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The online takeaway food market is witnessing exponential
growth owing to the rising demand for quick, hassle-free and home delivery
services. With hectic schedules and busy lifestyles, people are increasingly
relying on online platforms to order meals from nearby restaurants. Online food
ordering offers convenience in terms of comparing menus, reading reviews,
tracking orders and paying digitally without waiting on call. Food items like
pizza, Chinese, Continental and Indian cuisines are the most preferred takeaway
choices.
The global
Online Takeaway Food Market is estimated to be valued at US$ 167.2 Bn in 2023
and is expected to exhibit a CAGR of 34% over the forecast period 2023 to 2030,
as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of online ordering is one of the major trends
driving the growth of the online takeaway food market. With rising internet and
smartphone penetration, more people are using online platforms to order meals
from nearby restaurants. The ease and convenience of online platforms as
compared to physical visits or calls to restaurants has boosted their
popularity substantially. Furthermore, features like cash-on-delivery, loyalty
programs, specialized apps and live order tracking have made online food
ordering an integral part of the on-the-go lifestyle. This shift towards
digital convenience is expected to accelerate the market growth over the
forecast period.
Segment
Analysis
The global
online takeaway food market is dominated by the food delivery sub-segment. This
is because online food delivery services provide consumers with the utmost
convenience in ordering meals from their favorite restaurants without having to
physically visit the restaurant. The food delivery sub-segment has gained
immense popularity in recent years as it allows users to choose from a diverse
selection of cuisines available on food aggregator platforms and apps.
Key Takeaways
The Global
Online Takeaway Food Market Size is expected to witness high growth.
The global Online Takeaway Food Market is estimated to be valued at US$ 167.2 Bn in 2023 and is expected to
exhibit a CAGR of 34% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the online
takeaway food market and is projected to remain the fastest growing regional
market over the forecast period. Countries like China, India, and Japan have
emerged as major lucrative markets for online food delivery and takeaway
services due to rising disposable incomes, increasing internet penetration, and
growing dependence on online platforms for ordering daily meals.
Key players related content comprises: Key players operating in the online
takeaway food market are Jon-Don LLC., LG Electronics., Appliance Laundry
Systems LLC., Electrolux Group, ECOLAB, among others.
Get more insights on this topic:
https://www.dailyprbulletin.com/online-takeaway-food-market-insights-trends/
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