The report is titled as ‘Online Food Delivery Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the online food delivery market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The online food delivery market is expected to grow at a significant rate in the near future.
The global online food delivery market is estimated to reach at a value of US$ 111.9 Bn by the end of 2020 and expected to reach at a value of US$ 254.0 Bn by 2028 with a significant CAGR of 10.8%
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Online Food Delivery Introduction
The idea of food delivery isn’t new. From ordering food over the telephone to using completely committed online platforms linked to a particular restaurant or several different restaurants in the region, the concept of ordering food online has come a long way in the past few decades. In the present-day world, ordering food online has become as simple as heating a frozen food for dinner. Basically, Online food delivery is an online service that allows consumers to buy and order food over the internet using a completely dedicated application or website. These online food delivery platforms sign up and maintain accounts in order to make the continual ordering of food more user-friendly and convenient. In most cases, a consumer initially searches for the desired food outlet or restaurant, chooses the food items from their menu, and chooses the alternative of pick-up or delivery.
Further, the payment is either made online using a debit card, credit card, net banking, or using a digital wallet or via Cash on Delivery (COD). The online food delivery services scale down the errors as well as labor costs. In addition, it saves consumers from waiting time and long queues, owing to which their usage is increasing briskly across the globe. Over recent years, the industry of delivering restaurant meals to the home is going through expeditive changes as emerging latest online platforms compete to lay hold of customers and markets across diverse regions comprising Asia, Americas, Europe, and the Middle East.
At present times, FoodTech, especially food delivery, has been one of the talks of the town over the recent few years and possibly one that has drawn the attention of various advocates and critics every now and then. Headed by platform-to-consumer services, such as GrubHub, UberEats, and DoorDash, the online food delivery business has broadened its scope from takeaways to anything and everything, thereby appending millions of dollars in potential revenue capture.
Online Food Delivery Market Dynamics
The enormous usage of smartphones, in the present-day world, as well as increased penetration of the internet in the present-day society, is one of the primary factors that is boosting the demand of online food delivery platforms and services, thereby expected to accelerate the growth of the global online food delivery market in the near future. More importantly, online food delivery provides a huge convenience to its consumers, along with numerous alternatives of restaurants, food outlets, and food items to choose between, which further helps in gaining traction in the global markets.
The online food delivery platforms provide their consumers high-quality food from their desired restaurants with multiple convenient options of payment, just at their doorstep as well as put an end to long waiting queues. Owing to all such beneficial factors, online food delivery services gains enormous momentum in the global markets, thus the global online food delivery market is projected to grow rapidly in the years to come.
In addition to that, the swiftly increased disposable income of the working population across the world, as well as changing eating patterns and lifestyles of consumers, globally, is also acting as a major factor for the growth of the global market of online food delivery services in the forthcoming years. With the same token, the hectic lifestyle of the masses further stimulates the demand of online food delivery of fresh food, which also positively fuels the growth of the global online food delivery market in the near future.
Furthermore, the online food delivery platforms also offer attractive discounts, cashback and rewards offers, which further fascinates the consumers to order food online. Attributing to which, the global online food delivery market is estimated to witness significant growth in the coming years.
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Online Food Delivery Market Segmentation
The global online food delivery market is segmented on the basis of type, channel type, payment method, and regions. On the basis of the type, the online food delivery market is segmented into Restaurant-to-Consumer and Platform-to-Consumer. On the basis of channel type, the market is segmented into Websites/Desktop and Mobile Applications. Further, the online food delivery market is segmented on the basis of payment methods into Cash on Delivery and Online. Furthermore, the online payment method is segmented into debit card, credit card, net banking and using digital wallet.
The research report classifies the global online food delivery market based on type, channel type, payment method and regions.
By Type
- Restaurant-to-Consumer
- Platform-to-Consumer
By Channel Type
- Websites/Desktop
- Mobile Applications
By Payment Methods
- Cash on Delivery (COD)
- Online
- Debit Card
- Credit Card
- Net Banking
- Digital Wallet
By End-User
- Providers
- Payers
- Patients
- Other End Users
By Region
- North America
- Latin America
- Africa
- Europe
- Asia Pacific
- Middle East
Online Food Delivery Market Key Players
The global online food delivery market is dominated by DoorDash; Just Eat Holding Limited; Swiggy; Takeaway.com; and Uber Technologies Inc, among others.
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