Delivery and Takeaway Food Market- Development Strategies Adopted By Major Key Players
Global Delivery and Takeaway Food Market: Overview
Food delivery refers to a courier service through which an independent food-delivery company, a store, a food joint or a restaurant delivers food to a customer. An order is made over phone, an App, or through food ordering company. Grocery items, desserts, drinks, sides, and entrees can all be delivered by this food delivery and takeaway service. The global delivery and takeaway food market is likely to gather momentum from the growing prominence of this kind of services.
The global delivery and takeaway food market is estimated to gather momentum from the ongoing novel coronavirus outbreak across the globe. As social distancing has been imposed to prevent spread of the virus, people are required to stay at home, which has made eating out with friends and family an unfeasible option right now. This is estimated to drive the demand for delivery and takeaway food services over this period of crisis.
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To deliver food, a person assigned with the task usually rides a motorbike or drives a car in urban areas and semi urban areas. In these areas, houses and apartments are close to each other, which make it easy for the delivery person to deliver items quickly. These services are also known as grab-n-go, carry-out or to-go, or take-out or takeout. Changes in the consumer eating habits together with change in demographics are estimated to bolster growth of the global delivery and takeaway food market in the years to come.
Product type, food price range, distribution channel, and region are the four important parameters based on which the global Delivery and Takeaway Food market has been categorized. Such dissection of the market comes with the purpose to offer stakeholders with a detailed and clear analysis of the global Delivery and Takeaway Food market.
Global Delivery and Takeaway Food Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global Delivery and takeaway food market is mentioned below:
- In March 2019, US-based McDonald’s Corporation (MCD) made acquisition of Dynamic Yield Ltd. The latter is a prominent company in personalization and decision logic technology. With this acquisition, McDonald’s is expected to offer more personalized customer experience utilizing the technology of Dynamic Yield Ltd. Menu displayed at the digital Drive Thru exhibits food items based on current traffic at the restaurant, weather, trending menu items, and time of the day. This level of personalization is estimated to draw more customers and boost the sales of McDonald’s in the near future.
Some of the prominent organizations in the global delivery and takeaway food market include the below-mentioned:
- Domino’s Pizza Inc
- Takeaway.com Holding B.V
- Delivery Hero SE
- Pizza Hut Inc.
- Zomato Media Private Limited
- Just Eat Holding Limited
Global Delivery and Takeaway Food Market: Key Trends
The global delivery and takeaway food market is characterized by the presence of the following restraints, drivers, and opportunities.
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Increased Sale through On-trade Distribution to Drive Growth of the Market
A rise in online shopping due to the hectic schedule and busy lifestyle of people is expected to drive the demand for food delivery through online platforms. In addition, quick access to smartphones, easy e banking systems, and augmented online penetration is likely to pave way for rapid growth of the global delivery and takeaway food market over the tenure of assessment. Online ordering facilities have benefitted meal chains through offering of enhanced security, suitability, transparency, and enhanced selections.
Online orders received through mobile phones offers hassle-free and secured options of payment and this facility also offers the option to order from local food joints and takeaways, which plays a role in boosting the revenue of local food business. In addition to ordering food, these facilities also offer options of real-time tracking, lodging complaints, providing feedback, and food suggestions based on one’s past orders. All these factors are estimated to play an important role in driving the growth of the global delivery and takeaway food market over the timeframe of analysis.
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Global Delivery and Takeaway Food Market: Geographical Analysis
North America is estimated to be one of the prominent regions in the global delivery and takeaway food market and the region is likely to retain its prominence over the period of assessment. Hectic lifestyle of people coupled with presence of several market vendors in the region is estimated to drive the growth of the market in the region. Besides, aggressive marketing strategies to induce consumers in ordering food over phone, websites, and apps are likely to widen the scope of the market.
Asia Pacific is another rapidly growing region in the market due to growing disposable income of the people. Increased awareness about the convenience of ordering food online and ease of use of such apps is expected bolster growth of the Asia Pacific market.