According to IMARC Group’s latest report, titled “Online Food Delivery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global online food delivery market reached a value of US$ 107.4 Billion in 2020. Looking forward, IMARC Group expects the global market has huge potential for growth during 2021-2026.
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Online food delivery refers to the process of ordering prepared food using websites and applications. With the rising internet penetration and smartphone adoption, the demand for online delivery services has increased significantly. They also provide increased ease of use and convenience compared to on-call order placements, which reduces the chances of error and involves minimal human interaction.
The top online food delivery companies are offering a range of restaurants and cuisines to choose from, along with frequent discounts and offers. Consequently, they are gaining traction among the young and affluent consumers with hectic schedules. Additionally, they offer various payment options, including credit/debit cards, mobile wallets, net banking and cash on delivery. Moreover, market players are collaborating with high-end eateries and restaurants to provide consumers with gourmet food in the comfort of their homes. They are also employing drones and robots to reduce delivery time and offer a novel experience to users.
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Some of the major key players in the market are:
- Just Eat
- Delivery Hero
- Meituan Waimai
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