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Cloud Kitchen Market to Reach $154.9 billion, Globally, by 2035 at 11.0% CAGR: Allied Market Research
The cloud kitchen market has experienced significant growth owing to change in consumer preferences toward convenience and online food delivery services, which has helped boost demand. Moreover, lower overhead costs as compared to traditional restaurants attract entrepreneurs to enter into cloud kitchen business. In addition, advancements in technology facilitate efficient operations and order management have collectively contributed to the rapid growth of the cloud kitchen market.
WILMINGTON, Del., May 9, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Cloud Kitchen Market by Nature (Franchised and Standalone), Type (Independent Cloud Kitchen, Commissary/Shared Kitchen, and Kitchen Pods), and Product Type (Burger/Sandwich, Pizza, Pasta, Chicken, Seafood, Mexican/Asian Food, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2035″. According to the report, the “cloud kitchen market” was valued at $44.9 billion in 2023, and is estimated to reach $154.9 billion by 2035, growing at a CAGR of 11.0% from 2024 to 2035.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A06408
Prime determinants of growth
The rapid expansion of the cloud kitchen market is fueled by shifting consumer preferences towards convenience and online food delivery services, with significant impact of the COVID-19 pandemic on traditional dine-in restaurants. As consumers increasingly opt for the ease of ordering food online, cloud kitchens emerge as a cost-effective solution tailored for delivery-only operations, catering to rise in demand for off-premises dining options. The pandemic has acted as a catalyst, accelerating the adoption of cloud kitchens as restaurants pivot toward delivery-centric models to adapt to restrictions and closures. Moreover, the scalability and flexibility of cloud kitchens attract both food entrepreneurs and established restaurant brands, offering opportunities for market expansion with reduced overhead costs.
Report coverage & details
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Report Coverage |
Details |
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Forecast Period |
2024–2035  |
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Base Year |
2023 |
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Market Size in 2022 |
$44.9 Billion |
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Market Size in 2032 |
$154.9 Billion |
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CAGR |
11.0 % |
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No. of Pages in Report |
285 |
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Segments Covered |
Nature, Type, Product Type, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Country Scope |
U.S., Canada, Mexico; UK, Germany, France, Italy, Spain, Russia; China, Japan, India, Australia, ASEAN; Brazil, Argentina, Colombia; GCC, and South Africa |
|
Drivers |
Increasing demand for online food delivery services |
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Cost-effectiveness and efficiency of cloud kitchen operations |
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Adaptation to changing consumer preferences, especially post-COVID-19 |
|
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Opportunities |
Expansion into underserved or untapped markets |
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Integration of technology for enhanced operations and customer experience |
|
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Restraints |
Intense competition in the food delivery market |
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Challenges in maintaining food quality and consistency |
|
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Regulatory hurdles and compliance issues |
The franchised segment to maintain its leadership status during the forecast period
By nature, the franchised segment held the highest market share in 2023, accounting for nearly three-fourths of the global cloud kitchen market revenue and is estimated to maintain its leadership status during the forecast period. Franchised cloud kitchen accounts for a higher value share, as the segment has a larger customer base, which is loyal to its brand and product offerings. Such kitchens have unique trademarks that are used for promotional activities as well as for selling their products. These kitchens also provide or facilitate customer loyalty programs for customers who frequently order food from cloud kitchens. Furthermore, Halal Guys, a cloud kitchen is working with Fransmart, which is a franchise development company, to develop 400 new independent cloud kitchens to increase its delivery services. Hence, effective franchising strategies adopted by operators boost the growth of the cloud kitchen market.
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The independent cloud kitchen segment to maintain its leadership status during the forecast period
By type, the independent cloud kitchen segment held the highest market share in 2023, accounting for more than three-fifths of the global cloud kitchen market and is estimated to maintain its leadership status during the forecast period. Independent cloud kitchens dominate the market primarily owing to their agility, adaptability, and lower barriers to entry compared to traditional restaurant chains. Unlike established brands, independent operators can swiftly respond to changing consumer preferences, experiment with diverse cuisines, and pivot their offerings without the constraints of legacy infrastructure or brand image. Moreover, independent cloud kitchens often require less initial investment, as they can operate from smaller, more cost-effective locations and leverage shared kitchen spaces. As a result, less investment allows entrepreneurs and small businesses to enter the market more easily and compete alongside larger players. In addition, rise in online food delivery platforms has increased access to customers, enabling independent cloud kitchens to reach broader audiences and establish a loyal customer base without the need for extensive marketing budgets or physical storefronts.
The burger and sandwich segment to maintain its leadership status during the forecast period
By product type, the burger and sandwich segment held the highest market share in 2023, accounting for more than one-fifth of the global cloud kitchen market and is estimated to maintain its leadership status during the forecast period. These classic comfort foods cater to a wide range of tastes and dietary preferences, which makes them a popular choice for consumers across different demographics and cultures. Moreover, burgers and sandwiches are well-suited for delivery, as they travel well and maintain their quality during transit, ensuring a satisfying dining experience for customers ordering from cloud kitchens. Furthermore, the customizable nature of burgers and sandwiches allows for endless variations and innovative flavor combinations that enables cloud kitchen operators to differentiate their offerings and attract customers seeking unique culinary experiences. Thus, with the growing demand for convenient and affordable dining options, burgers and sandwiches continue to drive high sales rates in the cloud kitchen market globally, serving as staple menu items for both independent operators and established restaurant brands.
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North America to maintain its dominance by 2035
Region-wise, North America held the highest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. Rise in population and improved lifestyle are the key factors that drive the growth of the cloud kitchen market. Increase in purchasing power in the region majorly boosts sales of cloud kitchen products in the region. Moreover, consumers are increasingly opting for different types of fast food, resulting in a strong requirement of cloud kitchen products. Thus, the cloud kitchen market holds significant potential and is expected to experience a considerably higher growth rate during the forecast period in the region.
Leading Market Players: –
- Dahmakan
- DoorDash
- Ghost Kitchen Orlando
- Keatz, Kitchen United
- Kitopi Catering Services LLC
- Rebel Foods
- Starbucks Corporation
- Swiggy
- Zomato
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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