The restaurant takeout market has demonstrated substantial growth in recent years, forecasted to increase from $2,465.96 billion in 2023 to $2,681.86 billion in 2024, with a CAGR of 8.8%. This growth is driven by factors such as a growing geriatric population, the expansion of fast-food chains, a rising preference for ready-to-eat meals, increased internet usage, and the growing use of smartphones. In the following years, the market is expected to reach $3,819.24 billion by 2028, reflecting a CAGR of 9.2%. The anticipated growth in this forecast period can be attributed to the increasing demand for convenience food, a rise in the popularity of delivery services, growing use of mobile apps for ordering, higher consumption of dietary foods, and the increasing availability of plant-based products. Major trends expected to shape the market during this period include advancements in technology, integration of artificial intelligence (AI)-based solutions, the use of table-top tablets, innovative processing technologies, and the adoption of digital payment options.
Global Restaurant Takeout Market Key Driver
The increasing demand for convenience foods is projected to drive the growth of the restaurant takeout market in the future. Convenience foods refer to pre-packaged or pre-prepared items designed for quick and easy consumption, requiring minimal preparation time, thus catering to busy lifestyles with ready-to-eat meals or simple heat-and-serve options. The heightened demand for convenience foods arises from busy lifestyles, limited time for cooking, and the need for quick meal solutions. Restaurant takeout plays a crucial role in addressing this demand by offering quick, ready-to-eat meal options, which save busy individuals time and effort while providing quality dining experiences without the need for home cooking. For instance, in March 2022, Blue Diamond Almond, a US-based organization, reported that the revenue for the ready-to-eat meal segment was $46,916 million in 2022 and is anticipated to increase by 0.83% annually until 2026. Therefore, the growing demand for convenience foods is a significant factor driving the restaurant takeout market.
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Global Restaurant Takeout Market Segments
The restaurant takeout market covered in this report is 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
By Geography:The regions covered in the restaurant takeout market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the restaurant takeout market in 2023.
Major Restaurant Takeout Industry Players
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
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Restaurant Takeout Market Overview
Restaurant takeout refers to the service provided by restaurants where customers can order food to be prepared and packaged for consumption outside the restaurant premises. This service allows customers to enjoy restaurant-quality meals at their convenience, whether at home, at work, or elsewhere.
Restaurant Takeout Global Market Report 2023 provides data on the global restaurant takeout market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The restaurant takeout market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
