China Online Food Delivery Market to Reach US$ 184.1 Billion by 2032, Spurred by Rising Popularity of Readily Available Meals

August 29, 2022 | Transportation and Logistics

The latest report by IMARC Group, titled “China Online Food Delivery Market Report by Platform Type (Mobile Applications, Websites), Business Model (Order Focussed Food Delivery System, Logistics Based Food Delivery System, Full Service Food Delivery System), Payment Method (Online, Cash on Delivery), and Region 2024-2032,” finds that the China online food delivery market size reached US$ 74.2 Billion in 2023. 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.

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$ 184.1 Billion by 2032, exhibiting a CAGR of 10.3% during the forecast period (2024-2032).

Market Summary:

  • 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. Some of these players include Ele.me, Meituan Dianping, ENJOY, Daojia and Home-cook.

 

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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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China Online Food Delivery Market to Reach US$ 184.1 Billion by 2032, Spurred by Rising Popularity of Readily Available Meals
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