India Cloud Kitchen Market to Establish Market Value Over USD2.5 Billion By 2028F
India Cloud Kitchen Market is expected to show robust
growth due to rising disposable income in the forecast period, 2018-2028.
According to TechSci Research report on, “India Cloud
Kitchen Market, By Region, Competition
Forecast & Opportunities, 2018 - 2028”, India
cloud kitchen market may achieve market value over USD2.5 billion by 2028F
growing with a CAGR ranging from 15.5% to 17.5% during the forecast period,
2024-2028. Demands for online food delivery and pre-cooked meals are the major
factors driving the growth of the India cloud kitchen market in the upcoming
five years. Growing e-commerce sector and expanding food & beverage
industry is also majorly responsible for the growth of the India cloud kitchen
market in the next five years. Rising consumer’s preference toward fast food,
restaurant made meals, etc. over dining experience in home or in restaurants is
also aiding the growth of the India cloud kitchen market in the future five
years. Moreover, the recent pandemic conditions created completed lockdown
situation, and visiting the restaurants, and cafes for get-together, or to
share meals become impossible. The inclination toward online food delivery
services further thrived during the pandemic situation, with confirmations from
the food delivery service providers that the meal preparation was hygienic, and
the delivery agents were vaccinated.
Furthermore, rising
disposable income among the population of the country, tendency for
over-expenses on food is also substantiating the growth of the India cloud
kitchen market in the forecast years through 2028. Growing use of internet-based
services, online payment feasibility, and secured payment pathways have also
aided to the growth of the India cloud kitchen market growth and would further
support market growth in the forecast period.
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The India cloud kitchen market segmentation is based on type, source of
order, payment method, regional distribution, and competitional landscape.
Based on type, the market is differentiated between independent/ standalone
cloud kitchen and chained cloud kitchen. Chained cloud kitchen is anticipated
to hold the largest revenue shares of the market and dominate the market
segment in the upcoming five years on grounds of aggressive promotions and
advertisement provided to them. Brand promotions and their established
businesses in the country are a major factor driving their growth. The
consumers are inclined toward reviewed and approved food outlets over random
kitchens and thus aiding the growth of the market segment. Rising investment in
the sector and rapidly growing numbers of outlets of the chained cloud kitchen
also supports the growth of the India cloud kitchen market in the future five
years.
By source of order, the market is distinguished between web and mobile
apps. Mobile apps are anticipated to hold the largest revenue shares of the
market and dominate the market segment in the upcoming five years due to increasing
numbers of the mobile & internet-based application that provide better user
experience for the potential customers. Rising installation of these mobile
apps and the counting numbers affirm the growth of the segment in the next five
years. Better graphic user interface, app-based advantages like premium
subscriptions, and discounted prices of the food further aids the growth of the
India cloud kitchen market in the future five years. Web based sources of
orders also register significant growth with increased internet penetration and
rising internet users in the country.
Based on payment method, the market is bifurcated into cash on
delivery, mobile wallet, card transaction, and others. Mobile wallets may lead
the market segment with highest revenue shares of the market in the upcoming
five years on account of increased usage of the payment portals. One tap
payments and growing dependency of the consumers over mobile wallet also play
vital role in the market expansion. Cash on delivery may also register
significant growth due to accessibility for the consumers preferring the
method. Various discount options based on payment mode also substantiate the
growth of the India cloud kitchen market in the next five years.
A partial list of market players in the field includes:
·
Rebel Foods Private Limited
·
Sky Gate Hospitality Pvt. Ltd. (Biryani By Kilo)
·
Masalabox Food Network Pvt. Ltd.
·
Poncho Hospitality Pvt. Ltd. (MOJO Pizza)
·
Soba- Asian Kitchen
·
Cheferd Foods Private Limited
·
Gustasi Chef
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“E-commerce sector is expanding rapidly. The industry growth has
influenced the retails and FMCG industry, food & beverage industry. Cloud
kitchens are relatively new concept, but its expansion has been aided by the
expanding e-commerce sector preferably. With growing demands, the market
players have adopted various strategies like free delivery services, premium
subscription to food delivery mobile applications providing discounted rates,
etc. The India cloud kitchen market would further grow with rising dependency
over online payment portals. Cashless payments are rapidly growing and with
payment portals being promoted by the government, service availability and
affordability as enhanced thus further aiding the market growth. New market
players may invest in promotions and aggressive advertisement and may
collaborate with the existent food delivery service providers such that
distribution of their product becomes easier and efficient and helps in the
future brand establishment,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“India Cloud Kitchen Market By
Type (Independent/ Standalone Cloud Kitchens, Chained Cloud Kitchens), By
Source of Order (Web Vs Mobile App), By Payment Method (Cash on Delivery,
Mobile Wallet, Card Transaction, Others), By Region, Competition Forecast &
Opportunities, 2028” has
evaluated the future growth potential of India cloud kitchen market and
provides statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in India cloud kitchen market.
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