Global Cloud Kitchen Industry to Reach $2.3 Trillion Value by 2026
The global online food ordering industry maintains its rapid growth with a CARG of 9.8 % in a year per year time. Also known as “cloud” or “ghost” kitchen, the dark kitchen industry has already produced a tremendous impact on the food and drink market and transformed the business model of many retailers worldwide.The expanding trend will continue in the following years with the US as the leading player globally. According toPreciseSecurity.com research, the global cloud kitchen industry is expected to reach $2.3 trillion value by 2026.
US Cloud Kitchen Market Expected to Generate $972 Billion Revenue by 2026
A dark kitchen is a restaurant that doesn’t provide dine-in or takeaway services to customers. It is primarily virtual and is reliant on food delivery apps, and website portal orders to generate sales.
The 2019 data show this type of food delivery industry in the US generated $336 billion profit. The numbers shouldn’t surprise considering that an average US household spends nearly $3.500 per year on away-from-home meals. According to the surveys, the overall US dark kitchen market revenue is expected to almost triple during the following years, and reach $972 billion value by 2026.
Europe is the Second Largest Cloud Kitchen Market Globally
With the entire food delivery industry growing ten times faster than the traditional restaurant market, Europe will end in 2019 as the second-largest dark-kitchen region in the world. The surging popularity of companies like Uber Eats, Deliveroo, and DoorDash, has already encouraged many European restaurants to utilize the dark kitchen to decrease costs, boost revenue and speed-up the food delivery.
Compared with the US market, the European cloud kitchen industry generated 25 percent less profit in 2019 and will end the year with $253 billion in revenue. However, the recent surveys indicate that the overall industry profit is expected to reach $656 billion value over the next six years.
APAC Cloud Kitchen Market to Quadruple in the Next Six Years
Although the US will remain as the leading player on the global dark kitchen market, the APAC region will experience the most significant growth in the following years. That doesn’t surprise considering the culture of eating out which is present in the entire area. The 2019 surveys show that almost 27 percent of the people living in China dined out several times per week during this year, and nearly 19 percent of them did it at least once a week.
The Asia Pacific cloud kitchen market generated $198 billion profit in 2019, which is almost 40 percent less compared to the United States. Still, according to the surveys, the entire APAC cloud kitchen industry is expected to quadruple over the next six years and reach $699 billion value by 2026.