According to the latest report by IMARC Group, titled “United States Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the United States online food delivery market reached a value of US$
26.1 Billion in 2022. Online food delivery refers to the process of ordering food through a mobile application or webpage linked to food service providers and restaurants. The food can either be ready-to-eat (RTE) or has been specially prepared for direct consumption. Online food delivery enables users to conveniently browse and compare the prices and menus of multiple restaurants, involves distributing the package received from the hospitality establishment, and offers flexible payment options. Prepaid cards, cash on delivery, net banking, e-wallets, and debit/credit cards are some of the commonly available payment methods. Apart from this, online food delivery assists in easing the ordering process, reducing hassle, miscommunication, and misunderstanding, enabling efficient customer and order management, and providing a wide variety of cuisines. As a result, online food delivery is gaining traction in the United States as it offers various discounts on these apps that cater to the varying needs of consumers.
United States Online Food Delivery Market Trends:
The rising penetration of smartphones and high-speed internet is one of the key factors driving the market growth in the United States. This, in confluence with the increasing need for convenient doorstep delivery of food, especially among the working population, is favoring the market growth. Additionally, the rising consumer inclination toward multi-ethnic cuisines and their easy availability on such applications are propelling the market growth. Apart from this, the increasing trend of on-the-go food consumption patterns and the adoption of quick home delivery models that offer convenience, readily available meals, and cost-effective food delivery options are providing an impetus to the market growth. Moreover, the large-scale integration of artificial intelligence (AI) and other innovative technology by online food delivery platforms that offer enhanced accuracy of online ordering, reduction in errors and labor expenses, increased convenience for the guest, and simpler order processing is positively influencing the market growth. Other factors, including rising expenditure capacities of consumers, the rapid expansion of the various food delivery aggregators, and increasing promotional activities, are anticipated to drive the market toward growth in the country. On account of the aforementioned factors, the market value is expected to reach US$ 46.5 Billion by 2028, exhibiting a CAGR of
10% during 2023-2028.
- On the basis of the platform type, the market has been bifurcated into mobile applications and websites.
- Based on the business model, the market has been divided into order focused, logistics based, and full service food delivery systems.
- On the basis of the payment method, the market has been bifurcated into online and cash on delivery.
- On the basis of region, the market has been categorized into Northeast, Midwest, South, and West.
- The competitive landscape of the market has been examined in the report, along with the detailed profiles of the key players operating in the market.
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