Dublin, Jan. 06, 2025 (GLOBE NEWSWIRE) -- The "Restaurant Takeout Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The restaurant takeout market size has grown strongly in recent years. It will grow from $2.46 trillion in 2023 to $2.68 trillion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The restaurant takeout market size is expected to see strong growth in the next few years. It will grow to $3.81 trillion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
The growth during the historic period can be attributed to several factors such as the expanding geriatric population, the growth of fast-food chains, a rising preference for ready-to-eat meals, increased global internet usage, and the growing prevalence of smartphone use.
The projected growth during the forecast period can be attributed to several factors such as rising demand for convenience food, growing popularity of delivery services, increased use of mobile apps for ordering, higher consumption of dietary foods, and a surge in plant-based products. Major trends expected to drive this growth include advancements in technology, the integration of AI-based solutions, the use of table-top tablets, innovative processing technologies, and the incorporation of digital payment options.
The growing demand for convenience foods is anticipated to drive the expansion of the restaurant takeout market. Convenience foods, which include pre-packaged or pre-prepared items designed for rapid and effortless consumption, cater to busy lifestyles by offering ready-to-eat meals or simple heat-and-serve options. This heightened demand stems from hectic schedules, limited time for home cooking, and a preference for quick, easy meal solutions. Restaurant takeout aligns with this demand by providing fast, ready-to-eat meals, thereby saving time and effort while delivering quality dining experiences without requiring home preparation.
Major players in the restaurant takeout market are focusing on innovative solutions such as Smart Links to enhance the ordering process, offer personalized recommendations, and boost customer engagement. Smart Links provide restaurants with complimentary, customized links that can be easily shared on social media platforms such as WhatsApp, Instagram, and Facebook. For instance, in April 2024, Swiggy, a food ordering company based in India, introduced Smart Links to assist restaurants of all sizes in enhancing their online visibility and increasing order volumes. This tool enables restaurants to attract orders through their digital presence and reach a wider audience. Smart Links is designed to help restaurants amplify their online presence and generate more orders with personalized links and valuable insights.
In March 2024, Domino's Pizza Group plc, a UK-based provider of pizza delivery and takeout services, acquired Shorecal Limited for an undisclosed sum. This acquisition represents a strategic move for Domino's Pizza Group plc, allowing the company to streamline its operations, expand its store network, and capitalize on the newly established supply chain center. Shorecal Limited, an Ireland-based provider of pizza delivery and carryout services, will support Domino's in enhancing its operational efficiency and market reach.
North America was the largest region in the restaurant takeout market in 2023. The regions covered in the restaurant takeout market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the restaurant takeout market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.68 Trillion |
| Forecasted Market Value (USD) by 2028 | $3.81 Trillion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
Scope
Markets Covered:
- Meal: Breakfast; Brunch; Lunch; High Tea; Dinner
- Nature: Vegetarian; Non Vegetarian; Vegan
- Purchase Model: Direct-To-Consumer; Platform-To-Consumer
- Payment: Cash; Debit Cards; Credit Cards; Digital Wallets; Electronic Bank Transfers
- Business: Chained Foodservice; Independent Foodservice
Key Companies Mentioned:
- Panda Restaurant Group
- Starbucks Corporation
- Uber Technologies Inc
- KFC Corporation
- DoorDash Inc.
Restaurant Takeout Market Other Major and Innovative Companies
- Domino's Pizza Group PLC
- Panera Bread Company
- Grubhub Inc.
- First Watch Restaurants Group
- Manchu Wok Inc.
- Huddle House Inc.
- Denny'S Corporation
- Bob Evans Farms Inc.
- HuHot Mongolian Grill LLC
- Another Broken Egg of America Franchising LLC
- The Original Pancake House Company
- Mama Fu's Franchise Group LLC
- Biscuitville Fresh Southern
- Spaghetti Warehouse Inc.
- Caviar
For more information about this report visit https://www.researchandmarkets.com/r/7l3gqz
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