Online Takeaway Food Market
The online takeaway food market is estimated to be valued at USD 20.32 Bn in 2024 and is expected to reach USD 51.17 Bn by 2031
BURLINGAME, CALIFORNIA, UNITED STATES, July 18, 2024 /
EINPresswire.com/ -- Market Overview:
The online takeaway food market mainly refers to online food delivery services that allow consumers to order meals from local restaurants and receive them at their homes or offices without any physical dining effort. This online food delivery service provides customers with a variety of menu options from hundreds of local restaurants and cloud kitchens at competitive prices.
Market Dynamics:
The online takeaway food market is witnessing high demand owing to two major drivers - rising adoption of smartphones and changing consumer lifestyles. Firstly, the increasing penetration of smartphones and internet connectivity has made online food ordering extremely convenient. People are now heavily dependent on their smartphones for day-to-day tasks, including grocery shopping, mobility services, and meal ordering. Secondly, hectic schedules and busy lifestyles have shifted consumer preference towards easy, quick & hassle-free meals. The online food delivery platforms are fulfilling this consumer demand by providing doorstep delivery within a short span of time. This has boosted the growth of the online takeaway food market over the forecast period.
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Two Major Market Drivers for the Online Takeaway Food Market:
Growth of Smartphone Usage and Mobile Apps Boosts Online Orders
The adoption rate of smartphones continues to grow rapidly across all demographics. Almost everyone now owns a smartphone and uses it on a daily basis. Food delivery apps have made it extremely convenient to browse menus, customise orders, and pay directly from the phone. This has significantly boosted the number of online orders for takeaway food. Restaurants too prefer phone/app orders as it cuts down on administrative and operational costs compared to call centre or walk-in orders.
One Major Market Opportunity for the Online Takeaway Food Market:
Increasing Adoption in Lower-Tier Cities Presents Massive Potential
Most online food delivery platforms initially focused on top-tier cities but are now aggressively expanding into lower-tier cities with a population of 1-3 million. These smaller cities still have very low penetration levels of online orders for food compared to metro cities. But incomes are rising fast and smartphone usage growing. This presents a massive opportunity to tap into the large untapped user base. Loyalty programs, specialized menus, lower delivery charges can help drive adoption faster in lower-tier cities. If online platforms are able to succeed here, it can exponential boost their order volumes and revenues over the next 5 years.
One Major Market Trend in the Online Takeaway Food Market:
Rise of "Dark Kitchens" and Low-Cost Centralized Kitchen Models
With razor-thin margins and high commission model of platforms, restaurants are increasingly adopting "cloud kitchens" or "dark kitchens" - centralized kitchen facilities specifically meant for delivery/takeaway orders. Here multiple restaurant brands/cuisines can cook out of one large professionally-designed kitchen at a much lower real estate and operational cost than operating individual restaurant kitchens. This centralized model allows restaurants to focus only on cooking and delivery, bringing down overall costs and boosting profitability even with platform commissions. It is becoming a major trend especially in tier-2 and tier-3 cities.
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Top Companies Featured in This Report:
★ Just Eat plc.
★ GrubHub
★ Delivery Hero SE
★ Takeaway.com
★ Foodpanda
★ Deliveroo
★ Uber Eats
★ Zomato
★ Swiggy
★ LimeTray
★ Delivery Hero SE
★ DoorDash
★ Domino's Pizza Inc.
★ Ele.me (Alibaba Group Holding Limited)
★ Grubhub
★ Papa John's International Inc.
Market Segmentation:
By Product Type:
★ North America: U.S., Canada
★ Latin America: Brazil, Argentina, Mexico, Rest of Latin America
★ Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
★ Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
★ Middle East & Africa: GCC Countries, Israel, South Africa, Rest of Middle East & Africa
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Online Takeaway Food Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Online Takeaway Food Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Online Takeaway Food Market?
📈 How does the market share of Online Takeaway Food Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Online Takeaway Food Market?
📈 Which segment of the Online Takeaway Food Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Online Takeaway Food sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn-
https://www.linkedin.com/in/priya-pandey-8417a8173/)
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