Feeding the Future: Online Food Delivery Market to Experience 11.1% CAGR through 2028

DUBLIN, Sept. 4, 2023 /PRNewswire/ -- The "Online Food Delivery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global online food delivery market has witnessed remarkable growth, with a market size of US$ 121.4 Billion in 2022. The market is anticipated to further expand, reaching US$ 250.0 Billion by 2028, reflecting a notable Compound Annual Growth Rate (CAGR) of 11.1% during the period from 2023 to 2028.

Online Food Delivery: A Convenient and Booming Trend

Online food delivery involves the process of ordering and receiving food items at customers' doorsteps through various food delivery websites and applications, utilizing computers or smartphones. Customers can easily browse favorite restaurants, select items, choose payment methods, and confirm orders through this convenient method.

This trend is rapidly gaining traction among consumers and food service providers alike, benefiting both parties. For consumers, online food delivery offers convenience, speed, and accuracy, while food service providers see opportunities for increased revenue, reduced labor costs, and minimized errors.

Factors Driving Market Growth

The growth of the online food delivery market is attributed to factors such as the widespread adoption of smartphones and internet connectivity. This combination enables customers to easily and swiftly order food at their convenience.

Online food delivery provides a wide array of food options accessible through smartphones, with the added convenience of doorstep delivery. The benefits extend to food service providers as well.

One of the most significant advantages of online food delivery is labor savings, as staff is not tied up on the phone or at the counter. Furthermore, enhanced accuracy of online orders, increased guest convenience, streamlined order processing, and access to valuable customer information are notable benefits for food service providers.

Market Segmentation and Key Players

The global online food delivery market is segmented based on platform type, business model, payment method, and region. Mobile applications and websites constitute platform types, while business models include order-focused, logistics-based, and full-service systems. Payment methods encompass online payments and cash on delivery.

In terms of regions, the market is divided into China, North America, Asia Pacific (excluding China), Europe, and Rest of the World. China holds the largest share in the market.

Key players in the market include Just Eat, GrubHub, Delivery Hero, Deliveroo, Takeaway.com, Foodpanda, Ele.me, and Meituan Waimai.

Key Questions Addressed in the Report

The comprehensive report provides insights into various aspects of the global online food delivery market, including:

• Market size and growth projections for 2022 and 2023-2028
• Market drivers and industry trends
• Impact of COVID-19 on the market
• Breakdown by platform type, business model, payment method, and region
• Profiles of key players in the market

Key Attributes:

For more information about this report visit https://www.researchandmarkets.com/r/ynx716

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SOURCE Research and Markets