Takeaway Food Market Growth Outlook from 2024 to 2031 and it is Projecting at 7.9% CAGR with Market's Trends Analysis by Application, Regional Outlook and Revenue
Takeaway Food Introduction
The Global Market Overview of "Takeaway Food Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The Takeaway Food market is expected to grow annually by 7.9% (CAGR 2024 - 2031).
Takeaway food refers to prepared meals and dishes that are intended to be consumed off-premises, typically at home or on-the-go. The purpose of takeaway food is to provide convenient and quick meal options for individuals who may not have the time or resources to cook their own meals.
Some advantages of takeaway food include saving time and effort in meal preparation, convenience for those with busy schedules, a wide variety of food options to choose from, and the ability to enjoy restaurant-quality meals in the comfort of one's own home.
The takeaway food market has seen significant growth in recent years, driven by changing consumer preferences and lifestyles. With the rise of online food delivery services and mobile ordering apps, it has become easier than ever for customers to access a wide range of takeaway options. This increased accessibility has led to a booming market for takeaway food, with restaurants and food establishments expanding their offerings to cater to this growing demand.
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Market Trends in the Takeaway Food Market
- Online ordering and delivery platforms: Consumers are increasingly using mobile apps and websites to order takeaway food for convenience and ease of access.
- Healthier options: More consumers are seeking out healthier takeaway food options, leading to an increase in restaurants offering plant-based, gluten-free, and low-calorie meals.
- Ghost kitchens: These delivery-only kitchens are becoming more popular as they reduce overhead costs for restaurants and cater to the growing demand for takeaway food.
- Personalization and customization: Restaurants are offering more options for customization and personalization of takeaway orders, allowing customers to tailor their meals to their preferences.
- Contactless delivery: In response to the COVID-19 pandemic, contactless delivery options have become a new standard in the takeaway food market, providing a safe and hygienic way for customers to receive their food. Overall, the takeaway food market is expected to continue to grow as consumers seek convenient and personalized dining options.
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Market Segmentation
The Takeaway Food Market Analysis by types is segmented into:
- Veg
- Non-Veg
Takeaway food can be categorized into two types - vegetarian (Veg) and non-vegetarian (Non-Veg). Vegetarian takeaway options cater to individuals who follow a plant-based diet, while non-vegetarian options offer a variety of meat-based dishes. This diversity in menu options ensures that the takeaway food market can cater to a wide range of dietary preferences and restrictions, thereby increasing its overall demand. By offering both types of takeaway food, businesses can attract a larger customer base and boost sales in the competitive food industry.
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The Takeaway Food Market Industry Research by Application is segmented into:
- Fast-Food Chain Restaurants
- Online Channels
- Independent Restaurants
- Others
Takeaway food is utilized by fast-food chain restaurants, online channels, independent restaurants, and others to cater to customers who prefer eating at home or on-the-go. Fast-food chain restaurants offer a wide variety of takeaway options for customers to order and pick up quickly. Online channels allow customers to order food from their favorite restaurants and have it delivered to their doorstep. Independent restaurants also offer takeaway services to increase their revenue. The fastest growing application segment in terms of revenue is online channels, as more customers are turning to the convenience of ordering food online.
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Geographical Spread and Market Dynamics of the Takeaway Food Market
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The takeaway food market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa is experiencing significant growth due to changing consumer preferences, urbanization, and increasing disposable incomes. Key players in the market include Delivery Hero Holding, Foodpanda, Just Eat Holding, Takeaway, Grubhub, Domino's Pizza, Snapfinger, Pizza Hut, Foodler, Mobo Systems, and Zomato Media. Growth factors driving the market include the convenience of online ordering, a wide variety of food options, and technological advancements in delivery services. Market opportunities in these regions include expanding into new markets, offering healthier menu options, and leveraging social media and mobile apps for marketing and customer engagement.
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Takeaway Food Market Growth Prospects and Market Forecast
The expected CAGR for the Takeaway Food Market during the forecasted period is projected to be around 10-12%. Innovative growth drivers for this market include the increasing adoption of online ordering platforms and mobile applications, offering convenience and flexibility to consumers. Additionally, the growing trend of healthy and nutritious takeaway options is driving demand among health-conscious consumers.
To further increase growth prospects, takeaway food businesses can deploy innovative strategies such as leveraging social media influencers to promote their offerings, partnering with food delivery aggregators to expand their reach, and implementing sustainable packaging solutions to appeal to environmentally conscious consumers. Furthermore, investing in technology such as AI-powered ordering systems and robotics for food preparation can enhance efficiency and customer experience.
Trends that can drive growth in the Takeaway Food Market include the rise of ghost kitchens and virtual restaurants, as well as the increasing popularity of plant-based and vegan takeaway options. By embracing these trends and deploying innovative strategies, takeaway food businesses can capitalize on the growing demand for convenient and diverse food options, leading to accelerated growth in the market.
Takeaway Food Market: Competitive Intelligence
- Delivery Hero Holding
- Foodpanda
- Just Eat Holding
- Takeaway
- Grubhub
- Domino's Pizza
- Snapfinger
- Pizza Hut
- Foodler
- Mobo Systems
- Zomato Media
Delivery Hero Holding is a leading player in the takeaway food market, operating in over 40 countries globally. The company has shown strong growth in recent years, expanding its presence through strategic acquisitions and partnerships. One of Delivery Hero's innovative market strategies is its focus on technology, such as its advanced delivery tracking system and mobile app.
Foodpanda is another key player in the market, with a focus on providing a diverse range of food options to customers through its online platform. The company has seen steady revenue growth and market expansion, particularly in Asia and the Middle East. Foodpanda's innovative market strategies include leveraging data analytics to optimize delivery routes and improve customer experience.
Grubhub is a notable player in the US market, with a strong presence in major cities across the country. The company has differentiated itself through its partnerships with local restaurants and its focus on customer loyalty programs. Grubhub's innovative market strategies include a robust mobile ordering platform and an emphasis on sustainability initiatives.
Selected sales revenue figures:
- Delivery Hero Holding: $ billion
- Foodpanda: $200 million
- Grubhub: $1.3 billion
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