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July 22, 2019, 9:08 a.m. EDT

Takeaway Food Market and Projected to Reach US$ 20.43 Billion Growing at CAGR 2.57% to 2023

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Jul 22, 2019 (Heraldkeepers) -- The term "take-away" food, describes a way of eating restaurant food outside the restaurant or a growing variety of prepared foods that consumers purchase from food stands and drive-in locations. The concept of takeaway food lies in the changing lifestyles and eating habits of people, who largely prefer takeaway food due to busy life schedule and increasing traffic congestion.

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The global takeaway food market is estimated to reach US$120.43 billion in 2023, growing at a CAGR of 2.57% for the period spanning from 2019 to 2023. The growth of the market has been driven by increased urbanization, increased usage of internet worldwide, expansion of fast food chains and increased household takeaway food expenditure.

Company Coverage of Takeaway Food Market: Just Eat PLC, Grubhub Inc., Takeaway.com, Delivery Hero, Domino's Pizza, Inc. and Uber Technologies Inc. (Uber Eats)

Some of the noteworthy trends of the industry includes emerging multicultural population, increasing use of online media, online market place convenience and industry consolidation. Key challenges include barriers to entry because of high logistical complexities and tedious development and implementation of systems that accept orders online. Setting up things turn out to be very expensive and time consuming for new players in the market.

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The US stood as the largest takeaway food market with highest revenue contribution owing to growing demand for online food ordering services in the region and also, the market is heading towards more efficient consumer experience, leading to larger consumer base.

The UK was the largest takeaway market within Europe attributable to rise in consumer demand for online food delivery services, increasing internet and smartphone penetration, budding food delivery culture and high food pricing. Germany was the second largest takeaway food delivery market in Europe after the UK. Online food delivery market is expected to hold growth opportunities in Germany coupled with increase in average order size and orders per active clients. Netherlands market has long run potential for attaining high market growth with greater adoption of online market place as an attractive option for food delivery.

Scope of the report:

The report provides a comprehensive analysis of the global takeaway food market.

The major regional markets (US, UK, Brazil, Germany and Netherlands) have been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (Just Eat PLC, Grubhub Inc., Takeaway.com, Delivery Hero, Domino's Pizza, Inc. Uber Technologies Inc. (Uber Eats)) are also presented in detail.

Key Target Audience:

  • Online Food Delivery Service Providers

  • Restaurants, Food Outlets & Fast Food Chains

  • Technology Providers

  • Consulting Firms

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