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Online Food Delivery Services Market Research Includes Historical, Forecast Data, Market Demand, Price Trends, and Company Share By 2029 – DoorDash, Just Eat Holding Limited, Swiggy

10-28-2021 09:50 AM CET | Fashion, Lifestyle, Trends

Press release from: StraitsResearch

Online Food Delivery Services Market

Online Food Delivery Services Market

Online Food Delivery Services Market Snapshot:

The ubiquity of smartphones and high internet penetration have seen a steep rise in the number of online food orders. The millennial populace, particularly in the U.S., is a key driver for the online food delivery services market, as millennials prefer to order in rather than going to restaurants. The emergence of online food delivery services has reduced long queues and waiting times for food delivery. According to a research study by the Food Information Council, 55% of the millennial population in the U.S prefers convenience over taste. In the present scenario, robots, pizza drones, and parachutes are also being used to deliver food to customers. Online orders by virtual assistants, tweets, smartwatches, and television screens are also a part of the online e-commerce segment. Well-known pizza chains such as Pizza Hut, Dominos, and Papa John’s have been investing significantly in food delivery software for the past few years. These players have developed ordering systems for connected cars, smartwatches, and gaming consoles as well to further increase market penetration.

The mobile application segment is expected to grow with a high CAGR, owing to the increased penetration of smartphones and tablets, coupled with faster internet connectivity. Moreover, restaurants offer attractive discounts to consumers who order food via mobile applications.

Online food delivery services enable customers to order food from a wide variety of restaurants and suggest choices as per their preferences, thereby leading to increased acceptance for online food services. Increasing disposable income and changing lifestyles and eating patterns are also contributing to market growth. With today’s sedentary lifestyle, people prefer convenient and easy solutions. The rising demand for quick access to food at affordable costs is another key factor propelling the market growth. Online food delivery services provide various benefits, including discounts, cashback offers, rewards, and multiple payment options. In contrast, several factors, including fluctuating prices and availability of multiple food delivery platforms, are envisaged to amplify the market competition. Moreover, when the number of food orders is high, the quality of food delivered reduces, requiring additional resources for order fulfillment. Therefore, the failure of restaurants to meet simultaneous multiple deliveries and inefficiency to deal with volumes inhibit market growth. However, the introduction of virtual restaurants and delivery-only kitchens is anticipated to offer considerable market expansion opportunities.

Consumers remain apprehensive about online payment due to security concerns; thus, the cash on delivery segment leads the market. However, banking organizations are focusing on improving security and providing additional services to customers by partnering with online food delivery platforms. Despite the many strives taken by the banking sector, the population in emerging economies such as India continues to prefer cash on delivery over online transactions.
The online payment mode is growing at an astonishing rate due to the technological advancements in developed and developing economies. Online money transactions have been gaining traction over the last few years, and the populace is shifting towards this emerging trend. Online payment modes include net banking, payment via payment portals, credit cards, and debit cards. Rising awareness regarding digital currency and partnerships between food delivery platforms and banks are the key factors propelling the growth of the segment.

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The Major Prominent Players Covered in this Report:
DoorDash, Just Eat Holding Limited, Swiggy, Takeaway.com, Uber Technologies Inc., Delivery Hero SE, Grab Holdings Inc., Zomato, Grubhub Inc., and Domino's Pizza, Inc.

By Type, Restaurant tconsumer, Platform tconsumer, By Channel, Website/Desktop, Mobile application, By Payment Mode, Cash on delivery, Online

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Online Food Delivery Services in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Online Food Delivery Services market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Online Food Delivery Services and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Online Food Delivery Services. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View this report with a detailed description and TOC @ https://straitsresearch.com/report/online-food-delivery-services-market/toc

Platform to Consumer Segment to Witness Strong Growth in Coming Years:
The platform to consumer model is pegged to register relatively high growth with a CAGR of 12% during the forecast period. This

model deals with the resource and logistics aspects of food delivery and also provides shipment services to the hotels and restaurants that do not own in-house delivery resources. The rising number of investments in this model are projected to drive the growth of the segment in the years to come.

The restaurant to consumer segment, where restaurants directly deliver to consumers, accounts for a significant market share. In this model, consumers can order food via restaurant websites or platforms. Companies operating in this segment provide a subscription program to customers to increase customer loyalty.

Key Questions Answered in The Report:
What will the Online Food Delivery Services market growth rate?
What are the key factors driving the global Online Food Delivery Services market?
Who are the key manufacturers in the Online Food Delivery Services market space?
What are the market opportunities, market risk, and market overview of the Online Food Delivery Services market?
What are sales, revenue, and price analysis of top manufacturers of the Online Food Delivery Services market?
Who are the distributors, traders, and dealers of the Online Food Delivery Services market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Online Food Delivery Services Industry?
What are sales, revenue, and price analysis by regions of Online Food Delivery Services industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Online Food Delivery Services Market Trends:
- The report identifies, determines, and forecasts the Global Online Food Delivery Services Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Online Food Delivery Services Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Online Food Delivery Services Market.

Browse Full Report @ 
https://straitsresearch.com/report/online-food-delivery-services-market/

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