Online Food Delivery Market Size to reach USD 679.5 Billion By 2026 Growing at 9.2% CAGR | GlobalData Plc
LONDON, UK, October 7, 2022 /EINPresswire.com/ — The global online food delivery market size reached USD 437.8 billion in 2021, according to a new report by GlobalData Plc. Expansion of internet bandwidth and smartphones coupled with changing lifestyles of consumers and the impact of the COVID-19 pandemic are the key drivers which are expected to aid the online food delivery market growth, forecasts GlobalData, a leading data and analytics company.
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Besides the pandemic, the online food delivery market growth witnessed a rapid uptake due to the proliferation of varied delivery models including one-hour, next-day, or even two-day delivery. To meet the surging demand, key trends such as increased reliance on third-party delivery partners and in-house restaurant delivery fleets are on the rise. Also, tech support from big tech firms entering this sector and food delivery subscriptions have witnessed accelerated growth over the last year and will continue during the forecast period. Thus, the online food delivery market value is projected to exceed $679 billion by 2026, registering a CAGR of 9.2% from 2021 to 2026.
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Online Food Delivery Market Report Highlights
• The global online food delivery market is projected to witness a CAGR of 9.2% from 2021 to 2026, reaching a value of $679.5 billion. Increasing penetration of the internet and smartphones coupled with changing lifestyles of consumers is driving the demand, a trend expected to continue over the forecast period.
• In 2021, restaurant outlet type dominated the delivery channel market value at global, globally. Contactless delivery, convenience, and ease of ordering restaurant-quality food at home have contributed to segment share so far.
• On a regional demand front, in 2021 Asia Pacific dominated the online food delivery market by capturing over 60% of the total market value. Improved service, the emergence of new delivery formats, with growing investments in this space is expected to drive regional demand over the forecast period.
• The online food delivery market key vendors analyzed as part of this report include McDonald’s Corporation, Yum! Brands, Inc., Starbucks Corporation, Restaurant Brands International, and Domino’s Pizza Inc., among others. The industry is characterized by new investments.
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GlobalData Plc has segmented the online food delivery market report by outlet type and region:
Global Online Food Delivery Outlet Type Outlook (Revenue, USD Million, 2019-2026)
• Restaurant
• Retail
• Mobile Operator
• Pub, Club & Bar
Online Food Delivery Market Regional Outlook (Revenue, USD Million, 2019-2026)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• Rest of Asia Pacific
• South & Central America
• Brazil
• Mexico
• Rest of South & Central America
• Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa
View Report Outlook at: https://www.globaldata.com/store/report/online-food-delivery-market-analysis/
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