Cloud Kitchen Market was Estimated to be US$ 4869.80 Million in 2018 and is Expected to Grow at a CAGR of 16.50 % Over the Forecast Period; says Absolute Markets Insights

Cloud Kitchen Market is Owing to Increasing Demand for Reducing Operational Costs among Restaurants with major key players

PUNE, India, April 16, 2020 /PRNewswire/ -- On-demand services are on the rise all around the globe. With the proliferation of internet and smart devices, numerous users are venturing into the digital sphere and industries are quickly catching up with this trend. The hotel and restaurant industry is in its world of transformation. In crowded business hubs such as New York and London, owning a piece of land for business purposes would mean shelling out a fortune. In Manhattan, for example, the rental rates for commercial spaces vary from US$ 75 to US$ 2,000 per square foot. If an individual plans to open a restaurant, additional costs such as waiter wages and furniture setup will burden him further. This is where the concept of cloud kitchen comes in. Almost all industries are trying out "cloud" based solutions to bring down the capital and operational costs. Cloud kitchens cater to the needs of those individuals who prefer the online food delivery mechanism. With the rising popularity of online food delivery businesses such as Uber Eats, DoorDash and GrubHub, the global cloud kitchen market is expected to show considerable growth in the coming years, especially in the APAC region.

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Kitchen spaces can be used by a single brand or be shared between several brands. This allows the stakeholders to decrease their capital and operational costs, thereby increasing the profit margin. Some cloud kitchens also provide door-to-door delivery themselves, apart from the collaboration with other online food delivery companies. Once an order is placed through its website or an online food delivery platform, food is prepared and dispatched. The companies needn't focus on front house activities, which allow them to fully focus on the food preparation process. They can also expand to other cities with ease due to the absence of heavy investments. Furthermore, with the outbreak of the COVID-19, the cloud kitchen market will be a lucrative investment in the coming years. As social distancing has become a necessity, people are relying more on virtual kitchens for a variance in cuisine, thus increasingly contributing in the growth of the cloud kitchens, which is likely the the future of the restaurant industry.  

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The detailed research study provides qualitative and quantitative analysis of cloud kitchen market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• In terms of revenue, the corporate segment accounted for the highest share in 2018. The availability of capital and the ability to use their brand popularity which gains user trust is helping in their growth.
• On the basis of offering, the solutions segment is expected to show the maximum growth, due to the increasing requirement for kitchen spaces and kitchen setup solutions.
• As far as geography is concerned, North America accounted for the maximum share in the global cloud kitchen market in 2018. This can be attributed to the advanced research and development technologies that are present in the region.
• Some of the players operating in the cloud kitchen market PAR Technology Corp, KitchenPodular, Kitchen United, Cloud Kitchen, Deliverect, DoorDash, REEF Technology, Keatz, Taster, Zomato Media Pvt Ltd, REBEL FOODS, Deliveroo, The Food Corridor, PAR Technology Corp, KitchenPodular and Kitchen United, amongst others.

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Cloud Kitchen Market:

• By End-User
• Individuals
• Corporates
• By Offering
• Solutions
• Services
• By Type
• Independent Cloud Kitchen
• Shared Cloud Kitchen
• Others
• By Geography
• North America
• U.S
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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SOURCE Absolute Markets Insights