Press release
Digital Food Delivery Market is Estimated to Reach USD 278.82 Billion by the end of 2029: Cognitive Market Research
Digital Food Delivery Market is Estimated to Reach USD 278.82 Billion by the end of 2029: Cognitive Market Research
The food business has recently undergone a huge transformation. One of these revolutions is digital food delivery. Digital delivery service is the process of ordering meals or snacks by a smartphone app, internet, or text messages.
Food delivery facilitated by digital apps has emerged as one of the e-commerce space's fastest-growing advancements. Customers can now simply buy food online and have it delivered to their homes in the quickest time possible due to digital food delivery.
At present, the rising internet penetration and growing usage of smartphones change the face of digital world. This drives the demand for online food delivery. Similarly, due to hectic schedule many working professionals are prefer online food delivery. This boosts the growth of the digital food delivery market even further.
Market Insight:
• Global Digital Food Delivery Market is expected to reach USD 278.82 Billion by the end of 2029, growing at a CAGR of 11.27% between 2022 and 2029.
• Aggregator Model Revenue is anticipated to reach at USD 51.05 Billion in 2029
To know more The Digital Food Delivery Market Insight click here: https://www.cognitivemarketresearch.com/digital-food-delivery-market-report
Market Drivers:
• Growing adoption of smartphones coupled with rising internet connectivity
Over the last few years, there is a rapid increase in smart device adoption and internet penetration. Smart devices offer flexibility to customers on a smartphone or tablet. With a mobile device, users are simply able to access several food delivery apps and websites.
According to a study, the number of unique mobile internet users in 2020 was 4.28 billion, and more than 90% of the worldwide internet population has access to the internet via a mobile device. Until March 2021, the internet penetration rate in Asia was at 62 %, 88 % in Europe, and 90 % in North America.
Similarly, according to the study, the current global smartphone user population is 6.648 billion, which indicates that 83.72 percent of the world's population possesses a smartphone. This statistic has increased significantly from 2016, when there were just 3.668 billion users, accounting for 49.40 percent of the world's population at the time.
These number highly observed in millennials. According to a recent NRA report, 74-75 percent of millennials want to order food online. Restaurant and fast-food chain marketers are paying close attention to this trend and capitalize on the opportunities that mobile provides by incorporating it into their ad-buying strategy.
As a result, the growing adoption of smart devices coupled with rising internet connectivity is driving the growth of the digital food delivery market.
Rising working professionals along with changing consumer preferences
• Restraints for Digital Food Delivery Market
High cost associated with digital food delivery
• Opportunities for Digital Food Delivery Market
Advancement in food delivery system
Cognitive Market Research Company's Research Methodology - https://www.cognitivemarketresearch.com/research-methodology
Market Segmentation:
Business Model:
• Aggregator Model
Food aggregators process orders and provide customer service. They function as go-betweens for clients and local eateries, providing access to a variety of cuisines through a single website or smartphone app. The aggregators take a predetermined margin on the order, which is paid for by the restaurant, and the restaurant handles the actual delivery.
• New Delivery System
A new delivery platform enables players to establish their own logistics network and offer new delivery choices to restaurants that do not deliver themselves. It provides customers with various advantages, including the ability to examine and compare menus, price details, reviews, and logistics. This enables them to provide home delivery to a new area of the restaurant market: higher-end eateries that previously did not deliver.
• Full Services
Platform:
• Websites
Several digital meal delivery businesses offer online food delivery through their websites. Customers can go to the websites and order whatever meal they desire. Customers are frequently enticed by appealing deals made by some businesses
• Mobile Application
Mobile applications are commonly used for digital food delivery. Customers can order food by downloading apps to their mobile phones. These applications also compare various restaurants and pricing based on the customer's preferences.
Payment Method
• Online Transactions
Currently, many people all over the world use e-wallets. As a result, digital food delivery players offer online payment options to their customers. Online transactions involving cards, mobile wallets, and bank transactions.
• Pay-on-Delivery
Several customers prefer to pay cash upon delivery after placing their order. Many people consider it risky to conduct online transactions on such platforms, so they opt for the pay on delivery option. As a result, several apps and websites offer pay on delivery options.
Get free sample pages of latest published Digital Food Delivery Market Report: https://www.cognitivemarketresearch.com/digital-food-delivery-market-report
Competitive Analysis for Digital Food Delivery Market:
Ele.me, Meituan Waimai, Just-eat, GrubHub, Delivery Hero, UberEATS, Doordash, Postmates, Takeaway.com, Mr. D food, Deliveroo, Square Inc. (Caviar), Amazon Restaurant, Zomato
• Delivery Hero SE
Delivery Hero SE offer digital food delivery service across several international markets. Delivery Hero SE connected with 1,122 Dmarts warehouses to deliver service across globe. Delivery Hero SE is e-commerce platform, which delivers groceries, household goods, to customer withing 10-15 mins. The company has several brands, which offers food delivery services such as foodora, food panda, foody, Instashop, talabay, and other.
NEWS:
October 2021
• Delivery Hero has acquired Hugo Food and Grocery Delivery Services
Delivery Hero SE has engaged in acquisition of Hugo food, grocery delivery services, which expanded its presence in Central America and Caribbean
• Grubhub
Grubhub is a part of Just Eat Takeway.com, which offers online food delivery services. The company is connected with more than 320,000 restaurants across 4000 cities. Grubhub application available in mobile phones, helps user to search for multiple cuisines and restaurants to order the choice of food for the users. Grubhub adopted advanced technologies. For instance, Grubhub uses Amazon Alexa device to order their favorite food from choice of restaurants. Grubhub app offer fast delivery with efficient tracking of order, user can save their order history. The Grubhub application also offers user to place the order form two hour to four days in advance and available with several payment options.
Related Report:
• Digital Pathology Market- https://www.cognitivemarketresearch.com/digital-pathology-market-report
• Digital Multimeter Market- https://www.cognitivemarketresearch.com/digital-multimeter-market-report
• Digital Audio Amplifiers Market- https://www.cognitivemarketresearch.com/digital-audio-amplifiers-market-report
• Digital Ceramic Inks Market- https://www.cognitivemarketresearch.com/digital-ceramic-inks-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research:
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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