USD 50.70 billion
Report ID: SQMIG45E2185 | Region: Global | Published Date: November, 2023 | Pages: 157 | Tables: 61 | Figures: 75
The Global Online food delivery services market size was valued at USD 50.70 billion in 2021 and is poised to grow from USD 60.18 billion in 2022 to USD 237.17 billion by 2030, growing at a CAGR of 18.7% in the forecast period (2023-2030).
The market for online food delivery services has transformed in the digital age, going through a period of significant growth and changing the way consumers avail dining options. The easy access to a diverse range of cuisines and restaurant options browsed on digital platforms and mobile apps has led consumers to support market expansion.
Evolving lifestyles have propelled market growth. Consumers seek the convenience of having restaurant-quality food delivered to their homes. The market demand has risen as smartphone usage has increased and internet accessibility has surged. This has made it easier to order and track food deliveries. The lockdowns and social distancing measures that were established during the COVID-19 pandemic bolstered the adoption of online food delivery services.
There is intense competition in the market. Many firms are fighting for market supremacy, from multinational behemoths to regional and local platforms. Through these platforms, patrons can access a vast array of eateries that cater to different tastes and budgets. In addition, new inventions that capitalize on the trend by specializing in meal delivery, including cloud kitchens, have surfaced.
Food safety, sustainability, and profitability are some of the other issues the industry must deal with. Delivery logistics can be tricky, and fierce competition frequently results in price wars that reduce business margins. The industry is being pushed to look toward eco-friendly solutions by sustainability worries about delivery emissions and packaging. The market for online meal delivery services is predicted to increase despite these obstacles due to changing consumer tastes and continuous technology developments.
Global Market Size
USD 50.70 billion
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The Online Food Delivery Services Market is segmented by Type, Channel Type, Payment Method, and Regional. Based on Type the market is segmented as, Restaurant-to-Consumer, Platform-to-Consumer. Based on Channel Type the market is segmented as, Websites/Desktop, Mobile Applications. Based on Payment Method the market is segmented as, Cash on Delivery, Online Regional the market is segmented as, North America, Asia Pacific, Latin America, and Middle East & Africa (MEA).
Analysis By Type
Restaurant-to-Consumer or R2C has led the online food delivery market. Here, users can directly place orders with restaurants via their own websites. Consumers are drawn to the R2C segment as they prefer the familiarity that comes with ordering directly from well-known and trusted local chains or restaurants.
Platform-to-Consumer or P2C is the market’s quickest developing segment. Here consumers use intermediary third-party platforms to place their orders. This segment includes platforms like UberEats, Swiggy, and DoorDash. These platforms collaborate and communicate with a large number of restaurants. This is so that they can provide users with a diverse range of dining options on a single platform. P2C services have massive appeal due to some advantages they offer. Features like special promotional offers and real-time tracking and the ease of having a range of choice in one place have propelled this segment’s growth.
Analysis By Channel
The mobile application segment has typically led the market. This segment has revolutionized the way consumers deal with food delivery services. The accessibility and ease of ordering food with the use of mobile apps has driven category growth. Smartphone users can conveniently browse restaurant options and menus, place orders, track food deliveries, and even make contactless payments, all from one portal.
Features like personalized recommendations, location-based services, and real-time order tracking improve user experience and propel market growth. Consumers prefer this segment as they can order food on-the-go, anywhere and anytime, via mobile apps.
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The United States has largely contributed to market growth in North America, which holds the top position in the market. The U.S. has been there since day one in the revolution of online food delivery. The country houses many major market participants. They include DoorDash, UberEats, and Grubhub. Other factors that have cemented the region’s supremacy in the market are busy lifestyles, tech-savvy population, and a flourishing food service industry.
China’s contribution has led the APAC region to follow closely behind North America, making it the second-largest market region. Consumers in China are one of the first adopters of mobile app-based food delivery. The leading regional delivery platforms included Meituan Dianping (Meituan) and Ele.me (now part of Alibaba Group). Asia-Pacific’s growing urbanization and the option to conveniently order several cuisines has pushed the region’s growth in the market.
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The online food delivery services market’s competitive environment is made up of industry participants striving to gain market share. Market leaders consisted of Grubhub, DoorDash, and UberEats, among others. These companies, along with regionally dominant platforms, were at the top of the market.
UberEats is an extension of Uber. This food delivery platform has put a lot of location pins in its reach. It did so by expanding its logistics network and leveraged its existing user base. Grubhub is another renowned name in the industry and is based in the U.S. The company has spread its restaurant network and advanced its delivery capabilities. DoorDash is headquartered in the US. This company has targeted strong alliances with local restaurants and quick delivery.
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According to our Global Online food delivery services market analysis; the global online food delivery services market, driven by changing consumer preferences and digital transformation, showcases regional nuances and is segmented by various factors. North America and Asia-Pacific were prominent regions in the market. In North America, led by the United States, busy lifestyles and tech-savvy consumers fueled demand for convenient food delivery via mobile applications. Meanwhile, Asia-Pacific, with China as a key player, embraced online food delivery due to urbanization and the adoption of smartphones. The market segments include a wide array of cuisines, catering to diverse tastes. Drivers behind its growth include the rise of digital ordering platforms, accelerated by the COVID-19 pandemic, and consumers' desire for convenience. Moreover, technological advancements, such as AI-driven recommendations and route optimization, enhanced the user experience. However, profitability challenges, intense competition, and regulatory complexities acted as restraints. The dynamic nature of this market continues to evolve, with sustainability and data privacy becoming increasingly significant factors influencing its future trajectory. For the latest insights, consulting recent industry reports is advisable.
|Market size value in 2021||USD 50.70 billion|
|Market size value in 2030||USD 237.17 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Online Food Delivery Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Online Food Delivery Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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