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United States Online Food Delivery Market to Reach US$ 32.7 Billion in 2024, Spurred by User-Friendly Applications

According to the latest report by IMARC Group, titled “United States Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the United States online food delivery market size reached US$ 17.5 Billion in 2018.  Online food delivery refers to the process of ordering food through the webpage or mobile application of a restaurant or food service provider. An online food portal enables a user to conveniently browse through a wide variety of menus and the price list of various restaurants. These portals also offer a fast checkout process and secure payment options, thus providing an overall hassle-free and seamless food ordering experience to users. Furthermore, online food delivery applications require minimum human interaction, which results in fewer misunderstandings and miscommunication regarding the placed order, thereby eliminating the chances of human error. In the United States, the online food delivery system is extremely popular, owing primarily to its associated convenience.

United States Online Food Delivery Market Trends:

Hectic working schedules and inflating income levels of the majority of the population in the United States are among the primary factors driving the market growth. With the majority of the population in the country actively engaged in professional spheres, there is little to no time left for preparing home-cooked food or having a full-course meal. Consequently, there is a significantly increasing demand for readily available meals offered majorly through various online food delivery portals. Furthermore, technological advancements act as a crucial factor in boosting the market growth in the country. Owing to the proliferation of brands and companies providing online food delivery services, the market players are launching advanced versions of their applications with improved and user-friendly interface. They are continually engaging in research and development (R&D) activities to upgrade their portals with the aim to have a competitive edge in the market. For instance, DoorDash, a San Francisco-based food delivery service, provides various user-friendly features on its application, including real-time tracking and scheduled deliveries.  The thriving food and beverage industry and the increasing collaborations between restaurants and application developers are some of the other factors driving the market further in the country. On account of the aforementioned factors, the market is expected to reach a value of US$ 32.7 Billion in 2024, growing at a CAGR of 11% during 2019-2024.

Market Summary:

  • Based on the platform type, the market has been bifurcated into mobile applications and websites, wherein mobile applications represent the most popular segment.
  • On the basis of the business model, order focused food delivery systems exhibited a clear dominance in the market. Some of the other major segments include logistics-based and full-service food delivery systems.
  • Based on the payment method, online payments accounted for the majority of the total market share, followed by cash on delivery.
  • On the geographical front, the West region holds the leading position in the market. Other key regions include Northeast, Midwest and South.
  • 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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