Global Food Delivery Services Market: Industry Analysis and Forecast (2020-2026)
Global Food Delivery Services Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 12.8 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Food Delivery Services Market Overview:
The presence of a fast-paced lifestyle especially in the urban areas has resulted in increased dependence on restaurants and hotels for food by a large number of people. An increase in the preference for an individualistic lifestyle has resulted in a rise in preference for food from hotels instead of preferring home-cooked food. Food Delivery Services acts as the intermediary between food products making establishments and consumers for a specific price. Food Delivery Service collects food product from the place it is manufactured and delivers it to the individual who has ordered it. Technological advancements have resulted in increased use of online platforms for ordering food products.
Food Delivery Services focuses on maintaining the temperature and content specifications by doing fast-paced delivery to the customers. Different modes of transportation like bicycles, automobile vehicles, public transport vehicles, and robots are used for Food Delivery Services. An increase in the preference for outdoor food products has resulted in a boom in the revenue of Food Delivery Services providing platforms. A rise in the entertainment industry and changing work cultures has resulted in a growth in the Global Food Delivery Services Market.
Global Food Delivery Services Market Dynamics:
Urbanization has resulted in an increase in the nuclear family structure around the world. Growth in industrialization has resulted in increased work hours and limited time to do household chores. This has resulted in increased demand for food products from commercial establishments. The rising preference for readily available food products has resulted in a growth in the Food Delivery Services Industry.
An increase in the preference for indoor activities like a binge-watch of entertainment programs and long-duration gaming competitions by people from all age groups has resulted in a rise in demand for doorstep delivery of food products. Increased per capita income and rising demand for readily available food products have resulted in a rising demand for Food Delivery Services.
An increase in the use of the internet for ordering food products has resulted in rapid growth in the Food Delivery Services Market in the last 10 years. Easy to understand interface and options for online payment have resulted in an increased preference for ordering food from commercial establishments. A rise in the offers given by hotels and delivery platforms has resulted in a growth in the Food Delivery Services Market.
Availability of options like subscription services that reduce the monthly food bill for an individual and the use of airtight containers and hot bags for keeping the food products as per the requirement of temperature have resulted in increased dependence of people, especially in metropolitan cities on Food Delivery Services.
The study of Dabbawalas in Mumbai who are in the Food Delivery Service industry since the early 1960s can provide a systematic and well-constructed approach for individuals trying to enter this market. Dabbawalas in Mumbai collect lunch from families or hotels and deliver them to the individuals by using the medium of bicycle and local trains. The efficiency shown by them is researched by prestigious management schools like Harvard and Wharton. This study provides in-depth details about the conventional medium of Food Delivery Services.
An increase in demand for a variety of food products regularly and the presence of limited time for cooking acts as the major driving factor for the growth of the Global Food Delivery Services Market.
A rising preference for home-cooked food products acts as the major restraining factor here.
Global Food Delivery Services Market Segment Analysis:
The Global Food Delivery Services Market is segmented on the basis of
By Type, It is observed that more than 24% of the Food Delivery Services cater to the Restaurant-to-consumer category of service. An increase in the use of the internet has resulted in a 9.3% increase in the Platform to consumer category.
By Channel Type, It is observed that more than 40% of the customers prefer the medium of websites for ordering food from the Food Delivery Services. The easy-to-use interface has resulted in a 5.5% increase in the use of mobile applications provided by online food delivery platforms. The use of conventional mediums like telephone has observed a rise of 1.7% which is centered more in restaurant-to-consumer platforms.
By Payment Method, The preference for the conventional medium of payment by people in developing countries has resulted in a 1.3% increase in the preference for the Cash on Delivery option for payment. An increase in the use of the internet for payment options has resulted in a 6.1% rise in preference for online payment options.
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A report by Global Banking Index states that more than 55% of the payments done on the Online Food Delivery Service platforms were through Credit Cards. An increase of 6.3% has been observed in the use of Debit Cards by people living in the developed countries for payment of food ordered through Food Delivery Service Platforms. An increase of 6.8% has been observed in the use of Mobile Wallets for the payment of food products purchased through Food Delivery Services platforms.
The rising preference for the use of discount coupons for corporate employees has resulted in a 2.4% increase in the use of Meal Benefit Coupons. Increased preference for the use of the internet for paying Food Delivery Services has resulted in a 3.1% increase in the use of Net Banking. Different payment methods are used as per the specifications and guidelines provided by the respective governments.
Global Food Delivery Services Market Regional Insights
Global Food Delivery Services Market Regional InsightsThe presence of a large population preferring readily available food products has resulted in an 8.1% increase in the Food Delivery Services Market in the Asia-Pacific. Several factors like the increase in the working class, limitation in time for cooking, and presence of a large foodservice industry plays a crucial role in the growth of the Food Delivery Services Market in this region.
The presence of time-starved people on a large scale has resulted in a 4.5% increase in the Food Delivery Services Market in North America. A rise in indoor entertainment activities has resulted in a 3.3% increase in the Food Delivery Services Market in Europe.
The rising Foodservice industry has resulted in a 3.1% increase in Food Delivery Services in South America. The Middle East and Africa’s Market is showing a growth rate of 2.6%, the reason for which is the rising per capita income and increased preference for food products from famous fast-food chains like McDonald’s and Pizza Hut.
The objective of the report is to present a comprehensive analysis of the global Food Delivery Services market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Food Delivery Services market dynamics, structure by analyzing the market segments and Project the global Food Delivery Services market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Food Delivery Services market make the report investor’s guide.
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Global Food Delivery Services Market
Global Food Delivery Services Market, by Region:
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Food Delivery Services Market Key Players
• Mr. D Food
• Postmates, Inc.
• Glovoapp 23 SL
• Uber Delivery
• Delivery Hero
• Just Eat PLC
• Zomato Media Pvt. Ltd.
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