According to a new market research report published by Credence Research “Online Food Delivery Services Market (Delivery Type – Restaurant-to-Consumer Delivery and Platform-to-Consumer Delivery; Restaurant Type – Franchises and Standalone Restaurants) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the Online food delivery services market was valued at US$ 81.56 Bn in 2017 and will be growing at a CAGR of 9.8% during the forecast period from 2018 to 2026.
The demand for online food delivery services was estimated at USD 81.56 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 9.8 per cent during the forecast period from 2018 to 2026. In recent years, the distribution of online food has seen rapid growth. Such services allow customers to order food from a variety of restaurants with a single tap on their mobile phone. The growth of digital technology has reshaped the market for food delivery services, and consumers expect the same convenience and accessibility that they are used to while shopping online through apps or websites. Adequate funding and investments in this market space has been one of the most prominent factors aiding the online food delivery services market growth. The popularity of online food delivery services has been mostly the result of the numerous benefit it renders such as doorstep delivery, attractive discounts, rewards & cashback offers and various payment options.
There is intense competition between players participating in the market for online food delivery services. To order to thrive in a competitive market, players are often engaged in a discount-driven battle. For example, Zomato, an Indian restaurant search, discovery and delivery company, costs about US$ 20 million as a result of the various discounts it offers to its customers. Moreover, the same deep discounting strategy of the organization also aims to add new customers to the network. There are also developments in the industry, such as robot delivery being tested by some retailers.
Asia Pacific recorded the fastest growth in the forecast period from 2018 to 2026. Higher disposable income, a greater number of people with access to the Internet, an increase in the spread of smartphones and families with Double-Income-No-Kids (DINKS) are some of the most important factors contributing to the growth of the food delivery services market in the region.
Key players profiled in the report include UberEats, Grubhub, Deliveroo, Domino’s, Just Eat, Swiggy, Zomato, Food Panda, DoorDash and Pastmates among others.
Report Scope by Segments:
The report categorizes the market in terms of delivery type, restaurant type and geography.
Delivery Type (2016–2026; US$ Bn)
- Restaurant-to-Consumer Delivery
- Platform-to-Consumer Delivery
Restaurant Type (2016–2026; US$ Bn)
- Standalone Restaurants
Current trends in the online food delivery services market:
- An increasing number of consumers are ordering food online and at a higher frequency
- Technology will play a crucial role in the years to come
- The market will witness fierce competition between in-house and third-party delivery service providers
- Artificial intelligence solutions and drone delivery might be rolled out
- Increasing use of analytics
Key questions answered in this report:
- What was the global online food delivery services market size in 2017 and forecast for 2026?
- What are the current trends in the online food delivery services market?
- What are the various valuable opportunities for the players in the market?
- Which is the largest regional market for online food delivery services market?
- Which region expected to be the fastest growing and why?
- What are the future prospects for the online food delivery services market?