The online takeaway food market has witnessed significant growth over the past few years owing to rising demand for quick and convenient meals. Online takeaway food services allow consumers to easily browse menus from multiple restaurants and place food orders for delivery via mobile apps or websites.

The global Online Takeaway Food Market is estimated to be valued at US$ 167.2 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: The increased adoption of smartphones and growth in internet penetration have been a key driver propelling the online takeaway food market growth. Consumers nowadays prefer utilizing web and mobile apps to order food rather than making traditional phone calls. As of 2020, over 4.57 billion people worldwide used the internet, representing close to 60% of the global population. Furthermore, smartphone penetration crossed the 60% mark globally in 2020. The increasing usage of smartphones and high-speed internet has enabled consumers to conveniently access online takeaway platforms anytime and anywhere using their devices. This growing digital connectivity has accelerated the demand for online food ordering services considerably over the years.

Segment Analysis
The global online takeaway food market is dominated by the non-vegetarian food segment. This segment accounts for over 60% of the total market share owing to increasing demand for fried chicken, burgers, and pizza among young population. The vegetarian food segment is anticipated to witness significant growth during the forecast period owing to rising health consciousness among consumers and growing advocacy for ethical food choices.

Key Takeaways
The Global Online Takeaway Food Market is expected to witness high growth over the forecast period 2023 to 2030. Regional analysis comprises:

The Asia Pacific region currently dominates the market with over 40% share. Growing young urban population, increasing spending power, and penetration of smartphones are some of the key factors driving market growth in countries like India and China. North America is projected to record fastest growth during the forecast period owing to rising preference for convenience food options and expanding delivery fleet of key players in the US and Canada.

Key players operating in the online takeaway food market are Swiggy, Zomato, Deliveroo, Uber Eats, DoorDash, Grubhub, Just Eat Takeaway.com, Gojek and Grab. Swiggy and Zomato are currently leading the Indian market, while Uber Eats and DoorDash have a stronghold in the US market. In the UK, Just Eat Takeaway.com dominates followed by Deliveroo. The market is witnessing increasing competition with new entrants like Gojek focusing on grocery delivery as well. Significant investments in improving delivery infrastructure and extending services to tier 2 & 3 cities are some of the key strategies being adopted by major players.

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