About Meal Vouchers & Employee Benefit Solutions
Meal vouchers allow employees to save on tax, as many countries globally have specified tax exemptions on meal vouchers. Some of the vendors operating in the market are focus and are expanding their service offerings by launching new meal vouchers. Fetch actionable market insights on the post-COVID-19 impact on each segment. An employee benefits solution is a benefits package to meet the needs of the company.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Companies in the market are concentrating on benefit solutions for employees and provide meal vouchers for their employees. In India, there are tax benefits for free food and beverages provided to employees. Food in office premises or through non-transferable paid vouchers usable only at eating joints provided by an employer which is not taxable. These benefits and tax exemption helped the market to grow exponentially in the past and will drive growth during the forecast period. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Meal Vouchers & Employee Benefit Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Edenred SA (France), Finnew Solutions Pvt. Ltd. (India), Sodexo Group (France), SPENDIT AG (Germany), The Up Group (United Kingdom), Axis Bank Ltd. (India), Swile (Brazil), VeriFone Inc.,(United States), VR Beneficios (Brazil), Zeta Services Inc.(United States) and VA Tech Ventures Pvt Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Zaggle Prepaid Ocean Services Pvt. Ltd. India, Domino's (United States) and Compass Group (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Meal Vouchers & Employee Benefit Solutions market by Type (Meal Vouchers, -Digital Meal Voucher, -Traditional Meal Voucher, Employee Benefits, -Meal, -Gift, -Travel and -Others), Application (Mobile Workforce, Volunteer Organizations, Training Centers & Recruiting and Others) and Region.
On the basis of geography, the market of Meal Vouchers & Employee Benefit Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Voucher, the sub-segment i.e. Cash Voucher will boost the Meal Vouchers & Employee Benefit Solutions market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Happy employees equal better productivity for the business and Active participation of banks
Market Growth Drivers:
Growing advantages of benefits and tax exemptions and The growing rate of employment
Restraints:
Data privacy, and security issues
Opportunities:
Active participation of banks and Benefits and tax exemption helped the market to grow exponentially
March 10, 2021: Sage announced the partnership with Edenred SA. This Embedded SA Company enables customers to pay vendors quickly, save hours on reconciliations, and reduce payment transaction costs.
Key Target Audience
Benefit Solutions and Suppliers and Manufacturer
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.