Order Takeaway Online Market to Reach USD 22.5 Billion by 2032, Says Market.us Research Study

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Updated · Mar 21, 2023

Order Takeaway Online Market to Reach USD 22.5 Billion by 2032, Says Market.us Research Study

Market Overview

Published Via 11Press: The order takeaway online market was estimated to be worth USD 6.8 billion in 2022 and was expected to reach its peak value of USD 22.5 billion by 2032 at a compound annual growth rate (CAGR) of 13% between 2022 and 2032.

In recent years, the order takeaway online market has seen remarkable growth due to consumers’ growing preference for convenience and time-saving solutions. There is now a range of platforms and mobile applications that enable customers to order food and drinks from various restaurants and food outlets. These interfaces provide customers with an intuitive interface so they can browse menus, select items, and place orders with often home delivery or pick-up available.

The online food ordering and delivery market has seen tremendous growth over the past few years and is expected to keep on this trajectory in the years ahead. The COVID-19 pandemic has also contributed to this expansion as more consumers opt for contactless delivery options. Nonetheless, competition among companies is fierce; companies compete on factors such as delivery times, pricing, and restaurant range available on their platforms. Moreover, companies invest in technology in order to enhance user experience with features like real-time tracking of orders and customized recommendations based on consumer preferences.

One of the newest trends in this market is the implementation of artificial intelligence and machine learning to personalize user experiences and provide more tailored recommendations. Furthermore, eco-friendly practices like biodegradable packaging materials and electric delivery vehicles have become popular. Overall, experts predict that online food ordering and delivery will continue its upward trajectory over the coming years due to factors such as increasing consumer demand for convenience, changing lifestyles, and the growing popularity of online platforms for ordering food.

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Key Takeaways

  • The order takeaway online market is expected to experience continued growth over the coming years, as more consumers opt for digital platforms for food ordering and delivery services.
  • The market is fiercely competitive, with both established and emerging players fighting for market share.
  • Factors driving growth include increasing convenience demands, rising mobile device adoption rates, and the growing acceptance of online food delivery services.
  • Key challenges faced by market participants include maintaining quality and consistency in food offerings, managing delivery logistics, as well as dealing with concerns around food safety and hygiene.

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Regional Snapshot

  • North America: This region of the US is one of the largest for ordering takeaway online, boasting numerous established players and high levels of consumer adoption for these services.
  • Europe: The European market is a major player in the order takeaway online space, boasting several major platforms operating throughout the region.
  • Asia-Pacific: The Asia-Pacific region is one of the fastest-growing markets for online order takeout, boasting increasing adoption levels and an array of new players.

Drivers

  • Convenience: Order takeaway online platforms offer consumers a time-saving solution, enabling them to browse menus and place orders from the comfort of their own homes or while on the go.
  • Mobile Adoption: The growing popularity of smartphones and mobile devices has spurred the order takeaway online market, with many platforms now offering dedicated mobile applications.
  • Growing Demand for Food Delivery Services: The rising popularity of food delivery services has fuelled market expansion, as many consumers seek easy ways to get their favorite dishes quickly and conveniently.

Restraints

  • Quality Control: Maintaining the consistency and quality of food offerings for online order takeaway platforms can be a challenge due to a large number of restaurants and food outlets they work with.
  • Delivery Logistics: Coordinating delivery logistics can be a real challenge, particularly in densely populated areas or during peak demand periods.
  • Food Safety Concerns: Consumer awareness around food safety and hygiene is increasing, which could pose a problem for online takeaway platforms that work with many restaurants or food outlets.

Opportunities

  • Rising Demand for Convenience: Busy lives have created an increasing need to save time and energy, making ordering takeout online an attractive option.
  • Growing Adoption of Mobile Devices: As more consumers rely on smartphones and other mobile devices for ordering takeout online, consumers have more options to order food at any time they wish from anywhere.
  • Increased Market Penetration: More restaurants are offering online ordering and delivery services, leading to an increase in market penetration.
  • Personalized Experience: Online ordering allows restaurants to customize the customer’s experience by offering tailored menus, deals, and promotions.

Challenges

Competition in the online takeaway market is fierce, making it challenging for new entrants to establish themselves.

  • Technical Issues: Technical issues such as website crashes, incorrect order processing, and delivery delays can create an unpleasant customer experience and damage the reputation of a business.
  • Data Privacy Concerns: The collection and use of personal data can raise privacy issues, so businesses must ensure they adhere to data protection laws.
  • Customer loyalty: With so many choices available to customers, businesses must work hard to foster customer loyalty and retain their existing base.

Recent Developments

  • Integration with Social Media: Many restaurants now enable customers to order takeaway directly through platforms like Facebook and Instagram.
  • Voice Ordering with Alexa or Google Home: Voice-activated assistants such as Amazon’s Alexa and Google Home can now be utilized to order takeaway online.
  • Contactless Delivery: In response to the COVID-19 pandemic, many restaurants have implemented contactless delivery options as a means of reducing the risk of transmission.
  • AI-Powered Chatbots: Conversation bots powered by artificial intelligence can assist customers with ordering, offering tailored recommendations and offers.

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

Report Attribute Details
The market size value in 2022 USD 6.8 Bn
Revenue forecast by 2032 USD 22.5 Bn
Growth Rate CAGR Of 13%
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World
Historical Years 2017-2022
Base Year 2022
Estimated Year 2023
Short-Term Projection Year 2028
Long-Term Projected Year 2032

Frequently Asked Questions

Q: How do I order takeout online?

A: You can order takeaway by visiting the website or mobile app of the restaurant you wish to order from, selecting what items you would like to order, then checking out!

Q: When will my order be delivered?

Delivery times can vary based on the restaurant and your location. Most restaurants will give an estimated delivery time when you place your order.

Q: Can I track my order online?

Many restaurants provide the capability of tracking orders online through their website or mobile app.

Q: What payment options are available for online takeaway orders?

A: Payment methods may differ depending on the restaurant, but most will take credit/debit cards and some may also provide PayPal as an online payment option.

Q: Can I make changes to my order after it has been placed?

A: That depends on the restaurant’s policy; most allow changes up until a certain point before preparation begins. To confirm, contact the restaurant directly for further instructions.

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