Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "North America Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The North America online food delivery market size reached US$ 29.8 Billion in 2022. Looking forward, the market is set to reach US$ 64.8 Billion by 2028, exhibiting a growth rate (CAGR) of 13.7% during 2023-2028
The growing number of food outlets selling healthy and nutritious meals, rising preferences for quick access to food at affordable prices, and increasing adoption of enhanced delivery services are some of the major factors propelling the market.
Online food delivery comprises the process of ordering food via digital platforms, such as websites or mobile applications, and having it delivered to a location within a short time. It enables individuals to browse through an extensive range of menus and a variety of restaurants, fast food joints, and cafes to purchase their preferred meals.
It also helps businesses eliminate the hassle of incorporating dine-in facilities in their business models. Furthermore, as online food delivery assists restaurants and food joints in conducting real-time expense monitoring, its demand is rising in the North American region.
At present, the increasing demand for online food delivery, as it is convenient and offers efficient customer and order management, represents one of the crucial factors impelling the growth of the market in North America. Besides this, the rising preference for quick access to food at affordable prices is contributing to the growth of the market in the region.
In addition, the considerable reliance on smartphones, along with the availability of high-speed internet, is offering a favorable market outlook in North America. Apart from this, the increasing availability of heavy discounts, rewards, cashback, and coupon codes on various online food delivery apps and websites is supporting the growth of the market.
Additionally, the rising emergence of cloud kitchens and virtual restaurants offering a wide variety of cuisines is strengthening the growth of the market in North America.
North America Online Food Delivery Market Trends/Drivers:
Rising demand for convenient food stimulating market growth
At present, the preferences of consumers are more towards ordering food online rather than preparing meals at home as it is more convenient and saves a lot of time.
Besides this, online food delivery enables individuals to go through a wide variety of menus from numerous restaurants and cafes and select what they want. It also helps working individuals eliminate the hassle of cooking or traveling to a restaurant and allows them to order their preferred meals and get them delivered to their homes or workplace.
Furthermore, online food delivery provides various discount coupons and lucrative offers, which is catalyzing its demand in North America.
Increasing food outlets that sell healthy and nutritious meals is catalyzing demand for online food delivery
Presently, food outlets and quick service restaurants are diversifying their menu by incorporating various healthy meal options for health-conscious consumers, fitness enthusiasts, and gym goers in North America.
They are enabling individuals to curate their own salads by selecting ingredients for monitoring their calorie intake. They are also selling low-calorie dishes which are primarily roasted or grilled instead of deep fried.
Besides this, online food delivery businesses in the region are presenting various subscription-based models wherein individuals can select a meal plan comprising healthy dishes, along with the details of calories and other nutrients for the whole week or a month.
Rising adoption of enhanced delivery services augmenting market growth
Online food delivery businesses in North America are adopting enhanced delivery services that claim to deliver orders within a specified period.
Enhanced delivery services focus on optimizing delivery times by improving logistics, route planning, and employing efficient delivery networks. They are ideal for individuals who are hungry and want their meals promptly or for those who have time constraints and need their food delivered quickly.
They also enable consumers to track their orders from the moment they are placed until they arrive at their doorstep. This transparency instills confidence in customers, as they can monitor the progress and status of their deliveries and estimate the exact time of arrival.
Mobile applications represent the largest market share
The report has provided a detailed breakup and analysis of the North America online food delivery market based on the platform type. This includes mobile applications and websites. According to the report, mobile applications represented the largest segment as they provide limited and isolated functionality and often use location-based features. They also enable individuals to buy food online by browsing through an extensive list of restaurants and food joints offering a wide variety of dishes.
Websites are a collection of files accessed via a web address, covering a particular theme or subject, and managed by a particular cafe or restaurant. They enable food service companies to take orders from their customers directly without the involvement of any third-party business or platform. Websites also allow them to conduct marketing campaigns to promote their services and products among potential customers.
Order focused food delivery system accounts the majority of the market share
A detailed breakup and analysis of the North America online food delivery market based on the business model have also been provided in the report. This includes order focused food delivery system, logistics based food delivery system, and full-service food delivery system. According to the report, order focused food delivery system accounted for the largest market share as it enables customers to see the menu from various restaurants and food joints and place an order from the one which is appropriate for their choice and budget. It acts as a mediator between customers and various local restaurants.
Logistic based food delivery system employs cab drivers or logistic service providers to pick up food orders from quick service restaurants and deliver them to the doorstep of the buyers.
Full service food delivery system ensures no third party is involved and employs their own in-house chefs to prepare the dishes. They also have in-house couriers or delivery personnel to deliver the ordered food to the doorstep of the customers on time. They enable individuals to pre-order their food and deliver it on the specified date at the specified location.
Online holds the biggest market share
According to the report, online accounted for the largest market share as it is a convenient payment method that enables customers to pre-pay for orders remotely. It can be done via online payment platforms with the help of credit or debit cards, unified payments interface (UPI), and net banking. It is a cashless mode of payment and often provides various cashback offers and lucrative discounts to payers.
Cash on delivery method enables individuals to pay for their orders after they receive them. It allows customers to trust a brand and prevent the risk of losing money. It also enables individuals to provide a tip to the delivery person for their service.
United States exhibits a clear dominance, accounting for the largest North America online food delivery market share
United States held the biggest market share due to the rising preference of ordering food online instead of making home-cooked meals. Besides this, the growing reliance on smart devices, including smartphones, tablets, and laptops, to browse online menus and place orders, is propelling the growth of the market. In addition, increasing emergence of fast-food joints and quick service restaurants selling flavorful dishes at affordable prices are bolstering the online food delivery market in the region.
Canada is estimated to expand further in this domain due to rising number of restaurants and food joints opting for online delivery systems to connect with a greater number of customers and increase their sales.
Competitive Landscape:
There is currently a rise in online food delivery on account of the increasing consumption of fast food, along with the rising demand for convenient food to eliminate the hassle of cooking. As a result, leading companies are offering regular discounts and offers to their customers for ordering online.
They are also focusing on improving various aspects of their apps, such as incorporating customer review sections, real-time tracking of orders, and enabling individuals to book tables through their apps. Besides this, they are planning on developing menus catering to vegan and vegetarian customers consisting of various flavorful dishes made with plant-based ingredients. Top companies are adopting sustainable packaging solutions for their food products and offering super-fast delivery of orders.
The report has provided a comprehensive analysis of the competitive landscape in the North America online food delivery market. Detailed profiles of all major companies have also been provided.
For more information about this report visit https://www.researchandmarkets.com/r/kban5b
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