|Market Size in 2019||Market Forecast in 2026||CAGR (in %)||Base Year|
|USD 26.43 Billion||USD 30.21 Billion||9.3%||2019|
Online Food Delivery Services Market
The online food delivery services market is set for a rapid growth over the forecast period. In terms of revenue, the global online food delivery services market accounted for USD 26.43 Billion in 2019 and is expected to reach USD 30.21 Billion by 2026, growing at a CAGR of 9.3%.
In recent years, the popularity of online food delivery services has been a growing trend tremendously. The market has matured in most countries around the world. Online food delivery services offer a wide range of food items at your doorsteps; it connects multiple restaurants, cafes, and even a local fast-food outlet to the customers through mobile apps or website. These services provide multiple options with additional offers and easy payment options. This is why the demand for such services is growing at a rapid rate.
The global online food delivery services market is growing at a lucrative rate, factors affecting the rapid growth of the market include the changing landscape of the food & beverage industry and rising internet & smartphone penetration among the millennial consumers. The rise in smartphone users has fostered the online food delivery services worldwide. Furthermore, in recent years, traditional as well as new-delivery players have attracted significant investment and have stepped up their marketing efforts substantially to build recognition for their brands quickly. Moreover, in recent years, online food delivery has witnessed numerous strategic alliances with several fintech companies, major food brands as well as diversified hospitality companies. Several online food delivery apps have integrated payment gateways, such as digital wallets, into existing platforms to provide a seamless ordering and payment experience. On the other hand, highly volatile prices of the food industry, high third-party reliance, and an unstable customer base may restrict the growth of the global online food delivery services market.
The global online food delivery services market is anticipated to grow at a significant rate in the COVID-19 pandemic situation. Countries around the world have restricted restaurants and hotels to reopen for peoples as it can become a major cause of the spread of infection, hence most of the restaurants are using online channels to sell their products. This has resulted in a significant rise in the adoption of online food delivery services. Restriction on personal movement is another reason expected to boost the demand for online food delivery services.
The online food delivery services market is divided on the basis of type, channel, payment method, and region. The type segment is further divided into platform-to-consumer and restaurant-to-consumer. Based on channel, the market is further split into mobile applications and websites/desktop. By payment method, the market is segmented into cash on delivery and online.
|Report Attributes||Report Details|
|Report Name||Online Food Delivery Services Market Research Report|
|Market Size in 2020||USD 26.43 Billion|
|Market Forecast in 2026||USD 30.21 Billion|
|Growth Rate||CAGR of 9.3%|
|Number of Pages||214|
|Key Companies Covered||DoorDash Inc., Deliveroo, Grubhub Inc., foodpanda, Swiggy, Zomato, Uber Technologies Inc., and Takeaway.com, among others.|
|Segments Covered||By Type, By Application, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2016 to 2018|
|Forecast Year||2020 - 2026|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America and Europe are the prominent regions holding the maximum share of the global online food delivery services market. North America is expected to dominate the global online food delivery services market in terms of market shares. Factors such as a large network of online food delivery services, presence of major players in the market, high preference for online food, and excellent mobile network connectivity around the region are contributing to the large share of the region in the online food delivery services market.
Asia Pacific is expected to be the most lucrative market and it is expected that the market in Asia Pacific region will register the highest CAGR over the forecast period. The rising trend of online food delivery in this region is attributed to growing disposable income, changing food habitats, rising variety of menus, and growing investments of local as well as global players in this region.
Some of key players in online food delivery services market are
The global online food delivery services market accounted for USD 3.76 Billion in 2019 and is expected to reach USD 4.91 Billion by 2026.
The CAGR value of the online food delivery services market is expected to be around 9.3% during 2019-2026.
North America and Europe are the prominent regions holding the maximum share of the global online food delivery services market. North America is expected to dominate the global online food delivery services market in terms of market shares.