LONDON--(BUSINESS WIRE)--The global online on-demand food delivery services market size is poised to grow by USD 44.23 billion during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
With the rising penetration of e-commerce and Internet-enabled devices, consumers are increasingly preferring to order food through online food delivery options. Online ordering is highly preferred by tech-savvy consumers over conventional on-premise dining due to factors such as low costs and the availability of a large variety of dishes. The rising demand among consumers because of the convenience involved in ordering food online is driving the need for online on-demand food delivery services. Considering the high demand for online food, vendors are increasingly investing in technology to improve various aspects of their businesses. This will subsequently drive market growth over the forecast period.
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Report Highlights:
- The major online on-demand food delivery services market growth came from the order-focused food delivery services segment. The order-focused food delivery services business model predominantly involves the software-based aggregation of orders. As a result, the market vendors have a high potential for scalability, contributing to the online on-demand food delivery services market growth. The online on-demand food delivery services market share growth by the order-focused food delivery services segment will be faster than the growth of the market by the logistics-focused food delivery services segment.
- APAC was the largest online on-demand food delivery services market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increased investments by vendors to improve the efficiency of logistics and the rising consumer willingness to spend on food delivery services will significantly drive online on-demand food delivery services market growth in this region over the forecast period.
- The global online on-demand food delivery services market is fragmented. Alibaba Group Holding Ltd., Delivery Hero SE, Glovoapp23 SL, Grab Holdings Inc., Grubhub Inc., Just Eat Takeaway.com NV, Meituan Dianping, Postmates Inc., Roofoods Ltd., and Zomato Media Pvt. Ltd. are some of the major market participants. To help clients improve their market position, this online on-demand food delivery services market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the online on-demand food delivery services market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we re-evaluate the impact on businesses and update our report forecasts.
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Rising Popularity of Social Media in Online On-demand Food Delivery will be a Key Market Trend
Online on-demand food delivery services market trends such as the rising popularity of social media in online on-demand food delivery will also influence market growth. Social media is a key channel for marketing and promotional activities including promotional codes. Social media also provides a platform for online on-demand food delivery service providers to directly connect and engage with customers. Vendors are increasingly partnering with social media websites to expand their customer base. Grubhub and Doordash have already partnered with Facebook to operate its new food delivery platform. As a result of such factors, the market is expected to grow at a CAGR of 7% during 2020-2024.
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Online On-Demand Food Delivery Services Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist online on-demand food delivery services market growth during the next five years
- Estimation of the online on-demand food delivery services market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online on-demand food delivery services market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online on-demand food delivery services market vendors
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Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Business model
- Market segments
- Comparison by Business model
- Order-focused food delivery services - Market size and forecast 2019-2024
- Logistics-focused food delivery services - Market size and forecast 2019-2024
- Market opportunity by Business model
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alibaba Group Holding Ltd.
- Delivery Hero SE
- Glovoapp23 SL
- Grab Holdings Inc.
- Grubhub Inc.
- Just Eat Takeaway.com NV
- Meituan Dianping
- Postmates Inc.
- Roofoods Ltd.
- Zomato Media Pvt. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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