In last couple of years, the popularity of food delivery services has increased significantly at global platform. The market has matured in most countries. Significant shift in food & beverage industry, increasing internet, and smartphone penetration among younger customers has pointedly contributed in the market expansion. On top of this, new as well as traditional food delivery companies have invested healthy amount and strengthen their marketing efforts in last couple of years for the recognition of the brand.
Rapidly growing use of smartphones coupled with increasing internet penetration is primarily driving the growth of global food delivery market. Smartphone users are the major buyers for the food & beverage industry and an upsurge in the figure of smartphone users reflects a significant increase in online shopping for F&B. According to Hootsuite’s Global Digital and We Are Social 2019 report, internet users are growing by an average of more than one million new users every day. Currently, there are 5.11 billion unique mobile users in the world, which increased by 100 million from 2018. Furthermore, the transformation from dining out culture to the eating in culture is also playing a major role in the growth of the market. On the other hand, the highly volatile prices of the food industry, high third-party reliance, and unstable customer base are expected to restrict the growth of the global online food delivery market. However, increasing focus on data-driven user experience optimization to create immense growth opportunities for online food delivery players.
The global market for food delivery is bifurcated into type, payment mode, and region. By type, the global market is categorized into logistics-based food delivery system, order-focused food delivery system, and full-service food delivery system. By payment mode, the market is segmented into cash on delivery and online.
Asia Pacific is likely to hold the major share in the global food delivery market over the forecast period. Key factor driving the growth of the market in the region is the presence of a huge number of smart phone users. Also, presence of large number of service providers in the region offering several food and beverage options have created a massive boom in the regional market. North America is expected to be the second largest market for food delivery followed by Europe. Shift in food culture, hectic office schedules, and increasing expenditure on food product coupled with current pandemic conditions are contributing for healthy growth of the market in the North America and Europe.
Key players functioning in the global food delivery market include Delivery Hero, GrubHub, Just Eat, Foodpanda, Meituan Waimai, Deliveroo, Zomato, Takeaway.com, and Ele.me among others. In 2017, Zomato procured a logistics startup, Runnr to increase its logistics services in UAE and India.
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