April, 1st 2019: Adroit Market Research today presented a research study on the “Global online food delivery Market Size 2017 by Type (Delivery and Takeaway), by Application (Family and Non-Family), Region and Forecast 2018 to 2023”. The global online food delivery market size is estimated based on the ongoing trends and increase in the company’s spending on better and efficient online food delivery. The report also provides various insights related to competitive strategies, value chain analysis, market dynamics, and regional analysis.
Global online food delivery market was valued at USD 65.91 billion in the year 2017 and is expected to raise a revenue of USD 161.74 billion by 2023 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 2017 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.
In terms of region, Asia Pacific dominated the global online food delivery market with market revenue of USD 34.31 billion and share of 52.1% for the year 2017. Asia Pacific is also the growing region for this market and is anticipated to contribute revenue of USD 91.0 billion and share of 56.2% by 2023. The regional growth is driven by a surge in demand for easy and quick food delivery services.
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.
Key segments of the global online food delivery market
Type Overview, 2015-2025 (USD Billion)
Application Overview, 2015-2025 (USD Billion)
- Non Family
Regional Overview, 2015-2025 (USD Billion)
- Rest of America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of APAC
- Middle East and Africa
- South Africa
- Rest of MEA