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Online Food Delivery Services Market

Online Food Delivery Services Market By Type (Restaurant –to- Consumer, Platform - to- Consumer), Channel Type (Website/ Desktop, Mobile Application), Payment Method (Cash on Delivery, Online) & Region - Forecast to 2021 - 2031

Online Food Delivery Services Market By Type (Restaurant –to- Consumer, Platform - to- Consumer), Channel Type (Website/ Desktop, Mobile Application), Payment Method (Cash on Delivery, Online) & Region - Forecast to 2021 - 2031

Online Food Delivery Services Market - Analysis, Outlook, Growth, Trends, Forecasts

Online Food Delivery Services Market Snapshot

[250 Pages Report] The sales for online food delivery services market forecast is estimated to be valued at US$ 37,982 Mn in 2021. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 10, 26,439 Mn by 2031, rising at a CAGR of 9.5% for 2021-31.

Consumersonline exposure has grown significantly. Rising internet prevalence and drastically increased smartphone accessibility are enhancing their online exposure. Several markets have benefited from the scenario. Online food delivery services may be among those who have benefited the most from the current circumstances. The amazing evolution of food delivery aggregators such as Swiggy and Zomato in the Indian market demonstrates the industry's success. Furthermore, sociological food delivery industry trends such as the growing number of families with dual income earners and changing consumer lifestyles are propelling the online food delivery services market ahead.

Online Food Delivery Services Market business research performed by FMI includes key findings such as the latest and speculative production capacity, capacity utilization rates of each manufacturer, recent and speculative pricing, and price optimization strategy across the value chain, as well as an economic evaluation of online food delivery services market production.

2016-2020 Online Food Delivery Services Market Outlook in Comparison to 2021-2031 Growth Forecast

Future Market Insights estimates the market to remain lucrative, manifest growth at 9.5% CAGR between 2021 and 2031 in contrast to the CAGR of 7.6% posted between 2016 and 2020.

North America is likely to dominate the market on a regional level. However, Asia Pacific is anticipated to develop at a faster rate during the online food delivery services forecast period. The platform to the consumer market, in terms of delivery type, is expected to increase rapidly in the future years. The segment will be driven by increased investment in this approach, particularly in capital cities.

The restaurant to consumer segment, on the other hand, dominated the market in 2016. Subscription services and loyalty schemes offered by restaurant owners will help the model survive.

Country-wise Analysis

Consumer Inclination towards Time Saving and Convenience are Factors Driving the Growth of the U.S Market

According to FMI, the U.S. is the prominent country in North America with a market share of 91.2% in 2021.Is expected to grow at a CAGR of 8.0% through the forecast period.

When a person finds himself short on time owing to daily activities such as work and leisure activities, he would look for ways to save time. In the last decade due to busy schedules and changing lifestyles, consumers prefer not to wait for the food at restaurants and instead want the food delivered to them at their workplace or home. The rise in the population of Millennials and Gen Z has fuelled the growth of the US online delivery services market.

Covid-19 induced lock-down and Perceived ease of use has Surged China’s Online Food Delivery Services Market

China’s online food delivery market was growing gradually but the sudden change due to pandemic induced lock-down has reshaped the growth of online food delivery services in China as more consumers prefer to order from the safety of their home and ease of use of the food delivery application has impacted the online food delivery market augmenting the exponential growth in the forecasted period.

The total market revenue generated by online food delivery services in 2021 was US$ 29,977 Mn and is expected to grow at a lucrative CAGR of 10.3% over the forecasted period.

Rapid Digitalization and Urbanization is Expected to Expand the Indian Online Food Services Market 

The India online food delivery services forecast market size in 2021 is estimated to account for a value of US$ 169, 45 Mn. The growth in the market is owed to the expansion of digitalization and increased disposable income of individuals because of more number of people migrating to urban areas.

Growth in the size of the urban population and easy access to online services/mobile applications has surged the market of on-demand food delivery platforms as consumers want variety in a taste of food and cuisine type.

The Surge in Technology-Enabled Delivery and Privacy & Security has Contributed to Growth in Japan’s Online Food Delivery Market

As Japan is ahead in technology innovations and research they have enhanced the privacy and security of online space which has influenced customers optimistically to do the online transaction with confidence giving a boost to the online food delivery market furthermore, online food delivery services market is expected to grow at impressive CAGR of 7.9% and the Japan market was estimated at US$ 196, 38 Mn in 2021.

Online Food Delivery Services in Germany has Grown owing to top Changing Life Styles of consumers

The number of Gen Z is increasing in Germany and with advancements in the technology and online space, their behavior intention is inclining towards online food delivery services due to Ease of Use, internet penetration, Security and Privacy, Time management. Consumers want to try new cuisines from the comfort of their homes which are the major factors for the growth of the market.

Germany holds 20.3% of the market share which is maximum in the European region and is expected to grow at a lucrative CAGR of 9.8% in the forecasted period.

Category-wise Insights

Acquisitions & Mergers in the Online Food Delivery Market will provide Exponential growth to the Platform Consumer Segment

The global market for online food delivery services is expanding, and this trend is expected to continue in the coming years owing to multiple investments in this space and major players acquiring the smaller ones to enhance their reach in the global market this provides local or regional companies with competitive technologies and tried and tested methods. 

As a result, based on delivery type, the platform to consumers segment is expected to grow exponentially over the forecast period with a CAGR of 9.8%.

Mobile Application Segment to Dominate the Online Food Delivery Services Market

Mobile applications have penetrated the market owing to digital transformation and reduced cost of mobile devices because of technology advancements more individuals are able to purchase mobile devices which is the driving force behind the growth of the mobile application segment in the online food delivery services market. Based on Order type, the mobile application segment is expected to witness a growth rate of CAGR 9.6% over the forecasted period.

Enhanced Privacy and Security Systems have Fuelled the Growth of Online Payments

Privacy and Security are positively interrelated, the higher the level of customer confidence in online shopping, the more privacy and security are secured. Trustworthiness is necessary while online shopping, the more trust in companies handling personal information and security the more inclined consumers behavior towards online food delivery services.

By payment method, the online segment is expected to grow at an attractive CAGR of 9.0% over the forecasted period. The market share of online transactions is estimated to be 81.5% in 2021.

Competition Landscape: Top Online Food Delivery Services Market Companies

  • According to FMI market research analysis, Deliveroo, DoorDash, foodpanda, Postmates, etc are the key players of online food delivery services. Major acquisition are going on in the market owing to potential growth projected in coming years. For instance In December 2020, Uber acquired Postmates for US$ 2.65 Bn.

Scope of Report

Attribute

Details

Market Size Value in 2020

US$ 3,50,000 Million

Market Forecast Value in 2031

US$ 10,26,439.5 Million

Global Growth Rate

9.5%

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Delivery type, Order type, Payment type and Regions

Key Companies Profiled

  • Deliveroo
  • DoorDash
  • foodpanda
  • GrubHub
  • Just Eat Holding Limited
  • Postmates Inc.
  • Swiggy
  • Takeaway.com
  • Zomato
  • Uber Technologies, Inc.
  • Others

Pricing

Available upon Request

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Market Segments Covered in Online Food Delivery Services Industry Analysis

By Delivery Type:

  • Restaurant to Consumer
  • Platform to Consumer

By Order Type:

  • Website/Desktop
  • Mobile Application

By Payment Method:

  • Cash on Delivery
  • Online

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

Key Questions Answered in the Report

How much is the Online Food Delivery Services Market current worth?

Currently Online food delivery services Market is worth more than US$ 1,026.44 Bn.
Online food delivery services Market is expected to grow at a CAGR of around 9.5% during the period 2021-2031.
In terms of revenue Online food delivery services Market grew at a CAGR of around 7.6% during 2016-2020
Increasing consumer inclination towards on the go food, while population growth played a role, the majority of the growth came at the expense of the grocery industry, as millennials and Gen Z prefer the convenience of ready-to-eat meals.
Market players are trying to increase their profit margins as the fixed costs are increasing they are trying to balance out the dine-in and online delivery space.
The US, China, India, Japan, and Germany are the major countries driving demand for online food delivery Services Market.
Latin America is estimated to grow at a CAGR of 12.5% over the forecast period.
US online food delivery services market is projected to grow at a CAGR of around 7.9% over the next ten years.
The report presents a detailed cost analysis of the online food delivery services market based on delivery type i.e. platform to consumer and restaurant to consumer.

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