The global online food delivery market reached a value of US$ 107.4 Billion in 2020. 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. One of the major factors driving the market growth is the rising penetration of smartphones and internet connections which provide 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 foodservice 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 foodservice 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, IMARC Group expects the global online food delivery market to exhibit strong growth during the next five years.
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 online 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
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.
Along with this, IMARC Group has also done a study on the Indian online food delivery market and Vietnam online food delivery market which has enabled our clients to set up and expand their businesses successfully.
Key Questions Answered in This Report:
The global online food delivery market reached a value of US$ 107.4 Billion in 2020.
According to the estimates by IMARC Group, the global online food delivery market is expected to exhibit moderate growth during the next five years.
The increasing utilization of smartphones, expanding food and beverage (F&B) industry, and the escalating demand for convenient and quick food delivery solutions, represent some of the key drivers for the global online food delivery market.
The rapid integration of online food delivery services with numerous advanced technologies, such as AI, IoT, predictive analytics, etc., represents one of the key trends in the global online food delivery market.
Sudden outbreak of the COVID-19 pandemic had led to the temporary closure of dine-in services across various eateries, thereby propelling the market for online food delivery platforms on a global level.
On the basis of the platform type, the market has been divided into websites and applications. Currently, applications represent the largest market segment.
On the basis of the business model, the market has been bifurcated into order focused food delivery system, logistics-based food delivery system, and full-service food delivery system. Among these, order focused food delivery system holds the majority of the total market share.
On the basis of the payment mode, the market has been divided into online payment and cash on delivery. At present, online payments represent the largest market share.
Region-wise, the market has been classified into China, North America, Asia Pacific (excluding China), Europe, and Rest of the World, where China dominates the global market.
The key companies in the global online food delivery market are Just Eat Holding Limited, Delivery Hero SE, Grubhub Holdings Inc., Deliveroo (Roofoods Ltd), Takeaway.com, Foodpanda GmbH, Meituan Waimai, and Ele.me Inc.
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