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Online Food Delivery Services Market Insights, Trends, Analysis And Forecast 2024-2033
Online Food Delivery Services Market Insights
Online Food Delivery Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $178.4 billion In 2028 At A CAGR Of 2.8% :
The online food delivery services market size has grown rapidly in recent years. It will grow from $143.05 billion in 2023 to $159.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increase in strong economic growth in emerging markets, increased internet penetration and increased availability of mobile devices.
The online food delivery services market size is expected to see steady growth in the next few years. It will grow to $178.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to the internet of things (iot), artificial intelligence, increasing smartphone users, covid-19, growing workforce and government initiatives. Major trends in the forecast period include collaborating with tech giants, invest in expanding, investing in robot and drone technologies, investing in launching contactless delivery features, investing in virtual kitchens, adopting self-driven cars for fast and low-cost delivery and adopting green transport solution.
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Online Food Delivery Services Market Major Segments
The online food delivery services market covered in this report is segmented -
1) By Type: Platform-To-Consumer, Restaurant-To-Consumer
2) By Channel Type: Websites, Mobile Applications
3) By Payment Method: Cash-On-Delivery, Online Payment
Key Driver - Rise In Smartphone Adoption Fuels Global Growth In Online Food Delivery Services
An increase in smartphone users has given a boost to online food delivery services worldwide. Smartphone users are the primary online shoppers for the F&B industry, and an increase in the number of smartphone users reflects a potential increase in online shopping for food and beverages. For instance, in July 2023, according to DemandSage, a US-based data reporting and analytics solutions provider, 86% of the population around the globe owns a smartphone. There are 6.8 billion smartphone users worldwide as of 2023. In the United States 94.4% millennials own a smartphone. Nearly half of the U.S. population dedicates 5 to 6 hours per day to using smartphones. Hence, an increase in smartphone users and internet penetration is driving growth in online food delivery services market.
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Prominent Trend - Evolving Distribution Strategies
Upgradation of the distribution network to a more decentralised system, Distribution 4.0, is trending in the food delivery services market. In Distribution 4.0, supplier partner with multiple players for the best market coverage between urban and rural markets, focusing their efforts on marketing, branding, and in-store merchandising to create a best-in-class shopper experience. They are likely to partner with aggregators, e-comm delivery companies, rural distribution companies, and distribution arms of modern trade to drive coverage. E-commerce aggregator Amazon has announced plans to team up with many small-scale businesses, retail outlets, and rural supermarkets to increase their last-mile connectivity. Therefore, the trend of Distribution 4.0 is envisioned to have some positive effects on online food delivery services.
Online Food Delivery Services Market Players
Major companies operating in the online food delivery services market report are Uber Technologies, Inc. (Uber Eats), Meituan Dianping, Just Eat Takeaway.com N.V., Delivery Hero SE, Domino's Pizza, Inc., Grubhub Inc., DoorDash Inc., Deliveroo, Swiggy, Zomato, Foodpanda, Ele.me, Baedal Minjok, Yogiyo, TESCO (UK), Morrisons (UK) , Glovo, Tazz, Gurmandio, Yandex, LifeBox, Fit4you Delivery, Seamless, Postmates, Gopuff, Instacart, Munchery, Eat24, SkipTheDishes, TimHortons, iFood, HelloFood, 99Food, Quero Delivery, Rappi, Menulog, Sampa Food Dublin, Foodak, Talabat, Crave App, Wishbox, Rafeeq, Carriage, Akly, Eateasy, Careem Now, Fingertips, Entertainer, SoFresh, Mr D Food, UCook, Orderin, Jumia Food, Yum Deliveries, Areachops, Homechow, The Flying Pan
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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the online food delivery services market in 2023. Asia-Pacific was the second largest region in the global online food delivery services market report. The regions covered in the online food delivery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Online Food Delivery Services Market Report Structure
3. Online Food Delivery Services Market Trends And Strategies
4. Online Food Delivery Services Market - Macro Economic Scenario
5. Online Food Delivery Services Market Size And Growth
…..
27. Online Food Delivery Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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