20 May 2021
Online Food Delivery Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Online Food Delivery Market place for the forecast 2021– 2027.
The increasing requirement for quick access to food at cheap costs is also powering the growth. Advantages provided by online delivery services include rewards & cashback offers, attractive discounts, multiple payment options, and doorstep delivery.
The global online food delivery market size is worth of USD 121.57 Billion in the 2020. The industry is further expected to grow at a CAGR of 10.39% between 2021 and 2027 and is predicted to reach a market value of approximately USD 189.07 Billion by 2027.
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The online food delivery is a platform that lets the consumer to order food via the internet from a desired food outlet. This can be done either by employing a mobile phone app or placing an order by going directly to the website. The launch of online food delivery system has been an expedient addition, which has not only lowered long queues, but has also lowered the ordered food delivery’s waiting time. The online food delivery system has already been accepted all over the world and its performance has been comparatively good.
By type, the online food delivery market is divided into platform-to-consumer and restaurant-to-consumer. The platform-to-consumer section is predicted to clock a solid growth over the coming period. The platform-to-consumer model copes with the resource and logistics aspects of food delivery while at the same time providing shipment services to the hotels that do not have in-house resources for delivery. The rise in number of spending in this model is powering the section growth in capital cities.
By channel type, the market for online food delivery is divided into mobile applications and websites/desktop. The mobile applications section is predicted to clock a solid growth over the coming period. The development of the section can be credited to the increasing smartphone penetration, paired with technical advancements such as 4G and 3G networks.
Online Food Delivery Companies:
The major players included in the global online food delivery market forecast are,
Online Food Delivery Key Market Segments:
by Type: Restaurant-to-Consumer, Platform-to-Consumer
by Channel Type: Websites/Desktop, Mobile Applications
by Payment Method: Cash on Delivery, Online
The Rising Internet Penetration And Employment Of Smartphones Are Adding To The Growth Of The Market
The rising internet penetration and employment of smartphones are adding to the growth of the market. The development of the global food delivery sector that allows users to order food from a series of restaurants is playing a major role in powering the market development. The growth of delivery aggregators such as Swiggy and Zomato in the Indian market over the past few years has further added to the growth of the market.
In addition to the above factors, the changing lifestyle & eating patterns and increasing number of dual income families are predicted to support the market growth over the coming period. Moreover, the increasing requirement for quick access to food at cheap costs is also powering the growth. Advantages provided by online delivery services include rewards & cashback offers, attractive discounts, multiple payment options, and doorstep delivery. Moreover, suppliers of food services are setting up huge warehouses to amass fresh produce for providing high-quality food and motivating the acceptance of online delivery services.
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The Asia Pacific Market Is Predicted To Clock A Solid Growth For The Global Online Food Delivery Market Over The Coming Period
The Asia Pacific market is predicted to clock a solid growth for the global online food delivery market over the coming period. The regional development can be credited to the changing preference of millennials and increasing per capita income. In addition to this, rapid adoption of advanced technologies such as voice-assistant apps and increasing employment of internet-based handsets by millennials are adding considerably to the regional market development. The development of the e-commerce sector in developing nations such as Japan and India is further adding to the acceptance of food delivery apps in the region.
Market by Regional Analysis
North America (USA, Canada, Mexico), (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
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