Cloud Kitchen Market to be dominated by Independent Cloud Kitchen Segment at a CAGR of 14.13 percent - Says Maximize Market Research

PUNE, India, July 29, 2024 /PRNewswire/ -- Maximize Market Research, an Information Technology & Telecommunication business research firm has published a report on the 'Global Cloud Kitchen Market'. The total market size for the Cloud Kitchen Market was USD 34.69 Bn in 2023 and is expected to grow at 14.13 percent CAGR through the forecast period by reaching nearly USD 87.51 Bn by 2030.

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Highlights of the Report

• Cloud kitchens, or virtual kitchens, are commercial kitchens focused on food delivery and takeout, characterized by lower overhead costs, allowing for diverse menu offerings and operational efficiency.
• The convenience of meal delivery services has led to a surge in demand for cloud kitchens while ensuring a stable supply chain and managing food costs are key challenges for cloud kitchen operators.
• Cloud kitchens offer lower startup costs compared to traditional restaurants, making it an attractive business model.
• The integration of technology, such as AI and automation, will continue to shape the industry. The emergence of new business models, such as ghost kitchens and shared kitchens, will create growth opportunities.

Cloud Kitchen Market Key Players

• Auntie Anne's Franchisor SPV LLC
• Domino's Pizza, Inc.
• CKE Restaurants Holdings, Inc.
• Firehouse Restaurant Group, Inc.
• Jack in the Box, Inc.
• McDonald's
• Restaurant Brands International, Inc.
• Yum Brands Inc.
• Inspire Brands, Inc.
• Innobliss Solutions Private Limited
• Kitchen United
• Others

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The Burger/Sandwich Segment to dominate during the forecast period

Consumers are in search of fast, cost-effective, and customizable meal choices, with burgers and sandwiches meeting these needs effectively. These menu items not only offer a high-profit margin but also maintain a steady demand across different demographics. A study by SMR in 2023 states that 60% of online food orders in the cloud kitchen sector included burgers or sandwiches. Major players such as Rebel Foods, known for operating multiple virtual brands, have reported a 40% YoY growth for their burger brand Faasos. Similarly, The Halal Guys, famous for their gyro sandwiches, have expanded from a single New York City cart to over 100 cloud kitchen locations worldwide. The simplicity of preparation and the ability to uphold quality during delivery make burgers and sandwiches perfect choices for cloud kitchens. The plant-based burger market alone experienced a 27% surge in 2023, indicating a growing interest in healthier options among consumers. This sector also embraces cutting-edge technology, with brands like BurgerFi utilizing AI for order customization to enhance the overall customer experience. By incorporating data analytics for inventory management and marketing strategies, the burger/sandwich segment optimizes its operations. This combination of consumer preference, operational efficiency, and technological advancements positions the burger/sandwich segment as a dominant force in the cloud kitchen industry, driving significant growth and offering lucrative opportunities.

Global Cloud Kitchen Market Regional Analysis

In North America, the cloud kitchen market is being dominated by the United States, where key players such as Uber Eats, DoorDash, and CloudKitchens are collectively generating over $12 billion in revenue in 2023 fueling the growth. The cloud kitchen model resonates with the growing consumer demand for convenience and variety, as evidenced by 58% of Americans ordering takeout at least once a week. For instance, Kitchen United operates more than 15 facilities across the country, offering shared kitchen spaces to restaurant brands to streamline delivery operations and cut down on costs. Additionally, venture capital investments in the US food tech sector soared to $3.5 billion in 2023, indicating strong financial support for ongoing innovation. These factors collectively ensure that the United States maintains its leading position and continues to expand in the cloud kitchen market.

In Asia, the organized food service market faced a notable slowdown, but cloud kitchens rapidly filled the gap, with China and India hosting thousands of these facilities. Major players like Rebel Foods in India and Grab in Southeast Asia have significantly expanded their operations, marking substantial growth across the region. Europe's cloud kitchen market is also on the rise, with countries like the UK, Germany, Spain, and Italy making significant strides in delivery and takeout services. Meanwhile, the Middle East and Africa are experiencing notable growth, with the UAE leading the charge in cloud kitchen establishments.

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By Type               

• Independent Cloud Kitchen
• Commissary/Shared Kitchen
• Kitchen Pods

By Nature           

• Franchised
• Standalone

By Deployment

• Web
• Mobile

Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024−2030
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by Type, Product, Nature, Deployment, and Region
• Competitive Landscape – Profiles of selected key players by region in a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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Virtual Kitchen Market reached a value of US$ 71.40 Bn. in 2023. Global market is expected to grow at a CAGR of 13.5% during the forecast period. The market is expected to reach a value of US$ 173.26 Bn. by 2030.

Virtual Fitting Room Market size was valued at US$ 5.20 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 20.6% through 2024 to 2030, reaching nearly US$ 19.32 Bn.

Global Cloud Advertising Market size was valued at USD 4.45 Bn. in 2023 and the total Cloud Advertising revenue is expected to grow by 23.2 % from 2024 to 2030, reaching nearly USD 19.20 Bn.

Commercial Kitchen Appliances Market size was valued at US$ 101.65 Bn in 2023 and the total revenue is expected to grow at 6.7 % through 2024 to 2030, reaching nearly US$ 160.05 Bn.

Kitchenware Market size was valued at US$ 70.86 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 4.5% through 2024 to 2030, reaching nearly US$ 96.44 Bn.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. We provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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