Online Takeaway Food Market Value(333.41 bn)-Volume Analysis | Forecast Period 2022-2032

The online takeaway food market has seen tremendous growth over the last few years due to the increasing adoption of smartphones and internet technology. The COVID-19 pandemic further fuelled this development as more people turned away from dining out in favor of online food delivery services. Here's an overview of the size of this growing sector:

In 2022, the global online food delivery market size was valued at USD 129.72 billion; forecasted growth over that period is a compound annual growth rate (CAGR) of 9.9% from 2022-2032, reaching an anticipated value of 333.41 billion by 2032.

Regionally, Asia Pacific is the leading market for online food delivery, accounting for over 50% of global market share. This is largely due to high population density, rising disposable income levels and an increasingly popular trend of ordering takeout in countries like China, India and Japan. North America and Europe follow closely behind with combined market shares of around 35% each.

According to business model, online food delivery markets can be split into two distinct categories: aggregators (direct delivery) and distributors (or intermediaries). Aggregators function as intermediaries between customers & restaurants. They offer a platform where restaurants can showcase their menus, while allowing customers to order food at multiple restaurants from one app. Direct delivery allows restaurants to manage their online ordering, delivery and billing systems directly without any intermediaries.

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Regional Snapshot

1. Asia Pacific: The Asia Pacific region is the fastest-growing market for online takeaway food ordering, driven by an increasing trend and high population density in countries like China, India and Japan. There are numerous delivery platforms operating here such as Meituan-Dianping, Ele.me, Zomato, Swiggy and Foodpanda.
2. North America: The North American online takeaway food market is dominated by the United States. Customers enjoy the convenience of ordering food online and have access to an extensive variety of choices. Major delivery platforms in the US include Uber Eats, DoorDash, Grubhub, and Postmates.
3. Europe: The European online takeaway food market is led by countries such as the United Kingdom, Germany and France due to an increasing demand for convenience and a wide variety of cuisines. Some major delivery platforms in Europe include Just Eat, Deliveroo, Uber Eats and Foodpanda.
4. Latin America: The Latin American online takeaway food market is growing rapidly due to the increasing use of smartphones and the internet. Brazil, Mexico, and Argentina are the primary regions for online food delivery services within Latin America; major platforms include iFood, Rappi, and Uber Eats.
5. Middle East and Africa: The online takeaway food market in the Middle East and Africa is growing due to the widespread adoption of smartphones and internet technology. Major markets include the United Arab Emirates, Saudi Arabia, and South Africa. Notable online delivery platforms in these regions include Talabat, Zomato, and Uber Eats.

Market Dynamics

Drivers

• Convenience: Online food ordering and delivery services offer customers the benefit of ordering food from their homes or offices, which has led to an increasing adoption of these services by busy working professionals.
• Increasing Adoption of Smartphones and the Internet: The rising adoption of smartphones and the internet is fueling growth in the online takeaway food market. Customers can easily access delivery platforms through mobile apps, making ordering food much simpler for everyone.
• Growing Demand for Variety and Customization: Customers today seek out a wide variety of food options as well as the option to customize their orders according to their preferences. Online food delivery platforms provide this flexibility by offering various cuisines and allowing customers to customize their orders based on their preferences.
• Rising disposable income: As disposable income rises, people tend to spend more on convenience services such as online food delivery. This trend is fueling the growth of the takeaway food market, particularly in developing countries.
• COVID-19 pandemic: The COVID-19 pandemic has seen a marked increase in the use of online food delivery services as people opt to order food without dining out, fuelling the growth of the takeaway food market.

Restraints

• Dependence on Third-Party Delivery Services: Online food delivery platforms often rely on third-party delivery services to deliver food to customers. Unfortunately, this dependence can lead to issues such as delays, mishandling of the food, and inadequate customer service.
• High competition and Low Profit Margins: The online takeaway food market is highly competitive, with several players vying for market share. This has led to a race to the bottom in terms of pricing as platforms offer discounts and promotions in an effort to draw customers in. Unfortunately, this fierce competition has left many players in this space with low profit margins.
• Infrastructure and Logistics Challenges: Delivering food on schedule and in good condition requires an efficient logistics and infrastructure network, especially in developing countries with weak infrastructure and distribution networks. This can be especially difficult in these situations.
• Regulations and Compliance: Online food delivery platforms must abide by several regulations related to food safety, hygiene, and labor laws. Failure to abide by these requirements could result in fines or legal action that could negatively affect the reputation and financial health of the platform.
• Changes in Consumer Preferences: Consumer preferences and trends can evolve quickly and unexpectedly. Online food delivery platforms must continuously innovate and adapt to these shifting consumer desires to remain competitive.

Opportunities

• Expansion into New Markets: The online takeaway food market has enormous potential to expand, particularly in developing countries where smartphone and internet adoption is growing rapidly.
• Diversifying Offerings: Online food delivery platforms can expand their services by entering new categories like groceries, medicine and other essential items. Doing so will allow them to expand their customer base and generate additional revenue streams.
• Integration with New Technologies: Online food delivery platforms can utilize cutting-edge technologies like artificial intelligence and machine learning to streamline their logistics systems, improve customer experiences, and personalize offerings.
• Partnerships and Collaborations: Online food delivery platforms can partner with restaurants and other foodservice providers to offer customers a wider selection of dishes. Furthermore, they may collaborate with other businesses to provide value-added services like loyalty programs and discounts.
• Sustainability and Eco-friendliness: Consumers are becoming more mindful about sustainability and eco-friendliness. Online food delivery platforms can differentiate themselves by offering eco-friendly packaging options and encouraging sustainable practices.

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Challenges

• High delivery costs: Delivery fees can be a significant obstacle for online food delivery platforms, particularly in areas with heavy traffic congestion or remote locations. These high expenses lead to lower profit margins for platforms and make it difficult to offer competitive pricing to customers.
• Food Safety Concerns: Food safety is a paramount concern for customers ordering food online. Online delivery platforms must guarantee that food is handled, prepared, and delivered in an hygienic manner; otherwise, health issues could arise and damage the reputation of the platform as a whole.
• Dependence on Aggregators: Many restaurants rely on aggregator platforms to reach customers, which may lead to higher commission fees and limited control over branding and customer relationships.
• Regulatory Challenges: The online takeaway food market is subject to regulations related to food safety, hygiene, labor laws and taxation. Complying with these requirements can prove a challenge for platforms, particularly in countries with complex regulatory frameworks.
• Customer Retention: With such fierce competition in the online food delivery market, customer retention can be a real challenge. In order to retain customers and foster loyalty towards your brand, online food delivery platforms need to offer an intuitive and personalized customer experience.

Key Market Segments

Type

• Restaurant-controlled
• Independent
• Mobile Apps
• Other

Application

• B2B
• B2C

Key Market Players 

• McDonalds
• KFC
• Subway
• Pizzahut
• Starbucks
• Burger King
• Dominos Pizza
• Dunkin Donuts
• Dairy Queen
• Papa John’s

Report Scope

Frequently Asked Question

Q: What is the current market size for the Online Takeaway Food Market?
A: According to a report by Market.us, the Online Takeaway Food Market was valued at USD 129.72 billion in 2022 and is expected to reach USD 333.41 billion by 2032, growing at a CAGR of 9.9% during the forecast period.

Q: What are the key segments of the Online Takeaway Food Market?
A: The Online Takeaway Food Market can be segmented based on Type (Restaurant-controlled, Independent, Mobile Apps, Other), By Application (B2B, B2C)and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).

Q: Who are the key players in the Online Takeaway Food Market?
A: Some of the key players in the Online Takeaway Food Market include McDonalds, KFC, Subway, Pizzahut, Starbucks, Burger King, Dominos Pizza, Dunkin Donuts, Dairy Queen, Papa John’s.