The new report by Expert Market Research titled, ‘Global Online Food Delivery Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global online food delivery market, assessing the market based on its segments like platform type, business model, payment method, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 85.8 Billion
- Forecast CAGR (2021-2026): 12%
- Forecast Market Size (2026): USD 169.4 Billion
The ease and convenience of ordering food via applications and easy comparisons among several restaurants and menus drives the global online food delivery market. In addition to this, these service providers make deliveries at desired locations and time, even at late hours, further boosting the demand for their service. The industry is seeing an upsurge due to the convenient payment options and the option to go cashless as customers seek virtual payment options due to various discount offers given by service providers as part of their promotional strategies. Moreover, in a few scrolls and clicks one can choose from a variety of cuisines from numerous outlets which garners likeability for such online food delivery service providers.
Industry Definition and Major Segments
Online food delivery is a service which provides a digital platform for consumers to buy food through a website or an application. Firstly, the customer searches her desired restaurant or food outlet and then selects the food items of her preference from their menu. Finally, either she chooses for pick-up or opt for home delivery. The payment options for the same include multiple options like credit card, debit card, digital wallet, net banking, or cash on delivery (COD).
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The online food delivery market is bifurcated into the following, based on platform type:
- Mobile Applications
- Website
Based on the business model, the industry is divided into:
- Order Focused Food Delivery System
- Logistics Based Food Delivery System
- Full-Service Food Delivery System
- Others
Different payment methods offered in the market are:
- Online
- Cash on Delivery
The major regional market encompass:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
In recent times, there has been an extraordinary increase in the purchase and usage of smartphones. This has given a sound foundation for launch and growth in demand of online food delivery applications as it is an important tool for a consumer to easily access and enjoy their service. In addition, there has been an increase in urbanisation and life of people have transformed into a hectic one too. This has led to customers increasingly opting for this service. Online food delivery service providers are also ensuring development of user-friendly food websites and applications, improved logistics, quality service, fast and easy complaint redressal and customer satisfaction which has helped build a trustworthy relationship with the consumers and boomed their market. The industry is expected to grow larger in the forecast period of 2021-2026.
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Key Market Players
The major players in the market are Just Eat, GrubHub, Food Panda, Delivery Hero, Deliveroo, Takeaway.com, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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