The increased demand for quick delivery of freshly prepared food is Escalating the Growth of the Online Food Delivery and Takeaway market
Published: Dec, 2022
The adoption of online delivery is growing all over the world as a result of the growth of various food delivery. Additionally, the market is anticipated to experience significant growth opportunities due to the food delivery platforms' significant integration of smart AI and smart technology for customer convenience. The latest technological trends in the online food delivery industry, such as food delivery by robots and drones, are also anticipated to spur market growth shortly. Due to increased consumer demand for online food delivery as a result of restrictions, online food delivery service providers have seen a significant increase in revenue and online orders since the COVID-19 pandemic. During the outbreak, restaurants and different food chains used online food delivery services more frequently to facilitate both delivery and takeout, which furthers the market's expansion.
According to Marketlook Consulting’s research report “Global Online Food Delivery and Takeaway Market Analysis, 2021”, the Global Online Food Delivery and Takeaway market is anticipated to grow at a CAGR of 15.4% during 2022-29 The market would reach USD 245.5 Bn by 2029.
Based on the Operating outlook, the Online Food Delivery and Takeaway market is segmented into Restaurant-to-Consumer and Platform-to-Consumer. In 2021, the platform-to-consumer type segment dominated the market.
Based on Distribution Channels, the market is segmented into fast food chain restaurants, independent restaurants, online channels, and others. The fast-food chain restaurant grabbed the significant market share in 2021.
“Global Online Food Delivery and Takeaway Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Online Food Delivery and Takeaway providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia Pacific Dominated the Market
Asia Pacific accounted for the largest revenue share of the global market in 2021, and it is anticipated that the region will experience the highest CAGR between 2022 and 2029. The market is expanding owing to the growing demand from China, Japan, and India. The region's expanding middle class, rising per capita income, expanding retail food industry, and rising spending on food delivery are the main drivers of market growth, as stated in the Marketlook Consulting research report “Global Online Food Delivery and Takeaway Market Analysis, 2021”.
According to Marketlook Consulting’, the key players with a considerable market share in the global Online Food Delivery and Takeaway market are Doordash Inc., Takeaway.com Group B.V., Roofoods Limited (Deliveroo), Delivery Hero SE, Uber Technologies Inc., Zomato Limited, Domino’s Pizza, Inc., Papa John's International, Inc., Waiter.com, Inc., Swiggy Pvt Ltd.
Market Segmentation:
- By Operating Type (Restaurant-to-Consumer, Platform-to-Consumer)
- By Distribution Channel Type (Fast Food Chain Restaurants, Independent Restaurants, Online Channels, Others)
- By Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
- By Company (Doordash Inc., Takeaway.com Group B.V., Roofoods Limited (Deliveroo), Delivery Hero SE, Uber Technologies Inc., Zomato Limited, Domino’s Pizza, Inc., Papa John's International, Inc., Waiter.com, Inc., Swiggy Pvt Ltd.)
Key questions answered in the study:
- What are the current and future trends of the Online Food Delivery and Takeaway industry?
- How the industry has been evolving in terms of operating outlook and distribution channels?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Online Food Delivery and Takeaway industry?
- What is the customer orientation, purchase behavior, and expectations from the Online Food Delivery and Takeaway firms across various regions?