Online food delivery Market Size, Share, Trends & Forecast by IMARC Group.com
According to the
IMARC Group, Online food delivery is a convenient method
of ordering and delivering food via internet-based platforms. It primarily
includes mobile-based software applications or web pages that offer access to
single or multiple food joints based on customer preferences. Online food
delivery platforms provide secured payment getaways via various payment
options, diverse food options, door-step delivery, and numerous discounts.
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The global online food delivery market is primarily driven by the rising
urbanization levels and increasing penetration of IoT–based smart devices.
Furthermore, the hectic work schedules of the consumers, growing women working
population, and sedentary lifestyles are also propelling the demand for
ready-to-eat (RTE) food variants. Additionally, the increasing adoption of
online sales channels by several brick-and-mortar food chains to expand their
consumer base is further catalyzing the market growth. Moreover, the
integration of online food delivery platforms with numerous advanced
technologies, such as AI, IoT, Big Data, etc., to provide a personalized
consumer experience will continue to bolster the global market over the
forecasted period.
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Market Summary:
·
Based on the platform type, the market has been bifurcated into mobile
applications and websites. Currently, mobile applications dominate the market,
holding the largest share. Online food orders through mobile phones have
witnessed a sharp increase in recent years due to the rising number of
smartphones users across the globe.
·
On the basis of the business model, the market has been classified into
order focused, logistics based and full-service food delivery systems. At
present, order focused food delivery systems account for the majority of the
market share.
·
The market has been segmented on the basis of the payment method which
includes online and cash on delivery (COD). Amongst these, the online segment
represents the most frequently used payment method.
·
Region-wise, the market has been segregated into China, North America,
Asia (excluding China), Europe and Rest of the World. Presently, China is the
leading market, holding the majority of the market share.
·
The competitive landscape of the market has also been examined with some
of the key players being Just Eat, GrubHub, Delivery Hero, Deliveroo,
Takeaway.com, Foodpanda, Ele.me and Meituan Waimai.
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