The online food delivery and takeaway market is poised for substantial growth, projected to reach a valuation of USD 28,295.9 million in 2024 and nearly doubling to USD 56,828.1 million by 2034. This impressive expansion at a CAGR of 7.20% is driven by the increasing reliance on online platforms for convenient meal solutions, particularly in emerging economies.
Post-pandemic lifestyle changes have heightened the demand for online food delivery and takeaway services. Urban populations, especially those with demanding schedules, find online platforms a convenient solution for quick and diverse meal options. The integration of technology and expanding internet access further fuels this trend, making it easier for people to order food online.
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Key Market Drivers – Online Food Delivery and Takeaway Market
- The rapid growth of urban populations, particularly in developing regions, has increased the demand for convenient meal options. Online food delivery provides a solution for those with limited time for cooking.
- Online platforms offer a wide range of restaurants, cuisines, and dietary preferences, catering to individuals living away from families who seek variety and convenience.
- Restaurants are increasingly joining online platforms to expand their customer base without significant marketing investments.
- The penetration of mobile phones and easy internet access have made online food ordering more accessible in urban and semi-urban areas.
Key Market Trends – Online Food Delivery and Takeaway Market
- Ghost kitchens and virtual restaurants, operating exclusively for delivery and takeaway, are on the rise, offering contactless delivery for safety and convenience.
- The market is responding to the trend of health-conscious eating by offering vegan, vegetarian, gluten-free, and keto options.
- Companies are focusing on sustainable packaging and eco-friendly delivery practices to cater to eco-conscious consumers.
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Competitive Landscape – Online Food Delivery and Takeaway Market
The market is highly competitive, with key players like Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Zomato, and Swiggy leading the way. These companies are leveraging exclusive offers, subscription-based services, and sustainable practices to attract and retain customers.
Recent Developments – Online Food Delivery and Takeaway Market
- Foodhub’s Partnership with MoEngage: In March 2022, Foodhub partnered with MoEngage to enhance customer engagement using AI-powered solutions, reducing basket abandonment and personalizing promotions.
- Just Eat Takeaway.com’s In-Car Ordering Service: In December 2023, Just Eat Takeaway.com announced a trial of an in-car food ordering service in Europe, set to launch in early 2024.
- Zomato’s Cinema Hall Deliveries: In March 2024, Zomato announced its venture into delivering food to cinema halls, following Swiggy’s introduction of train food delivery services.
Key Players – Online Food Delivery and Takeaway Market
- Uber Eats
- DoorDash
- Grubhub
- Swiggy
- Meituan Dianping
- Delivery Hero
- Deliveroo
- Ele.me
- Foodpanda GmbH
- Just Eat Holding Limited
- Takeaway.com Holding B.V
- Domino’s Pizza Inc.
- Snapfinger Inc.
- Pizza Hut Inc.
- Foodler Inc.
- Mobo Systems Inc.
- Zomato Media Private Limited
Key Segmentation – Online Food Delivery and Takeaway Market
- By Product Type: Vegetarian, Non-vegetarian
- By Price Range: High, Mid, Low
- By Distribution Channel: Fast Food, Chain Restaurants, Online Channels, Independent Restaurants, Others
- By Region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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