Authored By: Sarah
27 Jun 2024

 Online On-Demand Food Delivery Services Market Size to grow by USD 559.2 billion between 2024-2028

According to a research report “ Online On-Demand Food Delivery Services Market” by Business Segment (Order-focused food delivery services, Logistics-focused food delivery services) Type (Restaurant-to-consumer, Platform-to-consumer) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 559.2 billion, at a CAGR of  34.65% during the forecast period. The online on-demand food delivery market has witnessed a significant surge in strategic collaborations between restaurants and food aggregators globally. These alliances enable restaurants to expand their reach to a broader customer base, while food aggregators benefit from increased restaurant partnerships. Moreover, vendors of online food delivery services are forging contracts with established restaurants, providing valuable customer insights and data analytics in return. These partnerships are anticipated to foster market expansion throughout the forecast period.

Browse market data tables, figures, and in-depth TOC on “Online On-Demand Food Delivery Services Market” by Business Segment (Order-focused food delivery services, Logistics-focused food delivery services) Type (Restaurant-to-consumer, Platform-to-consumer) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Business Segment, the Order-focused food delivery services segment is projected to dominate the market size in 2024

The Online On-Demand Food Delivery Services Market represents a significant business opportunity, with increasing consumer preference for convenience and contactless dining. This sector's growth is driven by advanced technology, such as mobile apps and geolocation services, enabling seamless ordering and delivery processes. Key players are investing in strategic partnerships, expanding their menus, and enhancing customer experience to capture market share. The market's future looks promising, with continued innovation and the potential for further expansion into new regions.

By Type, Restaurant-to-consumer  segment is expected to hold the largest market size for the year 2024

The Online On-Demand Food Delivery Services Market represents a significant business opportunity, with consumers increasingly relying on convenient and quick meal solutions. This sector's growth is driven by technological advancements, changing consumer preferences, and the increasing popularity of food delivery apps. Market players must focus on enhancing customer experience, ensuring efficient logistics, and maintaining food quality to stay competitive. The market's future looks promising, with continued investment in technology and expanding consumer base.

APAC is forecasted to hold the largest market size by region in 2024

The Online On-Demand Food Delivery Services Market represents a significant business opportunity, with consumers increasingly relying on convenient, digital platforms to satisfy their culinary cravings. This sector's growth is driven by key trends, including the proliferation of smartphones, the rise of food tech startups, and the increasing popularity of contactless delivery options. Market players must stay abreast of these developments to remain competitive and capture a larger market share.

The Online On-Demand Food Delivery Services Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alibaba Group Holding Ltd.
  • Bundl Technologies Pvt. Ltd.
  • Curefoods India Pvt. Ltd.
  • Delivery Hero SE
  • Dominos Pizza Inc.
  • DoorDash Inc.
  • Dunzo Digital Pvt. Ltd.
  • EatSure
  • Glovoapp23 SL
  • Grab Holdings Ltd.
  • Grubhub Inc.
  • HelloFood
  • HungryPanda Ltd.
  • Just Eat Takeaway.com
  • Meituan Dianping
  • Movile
  • Rappi Inc.
  • Talabat
  • Uber Technologies Inc.
  • Zomato Media Pvt. Ltd.
.

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Research Analysis Overview

The online on-demand food delivery services market is experiencing exponential growth, with consumers increasingly relying on smartphones and mobile devices to order meals from their favorite restaurants or discover new food preferences. Delivery volumes have surged, leading to the rise of ghost kitchens and virtual restaurants, which focus solely on delivery and takeout orders. Food innovation is at the forefront of this industry, with digital menu boards and order processing systems streamlining the customer experience. Sales trends indicate a strong preference for meal delivery times that fit busy lifestyles, and customer preferences are driving the adoption of POS systems and insurance for delivery personnel. Last-mile connectivity and ecommerce delivery are also crucial factors, with aggregators like Uber Eats and Grubhub facilitating the process. The urban markets are seeing a surge in demand for meal delivery, with millennials leading the charge. The future of online food delivery is likely to include robot food delivery and the integration of cardboard boxes and sustainable packaging. Overall, the online food delivery market is a dynamic and innovative space, continually adapting to changing consumer needs and preferences.

Market Research Overview

In the current historic period, the online on-demand food delivery market is witnessing significant growth with players like DoorDash, Uber Eats Japan, and Cartken leading the charge. Mitsubishi Electric and other tech giants are also entering the fray with strategic maneuvers, consolidating the market through venture capital investments. The market's growth is driven by disposable incomes, customer loyalty programs, discounts, and competitive prices. The market offers a vast array of options, from meal aggregators like Uber Eats and DoorDash to dark and virtual kitchens, providing personalized orders and restaurant options. The volume of orders for meal delivery, including alcohol, grocery, pet food, and sustainable meal options like organic and plant-based foods, is on the rise. Order tracking, AI-driven recommendations, and internet connectivity are essential for the seamless delivery experience. Smartphones and mobile devices have become the primary means of online food ordering, with smartphone penetration and internet connectivity driving demand. Food innovation, restaurant review, meal delivery times, and digital menu boards are key sales trends, with customer preferences shifting towards healthier meal options and faster delivery times. Order processing, POS systems, and online sales are also crucial for restaurants looking to thrive in the market. Last-mile connectivity, ecommerce delivery, and aggregators are transforming the food industry, with ghost and cloud kitchens, insured delivery services, and instore merchandising becoming the norm in urban markets. The future of food delivery is here, with robot food delivery and online portals offering a convenient and efficient solution for consumers. Payment methods and shipping services are also evolving to meet the demands of the market.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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