The increasing use of Online Food Delivery in various applications and rapid economic growth are expected to create growth opportunities for the market.
Global online food delivery market was valued at USD 72.1 billion in the year 2020 owing to changing consumer lifestyles with decreased waiting time for delivery of ordered food. Changing consumer lifestyle, young population and increasing disposable income are the major factors driving the emerging economies growth.
In terms of application, Non-family segment generated a maximum revenue share of 70.6% in the year 2019 and is anticipated to maintain a similar trend over the forecast period. The nonfamily segment is expected to generate a revenue of USD 115.43 billion by the end of 2023, growing at a CAGR of 16.2%. Generation Z spends ~ 6 to 8 hours daily over the web, “connected” through numerous electronic devices. Majority of the preference for things related to food or clothing is derived from word-of-mouth posts on social media and peer references. This group also turns to community applications to read reviews of restaurants and gauge prices. Food service delivery options are especially important to Gen Z since this group represents around 32% of the global population, a large target group who will drive the growth in delivery far into the future.
The study also assesses the demand using value chain analysis to highlight the different characteristics of the global Online Food Delivery industry. Furthermore, the Online Food Delivery market report covers various qualitative aspects of the industry, such as market restraints, key industry drivers, and opportunities. In addition, the report offers a comprehensive analysis of the competition by company profiles and the competitiveness of local and global vendors.
The U.S. is one of the key countries across America’s online food delivery market as it stands as a hub for the most successful start-ups to date. U.S. accounted for a maximum market revenue share of 83.4% in America’s online food delivery market and is expected to show a similar trend over the forecast period growing at a CAGR of 8.3%. Also, online food delivery services are one of the fastest and most frequently used services in China. Huge populous and technological advancement is backing the growth of online food delivery services across this country.
Zomato, Deliveroo, Just Eat, Swiggy, Takeaway.com, Delivery Hero, Food panda, is expected to be the key potential entrants for the expanding online food delivery market. The top companies in the online food delivery market such as Domino’s, Grub Hub/Eat 24, Pizza Hut, Papa John's International, Inc., and Jimmy John's accounts for nearly 90% of the global online food delivery market.
Type Overview, 2019 to 2028 (USD Billion)
Application Overview, 2019 to 2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America