This Covid-19 Global Pandemic has proved that the Ghost Kitchen industry has now become unstoppable.
The experts have now started saying that the Ghost Kitchen Market Size will drastically increase after this pandemic.
In fact, a huge number of customers have already started taking advantage of this facility because nobody wants to put their lives at risk.
The customers now feel more comfortable having a meal at their home instead of visiting a restaurant.
Obviously, they cannot eliminate the outside food from their lives.
The online food delivery is a mega-trend that looks set to grow tenfold over the next decade. We think it’s possible that by 2030 most meals now cooked at home will instead be ordered online and delivered from restaurants or central kitchens. As we look to a future where consumers can tap a button and a drone delivers them a robot-cooked meal, we ask: Is the kitchen dead?
So, they have started ordering food from ghost kitchens instead of restaurants.
That’s the reason why ghost kitchen owners are now confident that ghost kitchen market size will dramatically go up in the coming years.
If you take a look at the stats of the previous quarter, you’d see that the ghost kitchen sales have increased significantly while the restaurant sales have gone down.
A survey shows that the Ghost Kitchen Market Size has reached up to US$ 3.4 Billion in the current year which is 20% higher than the previous years.
The experts believe that the ghost kitchen industry will reach a value of US$ 4.2 Billion by 2024.
So, it’s the perfect bet for those who want to start a ghost kitchen.
Ghost Kitchen Market Size Projections
- $35 Billion to $365 Billion – Expected growth between 2018 and 2030, respectively.
- 20% – Compound Annual Growth expected from 2018-2030
- 934% – Total expected growth by 2030
- $400 Million in 2018 – investment by the Saudi sovereign fund in CloudKitchens, Former Uber CEO and Founder Travis Kalanick’s ghost kitchen entity
- $15 Million in late 2019 – investment raised Muy, a ghost kitchen Chipotle-like brand
- 2018 – Founding of Kitchen United, Google Ventures-backed on demand delivery only kitchen.
- $150 Million.- Kalanick’s own 2018 investment in City Storage Systems, commercial real estate entity that buys and repurposes distressed commercial properties.
Banyan Hill reports that the ghost kitchen market size set to grow from $35 billion in 2018 to $365 billion by 2030.
Why Ghost Kitchen Market Size is Expected to Increase?
Let’s take a look at some important reasons why the size of the Ghost Kitchen industry is expected to go high in the coming years.
The ghost kitchens provide a higher level of satisfaction compared to traditional restaurants.
The ghost kitchen industry was gradually moving towards success in the past. But the recent global pandemic has ultimately changed the results.
The industry is now growing much faster than the past because customers find it more satisfying than traditional restaurants.
The ghost kitchens enable the customers to enjoy their favorite meal without having to travel for miles.
The appreciation this industry is getting from the customers is a clear sign that it will become bigger in the future.
Big Players in Delivery Only Restaurants
The Big Players of the food industry like Burger King and Starbucks are now endorsing this idea and they’ve started opening ghost kitchen branches in different areas.
It means they’ve realized that the ghost kitchens are the future of the food and beverage industry.
These big players will help with making this industry more successful and the small businesses will also be able to take advantage of this facility.
Ghost Kitchen Investors
The stats show that the investors have also started paying attention to the ghost kitchen market size because they can generate more profit from this industry as compared to the traditional restaurants.
Investors always stay one step ahead of others and they’re usually aware of industries that have the potential to grow bigger in the near future.
So, if the cloud kitchen investors are showing interest in this industry, it means the ghost kitchen market size is expected to increase in the coming years.
And you won’t face any problems while looking for investors to get funding for your business.