According to the IMARC Group, Online food delivery is a convenient method of ordering and delivering food via internet-based platforms. It primarily includes mobile-based software applications or web pages that offer access to single or multiple food joints based on customer preferences. Online food delivery platforms provide secured payment getaways via various payment options, diverse food options, door-step delivery, and numerous discounts.
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The global online food delivery market is primarily driven by the rising urbanization levels and increasing penetration of IoT–based smart devices. Furthermore, the hectic work schedules of the consumers, growing women working population, and sedentary lifestyles are also propelling the demand for ready-to-eat (RTE) food variants. Additionally, the increasing adoption of online sales channels by several brick-and-mortar food chains to expand their consumer base is further catalyzing the market growth. Moreover, the integration of online food delivery platforms with numerous advanced technologies, such as AI, IoT, Big Data, etc., to provide a personalized consumer experience will continue to bolster the global market over the forecasted period.
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· Based on the platform type, the market has been bifurcated into mobile applications and websites. Currently, mobile applications dominate the market, holding the largest share. Online food orders through mobile phones have witnessed a sharp increase in recent years due to the rising number of smartphones users across the globe.
· On the basis of the business model, the market has been classified into order focused, logistics based and full-service food delivery systems. At present, order focused food delivery systems account for the majority of the market share.
· The market has been segmented on the basis of the payment method which includes online and cash on delivery (COD). Amongst these, the online segment represents the most frequently used payment method.
· Region-wise, the market has been segregated into China, North America, Asia (excluding China), Europe and Rest of the World. Presently, China is the leading market, holding the majority of the market share.
· The competitive landscape of the market has also been examined with some of the key players being Just Eat, GrubHub, Delivery Hero, Deliveroo, Takeaway.com, Foodpanda, Ele.me and Meituan Waimai.
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