- Increase in demand for online food delivery, rise in demand for international cuisine, and adoption of tech-savy ordering system across the globe drive the global cloud kitchen market
PORTLAND, Oregon, June 16, 2020 /PRNewswire/ -- Allied Market Research published a report, titled,"Cloud Kitchen Market by Type (Independent Cloud Kitchen, Commissary/Shared kitchen, and Kitchen Pods), Product Type (Burger/Sandwich, Pizza/Pasta, Chicken, Seafood, Mexican/Asian Food and Others) and Nature (Franchised and Standalone): Global Opportunity Analysis and Industry Forecast, 2021–2027."According to the report, the global cloud kitchen market garnered $43.1 billion in 2019, and is estimated to reach $71.4 billion by 2027, registering a CAGR of 12.0% from 2021 to 2027.
Drivers, restraints, and opportunities-
Rise in demand for online food delivery, increase in demand for international cuisine, and adoption of tech-savy ordering system across the globe drive the growth of the global cloud kitchen market. However, increase in health issues due to consumption of fast food and competition from fine dining and quick service restaurant (QSRs)hinder the market growth. On the other hand, increase in internet penetration and rise in adoption of social media marketing are anticipated to offer new opportunities in the coming years.
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The burger/sandwich segment to maintain its lead status-
Based on product type, the burger/sandwich segment accounted for nearly one-fourth of the global cloud kitchen market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to the convenience and ease of availability, less preparation time, and hectic lifestyle of the consumers in developed as well as emerging countries.However, the seafood is estimated to portray the highest CAGR of 15.1% from 2021 to 2027. Increase in health consciousness among the consumers across the globe drives the growth of the segment.
The independent cloud kitchen segment to maintain its leadership position-
Based on type, the independent cloud kitchen segment contributed to the highest market share with around two-thirds of the global cloud kitchen market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to increase in utilization of independent cloud kitchens by grocery stores, restaurant brands and multi-branded restaurants. However, the kitchen pods segment is estimated to generate the fastest CAGR of 13.9% from 2021 to 2027. This is attributed to rise in trend of pods in cloud kitchen industry and increase in demand of online food delivery amongst millennial and generation.
North America is anticipated to dominate the market by 2027-
Based on region, North America accounted for the highest share based on revenue, holding for more than two-fifths of the global cloud kitchen market in 2019, and is projected to maintain its dominant position throughout the forecast period.This is attributed to rise in population, improved lifestyle and growth in purchasing power of consumers in this region. However, the Asia-Pacific is estimated to generate the fastest CAGR of 14.4% from 2021 to 2027. This is attributed to increase in number of youngster's population and rise in demand for online food delivery in this region.
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Kitchen Appliances Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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