Online Food Delivery and Takeaway Market
According to a new report published by Introspective Market Research, titled, “Online Food Delivery and Takeaway Market by Product Type, Price Range, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2024–2032,”
the global Online Food Delivery and Takeaway market size was valued at USD 26.42 Million in 2023, and is projected to reach USD 46 Million by 2032, registering a CAGR of 7.21% from 2024 to 2032.
Online food delivery applications have gained significant popularity globally, as an increasing number of customers choose to purchase their meals through the internet. The increased use of online food delivery services is due to the convenience of ordering meals over the internet. These options provide convenient ordering, a variety of food options, and the ability to monitor orders live. Online platforms help businesses showcase their products, attract customers, and improve customer retention through loyalty programs and promotions. They provide data insights, enabling businesses to optimize menus and operations for efficiency and profitability. The online food delivery and takeaway market also creates opportunities for delivery partners, ensuring timely and accurate deliveries. The market evolves due to technological advancements and evolving consumer demands, offering convenience, choice, and accessibility while providing new growth opportunities.
According to the Online Food Delivery and Takeaway Market is segmented into Product Type, Price Range, Distribution Channel, and region. By Product Type, the market is categorized into Veg and Non-Veg. By Price Range, the market is categorized into High, Mid, and Low. By Distribution Channel, the market is categorized into Fast Food Chain Restaurants, Online Channels, and Independent Restaurants. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Smartphone penetration and technological advancements are propelling the online food delivery and takeaway market to new heights. These innovations provide consumers with convenient platforms for ordering food, browsing menus, placing orders, and tracking deliveries in real time. Online food delivery platforms are broadening their offerings to include diverse cuisines, dietary preferences, and delivery options, attracting a wider customer base and enhancing user satisfaction. Features such as real-time order tracking, customizable meal options, and seamless payment methods significantly improve the user experience. Collaborations with local restaurants, food chains, and grocery stores provide a varied selection of food items. Advanced technologies like AI-driven recommendation systems and predictive analytics optimize order management, streamline delivery operations, and reduce delivery times, thereby enhancing operational efficiency and profitability.
Global Online Food Delivery and Takeaway Market, Segmentation
The Online Food Delivery and Takeaway market is segmented based on Product Type, Price Range, Distribution Channel, and Region.
Product Type:
The Non-Veg segment offers a wide range of meat-centric dishes, including steaks and chicken dishes, catering to the growing demand for convenience and a variety of flavors. Restaurants specializing in non-vegetarian fare leverage this demand by offering a diverse menu, seamless online ordering, and swift delivery services. These establishments are the go-to choose for customers seeking a hearty meal without the hassle of dining out, catering to the evolving tastes and preferences of consumers seeking a variety of irresistible flavors.
Distribution Channel:
The Online Channels segment offers a variety of restaurant options and user reviews, making it easier for consumers to make informed decisions. The pandemic has accelerated the adoption of online food delivery services, focusing on safety and contactless transactions. The segment includes platforms like food delivery apps, aggregator platforms, and restaurant-owned websites, utilizing advanced technology like mobile applications and AI-driven algorithms. Partnerships with restaurants and loyalty programs have contributed to the segment's growth. As consumer preferences evolve and digitalization becomes more ingrained, the Online Channels segment is expected to remain a dominant force in the online food delivery and takeaway market.
Region:
North America is a dominant force in the digital dining industry due to its tech-savvy population and sprawling urban centers. The region's efficient delivery networks enable swift food orders, enhancing customer satisfaction and loyalty. The diverse culinary scene, ranging from traditional favorites to innovative fusion cuisine, caters to a broad demographic. Online platforms capitalize on this diversity by offering extensive menus and customizable options, solidifying their market appeal.
Some of The Leading/Active Market Players Are-
- Uber Eats (United States)
- DoorDash (United States)
- Grubhub (United States)
- Postmates (United States)
- Caviar (United States)
- Seamless (United States)
- Deliveroo (United Kingdom)
- Foodpanda (Germany)
- Glovo (Spain)
- Rappi (Colombia)
- Just Eat Takeaway.com (Netherlands), and Other Active Players
Key Industry Developments
- In February 2024, Just Eat Takeaway.com extended its partnership with UEFA, strengthening its presence in major European football tournaments for another three years. This partnership was among the most extensive in UEFA's history, showcasing the company's dedication to both men's and women's football. All women's competitions were also sponsored separately under a different contract cycle. As a prominent global online food delivery company, Just Eat Takeaway.com prolonged its sponsorship of the UEFA Champions League, UEFA Europa League, and UEFA Europa Conference League until 2027. This extension encompassed support for a total of 11 UEFA competitions.
- In February 2024, Tata Group's digital arm, Tata Digital, had plans to integrate its Tata Neu food delivery app with India's Open Network for Digital Commerce (ONDC), as reported by MoneyControl. In February 2024, it was anticipated that the integration would undergo closed-user group trials soon, though it would take another month or more before becoming available to the broader public. This enhancement aimed to create a "high-frequency use case" to re-engage consumers with the app. Expanding beyond Taj, Tata Neu would offer food delivery from eateries within the ONDC network, supported by the Indian government's initiative.
Key Findings of the Study
- The global Online Food Delivery and Takeaway market was valued at USD 26.42 million in 2023 and is projected to reach USD 46 million by 2032, with a CAGR of 7.21% from 2024 to 2032, driven by the convenience and variety offered by online food ordering platforms.
- The market is segmented by product type (Veg and Non-Veg), price range (High, Mid, Low), and distribution channel (Fast Food Chain Restaurants, Online Channels, Independent Restaurants), with significant growth seen in regions like North America, Western Europe, and Asia-Pacific due to high smartphone penetration and technological advancements.
- Online food delivery platforms are enhancing user experience through features like real-time order tracking, customizable meal options, and seamless payment methods, alongside expanding their offerings to include diverse cuisines and dietary preferences.
