Online food-delivery market projected to expand to US$250 billion
Online food delivery is anticipated to grow to US$250 billion by 2028 with China holding the largest share of the market.
According to this year’s Online Food Delivery Market report, both consumers and food service providers are expected to benefit from this trend of online ordering.
The report says consumers are seeking convenience, speed and accuracy, while food service providers want increased revenue, reduced labour costs and minimised errors.
The growth is attributed to factors such as the widespread adoption of smartphones and internet connectivity along with the convenience of doorstep delivery driving patrons to order more online.
For food-delivery providers, labour savings will be a huge win if staff are not tied to a phone or at the counter while the enhanced accuracy of online orders, increased guest convenience and streamlined order processing all offer notable benefits.
The market segment is divided into China, North America, Asia Pacific (excluding China), Europe, and the rest of the world with key players such as Just Eat, GrubHub, Delivery Hero, Deliveroo, Ele.me, Takeaway.com, Foodpanda and Meituan Waimai.