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

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.