Meal Vouchers & Employee Benefits Solutions Market to Grow at a CAGR of 7.47% Over 2025-2032; Rising Working Population to Propel Market Expansion

The global meal vouchers & employee benefits solutions market size was valued at USD 232.61 billion in 2024. The market is projected to grow from USD 245.80 billion in 2025 to USD 407.04 billion by 2032, exhibiting a CAGR of 7.47% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Meal Vouchers & Employee Benefits Solutions Market Size, Share & Industry Analysis, By Product Type [Meal Vouchers (Book Card and Digital Card) and Employee Benefits (Meal, Gift, Travel, and Others)], By Enterprise (Small, Medium, and Large), and Regional Forecast, 2025-2032”.

Meal vouchers and employee benefits are crucial ways businesses aim to enhance their employees' health and welfare. It includes aids ranging from travel and gift coupons, meal vouchers, and health-related policies. Some companies that actively provide meal cards, gift cards, and travel vouchers are Circula GmbH, Sodexo Group, and Edenred SA, among others.

The COVID-19 pandemic catalyzed market growth, driven by increased preferences for contactless transactions. The distribution of employee benefits became safer and more hygienic with e-vouchers as it eliminated the need for physical paper or card vouchers.

Empyrean Benefit Solutions Acquired Enspire to Manage Employee Benefits

In March 2023, a subsidiary of Securian Financial, Empyrean Benefit Solutions, based in Texas, U.S., acquired a platform named Enspire, which aims at employee engagement and communication. This would allow businesses to manage employee benefits and compassionate support services effectively.

Growing Working Population to Augment Market Growth

The increasing working population tends to influence the meal vouchers & employee benefits solutions market growth. This expansion in the workforce has enabled companies to recognize the importance of employee retention and motivation. For instance, according to the U.S. Bureau of Labor Statistics, the nation’s civilian labor force's participation rate had risen to 62.4% from 61.5% in March 2022 and 2021, respectively. Additionally, the growing importance of corporate wellness programs is predicted to propel the market to grow over the forecast period.

However, the growing cost of employee benefit solutions will hinder market growth.

Top Players Emphasize Collaborations and Partnerships to Strengthen Their Market Presence

The global meal vouchers & employee benefits solutions market is highly competitive, with major key players focusing on extending their partnerships and collaborations to enhance market reach and gain a competitive advantage. For instance, Edenred acquired the client portfolio of Cooper Card, a Brazil-based company, in May 2020. This would help the firm strengthen its position in the South American Market.

Notable Industry Development:

• December 2022: PIB Group Ltd. acquired the employee benefits entity of Creative Benefit Solutions Limited in the U.K. to bolster its employee benefits solution business.

List of the Companies Profiled in the Report:

• Edenred SA (France)
• Sodexo Group (France)
• Circula GmbH (Germany)
• CIRFOOD (Italy)
• Monizze NV SA (Belgium)
• Spendit AG (Germany)
• Alelo Brasil (Brazil)
• Axis Bank Ltd (India)
• Rakuten Group Inc. (Japan)
• Unum Group (U.S.)
• Cinqo Group (Bahrain)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/meal-voucher-and-employee-benefit-solutions-market-104412

Further Report Findings:

• Europe held the highest meal vouchers & employee benefits solutions market share, attributed to different key players thriving to expand their market presence in European countries through acquisitions actively.
• The market growth in North America is growing substantially due to various prominent players' presence and awareness of employee benefits across the U.S.
• The market expansion in Asia Pacific is predicted to grow rapidly due to the increasing number of working individuals and businesses across the region. Additionally, developing countries across the region provide huge opportunities for significant players in the market to grow.
• In terms of type, product type segment, the employee benefit segment dominates the market due to higher demand for employee benefit solutions to enhance employee satisfaction and motivation within the organization.  
• Based on enterprise, the large segment is predicted to dominate the market during the forecast period. This is due to a large workforce, showcasing a higher rate of employee benefits and meal voucher solution usage.

Table of Segmentation