The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
What Is The Estimated Market Size Of The Global Restaurant Takeout Market And Its Annual Growth Rate?
The restaurant takeout market is anticipated to experience robust growth in the coming years, reaching $3,819.24 billion by 2028 at a compound annual growth rate (CAGR) of 9.2%. This growth during the forecast period is driven by the rising demand for convenient food options, the growing popularity of delivery services, increased usage of mobile applications for ordering, heightened consumption of dietary foods, and a surge in plant-based products. Significant trends during this period include technological advancements, the incorporation of artificial intelligence (AI)-based solutions, integration with tabletop tablets, innovative processing technologies, and the implementation of digital payment options.
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Growth Driver of The Restaurant Takeout Market
The growing demand for convenience foods is anticipated to drive the expansion of the restaurant takeout market in the future. Convenience foods are pre-packaged or pre-prepared meals intended for quick and easy consumption, catering to fast-paced lifestyles by offering ready-to-eat options or simple heat-and-serve meals. This increased demand stems from busy lifestyles, limited cooking time, and the need for quick meal solutions. Restaurant takeout addresses this demand by providing fast, ready-to-eat meals, saving time and effort for busy individuals while delivering quality dining experiences without the need for home cooking.
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Which Market Players Are Driving The Restaurant Takeout Market Growth?
Major companies operating in the restaurant takeout market are Panda Restaurant Group, Starbucks Corporation, Uber Technologies Inc., KFC Corporation, DoorDash Inc., 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
What Are The Emerging Trends Shaping The Restaurant Takeout Market Size?
Leading companies in the restaurant takeout market are developing solutions like Smart Links to simplify ordering and enhance customer engagement. Smart Links provides restaurants with free, customized links to share on platforms such as WhatsApp, Instagram, and Facebook, making it easy for customers to place orders while allowing for personalized recommendations to improve customer experience.
How Is The Global Restaurant Takeout Market Segmented?
1) By Meal: Breakfast, Brunch, Lunch, High Tea, Dinner
2) By Nature: Vegetarian, Non Vegetarian, Vegan
3) By Purchase Model: Direct-To-Consumer, Platform-To-Consumer
4) By Payment: Cash, Debit Cards, Credit Cards, Digital Wallets, Electronic Bank Transfers
5) By Business: Chained Foodservice, Independent Foodservice
Geographical Insights: North America Leading The Restaurant Takeout Market
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.
Restaurant Takeout Market Definition
Restaurant takeout services enable customers to order food prepared and packaged for consumption outside the restaurant. This convenience allows customers to enjoy high-quality restaurant meals in the comfort of their homes, workplaces, or other locations, enhancing the overall dining experience.
Restaurant Takeout Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global restaurant takeout market report covering trends, opportunities, strategies, and more
The Restaurant Takeout Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on restaurant takeout market size, drivers and trends, restaurant takeout market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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