Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Cloud Kitchen Market” - which is forecasted from 2020 to 2027”.
The low capital requirements and low risk are the key growth factors attributing to the development of the Cloud Kitchen Market in the forecasted period. Rapid penetration of smartphones and advancing technologies has further augmented the market’s growth.
As per the report, Cloud Kitchen Market is expected to grow at a CAGR of 12.52% to reach US$88.889 billion by 2027, from US$38.926 billion in 2020.
Cloud Kitchen, also called a virtual kitchen, is a commercial cooking space that enables gourmets to offer services to their customers through take-outs and door-to-deliveries. Unlike typical brick-and-mortar restaurants, Cloud Kitchens do not provide dine-in services. They solely deal with the making of the dishes and delivery or team up the online food websites, including Zomato, Ubereats, Caviar, Grubhub, and many more. Cloud Kitchens are primarily designed to enable efficiency, speed, and scale, making it easing for the firms to manage the business efficiently with very little investment and risk. Globalization has not only closed the distance between the people but also brought multiple cuisines from various regions and customs together, increasing the demand for the segment. Furthermore, brands are also actively attracting patrons with appealing promotions and offers, thus increasing their presence in the market. Nevertheless, lack of customer interaction, technological expense, and customers’ apprehension over hygiene are expected to hinder the market growth.
On the basis of the business model, Global Cloud Kitchen Market is bifurcated into Standalone Could Kitchen, Commissary Kitchen, Co-working Cloud Kitchen, Multi-brand Cloud Kitchen, and Outsourced Cloud Kitchen.
On the basis of order source, the market is further segmented into Customer call-in, Firm’s app, Aggregate app, and Delivery app.
On the basis of geography, the market is segmented into North America, South America, Asia Pacific, Europe, the Middle East, and Africa. With rising demand for western food like burgers and pizzas in the region, Pacific Asia is expected to hold a dominant position.
Though the pandemic negatively affected the global economy and several industries, including the food industry, it presented an opportunity to cloud the kitchen industry. The closure of food outlets and restaurants due to mandated lockdown and quarantine measures added an impetus to the cloud kitchen market. Many brick-and-mortar restaurants transitioned to cloud kitchens. For instance, according to a survey conducted by National Restaurant Association, 54% of restaurant operators transitioned to completely off-premises offerings.
As a part of the report, the key players active in the Cloud Kitchen Market that has been covered are KLC Virtual Restaurants, CloudKitchen, The Food Corridor (Fort Collins, CO), Kitopi, Mimic, Muy, Katz, Zulu, Karma Kitchen, Virturant, and Deliveroo.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/cloud-kitchen-market
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