Exclusive Offers Are Attracting New Consumers to the Online Food Delivery and Takeaway Market, FMI Anticipates a CAGR of 7.20% through 2034

The growth of online food delivery and takeaway driven by people's desire for convenience and a wider variety of food options, especially post-pandemic. It's also creating new trends like ghost kitchens catering specifically to delivery orders.

NEWARK, Del, March 21, 2024 (GLOBE NEWSWIRE) -- According to the latest industry analysis, the market size for online food delivery and takeaway is estimated to be around US$ 28,295.9 million in 2024. It is projected to exhibit a CAGR growth of 7.20% over the forecast period, with an estimated market size of US$ 56,828.1 million in 2034.

The post-pandemic world has brought about a shift in the way people order food. Seeking comfort and convenience, individuals all around the world are increasingly relying on demand for online food delivery and takeaway services. This trend has given rise to a diverse range of options, restaurants, cuisines, and preferences for people living away from their families.

The growth of online food delivery and takeaway platforms has also led to the rise of ghost kitchens and virtual restaurants. These entities cater exclusively to delivery and takeaway orders. Restaurants are offering contactless delivery options to ensure food safety and convenience. In response to the growing demand for online-ordered food, restaurants are also joining these platforms to reach a wider customer base.

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The ongoing trend of health-conscious dietary habits has also influenced the online food delivery and takeaway market. Online food delivery platforms are also offering vegan, vegetarian, gluten-free, and keto options to cater to the demands of people with specific dietary preferences.

With the widespread use of mobile phones and easy access to the internet, people in urban and semi-urban setups are increasingly relying on these platforms for their everyday meals. The use of AI and machine learning algorithms is also improving personalized recommendations, making the online food delivery experience more enjoyable and seamless. These food delivery applications focus on sustainable packaging and eco-friendly delivery practices to meet the needs of 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

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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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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