Online Food Delivery Market Outlook 2022-2027
Online Food Delivery Market Outlook
Online food delivery involves delivering food ordered from a website or other application. The product can be either food that has been specially prepared for direct consumption or ready-to-eat (RTE) food. These systems are categorized into platform-to-consumer and restaurant-to-consumer delivery types.
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 applications offer access to multiple food establishments based on consumer preferences. They also provide flexibility in payment methods, such as net banking, food coupons, cash-on-delivery, and credit/debit cards. Apart from this, online food delivery platforms enable consumers to create an account for easy menu comparisons, fast checkout, hassle-free ordering, and minimum human intervention.
Online Food Delivery Market Trends:
The rising consumer expenditure power and the increasing penetration of smartphones and internet connections are some of the key factors accelerating the market growth. Moreover, the surging working population and hectic lifestyles have increased the demand for RTE food products, which is creating a positive outlook for the market.
Additionally, the recent COVID-19 outbreak prompted a gradual shift toward online food delivery services to mitigate the risks of infection, which, in turn, is bolstering the market growth.
In line with this, key market players are implementing promotional strategies by identifying recurring consumers and taste patterns and integrating the internet of things (IoT), artificial intelligence (AI), and predictive and big data analytics to provide a personalized experience, which is positively contributing to 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
- Delivery Hero
- 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
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
- Cash on Delivery
Market Breakup Region
- North America
- Asia Pacific (excluding China)
- Rest of the World
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.
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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.
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