Food Delivery Mobile Application Market: -Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 – 2028
Food Delivery Mobile Application Market was valued at USD 5.8 billion in 2021 and is expected to reach USD 33.8 billion by the year 2028, at a CAGR of 29%.
The food delivery mobile application is a technology that provides a platform for the hotels, food providers, and different food franchises to deliver food products through an online portal with mobile devices. It is an easy and fast way to deliver food according to the convenience and at their place. It is an easily accessible deployment platform, for multiple suppliers. This open-source platform is used by a large no of populations. People are ordering food daily by using these platforms; over 650 million people order food online every day thus to fulfill the need of people several hotels and restaurants are providing food delivery services. Many major industry giants like Swiggy, Deliveroo, Zomato, and Takeaway.com are generating revenue exponentially due to the increase in the usage of food delivery mobile applications. The most popular food delivery application in India is Zomato and Swiggy dominated the market capturing 70% of the market.
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Major Key Players for Food Delivery Mobile Application Market:
- Red Hat
Market Dynamics and Factors:
The Food Delivery Mobile Application is driven due to the increase in the adoption of mobile phones and the internet. Most of the population is using mobile phones and for quick services, people prefer online food delivery platforms to offer services to a large population majority of providers are using this platform which gives high exposure to the market. In addition to this, According to Statista, in global comparison, most revenue will be generated in China USD158, 100.00m in 2022. The online delivery company with the highest U.S. market share is Grubhub. In 2020, an average of roughly 623 thousand orders was made using the Grubhub Inc. platform. Moreover, these online ordering platforms provide their drivers with vehicles that collect the meal from the chosen restaurant and deliver it to the consumer. These facilities allowed many restaurants to enter the delivery market. All these factors are providing growth to the food delivery market. However, the lack of connectivity in the rural areas in developing regions is hampering the growth of the market during the analysis year.
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Food Delivery Mobile Application Report Highlight:
- By deployment platform, the android segment is predicted to expand the most in the food delivery mobile application during the forecast year. The high penetration of android phones due to the services provided by android devices at a low cost boosts the growth of the market.
- By end-user, the food delivery marketplace segment is anticipated to dominate the food delivery mobile application during the forecast period. The online food ordering and the delivery marketplace is a centralized hub where all restaurants and other food outlets are listed so the scope of the marketplace is widening from the customer, restaurant owner, and the delivery side that provides growth to the market.
- By region, Asia-Pacific is expected to dominate the food delivery mobile application during the projected period. The increasing penetration of smartphones, increasing economy and changing food habits support the growth of the food delivery mobile application in Asia-Pacific.
Key Industry Development:
- In July 2020, Uber Eats, one of the leading food delivery service providers based in the U.S., acquired its competitor Postmates for $2.65 billion.
- In March 2022, online food aggregator Zomato made announcement that it will soon launch ‘Zomato Instant’ for delivery of food within 10 minutes.
Food Delivery Mobile Application Segmentation:
By Deployment Platform
- Food Delivery Market Place
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For this report, Introspective Market Research has segmented the Food Delivery Mobile Application based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Food Delivery Mobile Application study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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