According to the latest report by IMARC Group, titled "China Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the online food delivery market size in China reached US$ 38.8 Billion in 2019. Online food delivery is the service that enables online ordering of food through the website or mobile application of a local restaurant or food service provider. Individuals use these portals to browse through a wide variety of menus and price lists of multiple restaurants. Upon selecting their desired food items, they confirm their order, which is facilitated by fast checkout processes and secure payment options, such as cash on delivery, debit/credit cards, net banking and e-wallets. They offer a hassle-free food ordering experience due to the associated convenience, improved speed and minimum human interaction. Their use also results in fewer misunderstandings and miscommunication pertaining to the placed order that eliminates the chances of errors.
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:
The market is primarily driven by the increasing demand for readily available meals in China. Supported by strong economic growth, changing dietary preferences and inflating per capita income levels, working professionals with hectic working schedules are opting to order food online due to the enhanced convenience offered by various online food delivery services. Along with this, the increasing penetration of high-speed internet, coupled with the growing young population in the country, is creating a positive outlook for the market. Furthermore, various food delivery portals are upgrading their portals by integrating their applications with advanced technologies and user-friendly interfaces. This is expected to provide a competitive edge to the applications in the market, thereby creating numerous growth opportunities for the players. For instance, Ele.me, the Chinese food delivery giant, is equipping its services with artificial intelligence (AI) and advanced data analysis to significantly improve its management efficiency and streamline related processes. The market is further driven by the increasing number of collaborations between restaurants and application developers, along with significant growth in the food and beverage industry. On account of the aforementioned factors, the market is expected to witness moderate growth during 2020-2025[S1] .
Market Summary:
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