Press release
Online Food Delivery Services Market Size Forecast: $281.09 Billion by 2029 | Global Outlook
Online Food Delivery Services
What Is the Projected Market Size Valuation of the Online Food Delivery Services Market by 2025?
The market size of online food delivery services has seen rapid expansion in the recent past. The projection for growth see it rising from $159.46 billion in 2024 to a substantial $177.9 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.6%. This significant growth in the historic period is a result of strong economic development in emerging markets, a surge in internet usage, and wider accessibility to mobile devices.
What Is the Estimated Market Growth Value for the Online Food Delivery Services Industry in 2029?
Swift expansion is anticipated in the online food delivery services market in the coming years, with size predicted to reach $281.09 billion by 2029, hitting a compound annual growth rate (CAGR) of 12.1%. Factors propelling this growth over the forecast period include elements like advancements in the internet of things (iot), developments in artificial intelligence, the surge in smartphone users, the COVID-19 pandemic, an expanding workforce and various government initiatives. The primary trends for the forecast period involve partnering with technology powerhouses, pouring resources into expansion, channeling investments into drone and robotic technologies, adding contactless delivery features, the establishment of virtual kitchens, implementing autonomous cars for quick and affordable delivery, and the adoption of sustainable transport solutions.
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What Are the Growth Drivers and Opportunities in the Online Food Delivery Services Market?
The rise in smartphone usage has significantly spurred the growth of global online food delivery services. The primary online consumers in the F&B sector are smartphone users, and a surge in their number implies a potential rise in online food and beverage shopping. For example, DemandSage, an American data reporting and analytics solution provider, stated in July 2023 that 86% of the worldwide population possesses a smartphone. The global count of smartphone users is estimated to be 6.8 billion in the year 2023. In the United States, 94.4% of millennials are smartphone owners. Almost half of the U.S. residents spend 5 to 6 hours daily on smartphones. Consequently, the proliferation of smartphone users coupled with increased internet penetration is propelling the growth of the online food delivery services market.
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What Are the Primary Segments Covered in the Global Online Food Delivery Services Market Report?
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
Subsegments:
1) By Platform-To-Consumer: Aggregator Platforms, Direct-To-Consumer Platforms, Meal Kit Delivery Services
2) By Restaurant-To-Consumer: In-House Delivery Services, Third-Party Delivery Services, Subscription Meal Services
What Are the Top Growth Trends in the Online Food Delivery Services Market?
The trend of transforming the distribution network into a more distributed system, known as Distribution 4.0, is increasing in the food delivery sector. In this Distribution 4.0 setup, suppliers collaborate with a variety of stakeholders to maximise market penetration across both urban and rural areas, concentrating on marketing, branding, and in-store displays to create optimum customer experiences. Potential partners include aggregator platforms, e-commerce delivery services, rural distribution entities, and the distribution branches of modern commerce. E-commerce giant, Amazon, disclosed plans to collaborate with multiple small businesses, retail stores, and rural grocery outlets to boost their final phase of connectivity. Consequently, the Distribution 4.0 trend is expected to bring positive impacts on the online food delivery sector.
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Which Companies Are Shaping the Future of the Online Food Delivery Services Market?
Major companies operating in the online food delivery services market include Uber Technologies, Inc. (Uber Eats), Meituan Dianping, Just Eat Takeaway.com N.V., Delivery Hero SE, Domino's Pizza, Inc., DoorDash Inc., Deliveroo, Swiggy, Zomato, Foodpanda, Ele.me, Baedal Minjok, Yogiyo, TESCO (UK), Morrisons (UK), Glovo, Tazz, Gurmandio, Yandex, LifeBox, Fit4you Delivery, Seamless, Gopuff, Instacart, SkipTheDishes, TimHortons, iFood, 99Food, Quero Delivery, Rappi, Menulog, Sampa Food Dublin, Foodak, Talabat, Crave App, Wishbox, Rafeeq, Carriage, Akly, Eateasy, Careem Now, Fingertips, SoFresh, Mr D Food, UCook, Orderin, Jumia Food, Yum Deliveries, Areachops, Homechow, The Flying Pan
Which Region Holds the Largest Market Share in the Online Food Delivery Services Industry?
Western Europe was the largest region in the online food delivery services market in 2024. 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
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