Online Takeaway Food Market Taking Off

  • The global online takeaway food market is currently driven by the consumers’ inclination towards health and wellness.
  • Healthier menus are considered to be one of the significant strategies that can be adopted in the global online takeaway food market to gain profit.
  • Asia Pacific is expected to be the fastest growing region in the global online takeaway food market.

Takeaway food is a food, which is ordered online, made in restaurant and then taken away to be eaten at home or somewhere else. Online food services make ordering process easier and convenient, maintain cost transparency including price along with other taxes to be charged and monitor expenses incurring in real-time. These services enable customers to order through mobile app and explore various options of food without intervention of contractors. Currently, healthier menus are considered to be one of the significant strategies that can be adopted in the global online takeaway food market to gain profit.

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Major players operating in the global online takeaway food market include Pizza Hut Inc., Delivery Hero Holding GmbH, Just Eat Holding Limited, Foodler Inc., Foodpanda GmbH,Takeaway.com Holding B.V, Zomato Media Private Limited, Grubhub, Inc., Domino’s Pizza Inc., Snapfinger Inc., Mobo Systems Inc., and others.

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Market Dynamics:

The global online takeaway food market is currently driven by the consumers’ inclination towards health and wellness. Rising awareness towards healthy eating is forcing online food service companies to provide healthier options in their food menu. According to the Global Wellness Institute, in 2015, global wellness economy accounted for $3.7 trillion, which increased to $4.2 trillion by the end of 2017. The market includes healthy eating, nutrition, and weight loss sector, which accounted for $702 billion of total global wellness economy in 2017.

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Market Outlook:

Asia Pacific is expected to be the fastest growing region in the global online takeaway food market during the forecast period. This is owing to growing urbanization, rising working people populace, rapid access to mobile phones, expansion of internet penetration for ordering food online, and rising disposal income. Therefore, significant growth in urbanization is expected to drive the global online takeaway food market growth over the forecast period in Asia Pacific. For instance, according to India Brand Equity Foundation, number of Indians living in urban areas is expected to reach 600 million by 2031 from 434 million in 2015. Furthermore, over 70% of India’s GDP will be contributed by the urban areas by 2020.

However, government regulations on online food delivery increases for providing food safety and hygiene rather than focusing only on deep discounts and aggressive marketing to build consumer traction to their respective platforms. For instance, in 2018, The Food Safety and Standards Authority of India (FSSAI) said that the licences and registrations of up to 40% of the restaurants listed by online food delivery platforms were not verified despite instructions.

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