Online Food Delivery Services Market To Expand At 15.4% CAGR By 2025, Owing To Rising Consumer Inclination Towards Buying From Online Platforms, Mobile Applications & Websites | Million Insights

FELTON, Calif., March 24, 2021 /PRNewswire/ -- The global Online Food Delivery Services Market is estimated to reach USD 63,551.77 million, by 2025, and is projected to grow at a CAGR of 15.4% from 2019 to 2025, according to a new report by Million Insights.

What are Key Factors Driving the Online Food Delivery Services Market?

The increasing consumer inclination towards buying from online platforms, mobile applications, and websites is driving the market growth. Moreover, rising penetration of the internet and growing number of smartphone users is expected to propel the demand for online food services.

Online food providers offer cashback benefits, rewards, discounts, and doorstep delivery options to gain traction among consumers. In addition, increasing income levels across the developing countries are changing consumer preference which is expected to boost the market growth in the coming few years.

Smartphone users are buying fast food through mobile applications owing to ease of access. The younger adults are preferring doorstep food delivery options while ordering food. Thus, the growing internet network and digital media are influencing the consumer to buy food from online service providers.

Companies in the online food delivery service market are engaging in improving consumer experiences and logistic capabilities. In addition, rising investment and funding in the company business is also surging growth of industry. For example, in 2019, Zomato has received funding of around USD 62.2 million from Naspers Limited, Chunwei Capital, Delivery Hero, and others.

Please click here to get the sample pdf and find more details on "Online Food Delivery Service Market" Report 2025.

For instance, in 2019, Martin Keane and Andrew Flynn has introduced plants with self-watering ability. This helps in reducing carbon footprints and avoids wastage of the water. These pots are produced from fully recycled polypropylene. Additionally, the plastic regulations are positively impacting the growth of the product in the market.

Key manufacturers in the market focus on reducing operational costs through optimized delivery. The usage of drones, parachutes, and robots for food delivery is gaining in popularity. All these technological developments are anticipated to bolster the demand for online food services.

Further key findings from the report suggest:

• Platform-to-consumer services segment is projected to propel at the CAGR of over 15.0% from 2019 to 2025.
• In 2018, restaurant-to-consumer service type held the market share exceeding 40.0% in the global online food delivery services market.
• Based on the channel type, mobile applications are estimated to grow at significant rate over the forecasted period.
• Online segment is projected to exceed at a CAGR of around 13.0% during the forecasted period, due to the growing trend of digitalization.
• Asia Pacific market is anticipated to grow significantly owing to increasing smartphone users, and income levels of consumers.

Browse 80 page research report with TOC on "Global Online Food Delivery Services Market" at: https://www.millioninsights.com/industry-reports/global-online-food-delivery-services-market

Million Insights has segmented the online food delivery services market based on type, channel type, payment method, and region:

• Online Food Delivery Services Type Outlook (Revenue, USD Million, 2014 - 2025)
• Restaurant-to-Consumer
• Platform-to-Consume
• Online Food Delivery Services Channel Type Outlook (Revenue, USD Million, 2014 - 2025)
• Website/Desktop
• Mobile Application
• Online Food Delivery Services Payment Method Outlook (Revenue, USD Million, 2014 - 2025)
• Cash on Delivery
• Onlin
• Online Food Delivery Services Regional Outlook (Revenue, USD Million, 2014 - 2025)
•  North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

Read the Latest Press Releases by Million Insights:

• Electronic Home Locks Market - The global electronic home locks market is estimated to reach USD 952.4 million by 2025, and is projected to grow at a CAGR of 16.1% from 2019 to 2025. The increase in the demand for advance security systems and rising trend of connected homes are the key factors propelling the market growth.
• Sports Supplement Market - The global sports supplement market size is projected to reach USD 43.3 billion, by 2025. The market is expected to grow with a CAGR of 11.2% during the forecast period. Rising demand for dietary source and protein bars is expected to drive the market during the forecast period, 2019 to 2025 along with an increase in fitness clubs, gyms and distributions channels, particularly in emerging countries.
• Capsule Coffee Machine Market - The global capsule coffee machine market size is projected to touch USD 1.78 billion by 2025. It is estimated to ascend with a CAGR of 4.8% over the estimated period, 2019 to 2025. The growing use of single-serve coffee in western nations such as Germany, the U.K., Switzerland and the U.S is driving the market growth.
• Anti-Fatigue Cosmetics Market - The global anti-fatigue cosmetics market size is expected to register revenue of USD 18.9 Million by the end of 2025. It is expected to grow with a CAGR of 4.5% from 2019 to 2025. This growth can be attributed to increasing skin related diseases owing to work life imbalance, unhealthy eating habits and stressful lifestyle.

About Million Insights:

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: [email protected] 
Web: https://www.millioninsights.com/ 
Follow Us: LinkedIn | Twitter

SOURCE Million Insights

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED