The global online food delivery services market size is
expected to reach USD 63,551.77 million by 2025, registering a CAGR of
15.4% over the forecast period, according to a study conducted by Grand View
Research, Inc. The market growth can be attributed to the availability of
several delivering platforms and significant shift from using websites to using
mobile application services for ordering food. The increasing internet &
smartphone penetration among millennials and growth of the food & beverage
industry are some factors anticipated to drive the market growth.
Food delivery services offer various benefits
such as doorstep delivery, significant discounts, cashback offers, and multiple
payment options for attracting users. Furthermore, with the rising per capita
income, middle-class and high-income populace in developing economies are
witnessing significant changes in their living standards and eating preferences.
Such favorable changes in lifestyle are expected to contribute to the market
growth over the forecast period.
Moreover, smartphones enable customers to
order food quickly & conveniently and using multiple payment options. Most
consumers ordering food prefer their orders to be delivered at their doorstep.
Thus, the increasing penetration of smartphones and internet is encouraging
users in developing countries to install food delivery apps.
Companies are emphasizing on enhancing
logistics capabilities and consumer experiences. Additionally, adequate funding
and investments in the market is one of the factors expected to drive the
market growth. For instance, in February 2019, Zomato raised approximately USD
62.2 million in a funding round from multiple investors that included Delivery
Hero, Naspers Limited, Chunwei Capital, and others.
Numerous companies are adopting optimized
delivery modes, which can considerably speed up delivery and reduce operational
costs. Food delivery using robots, drones, and parachutes are gaining traction
in the market. Such technological advancements in the online food delivery
industry are anticipated to provide opportunities for market
growth.
For full research report on Online Food
Delivery Services Market visit here: https://www.grandviewresearch.com/industry-analysis/online-food-delivery-services-market
Further key
findings from the study suggest:
- The platform-to-consumer segment is expected
to register a CAGR of more than 15.0% owing to the growing adoption of new
app models that offset logistics costs
- The restaurant-to-consumer segment accounted
for more than 40% of market share in 2018 owing to the focus of
aggregators on maintaining their market presence through implementation of
cloud kitchens
- The growth of the mobile applications segment
can be attributed to the availability of several food delivering platforms
for customers and growing use of mobile applications to place orders
- The online payment method is expected to
register a noteworthy CAGR of over 13% owing to growing digitalization and
adoption of cashless transactions in developing economies
- Asia Pacific is expected to witness
substantial growth owing to the rising disposable income, upgradation of
retail formats, and increase in number of internet users & adoption of
smartphones
- The online food delivery services market is
highly fragmented with the presence of established, local players. The key
players operating in the market include GrubHub and Postmate Inc., among
others
- The major players are focusing on introducing
attractive plans to increase their customer base.
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Grand
View Research has segmented the global online food delivery services market
based on type, channel type, payment method, and region:
Online Food
Delivery Services Type Outlook (Revenue, USD Million, 2014 - 2025)
- Restaurant-to-Consumer
- Platform-to-Consumer
Online Food
Delivery Services Channel Type Outlook (Revenue, USD Million, 2014 - 2025)
- Websites/Desktop
- Mobile Applications
Online Food
Delivery Services Payment Method Outlook (Revenue, USD Million, 2014 - 2025)
- Cash on Delivery
- Online
Online Food
Delivery Services Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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