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 the market growth over the forecast period.
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Moreover, smartphones enable customers to order food quickly & conveniently and using multiple payment options. Most consumers ordering food prefer their orders to be delivered at their doorstep. Thus, the increasing penetration of smartphones and internet is encouraging users in developing countries to install food delivery apps.
Companies are emphasizing on enhancing logistics capabilities and consumer experiences. Additionally, adequate funding and investments in the market is one of the factors expected to drive the market growth. For instance, in February 2019, Zomato raised approximately USD 62.2 million in a funding round from multiple investors that included Delivery Hero, Naspers Limited, Chunwei Capital, and others.
Numerous companies are adopting optimized delivery modes, which can considerably speed up delivery and reduce operational costs. Food delivery using robots, drones, and parachutes are gaining traction in the market. Such technological advancements in the online food delivery industry are anticipated to provide opportunities for market growth.
Further key findings from the study suggest:
• The platform-to-consumer segment is expected to register a CAGR of more than 12.0% owing to the growing adoption of new app models that offset logistics costs
• The restaurant-to-consumer segment accounted for more than 40% of market share in 2018 owing to the focus of aggregators on maintaining their market presence through implementation of cloud kitchens
• The growth of the mobile applications segment can be attributed to the availability of several food delivering platforms for customers and growing use of mobile applications to place orders
• The online payment method is expected to register a noteworthy CAGR of over 15% owing to growing digitalization and adoption of cashless transactions in developing economies
• Asia Pacific is expected to witness substantial growth owing to the rising disposable income, upgradation of retail formats, and increase in number of internet users & adoption of smartphones
• The online food delivery services market is highly fragmented with the presence of established, local players. The key players operating in the market include GrubHub and Postmate Inc., among others
• The major players are focusing on introducing attractive plans to increase their customer base.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/online-food-delivery-services-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. List of Data Sources
1.4. List of Abbreviations
Chapter 2. Executive Summary
2.1. Online Food Delivery Services Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025
2.2. Market Summary
2.3. Online Food Delivery Services Market, 2014 - 2025
Chapter 3. Online Food Delivery Services Market Variables, Trends, and Scope
3.1. Market Segmentation
3.2. Online Food Delivery Services Market-Value Chain Analysis
3.3. Online Food Delivery Services Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Key Company Ranking - Online Food Delivery Services Market
3.5. Online Food Delivery Services Penetration and Growth Prospects Mapping
3.6. Online Food Delivery Services Market - Porter's Five Forces Analysis
3.7. Online Food Delivery Services Market - PEST Analysis
3.8. Regulatory Framework
3.9. Technology Framework
3.10. Financial Clearing Agents
Continued ………
Browse More Related Reports of ICT Industry: https://www.radiantinsights.com/catalog/ict
About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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 the market growth over the forecast period.
Request a Sample Copy of This Report: https://www.radiantinsights.com/research/online-food-delivery-services-market/request-sample
Moreover, smartphones enable customers to order food quickly & conveniently and using multiple payment options. Most consumers ordering food prefer their orders to be delivered at their doorstep. Thus, the increasing penetration of smartphones and internet is encouraging users in developing countries to install food delivery apps.
Companies are emphasizing on enhancing logistics capabilities and consumer experiences. Additionally, adequate funding and investments in the market is one of the factors expected to drive the market growth. For instance, in February 2019, Zomato raised approximately USD 62.2 million in a funding round from multiple investors that included Delivery Hero, Naspers Limited, Chunwei Capital, and others.
Numerous companies are adopting optimized delivery modes, which can considerably speed up delivery and reduce operational costs. Food delivery using robots, drones, and parachutes are gaining traction in the market. Such technological advancements in the online food delivery industry are anticipated to provide opportunities for market growth.
Further key findings from the study suggest:
• The platform-to-consumer segment is expected to register a CAGR of more than 12.0% owing to the growing adoption of new app models that offset logistics costs
• The restaurant-to-consumer segment accounted for more than 40% of market share in 2018 owing to the focus of aggregators on maintaining their market presence through implementation of cloud kitchens
• The growth of the mobile applications segment can be attributed to the availability of several food delivering platforms for customers and growing use of mobile applications to place orders
• The online payment method is expected to register a noteworthy CAGR of over 15% owing to growing digitalization and adoption of cashless transactions in developing economies
• Asia Pacific is expected to witness substantial growth owing to the rising disposable income, upgradation of retail formats, and increase in number of internet users & adoption of smartphones
• The online food delivery services market is highly fragmented with the presence of established, local players. The key players operating in the market include GrubHub and Postmate Inc., among others
• The major players are focusing on introducing attractive plans to increase their customer base.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/online-food-delivery-services-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. List of Data Sources
1.4. List of Abbreviations
Chapter 2. Executive Summary
2.1. Online Food Delivery Services Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025
2.2. Market Summary
2.3. Online Food Delivery Services Market, 2014 - 2025
Chapter 3. Online Food Delivery Services Market Variables, Trends, and Scope
3.1. Market Segmentation
3.2. Online Food Delivery Services Market-Value Chain Analysis
3.3. Online Food Delivery Services Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Key Company Ranking - Online Food Delivery Services Market
3.5. Online Food Delivery Services Penetration and Growth Prospects Mapping
3.6. Online Food Delivery Services Market - Porter's Five Forces Analysis
3.7. Online Food Delivery Services Market - PEST Analysis
3.8. Regulatory Framework
3.9. Technology Framework
3.10. Financial Clearing Agents
Continued ………
Browse More Related Reports of ICT Industry: https://www.radiantinsights.com/catalog/ict
About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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