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Market Research Report
Product code
1091452
Online Food Delivery Services Global Market Opportunities And Strategies To 2030: COVID-19 Growth And Change |
Online Food Delivery Services Global Market Opportunities And Strategies To 2030: COVID-19 Growth And Change |
Published: June 17, 2022
The Business Research Company
Content info: 206 Pages
Delivery time: 2-3 business days
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“Online Food Delivery Services Global Market Opportunities And Strategies To 2030: COVID-19 Growth And Change” from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global online food delivery services market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for online food delivery services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? “The online food delivery services market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider online food delivery services market; and compares it with other markets.
This report describes and explains the online food delivery services market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
The online food delivery services market reached a value of nearly $182.5 billion in 2020, having increased at a compound annual growth rate (CAGR) of 19.0% since 2015. The market is expected to grow from $182.5 billion in 2020 to $332.8 billion in 2025 at a rate of 12.8%. The market is then expected to grow at a CAGR of 10.4% from 2025 and reach $545.2 billion in 2030.
Growth in the historic period resulted from increase in strong economic growth in emerging markets, increased internet penetration and increased availability of mobile devices.
Going forward, the internet of things (IOT), artificial intelligence, increasing smartphone users, COVID-19, growing workforce and government initiatives will drive the growth. Factors that could hinder the growth of the online food delivery services market in the future include fluctuations in market prices and intense competition.
The online food delivery services market is segmented by type into platform-to-consumer and restaurant-to-consumer. The platform-to-customer market was the largest segment of the online food delivery services market segmented by type, accounting for 54.6% of the total in 2020. Going forward, the restaurant-to-customer market is expected to be the fastest growing segment in the online food delivery services market segmented by type, at a CAGR of 13.3% during 2020-2025.
The online food delivery services market is by channel type into websites and mobile applications. The mobile applications market was the largest segment of the online food delivery services market segmented by channel type, accounting for 63.3% of the total in 2020. Going forward, the other mobile applications segment is expected to be the fastest growing segment in the online food delivery services market segmented by channel type, at a CAGR of 15.7% during 2020-2025.
The online food delivery services market is segmented by payment method into cash-on-delivery and online payment. The online payment market was the largest segment of the online food delivery services market segmented by payment method, accounting for 76.1% of the total in 2020. Going forward, the online payment segment is expected to be the fastest growing segment in the online food delivery services market segmented by end-user, at a CAGR of 15.4% during 2020-2025.
Asia-Pacific was the largest region in the online food delivery services market, accounting for 68.6% of the total in 2020. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the online food delivery services market will be Africa and South America where growth will be at CAGRs of 26.9% and 16.5% respectively. These will be followed by Western Europe and Eastern Europe, where the markets are expected to grow at CAGRs of 14.2% and 13.6% respectively.
The coronavirus pandemic has spread worldwide and is causing disruptions in global economies. Several industries are experiencing different challenges due to the effect of the pandemic, including the information technology industry. The impact of the pandemic on the online food delivery services market was comparatively low versus much of the economy. The overall online food delivery services market experienced a surge in demand during COVID-19. The market for online food delivery services in USA increased from $18.8 billion in 2019 to $23 billion in 2020 during COVID-19. Likewise, the report by Towards Data Science stated that the food delivery services progressed more during 2020 than it did in previous years due to increase in the demand for ordering meals online. The increase in demand for online food delivery made large players to enter into partnerships and acquisition to handle increasing online orders for meals. For instance, Just Eat Takeaway.com acquired Grubhub and Uber Acquired Postmates to manage increased demand. DoorDash was able to raise $2.5 billion from investors to manage the boom in demand for their meal deliveries.
The online food delivery services market is highly concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 65.94% of the total market in 2020. Uber Technologies, Inc. (Uber Eats) was the largest competitor with 16.55% of the market, followed by Meituan Dianping with 12.96%, Just Eat Takeaway.com N.V. with 8.35%, Delivery Hero SE with 8.00%, Domino's Pizza, Inc. with 6.62%, Grubhub Inc. with 4.71%, DoorDash Inc. with 4.11%, Deliveroo with 3.00%, Swiggy with 0.82% and Zomato with 0.82%.
The top opportunities in the online food delivery services market segmented by type will arise in the platform-to-consumer segment, which will gain $78.8 billion of global annual sales by 2025. The top opportunities in segment by channel type will arise in the mobile applications segment, which will gain $123.9 billion of global annual sales by 2025. The top opportunities in segment by payment method will arise in the online payment segment, which will gain $145.4 billion of global annual sales by 2025. The online food delivery services market size will gain the most in the China at $87.6 billion.
Market-trend-based strategies for the online food delivery services market 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.
Player-adopted strategies in the online food delivery services market include expanding its business presence in online food delivery services in urban centers through new technological developments, expanding its geographical presence and delivery arm in online food delivery sector through strategic acquisition and expanding its business presence in online food delivery services sector through strategic partnership.
To take advantage of these opportunities, The Business Research Company recommends the online food delivery services companies should consider use of drone and robots for delivery, focus on delivering food to customers using contactless means, offer food delivery services through cloud kitchens, leverage sustainable and alternate delivery channels, expand in emerging markets, offer subscription model based and dynamic pricing, focus on developing apps and use them to mine customer data, leverage social media to maximize reach, focus on loyalty programs such as membership cards, cash points, offers, early bird access, cashback offers, and coupons, focus on customer reviews, optimise mobile user experience, focus on millennials and aging population.