Press release -
Online Food Delivery Services Industry Overview, Share, Statistics 2021
Online Food Delivery Market: Global Industry Analysis 2015 To 2020 And Opportunity Assessment 2021 To 2027
Global Online Food Delivery Services Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing number of working population and busy schedule, rapid growth of internet and improvement in telecommunication infrastructure are some of the major factors driving the growth of Global Online Food Delivery Services Market.
Global Online Food Delivery Services Market is valued at USD 108.6 Billion in 2020 and expected to reach USD 198.8 Billion by 2027 with the CAGR of 10.6% over the forecast period.
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Key Players for Global Online Food Delivery Services Market Report–
Major players in the global online food delivery services market are Cavlar, Deliveroo, Delivery hero, DoorDash, Domino’s, Eat24, Ele.me, Foodpanda, GrubHub, Just Eat, Takeaway.com, Uber Eats and others.
Online food delivery is the process of ordering food from a website or mobile applications. The product can be either ready-to-eat food or unprepared food for direct consumption. Citizens around the country are increasingly turning to online ordering and other low-cost purchasing options. Convenience is the biggest appeal to consumers, as placing an order requires just a few clicks on mobile devices such as smartphones, tablets, or laptops. Food prepared by restaurants, food prepared by independent individuals, and groceries ordered online and picked up or delivered are all part of the online food delivery service market. Online food delivery services can either be responsible for recruiting and training professional delivery people, or they can also resort to crowdsourcing logistics, using delivery people who are not necessarily employed by the online food delivery platform. The first online food delivery service was started by PizzaHut.com in January 1994. The online food delivery services market is growing rapidly in today’s digital market setup.
During the Covid-19 pandemic, the careful steps taken by governments of different nations have led to the temporary suspension of online food delivery services. However, problems like shortage of food inventory, unavailability of public transport, reduced hours at grocery and supermarkets can be related largely to the fact that there is a rapid increase in the number of online food apps that allow people to order meals online and have them delivered to their homes or picked up without having to visit the restaurant. Ordering food online will also help to reduce the spread of the Covid-19 virus by reducing customer-seller contact, resulting in a safer climate.
Global online food delivery services market is segmented into channel type, type, payment method and region & country. On the basis of channel type, the market is segmented into website and application. On the basis of type, the market is segmented into platform-to-customer and restaurant -to-customer. On the basis of payment method, the market is divided into Online payment and Cash on delivery payment
The regions covered in this global online food delivery services market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of global food service services is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Amazon Launched Food Delivery Service in India
On May, 21st, 2020; Amazon is joining India’s online food delivery market just as top local players Swiggy and Zomato reduce their workforce to steer through the coronavirus pandemic and months after Uber Eats’ exit from the nation. The e-commerce giant, which has invested more than $6.5 billion in India, launched its food delivery service, called Amazon Food, in select parts of Bangalore. The company originally planned to launch the service in India last year, which it then moved to March but pushed it further amid the nationwide stay-at-home order the Indian government issued in late March.
Increasing Number of Working Population and Lack of Time as well as Rapid Growth of Internet and Improvement in Telecommunication Infrastructure are the Key Factors Driving the Market Growth
The increasing numbers of the working population and busy schedule, as well as use of smartphones and high-speed internet, are the major factors that are helping in the growth of online food delivery. Customers increasingly prefer online food ordering services by using various apps and websites. Online food ordering has many benefits such as time-saving process, ease of payment, convenient way to order the food, and good accessibility with food dealer. As a result, the growing popularity of online food ordering services can ensure deliveries of online food orders rapidly and more convenient for customers. For instance; according to the Journal of Sustainability, young adults around the world are rapidly accepting and embracing online food services. According to the Journal of sustainability, In India 2018, the company Foodpanda offered consumers large discounts, which helped Foodpanda increasing the number of users by a factor of 10, and in China, Ele.me spent three billion yuan over three months in a successful marketing strategy to increase its market share to more than 50 percent of the Chinese market. According to a 2019 survey of 1000 university students in Nanjing (China), at least 71.45% of them had used online food delivery for at least two years, and 85.1 percent had used it more than once a week.
Changes in consumer lifestyles, technological advancements, increases in consumer income and education, and rapid financial development throughout the world also fostering the market growth. In a way to gain profit online food delivery is the fastest growing marketing strategy for many businesses. Online food delivery helps to lead more customers by promoting their business through the food delivery app, customers are ordering their food from the comfort of their homes, offices, classrooms, hostels, and anywhere outside the without queuing.
However, improper handling of food packages during delivery can cause spoilage of food, and delay of food delivery vehicles due to traffic laws can also cause spoilage of food, and change in climatic conditions may hamper the market growth. In spite of that, more restaurants are joining the online food delivery services so the customers have more options of food and they can select various types of food from various restaurants. This can offer more opportunities for the further growth of the global online food delivery services market.
Global Online Food Delivery Services Market Segmentation:–
By Channel Type:
By Payment Method:
Cash on delivery payment
By Regional & Country Analysis:
North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Asia Pacific is Expected to Witness a Fastest Growth in the Global Online Food Delivery Services Market.
North America is expected to show a significant growth in the global online food delivery services market due to the growing number of food delivery services, the high trends of online fast foods in this region. Asia Pacific region is expected to witness a fastest growth in the global online food delivery services market.. The rapid growth of e-commerce in the last few years has occurred in China. The longer work and commute times, the rapid growth of the internet and improved security of electronic payments as well as an increasing number of restaurants on food delivery apps are also fostering the growth of the global online food delivery services market in this region. For instance; according to Media Research 2020, 78% of Chinese restaurants transferred their business to third party Food Delivery Apps such as Ele. me, Meituan Waimai etc. during the COVID-19 pandemic outbreak, Chinese food restaurants and catering enterprises registered on FDA (Food Delivery App) have increased by 63.1% in China and 70% of the surveyed restaurants will continue to operate and increase investment in FDA.