Global Online food delivery services Market provides a brief and detailed knowledge about key players, market state and circumstances that are covered deeply in this report. The business chain supporting the Online food delivery services market is analysed in detail covering accurate information about aspects such as the industrial chain, proficiency in utilization of the available capacity of manufacture, and industry strategies that affect the market.
Online food delivery services Market study offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain ruthless advantage. Online food delivery services Market Forecast provides sizing and growth opportunities. It provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market. it also includes a detailed analysis of growth drivers, challenges, and investment opportunities and delivers a complete overview of segments and the regional outlook of the market.
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The global online food delivery services market is estimated to reach USD 63,551.77 million, by 2025, and is projected to grow at a CAGR of 15.4% from 2019 to 2025. The increasing consumer inclination towards buying from online platforms, mobile applications, and websites is driving the market growth. Moreover, rising penetration of the internet and growing number of smartphone users is expected to propel the demand for online food services.
Online food providers offer cashback benefits, rewards, discounts, and doorstep delivery options to gain traction among consumers. In addition, increasing income levels across the developing countries are changing consumer preference which is expected to boost the market growth in the coming few years.
Smartphone users are buying fast food through mobile applications owing to ease of access. The younger adults are preferring doorstep food delivery options while ordering food. Thus, the growing internet network and digital media are influencing the consumer to buy food from online service providers.
Companies in the online food delivery service market are engaging in improving consumer experiences and logistic capabilities. In addition, rising investment and funding in the company business is also surging growth of industry. For example, in 2019, Zomato has received funding of around USD 62.2 million from Naspers Limited, Chunwei Capital, Delivery Hero, and others.
For instance, in 2019, Martin Keane and Andrew Flynn has introduced plants with self-watering ability. This helps in reducing carbon footprints and avoids wastage of the water. These pots are produced from fully recycled polypropylene. Additionally, the plastic regulations are positively impacting the growth of the product in the market.
Key manufacturers in the market focus on reducing operational costs through optimized delivery. The usage of drones, parachutes, and robots for food delivery is gaining in popularity. All these technological developments are anticipated to bolster the demand for online food services.
Some of the companies for online food delivery services market are:
DoorDash; Takeaway.com; Just Eat Holding Limited; Uber Technologies Inc.; and Swiggy.
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