Online Food Delivery Services Market Become Dominant At CAGR of 15.4% by 2025
The global online food delivery services market size is expected to reach USD 6.4 billion by 2025, registering a CAGR of 15.4% over the forecast period, according to a study conducted by Radiant Insights, Inc. The market growth can be attributed to the availability of several delivering platforms and significant shift from using websites to using mobile application services for ordering food. The increasing internet & smartphone penetration among millennials and growth of the food & beverage industry are some factors anticipated to drive the market growth. Food delivery services offer various benefits such as doorstep delivery, significant discounts, cashback offers, and multiple payment options for attracting users. Furthermore, with the rising per capita income, middle-class and high-income populace in developing economies are witnessing significant changes in their living standards and eating preferences. Such favorable changes in lifestyle are expected to contribute to t...