Press release
Online Food Ordering Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029 | Introspective Market Research
The Online Food Ordering Market is expected to grow at a significant growth rate over the analysis period 2022-2028, considering base year as 2021.
Online food ordering provides convenience and accessibility to customers, allowing them to browse menus, place orders, and make payments from the comfort of their homes or on-the-go. It eliminates the need for phone calls and reduces waiting times. Many online food ordering platforms act as third-party aggregators, partnering with multiple restaurants and providing a single platform for customers to access a wide range of dining options. Examples of popular third-party aggregators include Uber Eats, Grubhub, DoorDash, and Deliveroo. In addition to third-party aggregators, some restaurants and food establishments have developed their own online ordering platforms or mobile applications to directly serve their customers.
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Players Covered In Online Food Ordering Market
• McDonalds (US)
• KFC (US)
• GrubHub (US)
• Swiggy (US)
• MEITUAN (China)
• Uber Eats (California)
• DoorDash (US)
• Caviar (California)
• Zomato (US)
• Subway (US)
• Pizza hut (US)
• Starbucks (US)
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Despite its growth, the online food ordering market faces challenges such as high competition, profitability concerns for restaurants due to commission fees charged by third-party platforms, logistics and delivery management, and maintaining food quality during transportation.
Market Dynamics:
Driver:
The widespread adoption of smartphones and the availability of affordable internet access have been instrumental in the growth of the online food ordering market. As more people have access to mobile devices and reliable internet connections, they can easily order food anytime, anywhere. Evolving lifestyles, including busier work schedules, dual-income households, and the desire for convenience, have fueled the demand for online food ordering. Consumers seek quick and easy meal solutions that fit their busy lives, and online platforms provide a convenient way to order food without compromising on quality or variety.
Opportunities:
The online food ordering market still has untapped potential in many regions. Expanding into emerging markets or regions with lower penetration rates can provide significant growth opportunities for online food ordering platforms and restaurants. These areas may have a growing urban population, increasing smartphone adoption, and a rising demand for convenient food delivery services. Online food ordering platforms can collaborate with restaurants and food establishments to offer exclusive deals, promotions, and customized menus. By partnering with popular or unique dining establishments, platforms can attract a broader customer base and provide diverse dining options to their users.
The Report Will Include A Major Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.
Segmentation Analysis Of Online Food Ordering Market
By Type, the platform-to-consumer delivery segment dominates the overall market growth of online food ordering in the past few years and is expected to continue its dominance over the forecast period.
By Payment Mode, the online banking segment is expecting maximum market share in online food ordering during the projected period. Online banking includes the payment process by using online payment platforms such as phone pay, Google pay, and others.
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By Type
• Platform to Consumer Delivery
• Restaurant to Consumer Delivery
By Payment Mode
• Online Banking
• Net Banking
• Cash on delivery
Regional Analysis Of Online Food Ordering Market
Asia-Pacific is the major dominating region for Online Food Ordering. Rising consumer interest and a better understanding of the technology are supporting the growth of the market. Additionally, Increasing need for quick and easy services due to workloads and hectic life style, people are so busy and getting less time for cooking and cleaning so they are most likely to order food from different restaurants by using online food.
By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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Key Industry Development In The Online Food Ordering Market
In January 2020, Zomato, an Indian food delivery services company, has acquired Indian operations of Uber Eats for $350 million in an all-stock transaction. The combined entity of Zomato and Uber Eats India is expected to corner more than a 50-55% market share in terms of the number and value of orders. Uber Eats is an online food delivery services vertical of Uber, a US-based ride-hailing company.
In September 2020, Olo, one of the leading foods ordering platform for the restaurant industry announced that it Serve, it's completely refreshed ordering experience, is available for all customers leveraging the Olo platform to serve diners.
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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