SAN FRANCISCO, April 6, 2023 /PRNewswire/ -- The global online food delivery market size is expected to reach USD 505.50 billion by 2030, expanding at a CAGR of 10.3% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. Smartphones allow users to easily browse a list of restaurants and place orders with their chosen restaurants. Improved connectivity and smartphone access are expected to enable market players to expand their presence in untapped markets, thereby increasing their customer base. Online food ordering through mobile applications allows users to connect with restaurants and provide relevant feedback essential to enhancing the food and delivery quality.
Key Industry Insights & Findings from the report:
The platform-to-consumer segment is anticipated to observe a CAGR of 12.2% during the forecast period. According to industry reports, email marketing is a successful marketing in the U.S. that can help restaurants to connect with their users.
Food delivery giants can also send newsletter updates, to share their blog content and encourage users to follow them across their social media channels.
Asia Pacific region is expected to grow at the fastest CAGR of 11.4% from 2023 to 2030 owing to increasing urbanization, rapid expansion in food delivery services, and the growing number of dual-income families across China and India.
Restaurants are adopting software technologies that allow customers to order and pay at the table using their smartphones and other devices. These developments and initiatives would contribute to the regional market growth during the forecast period.
Read full market research report for more Insights, "Online Food Delivery Market Size, Share & Trends Analysis Report By Type (Platform to Consumer, Restaurant to Consumer), By Region (North America, Europe), And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Online Food Delivery Market Growth & Trends
The soaring rate of smartphone adoption is driving new users to adopt online food ordering services, thereby contributing to market growth. The growth can be attributed to the increasing number of restaurants worldwide along with the widening usage of cloud-based technology and growing acceptance of Quick Service Restaurant (QSR) services. Owing to the pandemic, many packaged food services and restaurants chose online sales channels to meet consumer needs. As a result, the added benefit of installing POS systems to precisely identify customer preferences and sales trends is expected to augment the market's growth.
However, unstable market prices are one of the key restraints of the market. Food prices in the online food delivery services market are highly volatile and are subject to several factors in the food industry. Online food delivery service businesses may find it difficult to keep track of market prices and develop a suitable pricing model.
Most delivery platforms make money through revenue streams such as customer delivery fees per order, in-app advertising, customer service fees, restaurant commission fees, and tips to drivers. Among these factors, restaurant commission fees are the most contentious as restaurants may increase the rate of their food due to higher commissions charged by online delivery platforms. These costs are further passed on to customers in terms of service charges, which are expected to drive the customer away from a particular restaurant due to high food prices.
Online Food Delivery Market Segmentation
Grand View Research has segmented the global online food delivery market based on type and region:
Online Food Delivery Market - Type Outlook (Revenue, USD Billion, 2018 - 2030)
Restaurant to Consumer
Platform to Consumer
Online Food Delivery Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)
List of Key Players in the Online Food Delivery Market
Delivery Hero SE
Domino's Pizza Inc.
Ele.me (Alibaba Group Holding Limited)
Papa John's International, Inc.
Just Eat Takeaway.com
Uber Technologies Inc.
Check out more market research studies published by Grand View Research:
Autonomous Last Mile Delivery Market - The global autonomous last mile delivery market size is projected to reach USD 5.9 billion by 2030, witnessing a CAGR of 23.5% during the forecast period, according to a new study by Grand View Research, Inc. The growing demand for delivery services that are both fast and cost-effective, in addition to the expanding e-commerce industry, has augmented the industry's growth. In addition, due to a robust startup ecosystem in the robotics sector and rapid technological advancement, the market is expected to grow during the forecast period. Furthermore, autonomous last-mile delivery comprises autonomous vehicles delivering services and products to customers' doorsteps without human assistance during the process.
Instant Grocery Market - The global instant grocery market size is expected to reach USD 588.2 billion by 2030, growing at a CAGR of 19.0% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. Grocery retailers are compelled to reconsider their strategy as consumers shift toward omnichannel from brick and mortar stores. Over the projection period, strong trends, including shifting customer attitudes and technological advancements such as accessible and engaging interfaces implemented in instant grocery delivery apps, will likely disrupt the grocery industry nationwide.
Automated Parcel Delivery Terminals Market - The global automated parcel delivery terminals market size is expected to reach USD 1.06 billion by 2025, according to a new study by Grand View Research, Inc. The market is expected to witness significant growth, owing to the rapidly increasing volumes of parcel shipping. Such a considerable increase in volume is primarily driven by the growth in e-commerce market and cross-border deliveries globally. In addition, the increasing demand for alternative delivery solutions is also fueling the market growth.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.