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NEW YORK, Oct. 21, 2022 /PRNewswire/ — The “Recipe Apps Market by End-user, Product type and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. According to the report, the market will observe an incremental growth of USD 421.03 millionaccelerating at a CAGR of 13.1% during the forecast period. North America is identified as the key growth region in the market. About 33% of the market growth is expected to come from this region during the forecast period. The increasing prevalence of chronic and non-chronic illnesses due to the adoption of sedentary lifestyles is driving the growth of the regional market. Understand how the purchase of the report can have a direct impact on your revenue. Download Free Sample PDF Report
The global recipe apps market is fragmented due to the presence of several large and small vendors. Vendors in the market compete among themselves to increase their market share based on solution differentiation, pricing, portfolios, and value-added services. They are also differentiating their Solutions and service offerings through a clear and unique value proposition. Major vendors in the market focus on marketing strategies such as partnerships and acquisitions to expand their customer base. All these factors are expected to increase the competition in the market during the forecast period.
Technavio identifies Aisle Ahead Inc., AJNS New Media GmbH, BuzzFeed Inc., Conde NastCookpad Inc., Discovery Inc., Dotdash Meredith, Forks over knives LLC, Glo Bakery Corp., Green Kitchen Stories, Immediate Media Co. Ltd., Le Creuset South Africa Pty Ltd., MAADINFO SERVICES Co., Paprika, SideChef Inc ., Weber Stephen Products HK Ltd., and Yummly Inc. as major market participants.
The market is driven by factors such as the growing number of vegan consumers, increasing demand for convenience in cooking, and the growing number of millennials interested in cooking. However, the need to comply with regulations will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The global recipe apps market is segmented as below:
- End-user
- Android
- IOS
The adoption of recipe apps will be significant among Android users over the forecast period. The Google Play Store has become a preferred platform for recipe apps over the few decades. This is mainly attributed to the growing use of android smartphones across the globe, which increases the demand for recipe apps. In addition, the increasing adoption of Android smartphones is contributing to the growth of the segment.
- Type
- Free Users
- Paid Users
The free recipe apps segment in the global recipe apps market is expected to witness significant growth during the forecast period. Free user apps are common in Android, iPhone operating systems (iOS), and Windows because they are far more accessible and easy to obtain than subscriptions or paid downloads.
- Geography
- North America
- Europe
- APAC
- South America
- The Middle East and Africa
North America will dominate the global recipe apps market in terms of revenue generation. The rising awareness about the need to live a healthy lifestyle and dietary habits among consumers will drive the growth of the recipe apps market in North America over the forecast period. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our recipe apps market report covers the following areas:
We provide a detailed analysis of around 25 vendors operating in the recipe apps market, including some of the dominant vendors. Backed with competitive intelligence and benchmarking, our research report on the recipe apps market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Technavio’s library includes over 17,000+ reports covering more than 2,000 emerging technologies. Subscribe to our “Basic Plan” at just USD 5,000 and get lifetime access to our Technavio Insights.
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist recipe apps market growth during the next five years
- Estimation of the recipe apps market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the recipe apps market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of recipe apps market vendors
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Full story available on Benzinga.com
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