by The online takeaway food market allows consumers to conveniently order a variety of takeaway food options directly from local restaurants via online platforms. Restaurants leverage these online platforms to reach more customers and grow their business without having to invest in establishing their own delivery fleet. Popular takeaway dishes ordered online include pizza, Chinese & south-east Asian food, fast food including burgers and fried chicken, desserts, and more. The online platforms provide easy payment options and live order tracking to enhance customer experience.
The global Online Takeaway Food Market is estimated to be valued at US$ 192.62 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of smartphones and internet penetration globally has boosted the online takeaway food delivery market substantially. People can now conveniently browse food delivery platforms on their smartphones and place orders with just a few taps. In addition, the ongoing trend of reducing kitchen time and reliance on ready-to-eat or prepared meals has further accelerated the demand for takeaway food orders online. Food delivery platforms are also investing in enhancing their technology and mobile interfaces to offer seamless user experience. This has encouraged more consumers to regularly order takeaway meals online rather than cooking at home. The market is also witnessing growing popularity of online food ordering during occasions and events to cater to bigger groups and families.
Porter’s Analysis
Threat of new entrants: The online takeaway market has moderate threat from new players entering the market as it requires significant investments in delivery logistics network and brand building.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as customers have various options to choose from and can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers like restaurants is moderate as they depend on online portals for additional sales growth.
Threat of new substitutes: The threat from substitutes like in-house cooking and takeaway from restaurants is moderate as online platforms provide added convenience.
Competitive rivalry: The competition in the online takeaway market is high as existing players compete on factors like delivery time, menu variety and pricing.
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$ 192.62 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.
Regional analysis related content: The Asia Pacific region dominates the market and is expected to maintain its leading position over the forecast period driven by high smartphone and internet penetration coupled with presence of key players in countries like China, India and Japan. Countries in Europe and North America are also major markets for online takeaway food attributed to busy lifestyles and high disposable incomes in these regions.
Key players related content comprises
Key players operating in the online takeaway food market are Epiroc Ab, AB Volvo (Volvo Construction Equipment), Doosan Corporation, Caterpillar Inc., and Deere & Company. With growing health-conscious population, major online takeaway brands are focusing on expanding their healthy food options to cater to changing consumer preferences.
