Meal Vouchers and Employee Benefit Solutions Market to grow by USD 23,155.63 million from 2022 to 2027 | Growth driven by tax benefits of meal vouchers – Technavio

NEW YORK, July 14, 2023 /PRNewswire/ — The meal vouchers and employee benefit solutions market size is set to grow by USD 23,155.63 million from 2022 to 2027, progressing at a CAGR of 4.95% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The tax benefits of meal vouchers are the key drivers supporting the meal vouchers and employee benefit solutions market growth. In most countries of the world, companies, organizations, or employers may provide an exemption from taxation when providing meal vouchers, food coupons, and prepaid meal cards as part of the employee’s salary structure. For instance, in India, the number of meal vouchers that an employee avails of is not included in the taxable salary. As per the Income Tax Department, Government of India, there are tax reductions for complimentary food and beverages provided to employees. These benefits helped the market to grow during the forecast period. –Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The meal vouchers and employee benefit solutions market covers the following areas:

Meal Vouchers And Employee Benefit Solutions Market Sizing
Meal Vouchers And Employee Benefit Solutions Market Forecast
Meal Vouchers And Employee Benefit Solutions Market Analysis

The report on the meal vouchers and employee benefit solutions market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

Leading Trend – The shift toward digital meal vouchers and employee benefit solutions is one of the key trends shaping the meal vouchers and employee benefit solutions market. The rising internet penetration rate in emerging countries, coupled with the increasing number of mobile Internet and smartphone adoption, has been the key reason for the shift toward digital wallets and payment methods. In addition, a few government agencies support the development of Internet infrastructure in various nations. This means new opportunities for the manufacturers and market players to increase their profits by innovating their products and services in tandem with the technological advancements in the industry. Favorable government policies also drive the adoption of digital payment modes is also driven by the favorable government policies and new regulations. Such regulations also encourage employees to use electronic or digital meal vouchers during the forecast period.

Significant Challenge – Data privacy and security issues are some of the factors hindering the growth of the meal vouchers and employee benefit solutions market.

For more insights on challenges – View Sample Report

Meal Vouchers And Employee Benefit Solutions Market 2023-2027: Market Segmentation

Technavio segmented meal vouchers and employee benefit solutions market by type (meal vouchers and employee benefits), product (non-cash voucher and cash voucher), and (geography Europe, South America, APAC, North America, and Middle East and Africa).

The market share growth by the meal vouchers segment will be significant during the forecast period. Meal vouchers are given to employees by their employers, which can be utilized to purchase food items from food service outlets or products from grocery stores. The tax regime’s tax exemption benefits are mainly responsible for the growth of the segment. In addition, meal vouchers are printed and distributed to employers or companies by meal voucher market players. Vendors allow employees with meal vouchers to save on tax, as many countries across the globe have specified tax exemptions on meal vouchers. These factors will drive market growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• Alelo
• Alera Group Inc.
• Axis Bank Ltd.
• Certify Inc.
• Circula GmbH
• CIRFOOD s.c.
• Edenred SE
• Electrum Fintech Solutions Pvt. Ltd.
• Empyrean Benefits Solutions Inc.
• Hrmony GmbH
• ICICI Bank Ltd.
• Monizze NV SA
• PayPal Holdings Inc.
• PIB Group Ltd.
• Set Corporate Services Inc.
• Sodexo SA
• SPENDIT AG
• SWILE
• The Up Group Ltd.
• UniCredit SpA
• Unum Group
• VA Tech Ventures Pvt. Ltd.
• Zaggle Prepaid Ocean Services Pvt. Ltd.

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial
• Customization options available as per your business needs
• Access to 17000+ research report subscriptions – Buy the Report!

Vendor Offerings

Alelo: The company offers meal vouchers and employee benefit solutions such as Alelo Benefit, a comprehensive employee benefits program including meal vouchers, transportation benefits, and more.

Axis Bank Ltd.: The company offers meal vouchers and employee benefit solutions such as Axis Meal Cards, a convenient solution providing meal allowances and employee benefits.

Certify Inc.: The company offers meal vouchers and employee benefit solutions such as Certify Employee Benefits, a platform providing digital meal vouchers and expense management tools for employees.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global meal vouchers and employee benefit solutions market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global meal vouchers and employee benefit solutions market 2017 – 2021 ($ million)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.3 Product Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Meal vouchers – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Meal vouchers – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Meal vouchers – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Meal vouchers – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Meal vouchers – Year-over-year growth 2022-2027 (%)

• 6.4 Employee benefits – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Employee benefits – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Employee benefits – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Employee benefits – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Employee benefits – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 44: Chart on Product – Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product – Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Non-cash voucher – Market size and forecast 2022-2027 
• Exhibit 48: Chart on Non-cash voucher – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Non-cash voucher – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Non-cash voucher – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Non-cash voucher – Year-over-year growth 2022-2027 (%)

• 7.4 Cash voucher – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Cash voucher – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Cash voucher – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Cash voucher – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Cash voucher – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product 
• Exhibit 56: Market opportunity by Product ($ million)
• Exhibit 57: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe – Market size and forecast 2022-2027 
• Exhibit 63: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.4 South America – Market size and forecast 2022-2027 
• Exhibit 67: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 Brazil – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Brazil – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on Brazil – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on Brazil – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Brazil – Year-over-year growth 2022-2027 (%)

• 9.9 France – Market size and forecast 2022-2027 
• Exhibit 87: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.10 Italy – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Italy – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Italy – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Italy – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Italy – Year-over-year growth 2022-2027 (%)

• 9.11 Japan – Market size and forecast 2022-2027 
• Exhibit 95: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.12 Spain – Market size and forecast 2022-2027 
• Exhibit 99: Chart on Spain – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Spain – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Spain – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Spain – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Alelo
• Exhibit 111: Alelo – Overview
• Exhibit 112: Alelo – Product / Service
• Exhibit 113: Alelo – Key offerings

• 12.4 Axis Bank Ltd.
• Exhibit 114: Axis Bank Ltd. – Overview
• Exhibit 115: Axis Bank Ltd. – Business segments
• Exhibit 116: Axis Bank Ltd. – Key offerings
• Exhibit 117: Axis Bank Ltd. – Segment focus

• 12.5 Certify Inc.
• Exhibit 118: Certify Inc. – Overview
• Exhibit 119: Certify Inc. – Product / Service
• Exhibit 120: Certify Inc. – Key offerings

• 12.6 Circula GmbH
• Exhibit 121: Circula GmbH – Overview
• Exhibit 122: Circula GmbH – Product / Service
• Exhibit 123: Circula GmbH – Key offerings

• 12.7 CIRFOOD s.c.
• Exhibit 124: CIRFOOD s.c. – Overview
• Exhibit 125: CIRFOOD s.c. – Product / Service
• Exhibit 126: CIRFOOD s.c. – Key offerings

• 12.8 Edenred SE
• Exhibit 127: Edenred SE – Overview
• Exhibit 128: Edenred SE – Business segments
• Exhibit 129: Edenred SE – Key news
• Exhibit 130: Edenred SE – Key offerings
• Exhibit 131: Edenred SE – Segment focus

• 12.9 Hrmony GmbH
• Exhibit 132: Hrmony GmbH – Overview
• Exhibit 133: Hrmony GmbH – Product / Service
• Exhibit 134: Hrmony GmbH – Key offerings

• 12.10 ICICI Bank Ltd.
• Exhibit 135: ICICI Bank Ltd. – Overview
• Exhibit 136: ICICI Bank Ltd. – Business segments
• Exhibit 137: ICICI Bank Ltd. – Key offerings
• Exhibit 138: ICICI Bank Ltd. – Segment focus

• 12.11 Monizze NV SA
• Exhibit 139: Monizze NV SA – Overview
• Exhibit 140: Monizze NV SA – Product / Service
• Exhibit 141: Monizze NV SA – Key offerings

• 12.12 PayPal Holdings Inc.
• Exhibit 142: PayPal Holdings Inc. – Overview
• Exhibit 143: PayPal Holdings Inc. – Product / Service
• Exhibit 144: PayPal Holdings Inc. – Key offerings

• 12.13 Set Corporate Services Inc. 
• Exhibit 145: Set Corporate Services Inc. – Overview
• Exhibit 146: Set Corporate Services Inc. – Product / Service
• Exhibit 147: Set Corporate Services Inc. – Key offerings

• 12.14 Sodexo SA
• Exhibit 148: Sodexo SA – Overview
• Exhibit 149: Sodexo SA – Business segments
• Exhibit 150: Sodexo SA – Key news
• Exhibit 151: Sodexo SA – Key offerings
• Exhibit 152: Sodexo SA – Segment focus

• 12.15 SPENDIT AG
• Exhibit 153: SPENDIT AG – Overview
• Exhibit 154: SPENDIT AG – Product / Service
• Exhibit 155: SPENDIT AG – Key offerings

• 12.16 The Up Group Ltd.
• Exhibit 156: The Up Group Ltd. – Overview
• Exhibit 157: The Up Group Ltd. – Product / Service
• Exhibit 158: The Up Group Ltd. – Key offerings

• 12.17 Unum Group
• Exhibit 159: Unum Group – Overview
• Exhibit 160: Unum Group – Business segments
• Exhibit 161: Unum Group – Key offerings
• Exhibit 162: Unum Group – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations 

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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