Meal Vouchers & Employee Benefits Solutions Market to Surge at a CAGR of 7.24% from 2024 to 2032; Alera Group Acquired Core Benefit Solutions to Consolidate their Presence in the U.S.

The global meal vouchers & employee benefits solutions market size stood at USD 221.99 billion in 2023. The market value is slated to rise from USD 232.61 billion in 2024 to USD 407.04 by 2032 at a CAGR of 7.24% during 2024-2032. 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)], and Regional Forecast, 2024-2032”.

Meal vouchers & employee benefits solutions are used for maintaining motivation levels among their employees. Sodexo Group, Circula GmbH, and other industry players offer various solutions. The industry expansion is being propelled by the escalating adoption of e-vouchers for providing these benefits. The vouchers offer the ease of accessibility and usage, boosting product adoption.

The COVID-19 pandemic led to a shift in work patterns, leading to considerable changes in the deployment of traditional benefits associated with working from office locations. These factors along with digitalization severely impacted the industry during the period.   

AtYourGate Introduces Digital Meal Voucher Program for Travelers Facing Flight Disruptions

In October 2021, AtYourGate rolled out its digital meal voucher program, enabling travelers dealing with flight disruptions to use their airline-issued vouchers for food orders through an app or online platform, with direct delivery to their departure gate. The program is presently undergoing testing with United Airlines at Denver International Airport, with future plans for expansion to other airlines and airports in the following months.

Market Value to Surge Owing to Escalating Number of Corporate Wellness Programs

The increasing number of corporate wellness programs is anticipated to favor meal vouchers & employee benefits solutions market growth over the coming years. These programs centralize the significance of a healthy lifestyle and are aimed at boosting employee productivity and engagement. The inclusion of meal vouchers in these programs helps meet these objectives. This has been observed as employees are more likely to be focused and motivated at work when they feel that their employer is concerned about their health.

However, issues pertaining to data security when using digital vouchers could hamper product adoption.

Strategic Move Bolsters Employee Benefits Solutions Portfolio and Geographical Reach

Key players in the meal vouchers and employee benefits solutions market are expanding their geographical reach through partnerships and collaborations to strengthen their competitive edge. For instance, Edenred acquired the client portfolio of Brazil-based Cooper Card in May 2020, emphasizing employee benefits solutions, with the strategic goal of enhancing its position in the South American market.

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List of Key Players:

• 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)   

Key Industry Development

• July 2021 – Alera Group entered an agreement for the acquisition of Core Benefit Solutions. The deal would help in consolidating Alera’s presence in the U.S. Alera is specialized in the provision of wealth management and insurance services.

Further Report Findings:

• Europe stood at USD 72.86 billion in 2023 and the regional meal vouchers & employee benefits solutions market share accounted for a prominent position in the market. The regional growth is favored by the expansion of the hotel and hospitality infrastructure.


• Asia Pacific is set to depict significant expansion owing to the huge workforce in the region. Key players are centered on entering collaborations for providing their clients with value-added solutions, which boosts product adoption.


• The South American market for meal vouchers & employee benefits solutions is poised to expand owing to the increasing rate of female participation in the workforce. Besides, the region records the presence of key companies such as Monizze Nv SA, VR Beneficios, and others, which creates a favorable ground for industry expansion.


• By product type, the market is segmented into employee benefits and meal vouchers.
  
  
  
  • The employee benefits segment registered a key share of the market in 2023. This can be attributed to the soaring demand for an extensive range of solutions such as mental health services, medical insurance, coupons, gift hampers, and other offerings.
  
  
  • The meal vouchers segment is touted to expand at a rapid rate over the study period. The vouchers offer the flexibility of dining at preferred restaurants, which is one of the key factors driving the segment growth. This convenience is expected to help improve employee engagement.
  
  
  
  

Table of Segmentation