Online Food Delivery Market size to reach US$ 223.7 Billion by 2027 | Growth Rate (CAGR of 11.44%)

November 03 12:13 2022
Online Food Delivery Market size to reach US$ 223.7 Billion by 2027 | Growth Rate (CAGR of 11.44%)
Online food delivery is a service wherein an individual can order food from local restaurants by using websites or applications. IMARC Group expects the market to reach US$ 223.7 Billion by 2027, exhibiting at a growth rate (CAGR) of 11.44% during 2022-2027.

According to IMARC Group’s latest report, titled “Online Food Delivery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global online food delivery market size reached US$ 106.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 223.7 Billion by 2027, exhibiting at a growth rate (CAGR) of 11.44% during 2022-2027.

Online food delivery is a service wherein an individual can order food from local restaurants by using websites or applications. It includes user registration and account maintenance as standard steps to make the process of ordering meals simple and straightforward. Unlike traditional fine dining restaurants or food outlets, it offers a precise menu and provides customers the freedom to order virtually as per their preferences. Apart from this, online food delivery applications equip users with several rewards, vouchers, and payment options, including credit cards, digital wallets, and cash on delivery (COD). Consequently, online food delivery is utilized by quick service restaurants (QSRs) to ensure effective order management, lower labor costs, and errors, and reduce waiting time and long queues.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Online Food Delivery Market Trends:

The rapid expansion in the food and beverage (F&B) industry and the extensive uptake of diverse online meal delivery business models by restaurants to gain profits, especially during the COVID-19 pandemic, are primarily driving the market growth. Moreover, growing consumer awareness regarding the benefits of using online food delivery platforms, such as cuisines diversity, easy accessibility, and instant delivery at the customers’ doorstep, is favoring the market growth. Additionally, the emergence of cloud kitchen outlets to increase the number of orders by providing hassle-free food delivery and the ongoing improvements in food-service logistics are propelling the market growth. Besides this, the implementation of promotional strategies, including targeted advertising and the availability of vouchers and discount coupons for loyal customers, are supporting the market growth.

Competitive Landscape with Key Players:

The competitive landscape and the profiles of key players operating in the global online food delivery market have also been examined in the report. Some of the key players in this market include:

  • Just Eat
  • GrubHub
  • Delivery Hero
  • Deliveroo
  • Takeaway.com
  • Foodpanda
  • Ele.me
  • Meituan Waimai

 

Key Market Segmentation:

The report has categorized the market based on platform type, business model and payment method.

Market Breakup by Platform Type

  • Website
  • Applications

 

Market Breakup by Business Model

  • Order Focused Food Delivery System
  • Logistics Based Food Delivery System
  • Full-Service Food Delivery System

 

Market Breakup by Payment Method

  • Online
  • Cash on Delivery

 

Market Breakup Region

  • China
  • North America
  • Asia Pacific ( excluding china)
  • Europe
  • Rest of the World

 

Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1120&flag=C

 

Key highlights of the report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

 

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

 

Related Reports by IMARC Group:

Business Travel Market: https://bit.ly/3E6qYAx

Car Sharing Market: https://bit.ly/3DWvbq4

 

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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