Food Delivery Services Market Current Scenario Trends, Comprehensive Analysis, and Regional Forecast to 2028
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Availability of a wide variety of food options online that can be delivered to consumer doorstep in a reasonable time frame
VANCOUVER, B.C., CANADA, February 7, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the world market for food delivery services is anticipated to reach USD 311.43 billion in 2028, with a consistent revenue CAGR of 11.4%. Increased smartphone use, increased numbers of dual-income households, increased Internet usage, and increased desire for quick access to affordable food are some of the major drivers boosting market revenue growth.
Among other things, food delivery businesses bring meals from restaurants, groceries from supermarkets, and vegetable boxes. Technology advancements have made it possible to provide quicker and more timely services, improving customer experience and keeping existing consumers as well. The popularity of the services offered is partly fueled by the assurance of safe and secure deliveries. The delivery service provider's reputation could suffer if an item was delivered incorrectly or a shipment was misplaced in the current highly competitive market. Food delivery processes are now more transparent to clients, and real-time tracking from location to destination provides assurance for safer delivery.
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Some Key Highlights from the Report
In June 2021, DoorDash, which is the top U.S. food delivery app, entered the Asian market by launching in Japan. The company is focusing on expanding globally to leverage opportunities resulting from the situation created by the COVID-29 pandemic. The company is small, but foraying into Japan is giving it access to one of the most restaurant-dense countries in the world.
Full-stack model segment revenue is expected to expand at a significantly robust rate during the forecast period as most back-end requirements and apps are taken care of by the food delivery service providers. They develop the app, hire delivery staff, and cooks/chefs to prepare food in-house. These are known as cloud kitchens where dining facility is not available. Although, these models require substantial investment, earnings increase steadily once sufficient scale is achieved.
Restaurant prepared food delivery segment accounted for largest revenue share in 2020 as social mentions of such deliveries by customers have skyrocketed, especially during COVID-19 pandemic. Companies such as GrubHub, JustEat, and Foodpanda have partnered with restaurants and deliver food to a sizable number of customers.
Cash on delivery segment revenue has been increasing substantially in the recent past owing to an increasing number of customers opting to pay by cash due to lack of trust in online transactions and processes. Skepticism regarding security of online payments and low level of digitalization in some developing countries is further driving growth of this segment. Banks are focusing on improving security and providing additional services to make online transaction more secure, and this along with rising deployment of more security levels is expected to result in addition of a sizable consumer base going ahead.
Competitive Terrain:
The Global Food Delivery Services Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Some major players in the global market include DoorDash, GrubHub, Uber Delivery, Just Eat Takeaway, Zomato, Deliveroo, Swiggy, Postmates Inc., Foodpanda, and Ele.me (Alibaba).
The global Food Delivery Services market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Food Delivery Services market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Food Delivery Services market.
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Emergen Research has segmented the global food delivery services market on the basis of platform, model, type, payments, and region:
Platform Outlook (Revenue, USD Billion; 2018–2028)
Online
Offline
Online to Offline (O2O)
Model Outlook (Revenue, USD Billion; 2018–2028)
Platform to Customer
Aggregators
Full-Stack Model
Restaurant to Consumer Model
Type Outlook (Revenue, USD Billion; 2018–2028)
Meal Kits Delivery
Restaurant Prepared Food Delivery
Grocery Delivery
Veggie Box Delivery
Payments Outlook (Revenue, USD Billion; 2018–2028)
Cash on Delivery
Online Payment
Detailed Regional Analysis covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Answered in the Report:
What will be the estimated growth rate of the Food Delivery Services market by 2028?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Food Delivery Services market throughout the forecast period?
What are the current and future market trends of the Food Delivery Services market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
Key Benefits of Buying the Global Food Delivery Services Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Food Delivery Services Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Food Delivery Services Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Food Delivery Services Market
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