Online Food Delivery Market Size Worth $ 388.74 Billion By 2028
Posted by Neha Bora on October 18th, 2022
San Francisco, 18 Oct 2022: The Report Online Food Delivery Market Size, Share & Trends Analysis Report By Type (Platform To Consumer Delivery, Restaurant To Consumer Delivery), By Region, And Segment Forecasts, 2022 - 2028
The global online food delivery market size is expected to reach USD 388.74 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2022 to 2028. The major growth factors include the growing preference of consumers toward mobile applications for ordering online foods owing to the ease of availability. Further, various major food delivery companies are expanding their customer base by entering into untapped markets geographically and demographically, which further drives the market. However, the rising adoption of takeaway facilities by the restaurants is projected to restrain the market growth over the forecast period.
The platform to consumer delivery type segment witnessed significant growth during the COVID-19 outbreak owing to the demand for online food supply. The online food delivery trends accelerated in part due to the effects of the COVID-19 pandemic, which resulted in in-store dining shutdowns and the adoption of shelter-in-place measures. Additionally, under the lockdown conditions imposed in countries, many people prefer online ordering of food instead of dining in restaurants and cafes.
The restaurant to consumer delivery type segment is expected to register the highest growth rate of 11.2% from 2022 to 2028. The market is mainly driven by the growing preference of restaurants for in-house delivery systems across the globe. Further, various major food restaurant chains such as Dominos and McDonald's are escalating their customer base by associating with aggregators such as Doordash, Takeaway.com Group B.V, Grubhub, Delivery Hero SE, and Uber Technologies Inc. for food delivery in untapped markets
North America is likely to witness growth in the years to come. The U.S. is positively contributing to the growth of the market. The presence of well-established online food delivery platforms such as Grubhub Inc. and Doordash Inc. is one of the key factors fueling the market growth. Along with this, the organized food retail sector, the presence of well-established food chains and restaurants, and the highest consumer spending on online food are the factors fueling the regional market growth.
Access Research Report of Online Food Delivery Market @ https://www.grandviewresearch.com/industry-analysis/online-food-delivery-market-report
Online Food Delivery Market Report Highlights
List of Key Players in Online Food Delivery Market
Access Press Release of Online Food Delivery Market @ https://www.grandviewresearch.com/press-release/global-online-food-delivery-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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