Market Trends of Global Food Platform-to-Consumer Delivery Industry
This section covers the major market trends shaping the Food Platform-to-Consumer Delivery Market according to our research experts:
Growing Prominence of Online Food Delivery Apps along with Rising Internet Penetration
- An increase in internet users has boosted food platform-to-consumer delivery services worldwide. Smartphone users are the primary online shoppers for the Food industry, and growing internet penetration across the world reflects a potential increase in online shopping for food.
- The growing adoption of online food delivery platforms significantly rose after the COVID-19 pandemic, which has further increased in the following years. Additionally, ease of convenience and availability of various payment gateways in online food delivery apps led to widespread adoption among consumers worldwide.
- Moreover, the expansion of the various food delivery platforms such as Deliveroo, Uber Eats, Zomato, Swiggy, and Doordash Inc. further increases online delivery adoption across the globe. Additionally, significant integration of smart technology by the food delivery platforms for customer convenience is expected to provide ample growth opportunity to the market.
- Moreover, online food delivery apps provide numerous benefits to consumers, such as enhanced accuracy of online orders, increased convenience for the consumers, simpler order processing, easy tracking, etc. Moving on, as more and more people are using food delivery apps, several startups and SMEs are leveraging this lucrative market opportunity. They are launching food delivery apps with innovative features and unique value propositions to cater to the altering demands of the people.
- Above mentioned factors are expected to increase the adoption of food delivery apps, thus boosting the food platform-to-consumer delivery market over the forecast period.
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Asia Pacific Expected to Hold the Largest Share in Food Platform-to-Consumer Delivery Market
- The Asia Pacific region is home to some of the emerging and already established market players such as Zomato, Meituan Waimai, Swiggy, and FoodPanda. These market players offer innovative platform-to-consumer delivery with an enhanced consumer experience in the region.
- Moreover, the growing adoption of food delivery apps among consumers in the region proliferates the market. Additionally, growing competition between delivery service providers in the region results in extreme food affordability. Moreover, consumers often receive steep discounts and coupons when placing a food delivery order. This has often made online food delivery cheaper than dining in. This has resulted in the significant adoption of online food delivery in China, India, and Japan.
- Further, the leading market players in the region are expanding their presence in rural and semi-urban areas. This is expected to provide growth potential for the platform-to-consumer delivery market players. For instance, in India, with Bangalore, Delhi, and Mumbai representing the three largest markets, leading food delivery platforms such as Swiggy and Zomato are now also targeting smaller cities, as they have strong growth potential.
- Furthermore, the market in Asia Pacific region is providing ample opportunity to food Platform-to-Consumer delivery market players and attracting investment from global players. For instance, in March 2022, United Kingdom-based food delivery company Deliveroo entered the Indian Market by launching an engineering center in Hyderabad.
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