The Business Research Company's Virtual Kitchen Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 25, 2024 /EINPresswire.com/ -- The virtual kitchen market has experienced robust growth in recent years, expanding 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.

Strong Future Growth Anticipated

The virtual kitchen market is projected to continue its strong growth, reaching $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.

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Growth Driver Of The Virtual Kitchen Market

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.

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Major Players And Market Trends
Key players in the virtual kitchen market include Uber Eats, Starbucks Corp., DoorDash Inc., Micro-Star International, Deliveroo, Foodpanda, CloudKitchens, GrubHub Holdings Inc.

Major companies operating in the virtual kitchens market are focused on developing innovative kitchens, such as ghost kitchens, to streamline operations and optimize delivery services. The ghost kitchen capability provides a turnkey, scalable solution for customers looking to bring their flavors to new or existing markets, grow their off-premise footprint, and drive revenue.

Segments:

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

Geographical Insights: North America Leading The Market
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.

Virtual Kitchen Market Definition

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.

Virtual Kitchen Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Virtual Kitchen Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on virtual kitchen market size, virtual kitchen market drivers and trends, virtual kitchen market major players, virtual kitchen competitors' revenues, virtual kitchen market positioning, and virtual kitchen market growth across geographies. The virtual kitchen market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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