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Online Food Delivery Services Global Market Report 2023
Major players in the market are takeaway.com, Doordash, Deliveroo, Uber eats, Zomato, Swiggy, Domino’s pizza, Grubhub, foodpanda, and Just eat. The global online food delivery services market will grow from $128.32 billion in 2022 to $143.05 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%.
New York, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Online Food Delivery Services Global Market Report 2023" - https://www.reportlinker.com/p06250377/?utm_source=GNW
Major players in the market are takeaway.com, Doordash, Deliveroo, Uber eats, Zomato, Swiggy, Domino’s pizza, Grubhub, foodpanda, and Just eat.
The global online food delivery services market will grow from $128.32 billion in 2022 to $143.05 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The online food delivery services market is expected to grow to $159.46 billion in 2027 at a CAGR of 2.8%.\
The market for online food delivery services includes revenues earned by entities by providing shipping services for food and related products to customers.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Online food delivery services refer to a shipping service for food in which companies are involved in distributing the packages received from hospitality establishments and have an online portal or application for their sales, in which the food can be either ready-to-eat food or food that has to be specially prepared for direct consumption.
Western Europe was the largest region in the online food delivery services market in 2022.Asia Pacific was the second largest region in the online food delivery services market.
The regions covered in the online food delivery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The online food delivery services market covered in this report is segmented by type into platform-to-customer and restaurant-to-customer.Platform-to-Customer refers to an online tool or a forum being created for businesses to enable them to have two-way communication with their customers.
The different channel types include websites, mobile applications, and involve various payment methods such as cash on delivery and online payment.
An increase in smartphone users has given a boost to online food delivery services worldwide.Smartphone users are the primary online shoppers for the F&B industry, and an increase in the number of smartphone users reflects a potential increase in online shopping for food and beverages.
The world’s F&B e-commerce users reached 1.5 billion in 2019 and are expected to grow by 800 million, with an average of 25% y-o-y growth, by 2024. 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. Hence, an increase in smartphone users and internet penetration is driving growth in online food delivery services.
The cost of supply chain and logistics will be the primary impediment to the growth of the online food delivery services market.This cost includes the cost incurred for order fulfillment; delivery costs; adjusting business resources to dynamic market demand; and last-mile connectivity.
Besides, there are costs for cardboard boxes for packaging, gas, mileage, and the cost of hiring a driver.The supply chain and logistics have to be in place in order to avoid the spoilage of products with limited shelf life.
According to the report by Capgemini, retailers could lose up to 26% of their profit if they fail to upgrade their logistics systems to ensure on-time delivery despite the increased online grocery system. Therefore, the costs incurred by the supplier side may restrain the growth of the online food delivery services market.
Upgradation of the distribution network to a more decentralised system, Distribution 4.0, is trending in the food delivery services market. In Distribution 4.0, suppliers partner with multiple players for the best market coverage between urban and rural markets, focusing their efforts on marketing, branding, and in-store merchandising to create a best-in-class shopper experience. They are likely to partner with aggregators, e-comm delivery companies, rural distribution companies, and distribution arms of modern trade to drive coverage. E-commerce aggregator Amazon has announced plans to team up with many small-scale businesses, retail outlets, and rural supermarkets to increase their last-mile connectivity. Therefore, the trend of Distribution 4.0 is envisioned to have some positive effects on online food delivery services.
In January 2020, Zomato, an Indian food delivery services company, acquired the Indian operations of Uber Eats for $350 million in an all-stock transaction.The combined entity of Zomato and Uber Eats India is expected to command a market share of more than 50-55 percent in terms of order volume and value.
Uber Eats is an online food delivery service vertical of Uber, a US-based ride-hailing company.
The countries covered in the online food delivery services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The online food delivery services market research report is one of a series of new reports that provides online food delivery services market statistics, including online food delivery services industry global market size, regional shares, competitors with a online food delivery services market share, detailed online food delivery services market segments, market trends and opportunities, and any further data you may need to thrive in the online food delivery services industry. This online food delivery services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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