In 2018, Frost & Sullivan estimated the industry at $82 billion in terms of gross revenue bookings and is set to more than double by 2025, backed by a cumulative growth rate of 14%. Contact Us:Web :https://360researchreports.com/Email: sales@360researchreports.comOrganization: 360 Research ReportsPhone: +44 20 3239 8187/ +14242530807, Press Release Distributed by The Express Wire, To view the original version on The Express Wire visit Food Delivery Market : Research Report Analysis by Competitors, Sales, Revenue and Industry Size 2023 To 2029, COMTEX_421076285/2598/2022-12-19T14:22:06. Major retailers do give a good, broad view of the interest in food delivery. Delivery slots ran out quickly during the start of the pandemic and this continued for much of 2020 and into 2021. December 2020 saw an interest level of 25 (at most) and by mid-January 2021 had reached 100. Then Uber Eats came in with a platform for grocery and restaurant delivery. The introduction of dozens of rapid delivery services, which use dark stores based . Food delivery is a fast-growing industry. Interest in food delivery for at least some people continued, perhaps due to inability to get to grocery stores or, for those more financially well off, for simplicity so they didnt have to cook and could have a variety of foods delivered straight to their door. Yes. Aided by the ongoing innovations, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 10.5%. Roughly speaking, people born between the early 1980s and mid-2000s are the largest age demographic in the U.S. and are driving massive changes in the food delivery industry. Is there a problem with this press release? China's duopoly food delivery market. We are working on understanding the impact of Covid19 on the online food delivery services market and the strategies adopted by companies to keep up with the surging demand while keeping their workers safe. In terms of business model, the largest segment is Platform-to-Consumer, with a market share of 53.03% in 2020. 6. Their organizational structure not only brought them into the. The global online food delivery services market is expected to grow at a compound annual growth rate of 18.7% from 2022 to 2030 to reach USD 253.95 billion by 2030. b. Asia Pacific dominated the online food delivery services market with a share of 40.38% in 2020. The online food delivery market is projected to register a CAGR of 16.24% during the forecast period (2022 - 2027). Delivery Hero SE, Grab Holdings Inc, Just Eat Holding Limited, Grubhub Holding Inc., Uber Eats are the major companies operating in Online Food Delivery Market. The Online Food Delivery research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. The growth of the desktop segment can be attributed to the increasing number of restaurants that are endeavoring to increase foot traffic by expanding their online presence through websites. Market revenue for the food delivery industry has increased by 204% in the past five years. From October 2021, there was a significant growth in interest in Just Eat. Google Trends data indicates that while restaurants are open and people are able to dine out again, not everyone is returning to their previous eating habits and that some pandemic-borne innovations are here to stay. With grocers increasingly aware of the risks of single-provider deliveries, expect to see more grocers move to using multiple DaaS fleets, and managing their delivery operations in-house with the use of food delivery management software. Based on the market landscapes, the order-focused segment is expected to witness lucrative growth during the forecast period. The trend of delivery subscriptions has found a perfect match in both specialized online food delivery and the millennial generation. For many customers, home delivery has provided a solution to some of COVID-19's challenges. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. In this report, Analysis of the Food Delivery Industry has been performed through Porters Five Forces. Click here. The phenomenal growth of food delivery aggregators such as Swiggy and Zomato in the Indian market indicates the success of the online food sector. If you're living in the UK, chances are that you have tried out or at least heard of Deliveroo. Restaurant chains are increasingly partnering with multiple third party fleets in order to expand their delivery footprint across all their stores and at all times of day. Credit card or contactless payment are their ideal methods of payment, while payment by biometric control could be an evolution for 2030 (14% of respondents consider this option, according to the survey). The Google Trends data also shows that interest started peaking much earlier in 2021, in October, whereas the peaks were only reached in November in 2020. policy. Similar products have gained extreme popularity in developed countries, and this tendency was further supported by the COVID-19 restrictions. Avail customized purchase options to meet your exact research needs. COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Your payment is successful. Furthermore, IoT integration enables users to opt for online food delivery services through voice commands, further easing the delivery process. This website is secure and your personal details are safe. The net worth of the hyperlocal food delivery market share is expected to reach US$ 493.9 Billion by the year 2032 while increasing from US$ 222.5 Billion in the year 2021. 60% of restaurant owners & operators said that offering delivery generated incremental sales. WhileGoogle recognises Food Panda as a significant competitor, its clear from Food Pandas flat green line in 2021 that the other three are the main competitors in this space. UC3M MADI Talks | Entrepreneurship Series: a tech startup Financing a tech startup is one of the main challenges that entrepreneurs face when deciding to kick their own business. China is the key market for food delivery services market in APAC. For HelloFresh in particular, this spike was actually a sign of a greater interest in the product that was then sustained throughout the year with additional peaks in September, October and at the end of December. Got a story to share? 7. In our 2020 food delivery review, we discussed the huge spike in interest in food boxes during the first UK lockdown in March 2020. For instance, the Indian food delivery platform, Zomato, has 80 million monthly active users and has set targets of reaching 20 million over the next few years. Key points for mobile food businesses: focus on smartphone applications to enable food ordering, ensure that the restaurants website is mobile-friendly and give the option to order food online. This shift in consumer shopping habits has been fueled by a variety of causes, some of which are industry or country-specific, while others are the product of global shifts. We have selected the most representative 20 countries from ;197 countries in the world and conducted a detailed analysis and overview of the market development of these countries. In 2017, Grubhub had nearly $4 billion in gross sales. Although there is something of a downtrend among the types of food boxes, there is still a consistent market for them. The Online Food Delivery Market is growing at a CAGR of 16.24% over the next 5 years. Customers are rapidly heading online, which has fueled rapid growth in the e-commerce industry over the last decade. The growth of the e-commerce sector further fuels the adoption of website/desktop channels for ordering food online. In the context of the past five years, it might appear that food boxes dropped back to pre-pandemic levels following the spikes around lockdowns, but actually they are maintaining an elevated level. It is worth noting that interest in Just Eat was 70% higher than both Deliveroo and Uber Eats to begin with. You could probably guess that food delivery spiked in the UK when the first lockdown began on the 16th March 2020. The food delivery services market is expected to grow by $ 215.56 bn, progressing at a CAGR of over 12% during the forecast period. Get detailed COVID-19 impact analysis on the Online Food Delivery Market. Eating delivered or takeaway food is expected to be mostly a solitary occupation for consumers in 2030. Looking at 2021 as a whole for both terms, we can see that meal kits (red) started off more popular but soon dropped to the steady interest levels of recipe boxes (blue). The challenge will be to balance the customer demand for fast, convenient and transparent delivery with the logistical complexity and expenses required to meet these demands. Online meal ordering has been getting increasingly popular in recent [] Restaurant delivery has grown 20% in the last five years; while estimates differ, online food delivery sales are estimated to grow as high as $220 billion by 2023 40% of total restaurant sales. The platform-to-consumer model deals with food deliverys logistics and resource aspects while simultaneously offering shipment services to restaurants that do not have in-house delivery resources. The food delivery market analysis shows us that it was valued at about $3.7B in 2017. UK Food Box Delivery Industry Overview. Significant urban population, their busy lifestyles, and increasing penetration of the internet and smartphones are some of the key drivers that have driven the online food delivery market growth in the region. Local area specific searches saw increases too. Malaysia Online Food Delivery Market achieved a value of USD 661.7 Million by 2030 with a more than 19.3% CAGR. Food delivery had been on the rise. Ambient and chilled food delivery this includes anything unheated, from tinned food and cornershop snacks to chilled and frozen items from a supermarket. However, players may have to overcome logistical challenges. In 2021, Delivery Hero acquired Hugo's food and grocery delivery verticals and expanded its footprint in Central America and the Caribbean. To formulate this report, detailed analysis has been performed with inputs from industry experts. Those who did go to the supermarket, particularly at the start of the first lockdown, found that some people had taken to stockpiling certain items, like toilet roll and tinned foods, making them hard to get hold of. ; The market's most significant segment is Restaurant-to-Consumer Delivery with a market volume of $4,934 million in 2020 (Restro App). The online food delivery market size was valued at US$437.8 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% during 2021-2026. Top food delivery trends to expect in 2022: Trend: Tech Giants Moving in on Food Delivery, Online Grocery Delivery is Growing Rapidly, Food Delivery: Industry Trends for 2022 and beyond, Google began to enable food ordering and delivery. Different application fields have different usage and development prospects of products. In the United States, the food delivery industry is driven by high-income earners who dont get time to cook meals at home and hectic work schedules. But what of 2021? Oct 31, 2022 | Published by: DataM Intelligence 4Market Research LLP | USD 4,350. food delivery websites and applications by using their computers or smart phones. Thus, the increasing number of food orders through cloud kitchens, due to the convenience factor, hectic lifestyles of consumers, and strong internet penetration. Deliveroo SWOT Analysis 2022. By the year 2026, this figure is expected to hit 33.7 billion USD, at a continued annual growth rate (CAGR) of 10.5%. The factors such as improved logistics, increasing penetration of internet and smartphones and development of user-friendly food apps . Visit a quote page and your recently viewed tickers will be displayed here. Copyright 2023 MarketWatch, Inc. All rights reserved. Cocktail delivery to certain areas peaked at times throughout the year, though mostly between April and June of 2020. This industry report has been produced by MADI students from the 2020/2021 academic year for the subject of International Business Management. More details:Download Free Sample Report, Food Delivery Services Market: Market Landscape Landscape. The mobile application segment dominated the industry in 2021 and accounted for the maximum share of more than 75.25% of the overall revenue. Lower levels of interest were found during August and September, but interest in supermarket delivery slots spiked again in November in the run up to Christmas as customers sought desirable Christmas delivery slots. Today many busy professionals rely on food delivery services to save time and money, with the average Malaysian spending $151 per month on them. You can also contact MarketWatch Customer Service via our Customer Center. This rapid growth can be attributed to the growing smartphone penetration, coupled with technological advancements, such as 3G and 4G networks. Food Delivery Market Size is projected to Reach Multimillion USD by 2029, In comparison to 2022, at unexpected CAGR during the forecast Period 2023-2029. Which segment accounted for the largest online food delivery services market share? From 2019-2020, U.S. food delivery revenue increased by 17%, from $22 . Online Food Delivery Market Overview: The online food delivery is a service that allows the user to order food from a desired food outlet via the internet. Online Food and Grocery Delivery Market Size, Share & COVID-19 Impact Analysis, By Top Manufacturers - Peapod, Amazon Fresh, Boxed, Shipt, Safeway, Instacart, FreshDirect, Thrive Market, Walmart . This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. By geography, APAC is going to have a lucrative growth during the forecast period. Interest in Jiffy looks to be heading back up in 2022, though who knows for how long. Here are some recommendations based on the expectations of customers concerning food delivery services in 2030. One of these is the term "social entrepreneur," which refers to someone who not only pursues personal benefit but also seeks to make positive changes in their surroundings through we have determined whether this industry is attractive based on the following forces: Related publications that may interest you and reports by industry: The olive oil industry: industry analysis, Selling pastry in Morocco: industry analysis, Internationalization process of Mojos Canarios Guachinerfe, Mckinsey Report Industries Retail Restaurants European, 5 Key Takeaways from financing of tech startup in Spain. 81 Important Food Industry Statistics: 2023 Data Analysis and Market Share The food industry is continuously growing. Hot food delivery, the only real at-home treat unless you were willing to put on shoes to go outside was likely to have been most impacted by restrictions ending. For grocers looking to scale up their delivery operations and maintain customer loyalty with new fulfillment experiences, the biggest challenge will be overcoming the strongest players in online grocery. Some companies are taking a completely different approach to the one described above by doing something fairly radical: building in-house delivery fleets. Food box delivery existed before the pandemic but online interest in food boxes had been consistently quite low for five years prior to the first lockdown, as this graph indicates. It is one of the largest markets for global online food delivery. The industry players operating in the region are offering live customer service, delivery execution, and other related services, which, in turn, will fuel regional growth. It will be interesting to see which grocers emerge as strong players in the delivery market this year. 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