Restaurant Takeout Market is Predicted to Grow US$ 4,024.9 Million by 2032 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Restaurant Takeout Market has grown in recent years due to the increased popularity of food delivery apps and the convenience they offer to customers. The platform-to-consumer segment is expected to grow at a CAGR of more than 15% through 2032
DUBAI, United Arab Emirates, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The restaurant takeout market is expected to reach US$ 4,024.9 billion in 2032 from US$ 2,199.4 Billion in 2022, with a CAGR of 8.3% from 2022 to 2032.
The global impact of the Covid-19 pandemic may have accelerated restaurant takeout market growth, but what made it possible has been the recent proliferation of delivery models and fleet types: delivery from the store, curbside pickup, delivery from robotic warehouses, and so on.
With all restaurant takeout market opportunity comes a lot of competition, so restaurants, grocers, and other food providers must stay on top of what's going on in the restaurant takeout market.
Increased urbanisation, increased internet usage worldwide, expansion of fast-food chains, and increased household restaurant takeout expenditure have all contributed to the restaurant takeout market growth along with restaurant takeout market key trends and opportunities.
Emerging multicultural populations, increased use of online media, online market place convenience, and restaurant takeout market consolidation are some of the restaurant takeout market adoption trends and restaurant takeout market future trends.
Barriers to entry into the restaurant takeout market are due to high logistical complexities, as well as the time-consuming development and implementation of systems that accept orders online, which are among the major challenges in the restaurant takeout market and restaurant takeout market key trends and opportunities.
For newcomers to the restaurant takeout market, getting things up and running can be very costly and time-consuming, which influences the emerging trends in the restaurant takeout market.
Key Takeaways:
Europe has a restaurant takeout market share of 19.7% in the restaurant takeout market.
The independent foodservice segment of the restaurant takeout market has the largest market share of 62.5% in the business type category through 2032.
East Asia has a restaurant takeout market share of 31.2% in the restaurant takeout market.
The platform-to-consumer segment of the restaurant takeout market is expected to outperform the purchase model category through 2032.
North America has a restaurant takeout market share of 23.3% in the restaurant takeout market.
Latin America has a restaurant takeout market share of 8.9% in the restaurant takeout market.
The restaurant takeout market is dominated by South Asia, with a share of 11.3%.
New market research report on restaurant takeout shows that the legacy players in the restaurant takeout market are concentrating on delivering solutions that meet specific needs, such as the installation of various technologies and the update and extension of current systems that will boost the restaurant takeout market key trends & opportunities.
The restaurant takeout market is dominated by Denny’s, Bob Evans, Biscuitville, Another Broken Egg Café, The Original Pancake House, First Watch, Village Inn, Huddle House, Perkins, Manchu Wok, HuHot Mongolian Grill, Mama Fu's, Panda Express, Spaghetti Warehouse, Fazoli’s,appadeaux Seafood Kitchen.
Recent Development in the Restaurant Takeout Market:
In partnership with Beyond Meat, KFC (Yum! Brands, Inc.) became the first national U.S. quick service restaurant to test plant-based chicken in 2019. In collaboration with Beyond Meat, KFC introduced "Beyond Fried Chicken," a plant-based chicken that debuted in a limited test series.
In 2019, Dubai retailer Marka announced the opening of its first Deli Kitchen Restaurant in Dubai's Design District, with the goal of providing free delivery to the Design District's offices via WhatsApp ordering.
Google announced in July 2020 that it had begun testing food delivery services in India, allowing customers to place orders directly through Google's search engine. Dunzo, a third-party platform in the process of upgrading its systems, is expected to deliver. The feature is already available in the United States at orderfood.google.com, and users can use voice assistants to place orders.
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