High preference for online food delivery is a key factor expected to drive market growth by 2028

PUNE, MAHARASHTRA, INDIA, May 15, 2023 /EINPresswire.com/ -- The Global Online On-Demand Food Delivery Services Market report provides precise information about market size, share, demand, supporting factors, trends, restraints, and market risks. The report is curated using extensive primary and secondary research thoroughly evaluated by market experts and opinion leaders. Every chapter in the report is well-researched and the data in it is presented using attractive charts, graphs, figures, and tables to navigate users and readers through the report.

The global online on-demand food delivery services market is expected to register a robust revenue CAGR over the forecast period. Key factors such as increasing urbanization, rising partnerships between restaurants and online food delivery aggregators, and growing preference for online food delivery services due to enhanced convenience are expected to drive global market growth during the forecast period.

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Online on-demand food delivery services have become increasingly popular in recent years due to busy lifestyles, an increasing desire for fast and convenient meal options, and added convenience that these services provide. Online food delivery services allow consumers to order food online from various restaurants and have it delivered to specific locations. These services generally operate through a website or mobile application, where customers can browse menus, place orders, and track deliveries in real time.

Some key benefits of online on-demand food delivery services include seamless ordering and payment services, broader selection of food options from various restaurants, catering to different tastes and preferences, quick delivery, and real-time tracking. Growing inclination towards quick and easy meal options, rising number of dual-income families, and rising availability of discounts and instant delivery on online food delivery applications are other factors expected to drive global market growth during the forecast period.

However, high competition leading to pricing pressures and lower profit margins for companies, stringent regulatory challenges, delivery logistics, and dependence on restaurant partners are expected to hamper overall market growth to a certain extent during the forecast period.

Family Segment to Account for Largest Revenue Share:
The family segment is expected to account for largest revenue share between 2023 and 2028. This can be attributed to changing consumer food preferences, growing prevalence of busy and fast-paced lifestyles, rising demand for quick and easy meal options, high preference for online on-demand food delivery services due to enhanced convenience, door-to-door instant delivery and access to variety of cuisine options to cater to diverse taste and preferences of family members.

North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share during the forecast period owing to increasing demand for online food delivery as a convenient alternative to dining out or cooking at home, changing consumer preferences, increasing adoption of busy and sedentary lifestyles, emergence of novel delivery models, and presence of leading market players.

Browse Complete Report Summary with ToC here: https://www.xcellentinsights.com/reports/online-on-demand-food-delivery-services-market-401723

Some Companies Listed in the Report:
• Deliveroo
• Delivery Hero
• DoorDash
• GrubHub
• Just Eat Holding
• Meituan
• Foodler
• Postmates
• Swiggy
• OrderUp
• Munchery
• Eat 24

Online On-demand Food Delivery Services Industry Recent Developments:
• In March 2023, Meituan, a Beijing based e-commerce platform for life services, announced the launch of new marketing tools for its food delivery business.
• In September 2020, Delivery Hero SE, world’s largest local delivery platform launched online food delivery under its brand foodpanda in Japan to strengthen its position in Aisa.

The global online on-demand food delivery services market has been segmented based on type, application, and region:

Online On-demand Food Delivery Services Market Segment by Type:
• Order-focused Food Delivery Services
• Logistics-focused Food Delivery Services

Online On-demand Food Delivery Services Market Segment by Application:
• Office Buildings
• Family
• Others

Key Questions Addressed:
• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global online on-demand food delivery services market?
• What is the expected market size of the global online on-demand food delivery services market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?

You can Purchase the Complete Report here: https://www.xcellentinsights.com/checkout/401723

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