Press release
China Online Food Delivery Market Size To Grow At A CAGR Of 14.5% In The Forecast Period Of 2023-2028
China Online Food Delivery Market
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
China Online Food Delivery Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 200.5 billion
Forecast CAGR (2023-2028): 14.5%
Regarded as the world's biggest online food delivery market, the China online food delivery market is expected to grow manifold in the anticipated period. A major driving force of this market is the rising penetration of internet and smartphones amongst the population, which is bolstering the growth of this market. The rising disposable incomes is another compelling force that has a major influence on the surging market demand for online delivery items.
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The China online food delivery market is providing growing restaurants with a platform to enhance their visibility and generate profits in the long run, thus fuelling the overall market growth. Ease of use and additional features like interactive and user-friendly interface, ability to track orders and options for leaving feedback and ratings have led to the surging usage of online food delivery apps, strengthening the food delivery market. Introduction of measures to ensure food safety and quality like deletion of substandard restaurants from food-delivery apps has made the atmosphere favourable for the success of this market.
The adoption of biodegradable cutlery and elimination of plastics is emerging as a viable step taken by the China online food delivery market in order to promote sustainability and in online food delivery. The increasing availability of food items like hotpot and Cantonese food, which were earlier considered unsuitable for delivery, has further augmented the growth of this market.
China Online Food Delivery Industry Definition and Major Segments
Online food delivery refers to the process of ordering groceries and meals through the internet for delivery at a specific location, either directly through a website or with the help of a mobile application.
Various platforms and restaurants offer easy and convenient means of food delivery, with payment options both online and in person. Online food delivery can deliver prepared food items through direct pickups from restaurants, and unprepared food items like groceries.
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On the basis of platform, the market is bifurcated into:
Website
Mobile Application
Based on type, the market is segmented into:
Restaurant-to-Consumer Delivery
Platform-to-Consumer Delivery
On the basis of payment method, the market is divided into:
Online
Cash on Delivery
Based on cities, the market is classified into:
Shanghai
Zhejiang
Guangdong
Jiangsu
Beijing
Others
China Online Food Delivery Market Trends
Online food ordering has become particularly prevalent among the sizeable working population of China, owing to their hectic lifestyles and preference to avoid dine-out. Low food delivery charges and the access to steep discounts and coupons are a key trend in the China online food delivery market that have made online food delivery a cheaper and more convenient option than dine-in. Market players are further expanding their product offerings by targeting tea-time snacks. The adoption of healthier lifestyles by the people in China has encouraged online food delivering platforms to tie-up with restaurants with availability of healthier food options.
With rapid digitisation, the online payment segment of the China online food delivery market is likely to witness a boom in the forthcoming period. Additionally, the market demand for deliverable food items is anticipated to witness a steep rise with the integration of AI and the usage of drones and robots in the foreseen period.
The surging sales of pizza is likely to support the robust the growth of this market being a popular and frequently ordered food item in China. Lockdowns and social-distancing requirements have further, given rise to contactless deliveries which besides safety, provides additional benefits like hassle-free and time-saving services. The growing trend of hosting house parties has further increased the online food ordering as it saves a lot of time and efforts.
Key Market Players
The major players in the China online food delivery market report are:
Meituan Dianping
Ele.me
DiDi Food
others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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