New York, NY -- (SBWIRE) -- 07/25/2019 -- Market Size – USD 88.04 Billion in 2018, Market Growth - CAGR of 9.1%, Market Trends – Increase in demand for digital food delivery in new-delivery system.
The global digital food delivery market is forecast to reach USD 179.27 Billion by 2026, according to a new report by Reports and Data. The Digital Food Delivery market is rising rapidly in the global market owing to the increase in adoption rate of digital food delivery due to its hassle-free, less time-consuming procedure, and a wide variety in option. Making use of mobile applications or websites, customers can now sit back and order food from various available cuisines in the city in no minute. This makes the digital food delivery market quite favorable for the food lovers and work devoted people and thus resulting in a sustainable market.
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In the year 2018, aggregators segment has witnessed the highest market demand. The adoption rate of online food ordering is getting higher day by day. Most of the restaurants have opted for taking the orders online and delivering their food to the customers' place directly.
Asia Pacific market is forecasted to generate a revenue of USD 98.60 Billion in the year 2026, owing to its large consumer base and technological and economic advancements in the developing countries.
Further key findings from the report suggest
- In the business model type, aggregators segment is likely to continue being the dominator of the market with almost 52.2% of market share by 2026. Aggregators are the traditional business model where many restaurants are listed on aggregator portals. The customers can view and compare the menus, price details, and reviews by the other customers. Once a customer orders something, the aggregators then put that order forward to the restaurant only. There is nothing more the aggregators do. The restaurant then manages the delivery to the customers. Typically the aggregators' profit margin is about 40% excluding tax and other convenience fees.
- New-Delivery System segment is another segment which is contributing a larger market share of 42.4% by 2026. New-Delivery system offers all the benefits like aggregators through their website or mobile application. Other than those offerings, the new-delivery segment also provides logistics to its customers. The new-delivery segment takes more than a 35% profit margin and even gets a small fee from the customers too.
- Mobile Applications are helping the market to grow at a successive CAGR of 15.4% throughout the forecast period. The high rate of increasing number of mobile phone users makes this segment auspicious. Most of the vendors have now started making mobile applications in order to achieve a higher number of customer engagement.
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- Online transaction is a high growth segment in the forecast period. The revolution of the cashless economy is majorly responsible for this segment to grow high. The customers nowadays prefer online transactions over conventional cash paying system. Hence the vendor to offer the online transaction gets a higher consumer base.
- APAC is predicted to grow with an overall CAGR of 10.1% throughout the forecast period, generating a revenue of USD 98.60 Billion by 2026. Indeed, a large number of consumer base and increasing internet availability helps this region to retain the highest market share.
- North America would have a market presence of 27.6% with a CAGR of 8.8% by 2026 having the highest growth rate in aggregators segment.
- Key participants include Just Eat, Zomato, FoodPanda, Uber Eats, DoorDash, Swiggy, Domino's Pizza, McDonald's, Delivery Hero, Grubhub.
For the purpose of this report, Reports and Data have segmented the global Digital Food Delivery Market on the basis of business model, platform type, payment method, and region:
Business Model Outlook (Revenue, USD Billion; 2016-2026)
- Aggregators
- New-Delivery
- End-To-End Service
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Platform Type Outlook (Revenue, USD Billion; 2016-2026)
- Websites
- Mobile applications
Payment Method Outlook (Revenue, USD Billion; 2016-2026)
- Online Transactions
- Pay On Delivery
Regional Outlook (Revenue, USD Billion; 2016-2026)
- North America
o U.S.
- Europe
o UK
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil
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