Online Food Delivery & Takeaway Market is Expected to Reach a Valuation of US$ 55,828.1 Million by the End of 2032

In 2022, the market for Online Food Delivery & Takeaway is projected to be worth US$27,695.9 million. The broad range of applications and rising online platforms are anticipated to be the market's main development factors. From 2022 to 2032, the market is expected to expand at a CAGR of 7.3%, reaching a projected total of about US$ 55,828.1 Million.

Changing in consumer's demographic factors, eating habits along with busy schedule, advancement in information technology and availability of labor force have created demand and opportunity in food delivery industryin near future. Moreover, in today's competitive business era, various companies are adopting differential marketing and sales strategies to enhance their customer base by directly delivering restaurant meals or creating a takeaway option for consumers.

The delivery and takeaway food is undergoing rapid change as online platforms are getting more popularity among people who wish to dine food within the home and yet want the quality of restaurant's meals. Thus, increasing demand for home delivery and fast foods have propelled the growth of delivery and takeaway food market during the forecast period.

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Delivery and Takeaway Food Market: Drivers and Restraints

Delivery and takeaway food market is witnessing maximum growth owing to rise in busy lifestyle and hectic schedule of population, expanding urbanization, quick access to mobile phones, increasing use of m-Commerce, growing demand for hygiene fast foods, and expanding internet penetration for ordering  food online has boosted various food chain restaurants to incline towards online distribution channels to enhance their overall sales.

Moreover, effective supply chain for food delivery along with mergers & acquisitions in the food industry is some of the other factors that can boost the demand for delivery and takeaway food over the forecast period. However, unhealthy perception of fast foods among consumers, price war due to heterogeneous nature of the market, and food regulations by the regime for food safety & standards may hamper the growth of delivery and takeaway food market in near future.

Key Segments of Online Food Delivery & Takeaway Industry Survey

Online Food Delivery & Takeaway Market by Product Type:

Veg
Non Veg

Online Food Delivery & Takeaway market by Price Range:

High
Mid
Low

Online Food Delivery & Takeaway Market by Distribution Channel:

Fast Food Chain Restaurants
Online Channels
Independent Restaurants
Others

Online Food Delivery & Takeaway Market by
Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Delivery and Takeaway Food Market: Overview

Delivery and takeaway food market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well in the near future owing to consumer preference for online ordering, growing online marketing strategies by companiesto connect with consumers, and consumers preference for hygiene & healthy food rather the fast food while placing an order.

Moreover, demand for fresh food, quick home delivery, and easy accessibility are some of the factors that can accelerate the market revenue growth of delivery and takeaway food during the forecast period. Based on distribution channel, online channels are anticipated to grow at the significantly high CAGR over the forecast period. This is  attributed to the convenient option to the customers w.r.t. transparency, easy mode of payment, high security and traceability of their order. Thus, various players are focussing on enhancing their tracking technology and delight consumer's experience with home delivery and takeaway food with a view to engage more customers and create loyalty among them.

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Delivery and Takeaway Food Market: Region-wise Outlook

Depending on geographic region, delivery and takeaway food market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia Pacific, and Middle East & Africa. North America dominates the delivery and takeaway food Market owing to high presence of online food delivery service companies, rising demand for customization in food offerings, high acceptance of fast foods among consumers, intensive advertisement by key players for hygiene food home delivery services, presence of restaurant chains that offers home delivery services and  growing demand for ready-to-eat products.

Asia Pacific holds huge potential and shows substantial growth in terms of rising consumption of fast foods, increasing usage of m-Commerce, expanding advanced technology and internet penetrationand high presence of local players are some of the factors which strengthen the growth of delivery and takeaway food market throughout the forecast period.

Delivery and Takeaway Food Market: Key Players

Some players of delivery and takeaway food market are Delivery Hero Holding GmbH, Foodpanda GmbH, Just Eat Holding Limited, Takeaway.com Holding B.V, Grubhub, Inc., Domino's Pizza Inc., Snapfinger, Inc., Pizza Hut Inc., Foodler Inc., Mobo Systems, Inc., and Zomato Media Private Limited.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, material and applications.

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Report Highlights:

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.