Dublin, March 08, 2024 (GLOBE NEWSWIRE) -- The "United States Online Food Delivery Market Report by Platform Type, Business Model, Payment Method, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States online food delivery market size reached US$ 29.1 billion in 2023 and is projected to reach US$ 68.6 billion by 2032, exhibiting a growth rate (CAGR) of 10% during 2023-2032
The changing consumer preferences for eating at home, expanding adoption of convenience-driven lifestyles, significant technological advancements in the industry, and the COVID-19 pandemic-induced demand are among the key factors driving the market growth.
Online food delivery is the process of ordering and receiving food items through digital platforms, typically facilitated by dedicated websites or mobile applications. Customers can browse menus, select dishes, and place orders from a variety of restaurants and eateries. The orders are then transmitted to the respective restaurants, which prepare the food and package it for delivery. Delivery personnel, often referred to as couriers, transport the orders to the customers' specified locations. This convenience-driven service has gained significant popularity due to its accessibility, ease of use, and the ability to enjoy restaurant-quality meals in the comfort of one's environment.
The increasing penetration of smartphones and high-speed internet in the United States has made it more convenient for consumers to access online food delivery platforms, browse menus, and place orders effortlessly, primarily driving the market's growth. In addition to this, the evolving lifestyle patterns of busy individuals have driven the demand for convenient dining solutions, making online food delivery an attractive option.
The United States online food delivery market is marked by intense competition among various players that encompass a diverse range of participants. Notably, third-party aggregator platforms, hold substantial market shares, leveraging their extensive networks of partner restaurants to offer customers a wide array of dining options.
These platforms compete fiercely through strategies such as offering promotional deals, loyalty programs, and user-friendly interfaces to attract and retain customers. Apart from this, restaurant chains are entering the scene with proprietary delivery apps, aiming to establish a direct connection with their patrons and reduce reliance on third-party services. Moreover, grocery delivery services and local delivery startups are diversifying the competition, offering convenience beyond restaurant meals.
Moreover, the COVID-19 pandemic strengthened the market growth as lockdowns and social distancing measures prompted a shift towards home-based dining experiences. Besides this, the availability of diverse culinary choices online from local eateries, national chains, and international cuisines on these platforms is contributing to the rising popularity of online food delivery. Furthermore, extensive collaborations between delivery platforms and restaurants to provide exclusive deals, discounts, and seamless payment options have enhanced the overall customer experience, fostering sustained growth in the online food delivery market.
United States Online Food Delivery Market Trends/Drivers
Technological advancements
The proliferation of smartphones, coupled with widespread access to high-speed internet, has fundamentally altered consumer behavior and transformed the food delivery landscape. Besides this, the convenience of ordering meals through a mobile app has significantly contributed to the market's popularity.
Moreover, the user-friendly interfaces, personalized recommendations, and efficient tracking systems have enhanced the overall customer experience, creating a positive outlook for market expansion. Apart from this, the integration of global positioning system (GPS) technology allowing real-time monitoring of delivery progress, instilling a sense of transparency and reliability in the process, is aiding in market expansion. The tech-savvy nature of modern consumers has enabled the seamless integration of online food delivery platforms into their daily routines, thus driving the market's growth.
Shifting consumer preferences
The evolving lifestyles of individuals, characterized by busy schedules, dual-income households, and an emphasis on convenience, have driven the demand for dining solutions that save time and effort. Online food delivery caters to this demand by offering a wide variety of culinary options that can be accessed from the comfort of one's home or workplace.
This trend has been further amplified by the COVID-19 pandemic, which forced a significant portion of the population to work and dine from home. Lockdowns and social distancing measures accelerated the adoption of online food delivery, leading to a sustained increase in demand. As consumers prioritize safety, the contactless nature of online orders and payments has become an attractive feature, aligning with the current health-conscious mindset.
Key Questions Answered in This Report
- What was the size of the United States online food delivery market in 2023?
- What is the expected growth rate of the United States online food delivery market during 2024-2032?
- What are the key factors driving the United States online food delivery market?
- What has been the impact of COVID-19 on the United States online food delivery market?
- What is the breakup of the United States online food delivery market based on the platform type?
- What is the breakup of the United States online food delivery market based on the business model?
- What is the breakup of the United States online food delivery market based on the payment method?
- What are the key regions in the United States online food delivery market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $29.1 Billion |
| Forecasted Market Value (USD) by 2032 | $68.6 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | United States |
United States Online Food Delivery Industry Segmentation:
Breakup by Platform Type:
- Mobile Applications
- Websites
Breakup by Business Model:
- Order Focused Food Delivery System
- Logistics Based Food Delivery System
- Full Service Food Delivery System
Breakup by Payment Method:
- Online
- Cash on Delivery
Breakup by Region:
- Northeast
- Midwest
- South
- West
For more information about this report visit https://www.researchandmarkets.com/r/wf0pe8
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