Overview and Scope
A virtual kitchen, also known as a ghost kitchen, is a professional food preparation and cooking facility set up to prepare delivery-only meals. It operates without a physical dine-in location and is designed to fulfill online orders through delivery services or directly via the restaurant’s app or website.
Sizing and Forecast
The virtual kitchen market size has grown rapidly in recent years. It will grow from $60.15 billion in 2023 to $68.04 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increased social media marketing, increased demand for international cuisines, increased popularity of shared kitchen concepts in hotels and restaurants, rise in number of standalone brands serving customers from a single location, increased demand for fast food products.
The virtual kitchen market size is expected to see rapid growth in the next few years. It will grow to $112.47 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to rise in online food delivery demand, changing consumer taste preferences, rise in disposable income, increasing use of smartphones, easy access to internet. Major trends in the forecast period include focus on advertising, strategic partnerships, transformation of the restaurant industry, innovative service launch, technological advancements.
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Segmentation & Regional Insights
The virtual kitchen market covered in this report is segmented –
1) By Component: Software, Services, Hardware, Other Components
2) By Application: Workplaces, Household, Schools, Other Applications
3) By End-User: Commercial Space, Residential, Hospitality, Other End Users
North America was the largest region in the virtual kitchen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual kitchen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing significance of digitalization is expected to propel the growth of the virtual kitchen market going forward. Digitalization is converting information, data, or physical objects into a digital format that computers can easily process, store, and transmit. The growing significance of digitalization can be attributed to increased brand awareness and visibility, enhanced customer engagement, improved customer support, and cost-effective marketing. Digitalization plays a crucial role in the success and efficiency of virtual kitchens by streamlining operations, improving customer experiences, and optimizing resource management. It enables virtual kitchens to operate more efficiently, reduce costs, and provide a better customer experience, ultimately driving growth and success in the competitive food delivery market. For instance, in February 2024, according to a report published by the United Kingdom, in 2022, provisional estimates indicate that the digital sector contributed $171.25 million to the UK economy, accounting for 7.2% of the total UK gross value added (GVA), an increase from 7.1% in 2021. Therefore, the growing significance of digitalization is driving the growth of the virtual kitchen market.
Key Industry Players
Major companies operating in the virtual kitchen market are Uber Eats , Starbucks Corp., DoorDash Inc., Micro-Star International, Deliveroo, Foodpanda, CloudKitchens , GrubHub Holdings Inc., Kitopi , Postmates Inc., Rebel Foods, Kitchen United, Wetzel’s Pretzels LLC, Clicky Media Ltd., Deliverect, Kitchen Connect, Zuul Kitchens Inc., Dahmakan, Taster Group Ltd., Franklin Junction, The Local Culinary, Smart City Kitchens, Ghost Kitchen Orlando, Kouzina FoodTech, Nextbite
The virtual kitchen market report table of contents includes:
- Executive Summary
- Virtual Kitchen Market Characteristics
- Virtual Kitchen Market Trends And Strategies
- Virtual Kitchen Market – Macro Economic Scenario
- Global Virtual Kitchen Market Size and Growth
……….
- Global Virtual Kitchen Market Competitive Dashboard
- Key Mergers And Acquisitions In The Virtual Kitchen Market
- Virtual Kitchen Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Virtual Kitchen Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Virtual Kitchen Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Virtual Kitchen Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……….
Table 74: Uber Eats Financial Performance
Table 75: Starbucks Corp. Financial Performance
Table 76: DoorDash Inc. Financial Performance
Table 77: Micro-Star International Financial Performance
Table 78: Deliveroo Financial Performance
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