May 12, 2022
The business intelligence report titled ‘Global Online Food Delivery Market (2021 Edition) - Analysis By Platform Type (Website, Application), Business Model, Payment Method (Online, Cash on Delivery), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, states that global online food delivery market, which generated an ample revenue of USD 107.26 billion in 2020, is anticipated to record a strong CAGR through 2026.
The rise of online food delivery models owing to the convenience and speed in the wake of the Covid-19 pandemic, in congruence with mounting number of smartphone users are the major factors fueling global online food delivery market growth.
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Further, strategic initiatives spearheaded by major players, which include the acquisition of Takeaway.com and Grubhub Inc. by Just Eat Holding Limited in 2020 and 2021 respectively, are likely to have a positive impact on the growth dynamics of the industry in the forthcoming years.
Despite the positive outlook, imminent challenges in the form of high delivery costs may hamper market progression during the analysis timeframe.
Moving on, the industry is fragmented on the basis of business model, platform type, payment method, and regional terrain.
Considering business model, worldwide online food delivery market is divided into full-service food delivery system, order focused delivery system, and logistics-based food delivery system. The order focused food delivery system segment is expected to showcase exponential growth through the forecast timeline, attributable to rapid increase in the number of businesses and industries at the local as well as regional levels.
From a geographical viewpoint, Asia Pacific is fast emerging as a lucrative prospect for market expansion during the study period, creditable to increasing consumer base, coupled with rapid urbanization in countries like India, China, and Japan.
The competitive landscape of global online food delivery industry is majorly influenced by key players such as Dunzo, Postmates, Swiggy, Grubhub Inc., DoorDash Inc., Meituan Waimai, Uber Eats, Yum Brands Inc., Just Eat Holding Limited, and Delivery Hero SE.