The global Online Takeaway Food Market Growth Accelerated by Convenient Online Access

-

Online takeaway food allows both individuals as well as families to order meals from their favorite local restaurants at the convenience of their homes or offices. This has helped accelerate the demand for hygienic, nutritious and customized food options especially among the working population and millennials. The growing preference for convenient and quick meal solutions is further fueling the market growth.

The global Online Takeaway Food Market is estimated to be valued at US$ 192.62 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the online takeaway food market is accelerating primarily due to the increasing trend of digitization and convenience. With growing usage of smartphones and internet, more people are opting for online food ordering platforms which allows them to browse menus, add items to cart and pay without visiting restaurants. Various food chains and restaurants are investing in digitization of services to meet the changing consumer preferences. They are focusing on enhancing their digital presence and enabling advanced features like online payment, live order tracking and customized meal options on their websites and mobile apps. This is enabling higher accessibility and convenience which is fueling the demand in the online takeaway food market.

Segment Analysis
The global online takeaway food market size is dominated by the food delivery segment. With the rising adoption of food delivery apps and increasing prominence of quick-commerce platforms, the food delivery segment accounts for over 65% of the overall online takeaway food market. The ease of ordering and convenience of doorstep delivery offered by food delivery apps and websites has made this segment immensely popular among consumers.

Key Takeaways
The global online takeaway food market is expected to witness high growth over the forecast period 2024 to 2031. The global Online Takeaway Food Market is estimated to be valued at US$ 192.62 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

Regional analysis: North America currently dominates the global online takeaway food market. The region accounted for around 35% market share in 2024 owing to high penetration of online food delivery platforms and rising preference of consumers towards convenience food options. However, Asia Pacific is expected to be the fastest growing regional market during the forecast period with countries like China, India, and Indonesia witnessing exponential growth in online food orders and platforms.

Key players: Key players operating in the online takeaway food market are Epiroc Ab, AB Volvo (Volvo Construction Equipment), Doosan Corporation, Caterpillar Inc., and Deere & Company. Epiroc Ab holds the leading market position globally with its strong product portfolio and widespread geographical presence. AB Volvo also has a sizable market share attributed to its robust overseas sales network and wide range of construction equipment.

Comments

Post a Comment

Popular posts from this blog

The global Ion Exchange Membrane Market Growth Accelerated by Increasing Industrialization and Urbanization

-
Image
Ion exchange membranes are selectively permeable membranes that transport ions from one solution to another by ion exchange. They are used in various applications such as water purification, wastewater treatment, chlor-alkali industry, and fuel cells. The increasing industrialization and urbanization is creating a huge demand for water and power. Ion exchange membranes help provide clean water and green energy production through desalination and fuel cells. The global Ion Exchange Membrane Market is estimated to be valued at US$ 908.33 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing industrialization and urbanization is one of the key trends driving the growth of the ion exchange membrane market. As industries expand production and urban populations increase globally, the demand for drinking water and power rises substantially. Ion exc...
Read more

Healthcare IT (HCIT) is fastest growing segment fueling the growth of Drug for Abuse Testing Devices Market

-
Image
The global Drug For Abuse Testing Devices Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Drug for abuse testing devices help identify the presence of drugs or metabolites in the body by analyzing samples such as urine, blood, hair, oral fluid etc. These products play an important role in drug screening programs by ensuring job security, public safety and health. Market key trends: The adoption of healthcare IT solutions is one of the key trends witnessed in the drug for abuse testing devices market. Integration of IT with diagnostic products helps generate faster and accurate test results while streamlining workflow. IT solutions also enable efficient data management and sharing of reports between labs and law enforcement agencies. This significantly improves monitoring and prevention of drug abuse in the s...
Read more

Electric Powertrain Market Growth Accelerated by Adoption of Stringent Emission Regulations

-
Image
The electric powertrain incorporates electric motor, power electronics, and transmission and helps convert energy from external power supply into mechanical energy in electric vehicles. Growing demand for zero-emission and fuel-efficient vehicles coupled with stringent emission regulations imposed by regulatory bodies globally are anticipated to drive the demand for electric powertrains. Additionally, development of high-performance lithium-ion batteries with high energy density at affordable costs has facilitated automakers to adopt electric powertrains in their vehicles. The global Electric Powertrain Market is estimated to be valued at US$ 81.7 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Adoption of stringent emission regulations imposed by governmental organizations across the globe to curb carbon emissions is a key trend fueling the growth of ...
Read more