What Has Been The Evolution of the Restaurant Takeout Market in Recent Years?
The restaurant takeout market has seen considerable growth due to a variety of factors.
• The restaurant takeout market has grown significantly in recent years. It is expected to increase from $2681.86 billion in 2024 to $2936.83 billion in 2025, at a compound annual growth rate (CAGR) of 9.5%.
The growth can be attributed to an aging population, the expansion of fast-food chains, the increasing popularity of ready-to-eat meals, growing internet usage worldwide, and more widespread use of smartphones.
How Will the Restaurant Takeout Market?
The restaurant takeout market is expected to maintain its strong growth trajectory in upcoming years.
• The restaurant takeout market is expected to grow to $4164.05 billion by 2029 at a CAGR of 9.1%.
This growth is attributed to the rising demand for convenience foods, increasing delivery services, the use of mobile apps for ordering, growing consumption of dietary food, and the demand for plant-based products. Trends include technological advancements, AI-based solutions, integration with tabletop tablets, innovative processing technologies, and digital payment options.
Which Factors Are Boosting Growth In The Restaurant Takeout Market?
The growth of the restaurant takeout market is anticipated to be fueled by the rising demand for convenience foods. The term convenience food refers to pre-packaged or pre-prepared items designed for hassle-free consumption, requiring little preparation time. This appeals to those who are time-poor due to their busy lifestyles and are in search of quick, uncomplicated meal solutions. Restaurant takeout serves to quench this rising demand for convenience foods by providing fast, ready-to-eat meals that save individuals time and effort, while still delivering quality food experiences that wouldn't require home cooking. For example, Blue Diamond Almond, an American organization, reported in March 2022 that the revenue from the ready-to-eat meals segment in 2022 was $46,916 million, and it is projected to grow at a compound annual rate of 0.83% through 2026. As such, it is evident that the surging demand for convenience foods is driving growth in the restaurant takeout market.
What Key Areas Define The Segmentation Of The Global Restaurant Takeout Market?
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
Subsegments:
1) By Breakfast: Quick-Service Breakfast Items, Hot Breakfast Meals, Grab-and-Go Options
2) By Brunch: Brunch Specials, Gourmet Brunch Items, Beverages
3) By Lunch: Sandwiches and Wraps, Salads and Bowls, Quick-Serve Lunch Combos
4) By High Tea: Pastry and Dessert Boxes, Finger Sandwich Trays, Tea Service Packages
5) By Dinner: Family-Style Meal Kits, Entrée Specials, Multi-Course Dinner Boxes
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What Trends Are Reshaping The Future Of The Restaurant Takeout Market?
The main players in the restaurant takeout market are focusing on creating advanced solutions like Smart Links to streamline the order process, offer customized recommendations, and increase customer interaction. This free service gives restaurants unique, personalized links that can be effortlessly shared on platforms like WhatsApp, Instagram, and Facebook. For example, in April 2024, Swiggy, an Indian food order company, introduced their new tool, Smart Links, to assist eateries, irrespective of their size, in enhancing their online visibility and attracting more orders. This allows restaurants to leverage their online presence to generate more orders and reach a wider audience. Smart Links is an effective instrument for restaurants, devised to enhance their online visibility and stimulate increased orders via tailored links and valuable data insights.
Who Are the Key Players In The Restaurant Takeout Market?
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 Is The Most Dominant Region In 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.
