Global Online Food Delivery Services Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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The global online food delivery services market is expected to grow from $107.44 billion in 2019 and to $111.32 billion in 2020 at a growth rate of 3.61%. The slow growth in 2020 is mainly due to the economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to grow and reach $154.34 billion in 2023 at CAGR of 11.51%. An increase in smartphone users has given a boost to online food delivery services worldwide.
The online food delivery services market consists of sales of online food delivery services and related services primarily for household consumption. The online food delivery services market includes all companies involved in distributing the packages received from hospitality establishments and have an online portal or an 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 service has two segments, restaurant-to-consumer delivery includes delivery of order directly by the concerned restaurant, whereas, Platform-to-consumer segment involves online delivery services that deliver orders of partner restaurants.
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The Global Online Food Delivery Services Market is further segmented based on type, channel type, payment method and geography.
By Type: Platform-to-Customer, Restaurant -to-Customer.
By Channel Type: Websites, Mobile Applications.
By Payment Method: Cash On delivery, Online Payment
By Geography: The global online food delivery services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific online food delivery services market was the largest region in the global online food delivery services market 2019.
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Trends In The Online Food Delivery Services Market
Upgradation of the distribution network to a more decentralized system, Distribution 4.0, is trending in the food delivery services market. In Distribution 4.0, suppliers’ partner with multiple players for the best market coverage between urban and rural markets, focusing their efforts on marketing, branding, and in-store merchandising to create best-in-class shopper experience. They are likely to partner with aggregators, e-comm delivery companies, rural distribution companies, and distribution arms of modern trade to drive coverage.
Online Food Delivery Services Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides online food delivery services market overviews, analyzes and forecasts market size and growth for the global online food delivery services market, online food delivery services market share, online food delivery services market players, online food delivery services market segments and geographies, online food delivery services market’s leading competitors’ revenues, profiles and market shares. The online food delivery services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.