Nov 05, 2020 (SUPER MARKET RESEARCH via COMTEX) -- The global online food delivery market reached a value of USD 96 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Online food delivery is a service which enables customers to purchase food online using a website or application. These platforms register and uphold accounts to make the frequent ordering of food more convenient. Generally, a customer begins by searching for a desired restaurant or food outlet, selecting the food items from their menu and choosing the option of delivery or pick-up. The payment is either made online using a credit card, debit card, digital wallet and net banking or via Cash on Delivery (COD). As online food delivery systems reduce errors, labor expenses, long queues and waiting time, their usage is increasing across the globe.
Some of the major players operating in the industry include Grubhub Inc. /zigman2/quotes/210404212/composite GRUB +1.64% , Just Eat PLC (JE), Delivery Hero (DHER), Deliveroo, Takeaway.com (TKWY), Foodpanda, Ele.me and Meituan Waimai.
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Online food delivery applications provide the convenience of ordering food by comparing the menus of different restaurants and receiving fast delivery of meals at the desired location. Moreover, they also aid in making cashless transactions to food joints, thereby increasing the convenience. Apart from this, with the increasing sales of smartphones, rising internet penetration and the burgeoning food industry, a significant number of the consumers are relying on these applications for trying out different cuisines.
Further, online food delivery offers service providers with detailed customer information which can be employed by them for developing and implementing promotional strategies. Some of the other growth-inducing factors include rapid urbanization, hectic lifestyles, improved logistics, and the development of user-friendly food websites and applications.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/online-food-delivery-market
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Breakup by Platform Type
1. Mobile Applications
Market Breakup by Business Model
1. Order Focused Food Delivery System
2. Logistics Based Food Delivery System
3. Full-Service Food Delivery System
Market Breakup by Payment Method
2. Cash on Delivery
Market Breakup by Region
2. North America
3. Asia (Excluding China)
5. Rest of the World
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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