Global Online Food Delivery Services Market Size 2024, Forecast To 2033
11 Mar, 2024
The online food delivery services market size has experienced rapid growth, advancing from $143.05 billion in 2023 to $159.46 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period is attributed to increased economic growth in emerging markets, heightened internet penetration, and increased availability of mobile devices. Projections for 2028 indicate steady growth, reaching $178.4 billion with a CAGR of 2.8%. The expected growth in the forecast period is linked to the Internet of Things (IoT), artificial intelligence, increasing smartphone users, the impact of COVID-19, a growing workforce, and government initiatives. Noteworthy trends in this period include collaboration with tech giants, investments in expansion, investment in robot and drone technologies, the launch of contactless delivery features, investment in virtual kitchens, the adoption of self-driven cars for fast and low-cost delivery, and the adoption of green transport solutions.
Global Online Food Delivery Services Market Key Driver
An increase in smartphone users has given a boost to online food delivery services worldwide. Smartphone users are the primary online shoppers for the F&B industry, and an increase in the number of smartphone users reflects a potential increase in online shopping for food and beverages. For instance, in July 2023, according to DemandSage, a US-based data reporting and analytics solutions provider, 86% of the population around the globe owns a smartphone. There are 6.8 billion smartphone users worldwide as of 2023. In the United States 94.4% millennials own a smartphone. Nearly half of the U.S. population dedicates 5 to 6 hours per day to using smartphones. Hence, an increase in smartphone users and internet penetration is driving growth in online food delivery services market. The market size for online food delivery services is projected to expand further in 2028 due to the increasing reliance on digital platforms for food consumption.
Get A Free Sample Of The Global Online Food Delivery Services Market ReportGlobal Online Food Delivery Services Market Segments
The online food delivery services market covered in this report is segmented –
1) By Type: Platform-To-Consumer, Restaurant-To-Consumer
2) By Channel Type: Websites, Mobile Applications
3) By Payment Method: Cash-On-Delivery, Online Payment
By Geography:The regions covered in the online food delivery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Western Europe was the largest region in the online food delivery services market in 2023. Asia-Pacific was the second largest region in the global online food delivery services market report. The regions covered in the online food delivery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Online Food Delivery Services Industry Players
Uber Technologies, Inc. (Uber Eats), Meituan Dianping, Just Eat Takeaway.com N.V., Delivery Hero SE, Domino's Pizza, Inc., Grubhub Inc., DoorDash Inc., Deliveroo, Swiggy, Zomato, Foodpanda, Ele.me, Baedal Minjok, Yogiyo, TESCO (UK), Morrisons (UK), Glovo, Tazz, Gurmandio, Yandex, LifeBox, Fit4you Delivery, Seamless, Postmates, Gopuff, Instacart, Munchery, Eat24, SkipTheDishes, TimHortons, iFood, HelloFood, 99Food, Quero Delivery, Rappi, Menulog, Sampa Food Dublin, Foodak, Talabat, Crave App, Wishbox, Rafeeq, Carriage, Akly, Eateasy, Careem Now, Fingertips, Entertainer, SoFresh, Mr D Food, UCook, Orderin, Jumia Food, Yum Deliveries, Areachops, Homechow, The Flying Pan
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Online Food Delivery Services Market Overview
Online food delivery services refer to a shipping service for food in which companies are involved in distributing the packages received from hospitality establishments and have an online portal or application for their sales. The food can be either ready-to-eat food or food that has to be specially prepared for direct consumption.
Online Food Delivery Services Global Market Report 2023 provides data on the global online food delivery services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The online food delivery services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.