The global online food delivery services market size is expected to reach USD 63,551.77 million by 2025, registering a CAGR of 15.4% over the forecast period, according to a study conducted by Grand View Research, Inc. The market growth can be attributed to the availability of several delivering platforms and significant shift from using websites to using mobile application services for ordering food. The increasing internet & smartphone penetration among millennials and growth of the food & beverage industry are some factors anticipated to drive the market growth. Furthermore, the market is benefitted by some great services by major players, such as doorstep delivery, significant discounts, cashback offers and multiple payment options. Also, with the growing disposable income in the hands of the common man and the rising per-capita income in the developing countries are expected to boost the market growth rate in the coming years.
Market has also been mired with challenges; most recent one was the pandemic. COVID-19 has posed severe logistical problems to the delivering apps, however, as the lockdown restrictions were lifted market jumped back on the growth path quickly. Companies are emphasizing on enhancing logistics capabilities and consumer experiences. Additionally, adequate funding and investments in the market is one of the factors expected to drive the market growth. For instance, in February 2019, Zomato raised approximately USD 62.2 million in a funding round from multiple investors that included Delivery Hero, Naspers Limited, Chunwei Capital, and others. In addition to all this, new technological interventions are also boosting the delivering capabilities of the market. For example, Food delivery using robots, drones, and parachutes are gaining traction in the market. Such technological advancements in the online food delivery industry are anticipated to provide opportunities for market growth.
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Online Food Delivery Services Market Report Highlights
• Mergers & Acquisitions is one of the best strategies to have employed by key players to boost the growth and market expansion. For instance, in June 2020, Swiggy shut down its premium food delivery services platform in Mumbai, Scootsy, and merged the operations within the Swiggy app.
•On the basis of delivery type, the platform-to-consumer segment is expected to register a CAGR of more than 15.0% owing to the growing adoption of new app models that offset logistics costs
•On the basis of delivery channel, the growth of the mobile applications segment can be attributed to the availability of several food delivering platforms for customers and growing use of mobile applications to place orders
•On the basis of payment method, the online payment method is expected to register a noteworthy CAGR of over 13% owing to growing digitalization and adoption of cashless transactions in developing economies
•On the basis of region, Asia Pacific is expected to witness substantial growth owing to the rising disposable income, upgradation of retail formats, and increase in number of internet users & adoption of smartphones
•The key players operating in the market include DoorDash; Just Eat Holding Limited; Swiggy; Takeaway.com; and Uber Technologies Inc. These major players are focusing on introducing attractive plans to increase their customer base
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Online Food Delivery Services Market Segmentation
Grand View Research has segmented the global Online Food Delivery Services market based on type, channel type, payment method, and region:
Online Food Delivery Services Type Outlook (Revenue, USD Million, 2014 – 2025)
Online Food Delivery Services Channel Type Outlook (Revenue, USD Million, 2014 – 2025)
• Mobile Applications
Online Food Delivery Services Payment Method Outlook (Revenue, USD Million, 2014 – 2025)
• Cash on Delivery
Online Food Delivery Services Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa
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About Grand View Research
Grand View Research is an India & U.S. based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company’s rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.
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