USD 60.18 billion
Online Food Delivery Market Size, Share, Growth Analysis, By Type(Restaurant to Consumer and Platform to Consumer), By Payment Method(Cash On Delivery and Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2092 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
59
|Figures:
77
Online Food Delivery Market Insights
Global Online Food Delivery Services Market size was valued at USD 60.18 billion in 2022 and is poised to grow from USD 71.43 billion in 2023 to USD 281.52 billion by 2031, growing at a CAGR of 18.7% in the forecast period (2024-2031).
Online meal delivery services have advantages like easy location delivery and alternatives for on-time delivery. The largest ride-hailing and food-delivery company in Southeast Asia, Grab Holdings, announced a merger with Altimeter Growth Corp., valued at USD 40 billion.
These governments see a growth in their average population as a result of rigorous work schedules and changing lifestyles. The market for these services consists mostly of family transactions for online food delivery services and related services.
The market for online food delivery services includes all firms that utilise hotel packages. These companies offer online and mobile commerce options. The dish can be ready to eat right away or it might need extra preparation.
Heavy discounts, reward and rebate programmes, doorstep delivery, and a variety of payment choices are all advantages of using online delivery services. Due to the acquisition of Drizzly by Uber Technologies Inc., the complementing delivery services and apps of the two businesses will now be integrated.
A total of 18.7 million freshly issued shares of Uber common stock and cash were included in the purchase consideration, which was about USD 1.1 billion. Additionally, in order to supply high-quality food, suppliers of food services are constructing sizable warehouses to preserve fresh produce, which is promoting the adoption of online delivery services.
Factors such as the wide variety of food choices, and the ease of ordering through mobile apps contribute to the industry's expansion. The need for convenience has accelerated the adoption of online food delivery services, with a surge in demand for contactless delivery options.
Major players, both global and regional, compete to enhance user experience through technological innovations, partnerships, and expanded restaurant networks.
US Online Food Delivery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Restaurant-to-Consumer
Fastest Growth
Platform-to-Consumer
Growth Rate
18.7% CAGR
Global Online Food Delivery Services Market By Type ($ Bn)
Country Share for North America Region (%)
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Online Food Delivery Market Segmental Analysis
Global Online Food Delivery Market is segmented on the basis of type, payment method and region. By type, the market is segmented into restaurant to consumer, platform to consumer. By payment method, the market is segmented into cash on delivery and online. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Online Food Delivery Market Analysis by Payment Method
The market's biggest contributor, online payments, are projected to expand at a CAGR of 19.9% throughout the projection period. Net banking, credit/debit cards, and payment portals are all examples of online payment services. To help users pay for their orders, a wallet option is now provided. Through increased app engagement, a wallet also helps with marketing and offers. Because more people are aware of digital currencies and because banks and online food delivery services work together, more people are expected to make payments online.
Over the forecast period, substantial growth is anticipated for the COD (Cash on Delivery) category. This surge can be attributed to some customers preferring to pay with cash since they don't believe that internet payments are secure. The scenario will likely alter over the next several years as a result of banks' increased efforts to improve security and provide users more options. In addition, cash-on-delivery is the preferred method of payment in many emerging markets, including India and Sub-Saharan Africa.
Online Food Delivery Market Analysis by Type
The market's largest contributor, platform-to-consumer, is predicted to expand at a CAGR of 19.9% during the projected period. In the platform-to-consumer business model, food delivery services typically list nearby eateries via a website or mobile app. This business model mostly consists of online food delivery businesses that send consumers meals from affiliated cloud kitchens or non-delivery eateries. Due to an increase in investments in this model, the platform-to-consumer market is predicted to expand particularly in capital cities.
The restaurant-to-consumer model allows restaurants to deliver meals directly to customers through their website or mobile application or by partnering with online food delivery services. For instance, McDonald's operates its online food delivery network through its website or application in a number of nations. The business has worked with neighborhood meal delivery services like DoorDash to send food to places they don't currently serve.
Global Online Food Delivery Services Market By Type
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Online Food Delivery Market Regional Insights
Asia-Pacific is expected to develop at a CAGR of 19.80% over the projection period and currently holds the largest market share for online meal delivery services globally. Changing millennial tastes and increasing average personal earnings are driving the region's growth. The fact that millennials are using their smartphones more frequently and embracing new technology like voice-assistant apps is another factor contributing to the rise of the local industry. People in the area are now more likely to utilize food delivery applications thanks to the expansion of e-commerce in developing nations like Japan and India.
Throughout the projected period, North America is predicted to expand at a CAGR of 18.3%. The shifting tastes of the populace can be credited with fast food's rising appeal in the area. People have begun ordering food delivery to their homes or places of employment during the past ten years as a result of their hectic schedules and changing lives, as opposed to dining out. The online meal-ordering business should see additional opportunities as a result of this. A number of online food delivery firms, such as Postmates Inc. and Just Eat Holding Limited, are likewise fostering the expansion of the local market. Players in the industry in the area provide live customer service, delivery execution, and other associated services, all of which will aid in the region's expansion.
Global Online Food Delivery Services Market By Geography
- Largest
- Fastest
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Online Food Delivery Market Dynamics
Online Food Delivery Market Drivers
Cloud Kitchens to Bolster Market Growth
- Consumers now have access to a variety of various applications, including online meal delivery services, thanks to improved network connectivity and an increase in smartphone adoption. With the help of a smartphone, people may easily make orders with their favourite restaurants after browsing a list of them. Everywhere in the world, including rural areas, smartphones have made their way to the most isolated locations. The change in attitudes towards online purchasing among the rural people is partly due to the accessibility of e-commerce sites and food delivery services made possible by smartphone applications. A large increase in mobile internet users has also been seen over the past several years on a global scale. Remote access to mobile applications is made possible by the quick development of network infrastructure, which has increased network connectivity across developing economies.
- Cloud kitchens are becoming a thing thanks to people's increasing demand for online food delivery. Because they have lower overhead expenses than conventional restaurants, cloud kitchens may charge their customers less for services. Because they have fewer fixed expenses, cloud kitchens may offer online delivery platforms larger commissions. Low start-up expenses and cost savings from payroll taxes, service personnel, furnishings, electricity, and insurance are two benefits of cloud kitchens. They therefore present a solid investment opportunity. Additionally, proprietors of cloud kitchens can easily and with little initial outlay extend their businesses across a number of locations. These advantages have fuelled the growth of cloud kitchens during the past few years.
Online Food Delivery Market Restraints
Massive Delivery Volumes to pose as a Threat
- Food delivery businesses are facing logistical difficulties as a result of the rising popularity of online food ordering. Many restaurants work with internet food delivery services to grow their business. But from these platforms, eateries get a tonne of orders every day. Therefore, it may be difficult for restaurants to manage a huge volume of orders across many platforms.
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Online Food Delivery Market Competitive Landscape
In order to accelerate their expansion in the market, the major firms in the sector have relied heavily on partnerships and acquisitions. The growth of the working population, increased internet usage, and the food and beverage industry are the main factors driving the worldwide online food market.
Online Food Delivery Market Top Player’s Company Profiles
- Grubhub (United States)
- Deliveroo (United Kingdom)
- Meituan Dianping (China)
- Swiggy (India)
- Zomato (India)
- Foodpanda (Germany)
- Postmates (United States)
- Ele.me (China)
- Rappi (Colombia)
- Glovo (Spain)
- Wolt (Finland)
- iFood (Brazil)
- Deliverect (Belgium)
- Yandex.Eats (Russia)
- Tock (United States)
- Caviar (United States)
- Seamless (United States)
- Talabat (Kuwait)
- Shipt (United States)
Online Food Delivery Market Recent Developments
- In September 2022, according to Kaushik Dutta, chairman of the company's board of directors, Zomato, an online meal delivery company, has decided to focus on three important areas: food ordering and delivery; supplies to restaurants through "Hyperpure"; and rapid commerce.
- In March 2022, in order to increase delivery, McDonald's and Eat Takeaway.com, Europe's biggest online meal delivery business, partnered.
- In May 2022, Swiggy and Garuda Aerospace partnered to use drones to deliver groceries in Bengaluru, in the Indian state of Karnataka, and the Delhi-NCR area.
Online Food Delivery Key Market Trends
- The range of applications for AI and big data analytics has increased due to increased research and breakthroughs. The use of AI and big data analytics in online food delivery platforms will assist develop mobile applications and websites that offer users a customized experience with easy navigation and an attractive user interface. Based on their past preferences, present preferences, location, and reviews of other eateries, these intelligent applications will give customers better selections. The interactive aspect is a bonus because it encourages greater involvement, bringing it closer to parity with the traditional dine-in experience in restaurants. Big data analytics will examine consumer behaviour and process it in real-time to provide the best recommendations to app users.
Online Food Delivery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the online food delivery market has witnessed rapid growth, fuelled by increasing internet penetration, smartphone adoption, and urbanization. Consumers are increasingly seeking convenience, variety, and speed in their food consumption, leading to a surge in online food ordering and delivery services. The global online food delivery market is a dynamic and rapidly evolving industry, driven by changing consumer preferences, technological advancements, and the need for convenience. As technology continues to advance and consumer expectations evolve, the market is expected to witness further growth and innovation in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 60.18 billion |
| Market size value in 2031 | USD 281.52 billion |
| Growth Rate | 18.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Online Food Delivery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Online Food Delivery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Online Food Delivery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Online Food Delivery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Online Food Delivery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Online Food Delivery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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