Global Online Food Delivery Market is Expected to Grow at a CAGR of 16.46% During 2019-24

The global online food delivery market has been growing at an excellent rate and it is going to see a significant boom in the coming years as well. As per the report published by Reportsweb.com, it has been found that the global online food delivery and takeaway market is expected to see a growth of 16.46% CAGR during the time-period, 2019-24. The report covers the regions namely, North America, Europe, APAC, and ROW. And the countries included in the official report are the US, Canada, UK, Italy, Spain, France, Netherlands, China, Japan, India, Australia, Brazil, and the UAE.

In addition to this, the report highlights data for the historical period (2014-2018) and the forecast period (2019-2024). In the year 2018, the online food delivery market stood at USD 53578.5 million. The reasons for the high growth in this sector are increasing youth population, changing lifestyle and eating preferences, and the growing internet penetration. With the increasing use of smartphones, it has become common for people these days to try different cuisines. The promotional strategies of the companies and the cashback offers are the other factors which would help the global online food delivery market to grow during the forecast period, 2019-24.

In the US, food delivery is expected to see significant growth as people heavily search for pizza delivery near me to eat pizza. And in the near future, the use of e-bikes to deliver pizza and other food items will be easily seen in the US. The presence of a high number of food delivery services is one of the prime reasons for this sector in the country.


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