Cloud Kitchen Market Size Worth $139.37 Billion By 2028 | CAGR: 12.4%: Grand View Research, Inc.

SAN FRANCISCO, June 22, 2021 /PRNewswire/ -- 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, according to a new study conducted by Grand View Research, Inc. 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.

Key Insights & Findings:

• 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. 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

Read 80 page market research report, "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", By Grand View Research

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.

"Cloud Kitchens are expected to be an essential part of the new normal, after the disruptions caused by the COVID-19 pandemic."

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.

Grand View Research has segmented the global cloud kitchen market based on type, nature, and region:

• Cloud Kitchen Type Outlook (Revenue, USD Million, 2017 - 2028)
• Independent Cloud Kitchen
• Commissary/Shared Kitchen
• Kitchen Pods
• Cloud Kitchen Nature Outlook (Revenue, USD Million, 2017 - 2028)
• Franchised
• Standalone
• Cloud Kitchen Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• Middle East & Africa

List of Key Players of the Cloud Kitchen Market

• CloudKitchens
• Dahmakan (Pop Meals)
• DoorDash
• Ghost Kitchen Orlando
• Kitchen United
• Kitopi
• Rebel Foods
• Starbucks Coffee Company
• Swiggy
• Zuul Kitchens, Inc.

Find more research reports on  Communication Services Industry, by Grand View Research:

• Online Food Delivery Services Market – The global online food delivery services market size was valued at USD 23,539.40 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 15.4% from 2019 to 2025.
• Video Conferencing Market – The global video conferencing market size was valued at USD 4.21 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.4% from 2021 to 2028.
• Customer Experience Management – The global customer experience management market size was valued at USD 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, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.