Operations

Growth ahead for global online food delivery

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January 10, 2023

The global online on-demand food delivery services market will increase by $266.05 billion by 2027 with a growth rate of 24.64%.

The marketplace includes restaurants, bars, hotels, pubs, fast-food operations, catering and take-out facilities.

The prediction is from Technavio's research report , "Global Online On-Demand Food Delivery Services Market 2023-2027." The report noted that the market is fragmented due to the numerous players and that rivalry is high among delivery vendors.

Driving the market growth are the increasing numbers of partnerships between restaurants and online food delivery aggregators, according to a press release on the research.

"For instance, in 2020, McDonald's India announced its partnership with Zomato to expand the availability and accessibility of food products in the northern and eastern regions of the country. Such partnerships will positively impact the market's growth during the forecast period," stated the release.

Consumer use of social media is a big trend and established providers, including Grubhub, have active social media presence to drive service growth.