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).
Free Valuable Insights: The Meal Voucher Market is Predict to reach $102.6 Billion by 2030, at a CAGR of 6.1%
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
By Country
- US
- Canada
- Mexico
- Rest of North America
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
3.2 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
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
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Meal Voucher Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Meal Voucher Market
FIG 4 Porter’s Five Forces Analysis - Meal Voucher Market
FIG 5 North America Meal Voucher Market share by Product Type, 2022
FIG 6 North America Meal Voucher Market share by Product Type, 2030
FIG 7 North America Meal Voucher Market by Product Type, 2019 - 2030, USD Million
FIG 8 North America Meal Voucher Market share by Country, 2022
FIG 9 North America Meal Voucher Market share by Country, 2030
FIG 10 North America Meal Voucher Market by Country, 2019 - 2030, USD Million
FIG 11 SWOT Analysis: ACCOR SA
FIG 12 SWOT Analysis: Emburse, Inc.
FIG 13 SWOT Analysis: SPENDIT AG
FIG 14 SWOT Analysis: Alelo Inc
FIG 15 SWOT Analysis: Axis Bank Limited
FIG 16 SWOT Analysis: Asinta
FIG 17 SWOT Analysis: Circula GmbH
FIG 18 SWOT Analysis: CIRFOOD International
FIG 19 SWOT Analysis: Rakuten group, Inc.
FIG 20 SWOT Analysis: Swile