Meal Vouchers and Employee Benefit Solutions Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR43013
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The meal vouchers and employee benefit solutions market has the potential to grow by USD 14.64 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.62%.

This meal vouchers and employee benefit solutions market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (meal vouchers and employee benefits) and geography (Europe, South America, APAC, North America, and MEA). The meal vouchers and employee benefit solutions market report also offers information on several market vendors, including Alelo, Axis Bank Ltd., Cinqo Group, Edenred SA, Finnew Solutions Pvt. Ltd., Monizze NV SA, Sodexo Group, SPENDIT AG, The Up Group, and VR Beneficios among others.

What will the Meal Vouchers and Employee Benefit Solutions Market Size be in 2021?

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Meal Vouchers and Employee Benefit Solutions Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The tax benefits of meal vouchers is notably driving the meal vouchers and employee benefit solutions market growth, although factors such as data privacy and security issues may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the meal vouchers and employee benefit solutions market industry get your FREE report sample now.

  • The tax benefits of meal vouchers is one of the key reasons expected to boost the meal vouchers and employee benefit solutions market growth in the next five years.
  • Companies, organizations, or employers who provide meal vouchers, food coupons, or prepaid meal cards as part of the employees’ salary structure are exempt from tax in most countries across the globe.
  • The growing advantages of benefits and tax exemptions have helped the market grow exponentially in the past and will fuel the growth of the market.
  • Factors such as the growing rate of employment will drive meal vouchers and employee benefit solutions market during the forecast period.
  • Active participation of banks, one of the key meal vouchers and employee benefit solutions market trends, will influence the growth of the market.
  • Employee benefits are employment perks offered by employers to their employees during their service.
  • Employers partner with third-party product and service providers that can provide specialized benefit plans for their employees so that both employees and employers can save on tax.
  • The participation of banks is generally in their respective regions or countries.
  • Many corporates have permanent accounts with banks, and taking service from their banks helps them to manage employee benefits and meal vouchers more efficiently. 

This meal vouchers and employee benefit solutions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Meal Vouchers and Employee Benefit Solutions Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alelo
  • Axis Bank Ltd.
  • Cinqo Group
  • Edenred SA
  • Finnew Solutions Pvt. Ltd.
  • Monizze NV SA
  • Sodexo Group
  • SPENDIT AG
  • The Up Group
  • VR Beneficios

 

The meal vouchers and employee benefit solutions market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the meal vouchers and employee benefit solutions market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Meal Vouchers and Employee Benefit Solutions Market?

Meal-Vouchers-And-Employee-Benefit-Solutions-Market-Market-Share-by-Region-2020-2025

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33% of the market’s growth will originate from Europe during the forecast period. France, Italy, and Spain are the key markets for meal vouchers and employee benefit solutions in Europe. Market growth in this region will be faster than the growth of the market in MEA.

The evolving buying pattern of consumers, such as the preference for making online payments and digital payment methods will facilitate the meal vouchers and employee benefit solutions market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Meal Vouchers and Employee Benefit Solutions Market?

Meal-Vouchers-And-Employee-Benefit-Solutions-Market-Market-Share-by-Application-2020-2025

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The meal vouchers and employee benefit solutions market share growth by the meal vouchers segment will be significant during the forecast period. Meal vouchers allow employees to save on tax, as many countries globally have specified tax exemption on meal vouchers. Some of the vendors operating in the market in focus are expanding their service offerings by launching new meal vouchers.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the meal vouchers and employee benefit solutions market size.

 

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What are the Key Factors Covered in this Meal Vouchers and Employee Benefit Solutions Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive meal vouchers and employee benefit solutions market growth during the next five years
  • Precise estimation of the meal vouchers and employee benefit solutions market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the meal vouchers and employee benefit solutions industry across Europe, South America, APAC, North America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of meal vouchers and employee benefit solutions market vendors

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Meal Vouchers And Employee Benefit Solutions Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4%

Market growth 2021-2025

$ 14.64 billion

Market structure

Concentrated

YoY growth (%)

2.78

Regional analysis

Europe, South America, APAC, North America, and MEA

Performing market contribution

Europe at 33%

Key consumer countries

Brazil, France, Italy, Japan, and Spain

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alelo, Axis Bank Ltd., Cinqo Group, Edenred SA, Finnew Solutions Pvt. Ltd., Monizze NV SA, Sodexo Group, SPENDIT AG, The Up Group, and VR Beneficios

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The meal vouchers and employee benefit solutions market growth will increase by $27.81 billion during 2019-2024.
The meal vouchers and employee benefit solutions market is expected to grow at a CAGR of 5.93% during 2019-2024.
Technavio has segmented the meal vouchers and employee benefit solutions market by application (Meal vouchers and Employee benefits) and geographic (Europe, South America, APAC, and North America).
Alelo, Axis Bank Ltd., Cinqo Group, Edenred SA, Finnew Solutions Pvt. Ltd., Monizze NV SA, Sodexo Group, SPENDIT AG, The Up Group, VR Beneficios are a few of the key vendors in the meal vouchers and employee benefit solutions market.
Europe will register the highest growth rate of 35.73% among the other regions. Therefore, the meal vouchers and employee benefit solutions market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the meal vouchers and employee benefit solutions market growth are:
  • Tax benefits of meal vouchers
The meal vouchers and employee benefit solutions market vendors should focus on grabbing business opportunities from the meal vouchers segment as it accounted for the largest market share in the base year.
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