Online Food Delivery Market Size to Reach USD 128500 Million by 2027 at a CAGR of 6.5% | Valuates Reports

BANGALORE, India, Nov. 19, 2021 /PRNewswire/ -- The Online Food Delivery Market is Segmented by Type (Delivery, Takeaway), by Application (Family, Non-Family). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Food Service Category.

The global Online Food Delivery market size is projected to reach US$ 128500 million by 2027, from US$ 80370 million in 2020, at a CAGR of 6.5% during 2021-2027.

Major factors driving the growth of the online food delivery market:

The expansion of the online food delivery market is predicted to be fueled by an increase in the number of food ordering apps, as well as increased smartphone and internet usage.

The growth of the online food delivery market is likely to be fueled by an increase in the number of working people and their hectic lifestyles. The convenience that meal delivery applications provide is appealing to the working population.

Moreover, the people living in urban areas can avoid traffic congestion by ordering online instead of stepping out, and on the other hand, for the restaurant's the food delivery apps increase their sales. All these factors are expected to increase the growth of the online food delivery market.

Furthermore, as consumers increasingly seek virtual payment options that also offer them various discounts on occasion, the industry is finding an impetus for its growth in the ease of payment and the option to go cashless through these platforms, the industry is finding an impetus for its growth in the ease of payment and the option to go cashless through these platforms.

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TRENDS INFLUENCING THE GROWTH OF THE ONLINE FOOD DELIVERY MARKET:

The online food delivery market has emerged as a key industry thanks to the introduction of appealing, user-friendly apps and tech-enabled driver networks, as well as changing consumer expectations. Early on in the epidemic, lockdowns and physical separation rules provided the sector a huge boost, with delivery being a lifeline for the struggling restaurant industry. It is expected to become a permanent presence in the dining scene in the future.

Other important advantages of online meal delivery for foodservice companies include improved accuracy of online orders, better convenience, and simplified order processing, among others. Furthermore, online meal ordering can give foodservice operators valuable client information that can be used to develop promotional strategies such as targeted promotions to generate off-peak demand, specials tailored to certain customer categories, and couponing strategies. These factors are projected to accelerate the expansion of the online food delivery market.

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ONLINE FOOD DELIVERY MARKET SHARE

Based on type, the delivery segment is expected to be the most lucrative. Based on the region, the Asia Pacific region is expected to be the most lucrative. 

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ONLINE FOOD DELIVERY MARKET SEGMENTATION

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Key Companies

• Delivery Hero Holding
• Foodpanda
• Just Eat Holding
• Takeaway
• Grubhub
• Domino's Pizza
• Pizza Hut
• Foodler
• Deliveroo
• Ubereats
• McDonalds
• Seamless
• Subway
• Snapfinger
• Zomato
• Olo
• Yemeksepeti
• Meituan
• Go-Food
• Swiggy
• Eleme

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