Online food delivery services market trens, statistics, size, growth, share 2019 – By Credence Research
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 online food delivery services market was valued at US$ 81.56 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 9.8% during the forecast period from 2018 to 2026. In recent years, online food delivery has witnessed a rapid growth. These platforms allows customers to order food from an array of restaurants with a single tap on their mobile phone. The rise of the digital technology has reshaped the food delivery services market and consumers expect the same convenience and transparency which they are accustomed 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 lies intense competition amongst the players operating in the online food delivery services market. Often the players in order to thrive in the competitive market are indulged in a discount-driven battle. For instance, it costs Zomato, an Indian restaurant search, discovery and deliver company approximately US$ 20 million as a result of the various discount it offers its customers. However, the same deep discounting approach of the company also helps it to add new members on the platform. The market is also witnessing trends such as robot delivery being trialled by some retailers.
Asia Pacific expected to register the fastest growth during the forecast period cfrom 2018 to 2026. Higher disposable income, a greater number of people with access to internet, increased smartphone proliferation and families with Double-Income-No-Kids (DINKS), are some of the most prominent factors aiding the food delivery services market growth 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.
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
Browse the full report at https://www.credenceresearch.com/report/online-food-delivery-services-market
The first online food order was a pizza from Pizza Hut in 1994.
The first online food ordering service, World Wide Waiter (now known as Waiter.com), was founded in 1995. The site originally serviced only northern California, later expanding to several additional cities in the United States.
During the dotcom boom, startups like Webvan, HomeGrocer, and Kozmo started online grocery delivery but ended up closing in 2001 after the dotcom crash. Seamless was also founded during this time.
GrubHub was founded in 2004. By the late 2000s, major pizza chains had created their own mobile applications and started doing 20-30% of their business online.
With increased smartphone penetration, and the growth of both Uber and the sharing economy, food delivery startups started to receive more attention. Instacart was founded in 2012. In 2013, Seamless and GrubHub merged. By 2015, online ordering began overtaking phone ordering.
As of September 2016, online delivery accounted for about 3 percent of the 61 billion U.S. restaurant transactions.
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
Geography Segment (2016–2026; US$ Bn)
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Rest of the World (RoW)
- Middle East & Africa (MEA)
- Latin America
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l am Rananjay Parmar and l work with Credence Research Limited is a marketing consulting and research Agency that is focused on the United States market and the United Kingdom. We are specialized in primary data collection and offer our clients relevant information and advice through the help of adequate research analysis and conclusions.