This report by Astute Analytica documents all the factors affecting the global Cloud Kitchen Market. The report encompasses various sections describing the prospects of the market growth or decline. This in-depth analysis includes both qualitative and quantitative analysis based on primary and secondary research. The study also contains a list of innovations and company strategies to maintain a strong foothold in the market.
The global food and beverage market size was US$ 0.83 billion in 2019. The global Cloud Kitchen Market is forecast to grow to US$ 2.23 billion by 2027 by registering a compound annual growth rate (CAGR) of 13.4% during the forecast period from 2022 to 2027.
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Factors affecting the global Cloud Kitchen Market include rising disposable income, growing demand for packed food products, and changing lifestyles of people. Furthermore, the rising population and increasing demand for food will also be opportunistic for the global market. For instance, according to Department of Agriculture, corn plantation is expected to increase to 93.3 million acres in 2021 from 90.8 million acres in 2020.
COVID-19 Impact Analysis
The COVID-19 pandemic positively affected the global food and beverage industry. The demand for packed food products surged during the COVID-19 pandemic. In addition to that, a sudden change in lifestyle and implementation of work-from-home further escalated the growth of the market. During the pandemic, comfort food emerged as a strong trend, as consumers turn to comfort food in times of stress. Moreover, the pandemic also increased the user base on online shopping platforms, and people started adopting online methods to get groceries. Restaurants began offering online services to abide by the regulations imposed by governments. Thus, it had been opportunistic for the industry players. This report by Astute Analytica thoroughly describes the effect of the COVID-19 pandemic on the Cloud Kitchen Market with precise data and statistics.
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Regional Insights:
This thorough report discusses the contribution of every region to the global Cloud Kitchen Market. Asia-Pacific is forecast to hold the highest market share in the global market, owing to the rising disposable income and changing lifestyles of the people in the region. Moreover, online platforms are gaining wide traction in this region. Thus, it will fuel the growth of this Asia-Pacific Cloud Kitchen Market. Further, the growing population and rising demand for packed food products will also be opportunistic for the global market.
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SOURCE Astute Analytica