Online Food Delivery Market to Hit $161.74 Billion by 2023 - Global and Regional (US, UK, China, India, etc.) Industry Strategy and Statistic Analysis: Adroit Market Research

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Dallas, Texas, April 16, 2019 (GLOBE NEWSWIRE) -- The global online food delivery market size is estimated based on the ongoing trends and increase in the company’s spending on better and efficient online food delivery. The report also provides various insights related to competitive strategies, value chain analysis, market dynamics, and regional analysis.

In terms of application, Non-family segment generated a maximum revenue share of 70.6% in the year 2017 and is anticipated to maintain a similar trend over the forecast period. The nonfamily segment is expected to generate a revenue of USD 115.43 billion by the end of 2023, growing at a CAGR of 16.2%. Generation Z spends ~ 6 to 8 hours daily over the web, “connected” through numerous electronic devices. Majority of the preference for things related to food or clothing is derived from word-of-mouth posts on social media and peer references. This group also turns to community applications to read reviews of restaurants and gauge prices. Food service delivery options are especially important to Gen Z since this group represents around 32% of the global population, a large target group who will drive the growth in delivery far into the future.

The “Global Size 2017 by Type (Delivery, Takeaway), by Application (Non-family, Family), By Region (US, Canada, Mexico, Brazil, Rest of America, Germany, UK, Italy, France, Spain, Rest of Europe, China, India, Japan, South Korea, Australia, Southeast Asia and Rest of APAC, Egypt, GCC Countries, Israel, Turkey, South Africa, & Rest of MEA) and Forecast 2018 to 2025” study provides an elaborative view of historic, present and forecasted market estimates.

In terms of region, Asia Pacific dominated the global online food delivery market with market revenue of USD 34.31 billion and share of 52.1% for the year 2017. Asia Pacific is also the growing region for this market and is anticipated to contribute revenue of USD 91.0 billion and share of 56.2% by 2023. The regional growth is driven by a surge in demand for easy and quick food delivery services.

The U.S. is one of the key countries across America’s online food delivery market as it stands as a hub for the most successful start-ups to date. U.S. accounted for a maximum market revenue share of 83.4% in America’s online food delivery market and is expected to show a similar trend over the forecast period growing at a CAGR of 8.3%. Also, online food delivery services are one of the fastest and most frequently used services in China. Huge populous and technological advancement is backing the growth of online food delivery services across this country.

Zomato, Deliveroo, Just Eat, Swiggy, Takeaway.com, Delivery Hero, Food panda, is expected to be the key potential entrants for the expanding online food delivery market. The top companies in the online food delivery market such as Domino’s, Grub Hub/Eat 24, Pizza Hut, Papa John's International, Inc., and Jimmy John's accounts for nearly 90% of the global online food delivery market.

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Globe Newswire: 05:08 GMT Tuesday 16th April 2019

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