Online Food Delivery - Worldwide
- Worldwide
- The revenue in the Online Food Delivery market is forecasted to reach US$1.04tn in 2023.
- It is expected to exhibit a compound annual growth rate (CAGR 2023-2028) of 11.47%, resulting in a projected market volume of US$1.79tn by 2028.
- In the Grocery Delivery market, a revenue growth of 22.2% is anticipated in 2024.
- The market volume for Grocery Delivery is projected to be US$0.64tn in 2023.
- When compared globally, in China is expected to generate the highest revenue, amounting to US$395.90bn in 2023.
- The average revenue per user (ARPU) in the Grocery Delivery market is projected to be US$463.80 in 2023.
- In the Meal Delivery market, the number of users is expected to reach 2.5bn users by 2028.
- The user penetration in the Meal Delivery market will be approximately 25.2% in 2023.
- These figures represent the market of Online Food Delivery market on a global scale.
- In the global online food delivery market, countries like the United States and China are leading the way with their large consumer base and robust delivery infrastructure.
Key regions: India, United States, Asia, China, Europe
Analyst Opinion
The Online Food Delivery Market is a combination of Grocery Delivery and Meal Delivery. The market gained a great deal of traction from the COVID-19 Pandemic. The growth can be seen in almost every market. Now that food aggregators like Just Eat Takeaway and Delivery Hero have established themselves, they are now venturing into the Grocery Delivery space. While acquisitions are nothing new in the Meal Delivery space, these aggregators are taking big risks as Quick Commerce has yet to prove profitable.
Although the market saw two years of unprecedented growth, 2022 is looking to slow that down with uncertain macroeconomic conditions and consumers looking to save money. Consolidation of the key players will likely happen which will further expand the gray area between Grocery and Meal Delivery.
China and the US lead in terms of Gross Merchandising Value (GMV). Chinese companies are well-established and the market is mature. U.S. consumers enjoy discretionary spending and that does not look to be slowing down anytime soon.
Methodology
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.Overview
- Revenue
- Analyst Opinion
- Users
- Global Comparison
- Methodology
- Key Market Indicators