According to the report by Expert Market Research (EMR), the global online food delivery market size reached a value of USD 148.07 billion in 2023. Aided by the rapidly evolving consumer preferences for convenience and an expanding digital infrastructure, the market is projected to further grow at a CAGR of 13.2% between 2024 and 2032 to reach a value of USD 451.92 billion by 2032.
Online food delivery services encompass platforms that offer consumers the convenience of ordering food from a diverse range of restaurants and food establishments directly through the internet, using mobile applications or websites. This model not only provides convenience but also offers a wider variety of cuisines and price points, catering to different consumer preferences. These platforms, usually driven by advanced algorithms, streamline the order and delivery process, ensuring the timely delivery of hot, ready-to-eat meals right at the customer’s doorstep.
A primary driver propelling the online food delivery market growth is the global urbanisation coupled with the increasing penetration of smartphones and high-speed internet. As city life gets ever more frenetic, consumers, especially among the younger demographics, are constantly seeking ways to save time. This trend has accelerated the shift from traditional dine-ins to online food orders, given the ease and convenience they offer.
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Another notable factor is the enhancement of the digital infrastructure across the globe. Emerging economies, in particular, have been witnessing an extensive expansion of their internet capabilities, enabling even the more remote regions to access online services, including food delivery. This has increased the online food delivery market size, ensuring that online food delivery platforms can cater to a larger and more diverse audience.
The continuous innovations and investments in tech-driven solutions by online food delivery platforms have further accentuated the market growth trajectory. Features like real-time tracking, AI-driven food recommendations, contactless payments, and diverse payment gateway integrations have not only improved user experience but have also instilled a sense of trust and reliability among consumers.
Furthermore, with the recent global events such as the COVID-19 pandemic, there’s been an evident surge in the consumer base of online food delivery platforms. With restrictions on outdoor movements and a generalised concern about public spaces, consumers have largely turned to online food delivery as a safer alternative. This shift, albeit driven by extrinsic factors, has established a robust foundation for the online food delivery market outlook.
The realm of online food delivery is also diversifying its offerings. Beyond just restaurant foods, platforms are now venturing into the delivery of groceries, gourmet meals, health drinks, and even alcohol in some regions. This broadened spectrum ensures that they cater to almost every palate and need of the modern consumer.
Online Food Delivery Market Segmentation
The market can be divided based on platform type, business model, payment method, and region.
Market Breakup by Platform Type
- Mobile Applications
- Websites
Market Breakup by Business Model
- Order Focused
- Logistics Based
- Restaurant Specific
Market Breakup by Payment Method
- Online
- Cash on Delivery
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Online Food Delivery Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global online food delivery market. Some of the major players explored in the report by Expert Market Research are as follows:
- Uber Technologies Inc.
- DoorDash, Inc.
- Delivery Hero SE
- Meituan Inc.
- Just Eat Takeaway.com N.V.
- Domino’s Pizza, Inc.
- Roofoods Ltd
- Yum! Brands Inc.
- Demae-Can Co., Ltd
- Bundl Technologies Private Limited
- Zomato Limited
- Eda, LLC
- Rappi Inc.
- Others
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