Online Food Delivery Services Market Overview & Size, Share, Growth, Industry Trend 2024

Overview and Scope
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.

Sizing and Forecast
The online food delivery services market size has grown rapidly in recent years. It will grow from $143.05 billion in 2023 to $159.46 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increase in strong economic growth in emerging markets, increased internet penetration and increased availability of mobile devices.

The online food delivery services market size is expected to see steady growth in the next few years. It will grow to $178.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to the internet of things (iot), artificial intelligence, increasing smartphone users, covid-19, growing workforce and government initiatives. Major trends in the forecast period include collaborating with tech giants, invest in expanding, investing in robot and drone technologies, investing in launching contactless delivery features, investing in virtual kitchens, adopting self-driven cars for fast and low-cost delivery and adopting green transport solution.

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Segmentation & Regional Insights
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

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

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the online food delivery services market report are 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

The online food delivery services market report table of contents includes:
1. Executive Summary
2. Online Food Delivery Services Market Characteristics
3. Online Food Delivery Services Market Trends And Strategies
4. Online Food Delivery Services Market – Macro Economic Scenario
5. Global Online Food Delivery Services Market Size and Growth
…..
32. Global Online Food Delivery Services Market Competitive Benchmarking
33. Global Online Food Delivery Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Online Food Delivery Services Market
35. Online Food Delivery Services Market Future Outlook and Potential Analysis
36. Appendix