Restaurant Takeout Market Report 2024

This Restaurant Takeout market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

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 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 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 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. For example, in March 2022, Blue Diamond Almond reported that the revenue from the ready-to-eat meal segment reached $46.91 billion and is projected to grow at a compound annual growth rate of 0.83% through 2026. Consequently, the rising demand for convenience foods is propelling the growth of the restaurant takeout market.

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.

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.

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.

Restaurant takeout refers to the service provided by restaurants that allows customers to order food to be prepared and packaged for consumption outside the restaurant premises. This service enables customers to enjoy restaurant-quality meals at their convenience, whether at home, at work, or elsewhere.

The main meal types for restaurant takeout include breakfast, brunch, lunch, high tea, and dinner. Brunch, in particular, combines elements of both breakfast and lunch and is typically served from late morning to early afternoon. Takeout options cater to various dietary preferences, including vegetarian, non-vegetarian, and vegan. Purchase models include direct-to-consumer and platform-to-consumer, with payment options such as cash, debit cards, credit cards, digital wallets, and electronic bank transfers. This service is utilized by various business types, including chain foodservice and independent foodservice establishments.

The restaurant takeout market research report is one of a series of new reports that provides restaurant takeout market statistics, including restaurant takeout industry global market size, regional shares, competitors with a restaurant takeout market share, detailed restaurant takeout market segments, market trends, and opportunities, and any further data you may need to thrive in the restaurant takeout industry. This restaurant takeout market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The restaurant takeout market consists of revenues earned by entities by providing online ordering, subscription services, and catering services. The market value includes the value of related goods sold by the service provider or included within the service offering. The restaurant takeout market also consists of sales of prepared meals, meal kits, custom bags, insulated delivery bags, disposable supplies and related pre-packaged meals, and curbside pickup. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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