Virtual Kitchen Market Trends, Growth Drivers, Share, Overview By 2033

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:

1. Executive Summary
2. Virtual Kitchen Market Characteristics
3. Virtual Kitchen Market Trends And Strategies
4. Virtual Kitchen Market – Macro Economic Scenario
5. Global Virtual Kitchen Market Size and Growth

……….

33. Global Virtual Kitchen Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Kitchen Market
35. Virtual Kitchen Market Future Outlook and Potential Analysis
36. 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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