Market Overview
The global cloud kitchen market was valued at USD 64.47 billion in 2023 and is expected to expand from USD 70.18 billion in 2024 to USD 144.71 billion by 2032, reflecting a CAGR of 9.47% during the forecast period. Asia Pacific led the market in 2023, holding a 47.59% share, driven by the region's growing demand for online food delivery and virtual restaurant concepts.
Cloud kitchens, also known as virtual restaurants, are created to supply food through delivery. The rapid expansion of the e-commerce industry and rising adoption of online food delivery services by Generation Z and the millennial population due to their convenience are propelling market expansion.
List of Key Players Profiled in the Market Report
Segments
Standalone Segment Dominates the Market Due to Rise in New Kitchen Operators
By nature, the market is bifurcated into franchised and standalone. The standalone segment accounts for the highest cloud kitchen market share owing to a surge in new kitchen operators in the cloud kitchen industry. Increased business owners’ interest in this new sector is also fueling segment expansion.
Multi-Kitchen Segment Leads the Market due to Surging Preference for Specialized Food Products
On the basis of kitchen type, the market is divided into single and multi-kitchen. The multi-kitchen segment commands the market due to a surging preference for specialized food products and cuisines globally. In the multi-kitchen business model, food is prepared for numerous brands in one kitchen hub and offered to consumers as per their requirements.
From the regional ground, the market is classified into Europe, South America, North America, Asia Pacific, and the Middle East & Africa.