Restaurant Takeout Market With the restaurant takeaway market is expected to increase at a compound annual growth rate (CAGR) of 8.3% between 2022 and 2032, from US$ 2,199.4 billion in 2022 to US$ 4,024.9 billion in 2032.
Curbside pickup, delivery from robotic warehouses, and delivery from stores are only a few of the service patterns and fleet types that have lately proliferated. The Covid-19 outbreak may have had an impact on the global restaurant takeout industry.
Restaurants, grocery stores, and other food providers need to keep up with the latest developments in this area because of the fierce competition and substantial market potential in the takeaway restaurant business.
Along with other major trends and possibilities, increased urbanisation, global internet usage, the proliferation of fast-food chains, and rising household restaurant takeaway spending have all contributed to the growth of the restaurant takeaway business.
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The restaurant takeout market is on an upward trajectory, with a projected Compound Annual Growth Rate (CAGR) of 8.3% from 2022 to 2032, reaching a staggering US$ 4,024.9 billion by 2032 from US$ 2,199.4 billion in 2022. Despite the challenges posed by the Covid-19 pandemic, innovative service patterns like curbside pickup, delivery from robotic warehouses, and in-store delivery have fueled the industry’s growth.
Urbanization, global internet usage, the proliferation of fast-food chains, and increased household spending on restaurant takeout contribute significantly to this boom. Emerging multicultural populations, online media use, and market consolidation are driving adoption trends and shaping the future of the restaurant takeout market.
Key Takeaways:
- Europe holds a 19.7% market share in the restaurant takeout industry.
- Independent foodservice dominates with a 62.5% market share in the business type category through 2032.
- East Asia commands a significant 31.2% market share.
- The platform-to-consumer segment is expected to outperform the purchase model category by 2032.
- North America boasts a 23.3% market share, while Latin America holds 8.9%, and South Asia dominates with 11.3%.
Emerging multicultural populations, increased use of online media, online market place convenience, and restaurant takeout market consolidation are some of the restaurant takeout market adoption trends and restaurant takeout market future trends.
Barriers to entry into the restaurant takeout market are due to high logistical complexities, as well as the time-consuming development and implementation of systems that accept orders online, which are among the major challenges in the restaurant takeout market and restaurant takeout market key trends and opportunities.
For newcomers to the restaurant takeout market, getting things up and running can be very costly and time-consuming, which influences the emerging trends in the restaurant takeout market.
Competitive Landscape:
New market research report on restaurant takeout shows that the legacy players in the restaurant takeout market are concentrating on delivering solutions that meet specific needs, such as the installation of various technologies and the update and extension of current systems that will boost the restaurant takeout market key trends & opportunities.
The restaurant takeout market is dominated by Denny’s, Bob Evans, Biscuitville, Another Broken Egg Café, The Original Pancake House, First Watch, Village Inn, Huddle House, Perkins, Manchu Wok, HuHot Mongolian Grill, Mama Fu’s, Panda Express, Spaghetti Warehouse, Fazoli’s,appadeaux Seafood Kitchen.
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Recent Development in the Restaurant Takeout Market:
- In partnership with Beyond Meat, KFC (Yum! Brands, Inc.) became the first national U.S. quick service restaurant to test plant-based chicken in 2019. In collaboration with Beyond Meat, KFC introduced “Beyond Fried Chicken,” a plant-based chicken that debuted in a limited test series.
- In 2019, Dubai retailer Marka announced the opening of its first Deli Kitchen Restaurant in Dubai’s Design District, with the goal of providing free delivery to the Design District’s offices via WhatsApp ordering.
- Google announced in July 2020 that it had begun testing food delivery services in India, allowing customers to place orders directly through Google’s search engine. Dunzo, a third-party platform in the process of upgrading its systems, is expected to deliver. The feature is already available in the United States at orderfood.google.com, and users can use voice assistants to place orders.
Key Segments
By Meal Type:
- Breakfast
- Brunch
- Lunch
- High Tea
- Dinner
By Nature:
- Vegetarian
- Non Vegetarian
- Vegan
By Payment Type:
- Cash
- Debit Cards
- Credit Cards
- Digital Wallets
- Electronic Bank Transfers
By Business Type:
- Chained Foodservice
- Independent Foodservice
By Purchase Model:
- Direct-To-Consumer
- Platform-To-Consumer
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
- Emerging Countries
Frequently Asked Questions
- What is the CAGR of the Restaurant Takeout Market?
- Which is the Leading Region in the Restaurant Takeout Market?
- Which Segment Leads in the Restaurant Takeout Market by Business Type?
- What is the Growth Estimated for the Restaurant Takeout Market by 2032?
- Which are the Top 3 Leading Countries in the Restaurant Takeout Market?
Recent Developments:
- In 2019, KFC partnered with Beyond Meat, testing plant-based chicken, a pioneering move in the quick-service restaurant industry.
- Dubai’s retailer Marka opened a Deli Kitchen Restaurant in 2019, offering free delivery via WhatsApp ordering.
- Google initiated food delivery services in India in 2020, allowing orders through its search engine, showcasing the industry’s tech-driven evolution.
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