According to the report by Expert Market Research (EMR), the global online food delivery market size reached a value of around USD 148.07 billion in 2023. Aided by the burgeoning consumer demand for convenience, coupled with the integration of advanced technology in food service, the market is projected to grow at a CAGR of 13.2% and to reach around USD 451.92 billion by 2032.
Online food delivery services have revolutionized the way consumers interact with the food service industry. These platforms provide easy access to a wide range of culinary options, catering to diverse dietary preferences and needs. As lifestyles become busier and more urbanized, the demand for quick, convenient meal solutions is on the rise, significantly driving the market forward.
Global online food delivery market growth is fuelled by technological advancements. The proliferation of mobile technology and high-speed internet has dramatically enhanced the accessibility and efficiency of online food delivery services. Innovations such as GPS tracking, AI-powered customization, and mobile payment integration have streamlined the ordering process, making it more engaging and user-friendly. Additionally, developments in data analytics allow platforms to offer personalized dining recommendations based on user behaviour and preferences, further enhancing customer satisfaction.
Get a Free Sample Report with Table of Contents
https://www.expertmarketresearch.com/reports/online-food-delivery-market/requestsample
As per the online food delivery market analysis, today’s consumers, particularly millennials and Gen Z, prioritize convenience and speed, driving the adoption of online food delivery services. The pandemic has accelerated this trend, as safety concerns led many to prefer home delivery over dining out. This shift is expected to endure beyond the pandemic, embedding online food delivery as a staple in daily life.
The growth in dual-income households worldwide has increased disposable incomes, fostering a willingness to spend on convenience-driven services like food delivery. However, this increase in earnings is coupled with a decrease in time available for traditional cooking, propelling the demand for quick and easy meal solutions, leading to online food delivery market expansion.
Additionally, the market is also affected by expansion of the gig economy. The gig economy has been instrumental in supporting the online food delivery market. A flexible, on-demand workforce has allowed companies to scale operations without the commitments of traditional employment, ensuring rapid delivery times and high service levels during peak demand periods.
Read Full Report with Table of Contents:
https://www.expertmarketresearch.com/reports/online-food-delivery-market
Emerging markets present lucrative opportunities for expansion due to their growing middle-class populations and increasing internet penetration. Entering these markets can further boosts the online food delivery market share growth but requires tailored strategies to accommodate local tastes and preferences.
As environmental concerns become more prominent, consumers are increasingly valuing sustainability in their dining choices. Online food delivery services that adopt eco-friendly practices, such as biodegradable packaging and optimized delivery routes to reduce carbon footprints, are gaining favor. Also, advanced technologies like AI for predictive analytics, drone delivery systems, and robotic service aids are setting new trends in the market, promising enhanced efficiency and customer engagement.
As per the online food delivery market outlook, the market is poised for significant growth, shaped by technological innovation, evolving consumer habits, and socio-economic factors. As the landscape continues to evolve, adaptability and responsiveness to consumer demands and industry trends will be key for companies aiming to secure their position and succeed in this competitive market.
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
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Competitive Landscape
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
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact
Company Name: Claight Corporation
Contact Person: Emily Jacks, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website:www.expertmarketresearch.com
