Changing in consumer’s demographic factors, eating habits along with busy schedule, advancement in information technology and availability of labor force have created demand and opportunity in food delivery industryin near future. Moreover, in today’s competitive business era, various companies are adopting differential marketing and sales strategies to enhance their customer base by directly delivering restaurant meals or creating a takeaway option for consumers. The delivery and takeaway food is undergoing rapid change as online platforms are getting more popularity among people who wish to dine food within the home and yet want the quality of restaurant’s meals. Thus, increasing demand for home delivery and fast foods have propelled the growth of delivery and takeaway food market during the forecast period.
Delivery and Takeaway Food Market:Drivers and Restraints
Delivery and takeaway food market is witnessing maximum growth owing to rise in busy lifestyle and hectic schedule of population, expanding urbanization, quick access to mobile phones, increasing use of m-Commerce, growing demand for hygiene fast foods, and expanding internet penetration for ordering food online has boosted various food chain restaurants to incline towards online distribution channels to enhance their overall sales. Moreover, effective supply chain for food delivery along with mergers & acquisitions in the food industry is some of the other factors that can boost the demand for delivery and takeaway food over the forecast period. However, unhealthy perception of fast foods among consumers, price war due to heterogeneous nature of the market, and food regulations by the regime for food safety & standards may hamper the growth of delivery and takeaway food market in near future.
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Delivery and Takeaway Food Market:Segmentation
The delivery and takeaway food market has been classified on the basis of product type, food price range, and distribution channel.
Based on product type, the delivery and takeaway food market is segmented into the following:
Based on food price range, the delivery and takeaway food market is segmented into the following:
Based on distribution channel, the delivery and takeaway food market is segmented into the following:
- Fast-Food Chain Restaurants
- Online Channels
- Independent Restaurants
Delivery and Takeaway Food Market:Overview
Delivery and takeaway food market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well in the near future owing to consumer preference for online ordering, growing online marketing strategies by companiesto connect with consumers, and consumers preference for hygiene & healthy food rather the fast food while placing an order. Moreover, demand for fresh food, quick home delivery, and easy accessibility are some of the factors that can accelerate the market revenue growth of delivery and takeaway food during the forecast period. Based on distribution channel, online channels are anticipated to grow at the significantly high CAGR over the forecast period. This is attributed to the convenient option to the customers w.r.t. transparency, easy mode of payment, high security and traceability of their order. Thus, various players are focussing on enhancing their tracking technology and delight consumer’s experience with home delivery and takeaway food with a view to engage more customers and create loyalty among them.
Delivery and Takeaway Food Market: Region-wise Outlook
Depending on geographic region, delivery and takeaway food market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia Pacific, and Middle East & Africa. North America dominates the delivery and takeaway food Marketowing to high presence of online food delivery service companies, rising demand for customization in food offerings, high acceptance of fast foods among consumers, intensive advertisement by key players for hygiene food home delivery services, presence of restaurant chains that offers home delivery services and growing demand for ready-to-eat products. Asia Pacific holds huge potential and shows substantial growth in terms of rising consumption of fast foods, increasing usage of m-Commerce, expanding advanced technology and internet penetrationand high presence of local players are some of the factors which strengthen the growth of delivery and takeaway food market throughout the forecast period.
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Delivery and Takeaway Food Market:Key Players
Some players of delivery and takeaway food market are Delivery Hero Holding GmbH, 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., and Zomato Media Private Limited.
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