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Global Online Food Delivery Market to Reach USD 465 Billion by 2026, Aided by the Rising Smartphone and Internet Penetration

According to a new report by EMR titled, 'Global Online Food Delivery Market Report and Forecast 2021-2026', the online food delivery industry reached a value of around USD 213 billion in 2020. The market is further expected to grow at a CAGR of 14.5% in the forecast period of 2021-2026 to attain USD 465 billion by 2026.

The global online food delivery industry is strengthened by the development of user-friendly applications across the world. Online food delivery has become an emerging trend that is further expected to flourish in the future. The market is further aided by the increasing smartphone penetration and internet connections globally, which has led to a significant rise in the opportunities for quick and convenient food delivery. The increasing proliferation of the industry beyond tier I cities is expected to propel the market further in the coming years. The market is also expected to be supported by the rising investments in the industry.

The players in the market have seen a rapid increase in demand in 2020 amidst the COVID-19 pandemic due to the restrictions imposed on in-house restaurant dining.  GrubHub (NYSE: GRUB), an American online food ordering company, announced in March 2020 that it would forgo a sum of USD 100 million for the time being on commissions for the meals it delivers from individual restaurants to help those businesses cope with the coronavirus epidemic.

Market Analysis by Platform Type, Business Model, Payment Method, and Region:

  • The online food delivery industry, on the basis of platform type, is bifurcated into mobile applications and websites.
  • On the basis of business model, the market is divided into order focused food delivery system, logistics based food delivery system, and full-service food delivery system, among others.
  • By payment method, the market is categorised into online and cash on delivery.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global online food delivery industry is being driven by the ordering made easy through these applications, which offer menus of several restaurants to the users to compare and choose. 
  • The market is further aided by the delivery of the food at the desired location through these food delivery companies. 
  • These platforms offer ease of payment and the option to go cashless as the consumers are increasingly seeking virtual payment options, which also offer them several discounts occasionally. Thereby, accelerating the market growth.
  • The market growth of online food delivery has strengthened in the recent years owing to a rise in the sales of smartphones, rocketing internet penetration, and the flourishing food industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for online food delivery for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the platform types, business models, payment methods, and regional markets of online food delivery.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Just Eat N.V., Grubhub Holdings Inc., Doordash, Inc., Delivery Hero SE, Deliveroo Plc, and Zomato Limited, among others, are the key players in the global online food delivery market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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