High adoption of home delivery services during the COVID-19 pandemic lockdown is a key factor driving market revenue growth
Market Size – USD 106.73 Billion in 2020, Market Growth – at a CAGR of 13.2%, Market Trends – Advancement in technology
The global digital food delivery market size is expected to reach USD 369.97 Billion in 2030 and register a revenue CAGR of 13.2% over the forecast period, according to the latest report by Reports and Data. Rapid globalization and digitalization are driving market revenue growth.
The digital food delivery market assists in improving the customer-restaurant relationship. It delivers a comprehensive sales dashboard that includes data on new, active, and canceled orders, as well as lifetime sales statistics. It also includes an order management system that automates the entire ordering process from order placement to delivery, and all of this makes the whole process of ordering food online more streamlined and profitable.
Online orders are 20 percent more on average than while dining in, resulting in higher revenue. Customers tend to spend more time determining what to order when they can explore the menu without feeling rushed bylines. The more time people have to consider their options, the more likely they are to order. Customers can use their mobile phones, laptops, or other devices to place orders online at any time and from anywhere. With a website or mobile app, customers may place an order without having to deal with the aggravation of conversing on the phone. The internet is a free community, where restaurants can target audiences with a user-friendly website and social media activity on platforms such as Facebook and Instagram. All of this is available for a fraction of the cost of traditional marketing and advertising methods.
In the wake of the COVID-19 pandemic, there is stiff competition in the market, and that is driving companies to execute complex plans by improving their logistics, and as a result, the digital food delivery market has witnessed significant growth globally. Due to improvements in logistics and an increase in logistics providers, digital food delivery was one of the fastest-growing sectors in 2020 and provided customers with safe, socially distant, and convenient services.
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Some Key Highlights From the Report
- In December 2021, Olo partnered with Lyft to streamline delivery and digital orders for restaurants. By providing a network of third-party delivery service providers, such as Lyft, Olo’s dispatch solution allows restaurant brands to accommodate delivery for orders produced through their website and applications.
- New delivery system business model is one of the most extensively used marketplace solutions. Restaurants, clients, and delivery are all handled by it. It is one of the most widely used marketplace solutions by companies. Most restaurants employ this approach since it eliminates the need for delivery.
- A restaurant’s day-to-day operations are very efficient by using an end-to-end service system. When a customer places an order online, they take their time to read the menu and become familiar with the add-on bargains and offers that a restaurant is providing. This results in an increase in overall sale value per order that is valuable. The restaurant also has complete autonomy starting from the ordering platform to delivery.
- Websites segment accounted for significant market revenue share in 2020, as visits were not as often as on mobile application installs but still it has shown a considerable rise in orders and the offers and coupons on successful transaction provided regularly is driving the growth in this segment.
- Several factors are now driving the online meal delivery sector in North America. The region’s growing internet meal delivery sector is fueled by the region’s large metropolitan population, hectic lifestyles, and lack of domestic help. Furthermore, several online meal delivery service providers are experimenting with cutting-edge food delivery technologies such as self-driving cars, drones, and robots, which are favorably impacting the market growth.
- Companies profiled in the global market report include Just Eat Takeaway.com, Zomato Ltd., DoorDash, Swiggy, Postmates Inc., Uber Technologies Inc., Delivery Hero SE, Grubhub, Amazon.com, Inc., and Domino’s Pizza Inc.
For this report, Reports and Data have segmented the digital food delivery market based on the business model, platform type, payment method, and region.
- Business Model Outlook (Revenue, USD Billion; 2018–2030)
- New Delivery System
- End-to-End Service
- Platform Type Outlook (Revenue, USD Billion; 2018–2030)
- Mobile Applications
- Payment Method Outlook (Revenue, USD Billion; 2018–2030)
- Online Transactions
- Pay on Delivery (POD)
- Regional Outlook (Revenue, USD Billion; 2018–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Conclusively, all aspects of the Digital Food Delivery Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market based on market drivers, limitations, and prospects.
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