Food Away From Home Market Size Worth $5.4 Trillion by 2032: The Brainy Insights

Growth in women's employment, rising disposable income, a busy and chaotic lifestyle, and easy availability of the desired junk food are the key factors expected to boost demand for food away from home market. The increased presence of popular fast-food franchises such as KFC, Pizza Hut, and Subway will likely drive restaurant expansion in the future. North America emerged as the most significant global food away from home, with a 47% market revenue share in 2022.

Newark, April 12, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 4.5 trillion food away from home market will reach USD 5.4 trillion by 2032. The growth of numerous food delivery aggregators such as Swiggy, Zomato, and Doordash Inc. encourages the global use of food away from home. Furthermore, the multiple integrations of smart technology and smart AI by food delivery platforms for customer convenience will likely present the industry with ample growth opportunities. Again, technical developments such as food delivery by robots and drones are the most recent technological trends in the food away from the home sector. They are expected to accelerate market growth in the future.*For Right Perspective and Competitive Insights, Get Sample Report at: https://www.thebrainyinsights.com/enquiry/sample-request/13399**North America to account for the largest market size during the forecast period.*North America is expected to have the most significant food away from home market share. Several online food delivery services are experimenting with cutting-edge food delivery systems such as drones, self-driving cars, and robots, favourably impacting the market growth. Furthermore, citizens' high living standards fuelled the region's demand for online food delivery packing services. Some of the leading players in North America, such as Doordash, GrubHub -Seamless, Uber Eats, Postmates, and Caviar, are developing the food away from home industry through tactics such as new product development, global expansion, acquisitions, and investments.*Dine-in dominated the market with the most significant market revenue of USD 1.66 trillion in 2022.*Dine-in dominated the market with the most significant revenue of USD 1.66 trillion in 2022. Dine-in allows restaurants to provide their consumers with the best service, atmosphere, and food while facilitating good guest experiences.*Restaurants accounted for the largest share of the market, with a market revenue of USD 2.06 trillion in 2022.*Restaurants accounted for the largest share of the market, with a market revenue of USD 2.06 trillion in 2022. One of the primary reasons driving market expansion during the forecast period is the increasing use of in-house delivery systems by global food chains such as Domino's, Pizza Hut, and McDonald's.*Latest Development:*● In April 2021, the largest food delivery and ride-hailing company in Southeast Asia, Grab Holdings, announced a USD 40 billion deal with Altimeter Growth Corp.*Get a detailed analysis: https://www.thebrainyinsights.com/report/food-away-from-home-market-13399**Market Dynamics**Drivers: Rising Internet Usage*Increased internet usage, easy access to cell phones, improved food-service logistics, streamlined e-banking systems, and shifting lifestyles are some of the main factors driving the growth of online meal delivery. In 2021, Indian meal delivery platforms will have 80 million active monthly users, with a target of 200 million over the following few years, predicts Zomato research. As a result, rising smartphone usage and internet adoption are fueling the expansion of online food delivery services.*Restraint: Preparation*Food ordering systems may suffer from the preparation factor. The majority of food ordering platforms provide frozen food. These are typically simple to prepare but take longer to cook because the food is frozen.*Opportunity: Rising Availability of Online Food Delivery*The majority of it can be attributed to the expansion of online food delivery services, consumers' improved understanding of online e-commerce developments, an easier and more secure method for making online service payments, an increase in disposable income, and people's reduced time for food preparation due to work from home.*Challenge: Distance*Because of the great ordering distances, your meal may be cold when it arrives at your door. It must be reheated or eaten cold. This is especially true if you order in an emergency because the streets are frequently congested, and the ordering individual is caught in traffic.*Interested in Procure Data? Visit: https://www.thebrainyinsights.com/buy-now/13399/single**Some of the major players operating in the food away from home market are:*● Chipotle Mexican Grill
● Yum Brands, Inc.
● Darden Concepts, Inc.
● Jubilant FoodWorks Limited
● Sysco Corporation
● Zensho Holdings Co., Ltd.
● Compass Group PLC
● SSP Group Plc
● Burger King Corporation
● Bid Corporation
● Aramark
● SATS Ltd.
● Sodexo*Key Segments cover in the market:*By Delivery Model:● Dine In
● Home Delivery
● Take AwayBy Application:● Restaurants
● Hotels and Motels
● Schools and Colleges
● Retail Stores and Vending
● Others*About the report:*The global food away from home market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*Avail access to The Brainy Insights and our exceptional market research database.**About The Brainy Insights:*The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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