The online takeaway food market is witnessing exponential growth owing to the rising demand for quick, hassle-free and home delivery services. With hectic schedules and busy lifestyles, people are increasingly relying on online platforms to order meals from nearby restaurants. Online food ordering offers convenience in terms of comparing menus, reading reviews, tracking orders and paying digitally without waiting on call. Food items like pizza, Chinese, Continental and Indian cuisines are the most preferred takeaway choices.

The global Online Takeaway Food Market is estimated to be valued at US$ 167.2 Bn in 2023 and is expected to exhibit a CAGR of 34% 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 online ordering is one of the major trends driving the growth of the online takeaway food market. With rising internet and smartphone penetration, more people are using online platforms to order meals from nearby restaurants. The ease and convenience of online platforms as compared to physical visits or calls to restaurants has boosted their popularity substantially. Furthermore, features like cash-on-delivery, loyalty programs, specialized apps and live order tracking have made online food ordering an integral part of the on-the-go lifestyle. This shift towards digital convenience is expected to accelerate the market growth over the forecast period.

Segment Analysis
The global online takeaway food market is dominated by the food delivery sub-segment. This is because online food delivery services provide consumers with the utmost convenience in ordering meals from their favorite restaurants without having to physically visit the restaurant. The food delivery sub-segment has gained immense popularity in recent years as it allows users to choose from a diverse selection of cuisines available on food aggregator platforms and apps.

Key Takeaways
The Global Online Takeaway Food Market Size is expected to witness high growth at a CAGR of 34% during the forecast period of 2023 to 2030. The market size is projected to grow from US$ 167.2 Bn in 2023 to US$ 1,234 Bn by 2030.

Regional analysis of the Asia Pacific region is anticipated to dominate the market, accounting for around 45% of the overall market share. Factors such as rising incomes, urbanization, changing lifestyles and increasing number of single households are driving the growth of the online takeaway food market in the region.

Key players operating in the Online Takeaway Food Market are Jon-Don LLC., LG Electronics., Appliance Laundry Systems LLC., Electrolux Group, ECOLAB, among others. Jon-Don LLC is one of the leading players focusing on laundry equipment manufacturing for commercial use. Electrolux Group specializes in manufacturing home appliances and commercial products for kitchen, laundry and vacuuming.

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