Global Online Food Delivery Market is Estimated to Grow at a CAGR of 23.31% Over the Forecast Period, Owing to the Constant Innovation With the Changing Trend in Food Delivery Services, Says Absolute Markets Insights

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PUNE, India, April 16, 2020 /PRNewswire/ -- The online food delivery market has been through numerous changes ever since its inception. The consumers across the globe are embracing the introduction of food delivery services along with the constant innovation into it. The food delivery market is seeing a huge opportunity to build a high-quality affordable brand for food delivery with the introduction of a cloud kitchen. Major restaurant chains are launching a new set of affordable delivery-only brands that sell through food aggregators such as Zomato and Uber Eats. This will utilize the excess kitchen capacity and cloud kitchens to cash in on the food delivery business. This business infrastructure offers food brands with affordable and shared real estate space along with marketing, maintenance, and technology to launch the brand on food delivery apps at low capital investment. This business model is amplifying the food delivery market by posing an opportunity to invest in it and further will drive the growth of the online food delivery market in the forecast period.

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A large number of companies are experimenting with self-driving drones and robots to make transportation easier and more convenient. For instance, Domino's developed a self-driving pizza delivery robot and a delivery drone called DRU, and established a self-driving van delivery model in cooperation with Postmates. In addition, Ele.me in China is working on a pilot project using food delivery drones in Shanghai's Jinshan Industrial Park. The online food delivery companies are focusing on integrating virtual assistant systems that enable voice-ordering in their apps to offer enhanced and user-friendly experience to their consumers. The comfort, convenience, and fast delivery at the doorstep, along with attractive discount options, are luring customers to opt for online food delivery.. Hence, growing investment initiatives towards innovative food delivery mechanisms is expected to further supplement the growth of global online food delivery market over the forecast period.

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The detailed research study provides qualitative and quantitative analysis of online food delivery market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

Key Findings of the Report:

• On the basis of platform, the mobile application segment is expected to show maximum growth, due to increasing adoption of smart devices along with growing internet penetration.
• North America accounted for the maximum share in the global online food delivery market in 2018. This growth is attributed to the fast-paced lifestyle of the people in the United State. In addition, the Asia Pacific accounts the highest CAGR over the forecast period.
• Some of the players operating in the online food delivery market are Deliveroo, Zomato, Domino's,  Ele.me, Faasos Food Services Pvt. Ltd, Just Eat Limited., Swiggy, Foodpanda, Grubhub, Meituan Waimai, SkipTheDishes, Takeaway.com, Uber Eats, POSTMATES INC, DoorDash, amongst others.

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Online Food Delivery Market:

• By Type
• Aggregators
• Direct Restaurants
• By Platform
• Web-based
• App-based
• By End-user
• Individuals
• Corporates
• By Geography
• North America
• U.S
• Canada
• Mexico
• Rest of North America
• Europe
• France
• The UK
• Spain
• Germany
• Italy
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia Pacific
• Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

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About Us:

Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.

From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of Business Intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.

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SOURCE Absolute Markets Insights