The global takeaway food market is expected to grow at a compound annual growth rate (CAGR) of 7.62% from 2023 to 2030, reaching a value of US$ 800.12 billion by 2030. The report presents the research and analysis provided within the Takeaway Food Market Research is meant to benefit stakeholders, vendors, and other participants in the industry. This report is of Pages long. The Takeaway Food market is expected to grow annually by magnificent (CAGR 2023 - 2030).
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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Takeaway food orders are made via telephone, restaurant websites and apps, online restaurant places, and dine-ins. The US stood as the largest takeaway food market with highest revenue contribution, whereas, the UK was the largest takeaway market within Europe. Growth of the market was driven by increased urbanization, increased usage of internet worldwide, and rising use of mobile internet. Some of the noteworthy trends of the industry includes emerging multicultural population, online market place convenience and strategic mergers and acquisitions.
Takeaway Food Market: Drivers and Restraints:
The report provides valuable information on the production costs, supply chain dynamics, and raw materials that are essential to the Takeaway Food market. It also analyses the impact of COVID-19 on the industry and provides recommendations on how businesses can adapt to the changing market conditions. The report identifies key market restraints, such as economic constraints in emerging countries and business market obstacles. By understanding these risks and challenges, businesses can develop strategies to mitigate them and achieve long-term success in this exciting and dynamic industry.
Key Takeaways:
The global takeaway food market is expected to grow at a compound annual growth rate (CAGR) of 7.62% from 2023 to 2030, reaching a value of USD 800.12 billion by 2030.
The key drivers of this growth include:
Increasing urbanization and busy lifestyles
Rising disposable incomes
Growing popularity of online food delivery services
Increasing demand for healthy and convenient food options
The Asia Pacific region is expected to be the fastest-growing market, with a CAGR of 9.2% from 2023 to 2030. This growth is attributed to the region's large and growing population, rising urbanization, and increasing disposable incomes.
Regional Outlook:
North America is the largest takeaway food market, followed by Europe and Asia Pacific.
The Asia Pacific region is expected to be the fastest-growing market, with a CAGR of 9.2% from 2023 to 2030.
The Latin America and Middle East & Africa regions are also expected to experience significant growth over the forecast period.
Key Players:
McDonald's Corporation
Burger King Worldwide Inc.
Domino's Pizza
Yum Brands Inc.
Subway
Starbucks Corporation
Chipotle Mexican Grill, Inc.
Panera Bread Company
Jack in the Box Inc.
Wendy's International Inc.
Pizza Hut
Segmentation:
The takeaway food market can be segmented by type, distribution channel, and region.
Type:
Fast food
Casual dining
Fine dining
Street food
Others
Distribution Channel:
Online food delivery
Restaurant pickup
Convenience stores
Others
Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa