PUBLISHER: KBV Research | PRODUCT CODE: 1432606
PUBLISHER: KBV Research | PRODUCT CODE: 1432606
North America Meal Voucher Market Size, Share & Trends Analysis Report By Product Type (Digital Card, and Book Card), By Country and Growth Forecast, 2023 - 2030
The North America Meal Voucher Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030).
The market refers to buying, selling, and using vouchers or coupons specifically designated for purchasing meals at participating restaurants, cafes, or food outlets. These vouchers are typically issued by employers to employees as part of their benefits package or by government agencies as a form of social benefit. Meal vouchers serve as non-monetary compensation or subsidy, allowing individuals to purchase food items up to a certain value or within specific guidelines. They often promote employee welfare, boost productivity, and support local restaurants or food businesses.
The market is a pivotal element bridging the requirements of sustenance, convenience, and corporate responsibility. The idea of meal vouchers, which can be traced back to the mid-20th century, has undergone significant development since its inception and is now a fundamental component of employee welfare initiatives, government assistance programs, and consumer-oriented economies across the region. At the core, the market encapsulates a dynamic ecosystem where vouchers or coupons, specifically tailored for the procurement of meals, seamlessly integrate with the demand for dining experiences, workplace culture, and socio-economic dynamics.
Canada's rising food and service industry drives the adoption and utilization of such programs among consumers, travellers, and hospitality providers. These offer a convenient, flexible, and value-added solution for managing dining expenses, enhancing the overall dining experience, and promoting culinary tourism in Canada's dynamic and diverse food landscape. As reported by Statistics Canada, the food services and drinking places subsector experienced a noteworthy 8.7% growth in sales, reaching a total of $8.0 billion in January 2023. There was growth observed in each of the industry's subsectors including full-service restaurants (9.5%), limited-service restaurants (8.6%), special culinary services (7.4%), and drinking establishments (1.8%). Every province experienced growth, with Ontario and British Columbia experiencing the greatest (+8.6% and 15.4%, respectively). Therefore, the expanding food service sector and urbanization propel the market's growth.
The US market dominated the North America Meal Voucher Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $21,246.3 million by 2030. The Canada market is experiencing a CAGR of 8.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.2% during (2023 - 2030).
Based on Product Type, the market is segmented into Digital Card, and Book Card. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- ACCOR SA
- Emburse, Inc. (Certify)
- SPENDIT AG
- Alelo Inc
- Axis Bank Limited
- Asinta
- Circula GmbH
- CIRFOOD International
- Rakuten group, Inc. (Gurunavi, Inc.)
- Swile
North America Meal Voucher Market Report Segmentation
By Product Type
- Digital Card
- Book Card
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Meal Voucher Market, by Product Type
- 1.4.2 North America Meal Voucher Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter's Five Forces Analysis
Chapter 4. Recent Strategies Deployed in the Meal Voucher Market
Chapter 5. North America Meal Voucher Market by Product Type
- 5.1 North America Digital Card Market by Country
- 5.2 North America Book Card Market by Country
Chapter 6. North America Meal Voucher Market by Country
- 6.1 US Meal Voucher Market
- 6.1.1 US Meal Voucher Market by Product Type
- 6.2 Canada Meal Voucher Market
- 6.2.1 Canada Meal Voucher Market by Product Type
- 6.3 Mexico Meal Voucher Market
- 6.3.1 Mexico Meal Voucher Market by Product Type
- 6.4 Rest of North America Meal Voucher Market
- 6.4.1 Rest of North America Meal Voucher Market by Product Type
Chapter 7. Company Profiles
- 7.1 ACCOR SA
- 7.1.1 Company Overview
- 7.1.2 Recent strategies and developments:
- 7.1.2.1 Partnerships, Collaborations, and Agreements:
- 7.1.3 SWOT Analysis
- 7.2 Emburse, Inc. (Certify)
- 7.2.1 Company Overview
- 7.2.2 SWOT Analysis
- 7.3 SPENDIT AG
- 7.3.1 Company Overview
- 7.3.2 SWOT Analysis
- 7.4 Alelo Inc
- 7.4.1 Company Overview
- 7.4.2 Recent strategies and developments:
- 7.4.2.1 Partnerships, Collaborations, and Agreements:
- 7.4.3 SWOT Analysis
- 7.5 Axis Bank Limited
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Recent strategies and developments:
- 7.5.4.1 Partnerships, Collaborations, and Agreements:
- 7.5.4.2 Product Launches and Product Expansions:
- 7.5.5 SWOT Analysis
- 7.6 Asinta
- 7.6.1 Company Overview
- 7.6.2 SWOT Analysis
- 7.7 Circula GmbH
- 7.7.1 Company Overview
- 7.7.2 Recent strategies and developments:
- 7.7.2.1 Partnerships, Collaborations, and Agreements:
- 7.7.3 SWOT Analysis
- 7.8 CIRFOOD International
- 7.8.1 Company Overview
- 7.8.2 SWOT Analysis
- 7.9 Rakuten Group, Inc. (Gurunavi, Inc.)
- 7.9.1 Company Overview
- 7.9.2 Financial Analysis
- 7.9.3 Segmental and Regional Analysis
- 7.9.4 Research & Development Expenses
- 7.9.5 SWOT Analysis
- 7.10. Swile
- 7.10.1 Company Overview
- 7.10.2 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Meal Voucher Market, 2019 - 2022, USD Million
- TABLE 2 North America Meal Voucher Market, 2023 - 2030, USD Million
- TABLE 3 North America Meal Voucher Market by Product Type, 2019 - 2022, USD Million
- TABLE 4 North America Meal Voucher Market by Product Type, 2023 - 2030, USD Million
- TABLE 5 North America Digital Card Market by Country, 2019 - 2022, USD Million
- TABLE 6 North America Digital Card Market by Country, 2023 - 2030, USD Million
- TABLE 7 North America Book Card Market by Country, 2019 - 2022, USD Million
- TABLE 8 North America Book Card Market by Country, 2023 - 2030, USD Million
- TABLE 9 North America Meal Voucher Market by Country, 2019 - 2022, USD Million
- TABLE 10 North America Meal Voucher Market by Country, 2023 - 2030, USD Million
- TABLE 11 US Meal Voucher Market, 2019 - 2022, USD Million
- TABLE 12 US Meal Voucher Market, 2023 - 2030, USD Million
- TABLE 13 US Meal Voucher Market by Product Type, 2019 - 2022, USD Million
- TABLE 14 US Meal Voucher Market by Product Type, 2023 - 2030, USD Million
- TABLE 15 Canada Meal Voucher Market, 2019 - 2022, USD Million
- TABLE 16 Canada Meal Voucher Market, 2023 - 2030, USD Million
- TABLE 17 Canada Meal Voucher Market by Product Type, 2019 - 2022, USD Million
- TABLE 18 Canada Meal Voucher Market by Product Type, 2023 - 2030, USD Million
- TABLE 19 Mexico Meal Voucher Market, 2019 - 2022, USD Million
- TABLE 20 Mexico Meal Voucher Market, 2023 - 2030, USD Million
- TABLE 21 Mexico Meal Voucher Market by Product Type, 2019 - 2022, USD Million
- TABLE 22 Mexico Meal Voucher Market by Product Type, 2023 - 2030, USD Million
- TABLE 23 Rest of North America Meal Voucher Market, 2019 - 2022, USD Million
- TABLE 24 Rest of North America Meal Voucher Market, 2023 - 2030, USD Million
- TABLE 25 Rest of North America Meal Voucher Market by Product Type, 2019 - 2022, USD Million
- TABLE 26 Rest of North America Meal Voucher Market by Product Type, 2023 - 2030, USD Million
- TABLE 27 Key Information - ACCOR SA
- TABLE 28 Key information - Emburse, Inc.
- TABLE 29 key Information - SPENDIT AG
- TABLE 30 Key Information - Alelo Inc
- TABLE 31 Key Information - Axis Bank Limited
- TABLE 32 Key Information - Asinta
- TABLE 33 Key Information - Circula GmbH
- TABLE 34 Key Information - CIRFOOD International
- TABLE 35 Key Information - Rakuten group, Inc.
- TABLE 36 Key Information - Swile
