Takeaway & delivery food refers to freshly prepared meal, either picked-up or delivered, intended to be eaten off-premises. Conversely, catering involves food service providers responsible for supply of food & beverages and other services at various end markets. Food takeaway & delivery offers convenient alternatives to traditional dine-ins and provides consumers with wide variety of options.
With quick access to internet enabled devices, geo-activated ordering, increased internet penetration and simplified e-banking solutions, takeaway & delivery food market is expected to witness healthy growth. Consequently, many food chains and restaurants are increasingly shifting towards online portals offering improved convenience, food selection, security and transparency to consumers. In addition, food delivery portals and takeaway service providers are increasingly using social media platforms in order to enhance consumer experience. Furthermore, new entrants and key players are using innovative food packaging to differentiate from their competitors.
Presently, market is witnessing shift in preference towards healthy and nutritious food over fast food alternatives, even though the healthy option is more expensive. This is driving many restaurants and quick service restaurants (QSRs) to introduce healthy and nutritious alternatives like salads, fresh juices, etc. in their menus.
Global takeaway and delivery market is highly fragmented with presence of many small & large market players competing on the basis of food quality, product offerings, packaging, pricing strategies, service and healthy alternatives. To sustain such competitive market, service providers are required to continuously customize menus and services to attract customer loyalty and retain their market standing.
Contract catering, unlike self-operated catering, operates in outsource-based structure wherein the firms outsource their catering contracts. Contract catering has gained popularity as a cost-effective alternative to self-operated food service. Factors like increased demand for outsourced services and related convenience are driving the market growth. However, limited availability of skilled manpower and stringent directives remain the key restraints.
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