According to the latest industry analysis, the market size for online food delivery and takeaway is poised for exponential growth, with a projected valuation of USD 56,828.1 million by 2034, according to recent market research. Fueled by increasing urbanization, changing consumer preferences, and technological advancements, the market presents attractive opportunities for investors seeking high-growth sectors.
The market, currently valued at USD 28,295.9 million in 2024, is forecasted to develop at a robust CAGR of 7.20% from 2024 to 2034. This significant growth trajectory is driven by several key factors, including the rising demand for convenient and affordable food options, expanding online platforms, and the integration of AI and machine learning algorithms.
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Market Trends:
- Ghost Kitchens and Virtual Restaurants: The emergence of ghost kitchens and virtual restaurants is reshaping the online food delivery landscape. These establishments operate exclusively for delivery and takeaway orders, offering contactless delivery options and diverse cuisines to consumers.
- Health-Conscious Dietary Habits: The trend of health-conscious dietary habits is influencing online food delivery platforms to offer healthier options such as vegan, vegetarian, and gluten-free meals. Sustainable packaging and eco-friendly delivery practices are also gaining traction among eco-conscious consumers.
“The world is continuously pushing toward sustainability. Companies in the online food delivery and takeaway market must embrace sustainable packaging and delivery practices to cater to the demands of eco-conscious consumers” – Nandini Roy Choudhury, Client Partner at Future Market Insights
Key Takeaways from the Market Study:
- The non-veg segment is set to dominate the online food delivery and takeaway market with a share of 89.40% in 2024.
- Based on the price range, the low segment is on track to lead the online food delivery and takeaway industry with a share of 55.30% in 2024.
- The online food delivery and takeaway industry in China is anticipated to develop at a CAGR of 3.90% through 2034.
- The online food delivery and takeaway industry in Germany is estimated to rise at a 5.10% CAGR through 2034.
- The online food delivery and takeaway market in the United States has the potential to increase at 4.20% CAGR through 2034.
- The Japan online food delivery and takeaway industry is predicted to rise at a 6.40% CAGR through 2034.
- The online food delivery and takeaway industry in India is very likely to inflate at a CAGR of 6.90% through 2034.
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Competitive Landscape:
The online food delivery and takeaway market is highly competitive and dominated by several prominent companies are
- Uber Eats
- DoorDash
- Grubhub
- Swiggy
- Meituan Dianping
- Delivery Hero
- Deliveroo
- Ele.me
- Foodpanda GmbH
- Just Eat Holding Limited
- Takeaway.com Holding B.V
- Grubhub Inc.
- Domino’s Pizza Inc.
- Snapfinger Inc.
- Pizza Hut Inc.
- Foodler Inc.
- Mobo Systems Inc.
- Zomato Media Private Limited
Company Practices
- These companies are constantly coming up with exclusive offers and discount plans to attract more consumers to their platforms.
- To stay competitive in the market, these companies are also embracing sustainable packaging and delivery practices, which is a positive step towards reducing their environmental impact.
- Key players are offering additional coupons and cashback to customers if the food is not delivered within the promised time, which is a great way to improve customer satisfaction and loyalty.
Recent Developments:
- In March 2022, Foodhub partnered with MoEngage to improve customer engagement using AI-powered solutions.
- In Dec 2023, Just Eat Takeaway.com announced plans to trial an in-car food ordering service in Europe.
- In March 2024, Zomato started delivering food to cinema halls after Swiggy announced train food delivery services.
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Key Segments in the Global 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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