The global online food delivery market reached a value of US$ 84.6 Billion in 2018. Online food delivery is a process of ordering and delivering food items to the customers at their doorsteps who have ordered their food through various food delivery websites and applications by using their computers or smartphones. A customer will search for a favourite restaurant, choose from available items, select the payment method and confirm the order. Food delivery applications allow the consumer to register and uphold an account in order to make frequent ordering more convenient. Online food delivery is gaining popularity among both consumers and food service providers as it is benefiting both. Consumers are adopting online food delivery because of its ease, speed, and precision, while food service providers see the potential for increased revenue, reduced labor expenses and reduced errors.
Over the past few years the trend of online food ordering has been increasing. Rising penetration of smartphones and internet connections provides the opportunity to get the food delivered very conveniently and quickly. Online food delivery offers consumers with a wide range of food items available on their smartphones and the convenience of getting it delivered at their doorsteps. Moreover, online food delivery provides numerous benefits to food service providers as well. One of the biggest advantages of online food delivery are savings in labor since the staff is not tied up on the phone or at the counter. Along with labor savings, other major benefits of online food delivery for food service providers include enhanced accuracy of online orders, increased convenience for the guest, simpler order processing, etc. Additionally, online food ordering can also provide food service providers with key customer information that can be useful for making promotional strategies, such as targeted promotions designed to create off-peak demand, specials targeted at particular customer segments, and couponing strategies. Looking forward, the market is further expected to reach US$ 164.5 Billion by 2024, exhibiting a CAGR of 11.4% during 2019-2024.
Market Breakup by Platform Type
On the basis of platform type, the market has been segmented into websites and applications. Applications currently account for a larger share.
Market Breakup by Business Model
Based on the business model, the market has been segmented into order focussed food delivery system, logistics-based food delivery system and full-service food delivery system. Amongst these, order focused food delivery system accounts for the largest share.
Market Breakup by Payment Method
Based on the payment method, the market has been segmented into online payment and cash on delivery. Amongst these, online payments currently accounts for a higher share.
Market Breakup Region
On the basis of region, the market has been divided into China, North America, Asia Pacific (excluding China), Europe and Rest of the World. Amongst these, China has the largest market.
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:
This report provides a deep insight into the global online food delivery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global online food delivery market in any manner.
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