Home / Press Release / Convenience And Lucrative Offers Aiding The Online Food Delivery Services Market Growth Positively

Convenience And Lucrative Offers Aiding The Online Food Delivery Services Market Growth Positively

According to a new market research report published by Credence Research “Online Food Delivery Services Market (Delivery Type – Restaurant-to-Consumer Delivery and Platform-to-Consumer Delivery; Restaurant Type – Franchises and Standalone Restaurants) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the Online food delivery services market was valued at US$ 81.56 Bn in 2017 and will be growing at a CAGR of 9.8% during the forecast period from 2018 to 2026.

Browse the full report at  https://www.credenceresearch.com/report/online-food-delivery-services-market

Market Insights

The online food delivery services market was valued at US$ 81.56 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 9.8% during the forecast period from 2018 to 2026. In recent years, online food delivery has witnessed a rapid growth. These platforms allows customers to order food from an array of restaurants with a single tap on their mobile phone. The rise of the digital technology has reshaped the food delivery services market and consumers expect the same convenience and transparency which they are accustomed to while shopping online through apps or websites. Adequate funding and investments in this market space has been one of the most prominent factors aiding the online food delivery services market growth. The popularity of online food delivery services has been mostly the result of the numerous benefit it renders such as doorstep delivery, attractive discounts, rewards & cashback offers and various payment options.

There lies intense competition amongst the players operating in the online food delivery services market. Often the players in order to thrive in the competitive market are indulged in a discount-driven battle. For instance, it costs Zomato, an Indian restaurant search, discovery and deliver company approximately US$ 20 million as a result of the various discount it offers its customers. However, the same deep discounting approach of the company also helps it to add new members on the platform. The market is also witnessing trends such as robot delivery being trialled by some retailers.

Asia Pacific expected to register the fastest growth during the forecast period cfrom 2018 to 2026. Higher disposable income, a greater number of people with access to internet, increased smartphone proliferation and families with Double-Income-No-Kids (DINKS), are some of the most prominent factors aiding the food delivery services market growth in the region.

Key players profiled in the report include UberEats, Grubhub, Deliveroo, Domino’s, Just Eat, Swiggy, Zomato, Food Panda, DoorDash and Pastmates among others.

Current trends in the online food delivery services market:

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