Takeaway Food Delivery Market - Forecast(2023 - 2028)

The Takeaway Food Delivery Market size is estimated to reach $187.7 billion by 2027, growing at a CAGR of 9.7% during the forecast period 2022-2027. Takeaway Food Delivery has noticed a soaring demand for online food delivery services. The online food delivery industry includes key players like Delivery Hero and others. The notion of the restaurant has undergone a transformation with the application of food delivery apps. Food delivery service is comparable to a courier service in which the ordered food is conveyed from the restaurant to the customer by restaurant staff or by delivery agents of a food ordering firm. One can order groceries online on websites like BigBasket or Amazon. The surging restaurants with food delivery services, specifically in developing economies are set to drive the Takeaway Food Delivery Market. The soaring demand for healthier takeaway alternatives like salads in Canada is set to propel the growth of Takeaway Food Delivery during the forecast period 2022-2027. This represents the Takeaway Food Delivery Outlook.

Takeaway Food Delivery Market Report Coverage

The “Takeaway Food Delivery Market Report - Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Takeaway Food Delivery Market.

by Type: Platform To Consumer Delivery, Restaurant To Consumer Delivery and Others.
by Payment Method: Online and Cash On Delivery.
by Geography: North America (the U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest Of The World (the Middle East and Africa).

Key Takeaways

• Geographically, North America (Takeaway Food Delivery market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to soaring living standards where one can order groceries online in North American region.
• Takeaway Food Delivery Market growth is being driven by the emerging count of smartphone and internet users across the world who can order groceries online. However, the greater cost of ordering food through food delivery apps is one of the major factors hampering the growth of the Takeaway Food Delivery Market.
• Takeaway Food Delivery Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Takeaway Food Delivery Market report.

Takeaway Food Delivery Market Segment Analysis - by Type

The Takeaway Food Delivery Market based on type can be further segmented into Platform To Consumer Delivery, Restaurant To Consumer Delivery and Others. The Platform To Consumer Delivery Segment held the largest Takeaway Food Delivery market share in 2021. This growth is owing to the surging application of the platform to consumer delivery resulting in raised customer base. The heightened orders, minimum overhead costs and convenience to customers are further propelling the growth of the Platform To Consumer Delivery segment.

Furthermore, the Restaurant To Consumer Delivery segment is estimated to grow with the fastest CAGR of 10.1% during the forecast period 2022-2027 owing to the provision of restaurants entirely owning the delivery of orders and orders being placed through a restaurant website, over a call or a restaurant mobile app.

Takeaway Food Delivery Market Segment Analysis - by Payment Method

The Takeaway Food Delivery Market based on the payment method can be further segmented into Online and Cash On Delivery. The Online Segment held the largest Takeaway Food Delivery market share in 2021. This growth is owing to the spiraling application of online websites and mobile apps by interested customers belonging to Generation Z, also termed digital natives, to place orders online and get the food delivered to their doorstep. The emergence of digital banking like net banking is further propelling the growth of this segment.

Furthermore, the Online segment is estimated to grow with the fastest CAGR of 10.3% during the forecast period 2022-2027 owing to the snowballing application of google pay, credit cards and debit cards for electronic payment by digitally proficient customers of the older generations too.

Takeaway Food Delivery Market Segment Analysis - by Geography

The Takeaway Food Delivery Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America (Takeaway Food Delivery Market) held the largest Takeaway Food Delivery market share with 39% of the overall market in 2021. The growth of this region is owing to the existence of the online food delivery service industry in the North American region. The soaring trials with novel food delivery techniques like self-driving cars are further propelling the growth of  Takeaway Food Delivery, thereby contributing to the Takeaway Food Delivery Outlook, in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is owing to factors like emerging fast-food consumption in the Asia-Pacific region. The heightening application of m-commerce is further fuelling the progress of the Takeaway Food Delivery Market in the Asia-Pacific region.

Takeaway Food Delivery Market Drivers

The surging Potential of Food Delivery Services is Projected to Drive the Growth of the Takeaway Food Delivery Market:

Presently, there are numerous diners that enter the food business depending on food delivery apps. They do not possess a place to serve food or a restaurant. There is no furniture, however, just a kitchen. The benefit of food delivery apps is that one can have food dispatched to any portion of the country and at times, the world. Zomato, Uber Eats and FoodPanda are certain recognized food delivery service apps. UberEats functions in above 1,000 cities across the globe. The surging potential of food delivery service is therefore fuelling the growth of the Takeaway Food Delivery Market during the forecast period 2022-2027.

Soaring Innovative Approaches to Enhance Food Delivery Apps Startups are Expected to Boost the Growth of the Takeaway Food Delivery Market:

As per “Key Online Food Ordering Statistics” on Enterprise App Today, 34% of consumers expend $50 to order food online. Food orders may be performed by applying a virtual assistant like Apple Siri and Google Assistant for iOS and Android respectively. The food delivery apps may be made to back inputs from virtual assistants smoothly. This creative feature is accessible in Dominos and additional top food apps. The soaring innovative approaches to enhance food delivery app startups are therefore driving the growth of Takeaway Food Delivery, thereby contributing to the Takeaway Food Delivery Outlook during the forecast period 2022-2027.

Takeaway Food Delivery Market Challenges

Limitations of the Online Food Delivery Industry are Hampering the Growth of the  Takeaway Food Delivery Market:

Whether it is boiling hot or heavily raining, deliverymen put themselves in danger to deliver the food. Social interactions made in a restaurant are missing in the case of online orders pertaining to the Online Food Delivery Industry. The quality of food is at times substandard. In a case reported on Swiggy in Alberta, Canada, the franchisee had to pay a sum of $5,000 to Swiggy as damages for denting their prestige. These issues are thus hampering the growth of the Takeaway Food Delivery Market.

Takeaway Food Delivery Industry Outlook

Novel product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the  Takeaway Food Delivery Market. The top 10 companies in the Takeaway Food Delivery market are:

1. Zomato
2. Swiggy
3. Uber Eats
4. DoorDash
5. Takeaway.com Holding B.V.
6. Foodpanda GmbH
7. Domino’s Pizza Inc.
8. Pizza Hut Inc.
9. Delivery Hero
10. Deliveroo

Recent Developments

• In October 2021, Delivery Hero gained Hugo's food and grocery delivery verticals. It extended its footprint in Central America and the Caribbean. Hugo is a chief food delivery app in Central America.
• In August 2021, Delivery Hero gained a 5% stake worth £284m in Deliveroo. Deliveroo shares leaped 11% to 360p. This is the highest since the firm went public in March at 390p a share.
• In February 2020, Delivery Hero indicated that it would purchase 8.4 million supplementary shares of Just Eat Takeaway.com. This would be performed by entering into a forward share purchase agreement. Just Eat Takeaway.com was built by Takeaway’s $7.8 billion acquisition of Just Eat.

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