The latest report by IMARC Group, titled “China Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the China online food delivery market size reached US$ 58.7 Billion in 2021. Online food delivery refers to the process of ordering food online with the assistance of a mobile application or website from a local restaurant or food service provider. These online food delivery platforms allow customers to create an account for regular ordering and convenient browsing with a wide variety of food options available as per the delivery location. They also provide a secured payment gateway where customers can pay via net banking, e-wallets, cash on delivery, or debit/credit cards. As a result, online food delivery platforms are widely adopted by individuals across China for a hassle-free food ordering experience.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
China Online Food Delivery Market Trends:
The market is primarily driven by the increasing popularity of readily available meals across China. This is supported by the changing lifestyles, shifting dietary preferences, and inflating disposable income levels of the consumers. Moreover, online food delivery services are offering various benefits, including doorstep delivery, attractive discounts, multiple payment options, and rewards and cashback offers which are providing a positive thrust to the market growth. Apart from this, the improving network connectivity and expanding consumer base due to significant expansion in the food and beverage (F&B) industry are contributing to the market growth. Furthermore, the escalating demand for fresh food, quick home delivery, and easy accessibility is also accelerating the adoption of online food delivery services. Along with this, various key players are integrating advanced technologies with food delivery services to offer user-friendly interfaces. They are also enhancing their services with artificial intelligence (AI) and advanced data analysis to improve their management efficiency and streamline related processes, which in turn is propelling the market growth across China. Looking forward, IMARC Group expects the market value to reach US$ 118.5 Billion by 2027, exhibiting a CAGR of 12.1% during the forecast period (2022-2027).
- Based on the platform type, the market has been bifurcated into websites and mobile applications.
- On the basis of the business model, the market has been divided into order-focused, logistics-based, and full-service food delivery systems.
- Based on the payment method, the market has been classified into online and cash-on-delivery.
- On the geographical front, the market has been segmented into Guangdong, Jiangsu, Shandong, Zhejiang, Henan, and others.
- The competitive landscape of the market has been studied in the report, with the detailed profiles of the key players operating in the market.
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