Online Food Delivery Market Size, Trends, Growth and Analysis Report 2023-2028
According to IMARC Group’s latest report, titled “Online Food Delivery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global online food delivery market size reached US$ 121.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 250.0 Billion by 2028, exhibiting a growth rate (CAGR) of 11.1% during 2023-2028.
Online food delivery refers to platforms that allow customers to order food from their desired restaurants through the internet. They can be categorized into restaurant websites and third-party food delivery apps, such as Grub hub or Uber Eats. Online food delivery systems offer an extensive selection of restaurants, making it extremely convenient for customers to find the type of food they are looking for. They facilitate doorstep food delivery and prove to be extremely time-consuming. Online food delivery solutions even ensure labor and cost savings for restaurants and provide enhanced accuracy of order processing. Consequently, they are in widespread demand among consumers across countries.
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Online Food Delivery Market Trends:
The escalating penetration of smartphones and high-speed internet connections across the globe and the growing number of delivery aggregators are primarily driving the online food delivery market. In addition to this, the emerging trend among several online food delivery companies to provide discounts and promotions, including free delivery, percentage off the total order bill, multiple payment options, cashback offers, etc., is acting as another significant growth-inducing factor.
Apart from this, the launch of virtual restaurants and delivery-only kitchens and the rising establishments of large warehouses by numerous food service providers to store fresh produce and offer high-quality food, thereby encouraging the adoption of online delivery mediums, are also positively influencing the market growth. Moreover, the elevating integration of the internet of things (IoT) that enable users to use food delivery applications through voice commands is expected to propel the online food delivery market in the coming years.
Competitive Landscape with Key Players:
The competitive landscape and the profiles of key players operating in the global online food delivery market have also been examined in the report. Some of the key players in this market include:
- Just Eat
- Delivery Hero
- Meituan Waimai
Key Market Segmentation:
The report has categorized the market based on platform type, business model and payment method.
Market Breakup by Platform Type
Market Breakup by Business Model
- Order Focused Food Delivery System
- Logistics Based Food Delivery System
- Full-Service Food Delivery System
Market Breakup by Payment Method
- Cash on Delivery
Market Breakup Region
- North America
- Asia Pacific (excluding China)
- Rest of the World
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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