Global Online Food Delivery Market

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.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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).

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. 'Uber Eats (United States)', 'DoorDash (United States)', 'Just Eat Limited (Netherlands)', '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)'

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.

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.

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.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Online Food Delivery Services Market
Buy Now GET FREE SAMPLE
Meal Kit Delivery Service Market
Buy Now GET FREE SAMPLE
Online Grocery Market
Buy Now GET FREE SAMPLE
Food Service Packaging Market
Buy Now GET FREE SAMPLE
Quick Delivery Commerce Market
Buy Now GET FREE SAMPLE
Food Packaging Market
Buy Now GET FREE SAMPLE
Food Automation Market
Buy Now GET FREE SAMPLE
Food Packaging Equipment Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Online Food Delivery Market

Report ID: SQMIG45A2092

$5,300
BUY NOW GET FREE SAMPLE