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Digital Food Delivery Market Size – USD 106.73 Billion in 2020, Market Growth – at a CAGR of 13.2%, Increased penetration of internet in developing countries
NEW YORK, NY, UNITED STATES, June 21, 2022 /EINPresswire.com / -- Surge in hectic lifestyle and increase in disposable income is a key factor drivng market revenue growth
The global Digital Food Delivery Market size is expected to reach USD 369.97 Billion in 2030 and register a revenue CAGR of 13.2% during the forecast period, according to the latest report by Reports and Data. Hassle free procedure of ordering food online and a variety of options available while ordering food is driving market revenue growth.
Unlike conventional home deliveries where one had to call up and choose food from a few number of options, through digital delivery system, availability of wide variety in the food menu from different restaurants allows customers to choose and compare before ordering. Availability of high-speed internet is a key driver that is boosting market revenue growth. Digital food delivery has evolved beyond takeout to include everything, generating millions of dollars in income.
After the outbreak of COVID-19, the world entered a global lockdown. Many mobile app sectors registered an increase in engagement for nearly two years, as more consumers spent time on their smartphones during this period. Food delivery was one of the fastest-growing verticals in 2020, offering customers safe, socially distant, and convenient services. COVID-19 has catapulted the sector forward a few years, as millions of people in lockdown for the first time ordered meals online.
Unstable, or rather unreliable internet connection, poor management, and lack of logistics in developing countries are major factors limiting growth of digital food delivery market in these areas. This presents the greatest opportunity for the industry as COVID-19 pandemic has made most of the population worldwide more internet savvy and eager to adopt the service they couldn't avail before.
Companies profiled in the global market report includes Just Eat Takeaway.com, Zomato Ltd., DoorDash, Swiggy, Postmates Inc., Uber Technologies Inc., Delivery Hero SE, Grubhub, Amazon.com, Inc., and Domino's Pizza Inc.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter's Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Digital Food Delivery market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Digital Food Delivery market.
Some Key Highlights from the Report
•In July 2021, the Qmin mobile app was released, followed by the gourmet Qmin Shop in August and the loyalty platform in September. Qmin by IHCL (Indian Hotels Company) will provide a unique delivery experience for guests, with a greater emphasis on adhering to strict safety and hygiene requirements. This includes contactless delivery and the requirement that delivery executives wear safety gear in sterilized vehicles. The packaging will be environment-friendly, made of biodegradable materials, and will include bespoke insulating boxes to keep the food fresh until delivery.
•Aggregator-based online meal delivery firms allow several eateries to register and operate on a single food delivery platform. This business strategy collects services from multiple restaurants and combines them into a single platform. In this arrangement, the platform functions as a middleman between clients and eateries. Just Eat, Delivery Hero, and Uber Eats are just a few of the big names in the food delivery sector who have embraced the aggregator model, and their development has been quite significant.
•New delivery system business model is one of the most widely used marketplace solutions by companies. It handles restaurants, customers, and delivery. It is one of the most common marketplace solutions used by businesses. Most restaurants sign up for this system because they don't have to worry about delivery.
•Mobile applications segment accounted for significantly high revenue share in 2020. Global installs of food delivery apps increased by 25% in 2020 compared to 2019 and were up by a further 21% in 2021. While the installs were significant, the sessions were even more so. When compared to 2019, global sessions of meal delivery applications increased by 88% in 2020. In 2021, global sessions increased by another 43%.
•Market in Asia Pacific accounted for largest revenue share in 2021. China contributed heavily to Asia Pacific revenue. The country's food delivery market has grown to be the largest in the world. Ele.me and Meituan Dianping, the two largest operators, control over 90 percent of all food deliveries in the country and have set up sophisticated platforms, which have far lower overhead costs than Western food delivery apps.
To understand how our Digital Food Delivery Market report can bring difference to your business strategy:-
For the purpose of this report, Reports and Data has segmented the digital food delivery market based on business model, platform type, payment method, and region.
Business Model Outlook (Revenue, USD Billion; 2018–2030)
•New Delivery System
Platform Type Outlook (Revenue, USD Billion; 2018–2030)
Payment Method Outlook (Revenue, USD Billion; 2018–2030)
•Pay on Delivery (POD)
Regional Outlook (Revenue, USD Billion; 2018–2030)
•Middle East & Africa
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Key Advantages of Digital Food Delivery Report:
•Identification and analysis of the market size and competition
•Qualitative and quantitative analysis of the market data
•Data validated by industry experts after extensive primary and secondary research
•Extensive regional analysis of the Digital Food Delivery industry
•Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
•SWOT and Porter's Five Forces Analysis for in-depth understanding of the competitive landscape
•Feasibility analysis and investment analysis to enable strategic investment decisions
•Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Digital Food Delivery market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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