Online Food Delivery Market to Garner a CAGR of 9.2% by 2026 Driven by Increased Smartphone Adoption and Evolution in Consumers’ Lifestyles, Projects GlobalData Plc
Research Reports
Oct 11, 2022
The latest market analysis report by GlobalData Plc titled Online Food Delivery Market Size, Share, Trends, Analysis, and Forecasts by Region and Outlet Type 2021-2026 projects the online food delivery market size was USD 245.4 billion in 2019. The analysts at GlobalData Plc have identified the rising smartphone penetration and evolving food preferences of consumers post the pandemic.
The COVID-19 lockdowns ensured online food delivery becomes an integral part of the new normal. FMCG companies, retailers, and food service outlets used online delivery services to offer convenience and easy availability to consumers while saving them both time and effort. Furthermore, with the maximum population working from home during the pandemic across the globe, the demand for online food delivery services witnessed a surmountable hike. These factors have encouraged the online food delivery services market to grow at a CAGR of 9.2% and reach USD 679.5 billion by 2026.
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Online Food Delivery Market Segmentation Analysis
By Outlet type
- Restaurant: The restaurant segment held the largest online food delivery market share by outlet type in 2019. The dominance of the restaurant segment can be attributed to their broader penetration and higher number of channels compared to other outlets. When restaurants had to shut down their dine-in services in the wake of the COVID-19 pandemic, the online food delivery business boomed and kept the restaurants up and running. Furthermore, the segment will continue to retain its dominance in the market as it can attract more traffic due to its wide range of cuisines, personalized orders, and dedicated wait staff to manage orders.
- Retail
- Mobile operator
- Pub, Club & Bar
By Geography
- Asia Pacific: Asia-Pacific will continue to contribute the largest online food delivery market share in both value and volume terms towards the overall over 2021-2026. With more emerging economies than anywhere else, including those of China, India, Indonesia, Thailand, Vietnam, and the Philippines, Asia Pacific has the most favorable demography for online food delivery. In addition, other factors such as strong consumer class expansion, quick technological adoption, digital transformation, and growth in consumer spending power are further fueling the online food delivery market adoption. The availability of strong network connectivity is enabling customers from remote areas to order food online which plays an important role in the growth of online food delivery in the region.
- North America
- Europe
- South & Central America
- Middle East & Africa
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Online Food Delivery Market Trends
The main trends shaping the online food delivery theme over the next 12 to 24 months are shown below. We classify these trends into four categories:
Technology Trends
- Artificial intelligence (AI) and machine learning (ML)
- Conversational platforms
- Digital transactions
- Drone delivery
- Food delivery robots
Macroeconomic Trends
- Aging populations and vulnerable consumers
- Circular plastic economy
- Carbon emissions & environmental regulations
- Data breaches and privacy concerns
- Food regulation
- City growth engines
Consumer Trends
- Convenience
- Social Media
- Direct-to-consumer and eCommerce
- Cocooning
- Evolving landscapes and single lifestyles
Regulatory Trends
- Food regulation
- Data breaches and privacy concerns
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Online Food Delivery Market Vendor Landscape
The online food delivery market competition is intensifying due to the new entrants launching innovative measures to make their mark in the market against already established market participants. Online food delivery companies are engaging in strategic partnerships and continuous M&As to strengthen their market positions and make the most of available market opportunities. This report provides a comprehensive analysis of each vendor and the strategic moves each of them is making to retain their market values.
Top Online Food Delivery Market Companies
- McDonald’s Corp.
- Yum! Brands, inc.
- Starbucks Corporation
- Restaurant Brands International
- Domino’s Pizza Inc.
- Doctor’s Associates Inc.
- Roark Capital Group
- CFA Properties, Inc
- Dunkin’ Brands Group, Inc.
- The Wendy’s Company
- Darden Restaurants Inc.
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About GlobalData
GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.
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+44 (0)207 936 6400
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Media Contacts Mark Jephcott Head of PR EMEA mark.jephcott@globaldata.com cc: pr@globaldata.com +44 (0)207 936 6400
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