Global Online Food Delivery Market to be Driven by Increase in Smartphone Penetration and Usage in the Forecast Period 2021-2026
30 NORTH GOULD STREET, WYOMING, USA, August 22, 2022 /EINPresswire.com/ — Expert Market Research’s new report titled “Global Online food delivery market sizeReport and Forecast 2021-2026′, gives an in-depth analysis of the global online food delivery market, assessing the market based on its segments such as platform type, business model, payment method, and main regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
Historical market size (2020): USD 85.8 billion
Forecast CAGR (2021-2026): 12%
Forecast market size (2026): 169.4 billion USD
The ease and convenience of ordering food through apps and easy comparisons between multiple restaurants and menus are driving the global online food delivery market. In addition to this, these service providers make deliveries at desired locations and times, even at late hours, which further increases the demand for their service.
The industry is witnessing an upsurge owing to the convenient payment options and the possibility of going cashless as customers seek virtual payment options due to various discount offers offered by service providers as part of of their promotional strategies. Moreover, with just a few scrolls and clicks, one can choose from a variety of cuisines in numerous outlets, which earns the sympathy of these online food delivery service providers.
Industry definition and major segments
Online food delivery is a service that provides a digital platform for consumers to purchase food through a website or app. First, the customer searches for the desired restaurant or food outlet, then selects the food of his preference from his menu. Finally, either she opts for collection or she opts for home delivery. The payment options for the same include several options like credit card, debit card, digital wallet, online banking or cash on delivery (COD).
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The Online Food Delivery Market is split as follows, based on Platform Type:
Based on the business model, the industry is divided into:
Order-based food delivery system
Logistics based food delivery system
Full service food delivery system
The different payment methods offered on the market are:
Cash on delivery
The main regional market includes:
Middle East and Africa
In recent times, there has been an extraordinary increase in the purchase and use of smartphones. This has given a solid foundation for launching and growing the demand for online food delivery apps as it is an important tool for the consumer to easily access and enjoy their service. . Moreover, there has been an increase in urbanization and people’s lives have also turned into a busy life. This has led to more and more customers opting for this service.
Online food delivery service providers also ensure the development of user-friendly food websites and apps, improved logistics, quality service, quick and easy handling of complaints, and customer satisfaction, which has helped to establish a relationship of trust with consumers and to explode their market. The industry is expected to grow during the forecast period 2021-2026.
Main market players
Major market players are Just Eat, GrubHub, Food Panda, Delivery Hero, Deliveroo, Takeaway.com, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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