Sep 09, 2019 (SUPER MARKET RESEARCH via COMTEX) -- According to the latest report by IMARC Group, the online food delivery market reached a value of US$ 84.6 Billion in 2018. 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 Just Eat plc (otcmkts:JSTTY), Grubhub Inc. /zigman2/quotes/210404212/composite GRUB +2.88% , 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. Looking forward, the global online food delivery market size is projected to exceed US$ 164.5 Billion by 2024, expanding at a CAGR of 11.4% during 2019-2024.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/online-food-delivery-market
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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