others. In 2020, the burger/sandwich segment accounted for a maximum market is expected to remain dominant during the analyzed period owing to its high demand among millennials and Gen Z consumers.
· Based on nature, the market is fragmented into Franchised and Standalone. The franchised segment dominated the market in 2020. It is anticipated to maintain its dominance during the forecast period. Moreover, the segment is also expected to witness the highest CAGR during the analyzed period
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Cloud Kitchen Market Geographical Segmentation Includes:
· North America (United States, Canada, and the Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
North America dominated the market and generated revenue of USD XX million in 2020 owing to hectic schedules, busy and fast life. For instance, 36% of Americans eat fast food on the regular basis. However, the Asia Pacific region would grow at the highest CAGR during the forecast period.
The major players targeting the market include
· Kitchen United
· Rebel Foods
· DoorDash Kitchen
· Zuul Kitchen
· Keatz
· Kitopi
· Ghost Kitchen Orlando
· Dahmakan
· Starbucks (Star Kitchen)
· Cloud Kitchen
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Cloud Kitchen Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Cloud Kitchen market?
• Which factors are influencing the Cloud Kitchen market over the forecast period?
• What are the global challenges, threats, and risks in the Cloud Kitchen market?
• Which factors are propelling and restraining the Cloud Kitchen market?
• What are the demanding global regions of the Cloud Kitchen market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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