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| Cloud Kitchen Market Growth |
The global Cloud Kitchen Market is estimated to be valued at US$ 44.28 Bn in 2023 and is expected to
exhibit a US$ 44.28 Bn over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Cloud kitchen, also known as ghost kitchens, is a commercial space or facility
designed for the preparation of delivery-only meals. They offer cost-effective
solutions for food business ventures as they require smaller spaces and have
lower rental and infrastructure costs compared to dine-in restaurants. Cloud
kitchens help restaurants, confectionaries and other food brands expand their
delivery presence without establishing expensive brick-and-mortar outlets. With
rapid digitization and the growth of food delivery apps, cloud kitchens have
gained significant popularity as they help streamline food preparation and
delivery operations.
Market key trends:
One of the major trends driving the growth of cloud kitchen market is the
growing demand for delivery-only operations. With more people ordering meals
online and doorstep deliveries becoming convenient, restaurants are shifting
focus from dine-in to delivery models. Cloud kitchens help cater this growing
demand by enabling expansion of delivery services without additional
infrastructure costs. The set-up and maintenance of cloud kitchens is
cost-effective in comparison and allows food brands to scale delivery
operations with lower overheads. This has boosted the adoption of cloud kitchen
concept among restaurants as well as new food startups.
Porter's Analysis
Threat of new entrants: Low capital requirements and availability of delivery
platforms lower the threat of new entrants, however intense competition and
requirement of hygienic infrastructure pose challenges.
Bargaining power of buyers: Buyers have high bargaining power due to
availability of large number of substitutes and low switching costs.
Bargaining power of suppliers: Suppliers of raw materials and ingredients have
moderate to low bargaining power given fragmented supply chain.
Threat of new substitutes: New models of food delivery and innovations in cloud
kitchen pose threat of substitution.
Competitive rivalry: Intense competition exists among existing players due to
low differentiation.
Key Takeaways
The global Cloud
Kitchen Market Growth is expected to witness high growth, exhibiting US$ 44.28 Bnover the forecast period
2023 to 2030, due to increasing demand for food delivery and advantages of
cloud kitchen model.
Regional analysis shows that Asia Pacific dominates the cloud kitchen market
currently owing to increasing disposable income, urbanization and digital
transformation in the region. Countries like India and China are emerging as
high growth markets. North America is also expected to register high growth due
to growing adoption of online food delivery services.
Key players operating in the cloud kitchen market are Dahmakan, DoorDash, Ghost
Kitchen Orlando, Keatz, Kitchen United, Kitopi Catering Services LLC, Rebel
Foods, Starbucks Corporation, Swiggy, and Zuul. Players are focusing on
expansion, collaboration with delivery platforms and acquiring new customers to
gain higher market share.
Read More: https://www.trendingwebwire.com/cloud-kitchens-market-is-estimated-to-witness-high-growth/