South Korea Cloud Kitchen Market Outlook
According to a new report by Expert Market Research titled “South Korea Cloud Kitchen Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the South Korea cloud kitchen market grew significantly in 2023. Aided by the escalating demand for convenient food delivery services and a rapidly growing digital economy, the market is projected to further grow at a CAGR of 12.4% between 2024 and 2032.
Cloud kitchens, also termed as ghost or dark kitchens, refer to professional food preparation and cooking setups that cater solely to delivery orders. These establishments lack traditional dine-in areas and thrive on online orders, primarily via mobile apps or third-party delivery platforms. In the fast-paced urban lifestyle of South Korea, these kitchens are making headway by offering consumers a diverse range of culinary delights at the touch of a button.
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According to the South Korea cloud kitchen market analysis, the robust growth of the country’s cloud kitchen industry stems from the nation’s tech-driven population. With one of the highest smartphone penetration rates globally, South Koreans are rapidly adapting to app-based services, rendering the food delivery sector ripe for expansion. The allure of diverse food choices, coupled with the convenience of doorstep delivery, has significantly bolstered the cloud kitchen business model.
Further boosting the South Korea cloud kitchen market growth is country’s dense urban population, primarily in cities like Seoul, Busan, and Incheon. High real-estate costs and the challenges of maintaining expansive dine-in areas have led several restaurateurs to pivot towards the cloud kitchen model. This shift not only allows for efficient resource allocation but also provides a versatile platform to experiment with various culinary themes without incurring significant overhead costs.
Moreover, the rise of health and wellness trends among South Koreans, especially among millennials and Gen Z, is fostering a demand for specialised cuisine – be it vegan, organic, or diet-specific. Cloud kitchens, with their agile and adaptive model, are well-poised to tap into these niche market segments, offering curated menus that cater to these specific dietary preferences.
In addition, partnerships between cloud kitchens and leading food delivery platforms like Baemin and Yogiyo play a crucial role in influencing the South Korea cloud kitchen market outlook. These collaborations not only offer cloud kitchens a broader consumer base but also provide logistical support, ensuring that food reaches consumers swiftly and in optimal condition.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/south-korea-cloud-kitchen-market
Market Segmentation
The market can be divided based on type, product type, and nature.
Market Breakup by Type
- Independent Cloud Kitchen
- Commissary/Shared Kitchen
- Kitchen Pods
Market Breakup by Product Type
- Burger and Sandwich
- Pizza and Pasta
- Seafood
- Chicken
- Others
Market Breakup by Nature
- Franchised
- Standalone
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the market. Some of the major players explored in the report by Expert Market Research are as follows:
- Ghost Kitchen
- Simple Project Company Co., Ltd (WeCook)
- Monthly Kitchen Co., Ltd
- Others
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