Virtual Kitchen Market: Global Industry Analysis and Forecast (2021-2027) Size, Trends, Dynamics, Component, Segmentation, and Region

Virtual Kitchen Market reached a value of US$ 48.84 Bn. in 2020. Global market is expected to grow at a CAGR of 13.5% during the forecast period. The market is expected to reach a value of US$ 118.5 Bn. by 2027.

Virtual Kitchen Market Overview:

A Virtual kitchen, additionally generally called a ghost kitchen, is a slimmed-down model of an eating place that cuts fees like actual property and exertions recognition basically on off-premise income channels. In best terms, a ghost kitchen is generally transported only, with a few presenting takeout options. Cloud Kitchen, or Virtual Kitchen, is a delivery-only food company that operates on the premises of a restaurant. Virtual Kitchen Market To know about the Research Methodology:- Request Free Sample Report However, there is not enough physical space for dining facilities. Virtual kitchen solutions reduce the impact on your business by protecting your containerized applications/infrastructure, minimizing downtime and recovery capabilities, and enabling seamless and automated recovery. 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.

Virtual Kitchen Market Dynamics:

Virtual Kitchen has been a successful business model solution for restaurants: Increasing the use of food delivery apps due to changes in people's lifestyles is another major reason for the growing market outlook. The outlook for the virtual kitchen market means that the market will generate huge revenues through rapid technology upgrades and increased use of various distribution apps. Key trends in the virtual kitchen market include an increase in the use of artificial intelligence and an increase in the transition to digitalization in the hospitality industry. In addition, increasing acceptance of virtual kitchens to help identify voice commands and operate according to consumer needs and choices is driving the market growth. The increasing trend of online food orders is pushing up the size of the virtual kitchen market. Virtual kitchens are cheap and simple, helping to increase food delivery effectively and quickly. In addition, as virtual reality and augmented reality evolve, they play a role in the development of the virtual kitchen market which is fuelling the growth of the market. High Investment at the initial stage and increasing maintenance cost is the major factor for restraining the market: The rising costs of virtual kitchen systems and equipment are one of the potential restrictions on industry expansion in the coming years. In addition, the introduction of low-cost alternatives may suffocate market expansion. Virtual kitchens cost between $2 and $4 thousand a month to operate, depending on the market, and are turn-key with a low risk of overhead costs. Depending on whether the operator supplies kitchen equipment or simply a white box kitchen space, these costs may vary according to time. Apart from this maintenance cost of the virtual kitchen is also high which is another major factor hindering the growth of the market. An incompetent food delivery supply chain and an increase in cybercrime theft may act as a major challenge for the market: Shifting consumer preferences, unstable marker prices, adhering to the food quality standards, the threat of bigger players are some of the major reasons which can give a major challenging factor for the virtual kitchen market. However, Increased citizen participation in local government affairs and partnership with the community in service delivery, flexible response to service user complaints, providing value for money, and ensuring that service users pay their bills on time were found to be the most effective strategies for improving service and supply chain delivery. Artificial intelligence's increasing usage by businesses is a key opportunity for the virtual kitchen market: Restaurants can benefit from artificial intelligence in the following ways as Reduce costs of Kiosks and chatbots, automate the process of processing orders and reservations, which generally frees up staff time. Customers should be empowered by AI frequently which allows customers to influence the flow. They can place orders and tailor them to meet their requirements with the help of these easily. These factors act as a major opportunity for the market. Virtual Kitchen Market 1

Virtual Kitchen Market Segment Analysis:

By Component, the market is segmented into Software, Services, Hardware and Others. The Service segment is expected to hold 35.4 % of the overall market share in terms of revenue by 2027. A virtual kitchen cooks meals for a restaurant or virtual restaurant, which are subsequently delivered, taken out, or served at a drive-through. Rent is saved by not having room for customer seats and dining spaces. Because the physical location is less important, ghost kitchens can be set up in less expensive regions. Giving the best services to consumers give immense growth for the virtual kitchen market, and thus owing to these factors this segment is on a constant rise. However, the Software segment is expected to grow at a CAGR of 5.4% during the forecast period. Planner 5D is an excellent choice for the inexperienced consumer who wants to build their kitchen. It's simple to use and accessible, and it's available for IOS and Android devices, as well as Mac OS, Windows, and the web. The free version of the software allows creating 2D renderings which is the major reason for driving the growth of this segment. Virtual Kitchen Market 2 By End-User, the Virtual Kitchen Market is segmented into Commercial Space, Residential, Hospitality and Others. The Residential segment is expected to hold 47.4 % of the overall market share in terms of revenue by 2027. The Virtual kitchen may be located in a distant location, but there is strong client demand for a certain kitchen. Residential neighbourhoods, market backsides, and unused parking lots are all great places to set up a cloud kitchen. Instead, it might opt for a shared cooking room, which would save money in the long run. However, the Commercial Space segment is expected to grow at a CAGR of 6.4% during the forecast period. A commercial kitchen is a fully equipped prep kitchen that is rented out for usage by multiple people. Culinary kitchens, shared kitchens, community kitchens, kitchen incubators, food innovation centres, accelerators, and food hubs are some of the other names for these segments. Assembly line, island, zone-style, galley, and open kitchen are the five most popular types of commercial kitchens. Depending on the type of restaurant consumers want to open, the type of cuisine it will be serving, and the amount of kitchen space the building provides, each one has its own set of advantages which is the major factor for driving the growth of this segment. Virtual Kitchen Market 3

Virtual Kitchen Market Regional Insights:

The North American region accounted for the largest market share of 52.34% in 2020. Considering the region's substantial presence of well-established market participants and user base North America is growing at a constant pace for this market. Rapid technological advancements, solution enhancements, and associated technologies also contribute to the market's growth. The growing adoption of cloud-based technologies across various applications has a beneficial impact on regional market growth. Furthermore, significant R&D efforts in the development of virtual kitchen solutions, as well as a large need for reliable data backup and recovery systems, are supporting regional market growth. The United States leads the regional market in terms of growing firms, which is followed by Canada. However, the Asia Pacific region is expected to grow at a CAGR of 4.9% during the forecast period. The APAC area is a virtual market that is only getting started. India, China, and Japan are projected to be the most powerful countries in terms of expanding the market. Consumers' tastes and preferences for virtual kitchens are being taken into account by enterprises operating in the region, which are utilizing cutting-edge technology. The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by Technology, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.

Virtual Kitchen Market Scope: Inquire before buying

Virtual Kitchen Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 48.84 Bn.
Forecast Period 2021 to 2027 CAGR: 13.5% Market Size in 2027: US $ 118.5 Bn.
Segments Covered: by Component • Software • Services • Hardware • Others
by End-User • Commercial Space • Residential • Hospitality • Others

Virtual Kitchen Market, by Region

• North America • Europe • Asia Pacific • Latin America • The Middle East and Africa

Virtual Kitchen Market Key Players

• Homer TLC, Inc. • Clicky Media • The National Kitchen & Bath Association • Aetna, Inc. • Cawdor Stone Gallery • The Saturn Corporation • Micro-Star International • Dahmakan • DoorDash • Kitchen United • Kitopi • Rebel Foods • Zuul Kitchens, Inc. • Starbucks Coffee Company • Ghost Kitchen Orlando

Frequently Asked Questions:

1] What segments are covered in the Virtual Kitchen Market report? Ans. The segments covered in the Virtual Kitchen Market report are based on Component and End-User. 2] Which region is expected to hold the highest share in the Virtual Kitchen Market? Ans. The North American region is expected to hold the highest share in the Virtual Kitchen Market. 3] What is the market size of the Virtual Kitchen Market by 2027? Ans. The market size of the Virtual Kitchen Market is expected to be 118.5 Bn. by 2027. 4] What is the forecast period for the Virtual Kitchen Market? Ans. The forecast period for the Virtual Kitchen Market is 2021-2027. 5] What was the market size of the Virtual Kitchen Market in 2020? Ans. The market size of the Virtual Kitchen Market in 2020 was US$ 48.84 Bn.
1. Virtual Kitchen Market Size: Research Methodology 2. Virtual Kitchen Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Virtual Kitchen Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Virtual Kitchen Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Virtual Kitchen Market Size Segmentation 4.1. Virtual Kitchen Market Size, by Component (2020-2027) • Software • Services • Hardware • Others 4.2. Virtual Kitchen Market Size, by End-User (2020-2027) • Commercial Space • Residential • Hospitality • Others 5. North America Virtual Kitchen Market (2020-2027) 5.1. Virtual Kitchen Market Size, by Component (2020-2027) • Software • Services • Hardware • Others 5.2. Virtual Kitchen Market Size, by End-User (2020-2027) • Commercial Space • Residential • Hospitality • Others 5.3. North America Virtual Kitchen Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Virtual Kitchen Market (2020-2027) 6.1. European Virtual Kitchen Market, by Component (2020-2027) 6.2. European Virtual Kitchen Market, by End-User (2020-2027) 6.3. European Virtual Kitchen Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Virtual Kitchen Market (2020-2027) 7.1. Asia Pacific Virtual Kitchen Market, by Component (2020-2027) 7.2. Asia Pacific Virtual Kitchen Market, by End-User (2020-2027) 7.3. Asia Pacific Virtual Kitchen Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Virtual Kitchen Market (2020-2027) 8.1. The Middle East and Africa Virtual Kitchen Market, by Component (2020-2027) 8.2. The Middle East and Africa Virtual Kitchen Market, by End-User (2020-2027) 8.3. The Middle East and Africa Virtual Kitchen Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Virtual Kitchen Market (2020-2027) 9.1. Latin America Virtual Kitchen Market, by Component (2020-2027) 9.2. Latin America Virtual Kitchen Market, by End-User (2020-2027) 9.3. Latin America Virtual Kitchen Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Homer TLC, Inc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Clicky Media 10.3. The National Kitchen & Bath Association 10.4. Aetna, Inc. 10.5. Cawdor Stone Gallery 10.6. The Saturn Corporation 10.7. Micro-Star International 10.8. Dahmakan 10.9. DoorDash 10.10. Kitchen United 10.11. Kitopi 10.12. Rebel Foods 10.13. Zuul Kitchens, Inc. 10.14. Starbucks Coffee Company 10.15. Ghost Kitchen Orlando

About This Report

Report ID 66705
Category Food & Beverages
Published Date July 2020
Updated Date Feb 2022
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