Global Online Cooking Class Market is Expected to Grow at a CAGR of 9.24% over the Forecast Period, Owing to the Awareness and Rising Demand Of Online Segment, says Reports N Markets

 2021-11-27 05:56:45
 

Food is indispensible for any living being; people have been found to evolve on their thoughts of cooking classes. Predominantly one would earlier connote cooking classes only for professional chefs who are under training to work at a food industry dedicated establishment. However, with the rise of general inquisitiveness amongst many on for example – how to prepare a 3 course vegan meal, cuisines from various parts of the world, etc., one could find a rising demand in cooking classes globally.

Individuals gradually became aware of the diaspora of growing restaurant businesses and otherwise that came with the profitability of engaging in cooking classes.

The hospitality industry has been found to have a steady growth, with many individuals taking interest to begin new ventures that provide unique cooking classes and other related services with it. The trend for supporting local business, for example - home cooked meals or baking businesses have surged in recent times, as these individuals aim to reduce the manufacturing and maintenance costs that usually restaurants or fast food chains would invoice.

Cloud kitchens have also become the current trend of cooking business amongst many. These type of kitchens are commercial facilities built with a purpose, i.e to produce food, specifically for delivery. For example, such cloud kitchens work through the medium of application on your phone or otherwise, where one could facilitate thousands of new connections between food entrepreneurs looking for a commercial kitchen to expand their business or existing commercial kitchens.  

And with the COVID-19 pandemic, many had to adapt and shift their business models entirely online. Many cooking enthusiasts are also using the platform to better their skills by attending cooking classes from renowned chefs or cook just from a click away and at the comfort your homes.

The detailed research study provides qualitative and quantitative analysis of global online cooking class market being analysed from demand as well as supply side. The analysis covers market revenue of demand side from across all the major countries. While it also analyses the supply side covering major market players from regional presence and strategies. The study covers geographical analysis on each of the major countries across North America, Europe,Asia Pacific, Middle East & Africa and Latin America,

Key Findings of the Report:

  • The global online cooking class market was valued at US$ 785.39 Mn in 2020 and is anticipated to reach US$ 1731.59 Mn by 2029 growing at a CAGR of 9.24% over the forecast period (2021 – 2029). Surge in the demand of awareness about online cooking class systems has increased businesses and classes depending on the interest of the end-user.
  • By pricing, global online cooking class marked the highest growth annually in 2020.
  • Group training marked the highest global cooking class market share in 2020 compared to individual/private training.
  • Beginner level of global online cooking classes saw the fastest growth in the forecast period, while expert level was found to have the highest market share in 2020.
  • The business segment vis-à-vis the end users outlook, accounted for the major market share in the global online cooking class market in 2020.
  • Among the outlook of type of cuisine, Indian cuisine marked the fastest growing variety of food to be learnt during global online cooking classes over the forecast period, while few other cuisines had the highest market share in 2020.
  • Global online cooking class market among the group size from 151 to 200 saw the fastest growth among the forecast period.
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