Global Online Food Delivery Services Market Forecast, Trend Analysis And Competition Tracking - Global Market insights 2015 to 2031

Online Food Delivery Services Market Introduction:

Increasing number of smartphone users and internet access, there is an increase in online food ordering day by day. Online food delivery service is ordering food as per demand right at your doorstep anywhere and anytime. The presence of online services in every sector is supporting business at a higher level and proves to be the best source to earn money. The food industry sector is growing due to the increasing use of online food delivery apps. It saves time and energy just users need to install on-demand delivery apps and place proper orders from the list of favourite restaurants and dishes. Users can make payments online or pay on delivery. Online Food Delivery Services benefits both the industry and end-users. These services make tasks easy to end-users and handy, like getting anything on a few taps on smartphones. Today, online food delivery goes beyond delivering restaurant food to cloud kitchens and homemade tiffin delivery apps.

Three basic models are operating in the online food delivery industry include Delivery Only, Aggregation Model, End-To-End Management, and Cloud Kitchen Model. There are many food delivery apps currently in use. Some of the apps most commonly used are Zomato, Grubhub, Deliveroo, Swiggy, UberEats,  Domino’s Pizza, FoodPanda,  Just Eat, DoorDash, and Postmates. All these apps are available on Android and iOS devices. Zomato food delivery app is now available in nearly 25 countries all over the world including India, Australia, and the United States. Besides offering a list of best restaurant choices, it also works for foodies on Twitter and Facebook. FoodPanda is quite a famous online food ordering app available in 41 countries, and it has gained popularity due to access to large restaurant databases and all payment methods. Swiggy is the top-rated mobile app, specifically in India. Recently it is upgraded with new Wallet function for transactions. Domino’s and McDonald’s follow the End-To-End Management model. Swiggy and Zomato follow the Aggregation Model.

Factors that have positive impact on the online food delivery market revenue growth

Some of the benefits offered through online food delivery services are customer’s satisfaction, easy trade for restaurants, 24/7 services, and effortless maintenance. Customers are satisfied with 24/7 services with delivery on time.

Increasing demand for fast foods from the age group 18-25 years is one of the key drivers for the growth of the food and beverage industry worldwide. Hectic lifestyles and working hours, coupled with increasing demand for ready-to-eat food items, and healthy snack options are rapidly gaining traction across world. These are vital factors augmenting the growth of the global online food delivery market. Benefits offered by online delivery services like rewards & cashback offers and attractive discounts are also contributing to the growth of the target market. Additionally, advancement in infrastructure and emerging technology offers growth opportunities to vendors and service providers operating in this target market. Furthermore, integration of IoT in the food industry with IT software services is likely to drive the market growth. Innovations and launching of new products and services in online delivery are favouring the growth of the industry. With the increase in the number of food orders, the quality of food delivered is lowered. Thus, multiple deliveries can cause the failure of restaurants and can limit market growth. Increasing urbanization and changing eating habits lead to a high demand for packaged and ready-to-eat food in developing countries, which can create revenue opportunities for existing as well as new entrants in the global market.

Recent Trends In Online Food Delivery

Online food delivery is a new trend, with many companies now offering the service, which has become popular as a result of society's desire to make life as easy as possible. For those who don't have time to shop for groceries, food delivery is a wonderful option. Several benefits of online food delivery, includes the ability to purchase ingredients that would otherwise be hard to find in one's hometown.

One of the robust and growing trends observed in the worldwide market is the increase in web-based systems for food services. Domino’s Pizza claims to deliver over 50,000 pizzas in a day and 15,000 of those orders are made online. Fassos is another famous food chain role out over 60,000 orders in a day and all from their mobile app too.

COVID-19 Impact on Online Food Delivery Services Market

The restaurant industry is rapidly changing. With more consumers switching to delivery, there are new opportunities for restaurants. Online food delivery services are the fastest-growing segment in the restaurant industry and have increased by 169% from February to April. This increase is due to the decrease in brick-and-mortar restaurants that are struggling to compete against their digital competitors. In an increasingly fast-paced world, guests are looking for comforting, simple, and cost-effective options when ordering food online. The top companies in this industry include Grubhub, UberEATS, and Amazon Local Services. These services allow customers to order from a variety of restaurants in their area with a few taps of their smartphone. These apps offer a wide range of menu items at very competitive prices. Compared with 2019, the top three sales soaring in 2020 are sandwiches and wraps (+21%), burgers (+10%) and pizza (+9%).

The Global Online Food Delivery Services Market can be segmented based on the channel type, payment method and region:

Based on Channel Type:

• Websites/Desktop
• Mobile Applications

Based on Payment Method

• Cash on Delivery
• Online

 Based on Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Peru
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape

• UberEats
• Zomato
• Just Eat
• Swiggy
• Food Panda
• DoorDash
• Pastmates
• GrubHub
• ELEME Inc.
• Other Key Industry Players