Flexographic Printing Machine Market Assessment, By Design [In-line press, Stack Press, Central Impression Press], By Automation [Automatic, Semi-automatic], By Application [Corrugated packaging, Cartons, Steel Sheet, Woven Polyester Fabric, Flexible Pack

Flexographic Printing Machine Market Assessment, By Design [In-line press, Stack Press, Central Impression Press], By Automation [Automatic, Semi-automatic], By Application [Corrugated packaging, Cartons, Steel Sheet, Woven Polyester Fabric, Flexible Packaging, Others], By End-user Industry [Food and Beverage, Medical and Pharmaceutical, Consumer Goods, Others], By Region, Opportunities and Forecast, 2017-2031F

Global online food delivery market is projected to witness a CAGR of 10.06% during the forecast period 2024-2031, growing from USD 191.74 billion in 2023 to USD 412.80 billion in 2031.

The online food delivery market is booming due to changing consumer preferences, tech advancements, and the ease of meal delivery. With more dual-income households and busy lifestyles, the demand for quick, restaurant-quality meals without the hassle of cooking has surged. App-based platforms and smartphones make ordering simple, while the pandemic has increased the popularity of contactless delivery. The variety offered, from fast food to healthy options, caters to diverse diets, drawing a broad customer base. Improved delivery logistics and partnerships between restaurants and delivery apps enable businesses to reach more customers, often boosted by targeted discounts and loyalty programs. This sector has become integral to modern consumer behavior, and its growth is expected to continue as technology and delivery networks evolve.

In May 2024, Just Eat Takeaway.com expanded its collaboration with Amazon, allowing United States customers to order from Grubhub directly on Amazon.com and the Amazon Shopping app. Prime members get a free ongoing Grubhub+ membership valued at USD 120 per year, which includes no delivery fees on eligible orders, lower service fees, 5% credit back on pick-up orders, and exclusive offers. This partnership makes online food delivery more accessible and affordable, enhancing convenience and incentivizing more customers to use the service, thereby driving growth in the online food delivery market.

Convenience and Lifestyle Changes to Drive Market Growth

Convenience and lifestyle changes are significant drivers of growth in the global online food delivery market. As people’s lives become busier with work, family, and social commitments, many are seeking quick and hassle-free meal solutions that online food delivery services provide. Instead of spending time cooking or dining out, customers can now order from a wide variety of restaurants and have meals delivered directly to their homes or workplaces, fitting perfectly into their busy routines. The rise of remote work and digital lifestyles has further boosted demand, as individuals increasingly prefer the comfort and efficiency of enjoying restaurant-quality meals without leaving home. This convenience appeals to a broad demographic, from professionals to students and families, fueling the online food delivery market's expansion across different regions and age groups, as they prioritize time-saving options that offer flexibility in meal choices.

In May 2024, Uber Eats acquired Delivery Hero’s foodpanda delivery business in Taiwan for USD 950 million, completing the deal by mid-2025. This acquisition combined Uber's global expertise with foodpanda's strong local presence, offering consumers more choices and improved services. By integrating customer bases, merchant selections, and geographic coverage, the deal enhanced convenience, efficiency, and value in Taiwan's competitive food delivery market. The move reflected confidence in Taiwan's long-term attractiveness for international investments, driving significant growth in the online food delivery sector. The acquisition strengthened Uber Eats' market position, providing broader service coverage, improved logistics, and expanded restaurant options, thereby boosting customer satisfaction and driving growth in the online food delivery market.

Technology and Smartphone Penetration to Drive Market Growth

Technology and smartphone penetration are key factors propelling the growth of the global online food delivery market. With the widespread use of smartphones, consumers now have easy access to food delivery apps, making ordering food as simple as a few taps on their screens. High-speed internet and reliable mobile networks further support this, enabling fast and seamless transactions and real-time tracking of orders. Many food delivery platforms have integrated secure one-click payment options and AI-driven personalization, enhancing the user experience by offering tailored restaurant suggestions and discounts based on browsing habits. The rise of digital wallets and mobile payment systems has made online transactions more secure and convenient, encouraging more users to adopt online ordering. As smartphone use and digital literacy grow worldwide, the accessibility and ease of technology continue to drive demand, opening new opportunities in the online food delivery market across diverse regions.

In April 2024, DoorDash and Walgreens partnered to offer SNAP/EBT payment options at nearly 7,800 Walgreens stores nationwide making DoorDash the first platform to enable SNAP purchases directly from Walgreens. This collaboration expands food access to over 14 million people living in food deserts and 40 million in communities where 1 in 10 households receive SNAP benefits. Since supporting SNAP/EBT payments in 2023, over 1.1 million consumers have added their SNAP/EBT cards to DoorDash. This initiative allows consumers to order more than 4,000 SNAP-eligible products for delivery within an hour from Walgreens, improving access to essential groceries and pantry staples. The partnership further supports food access by offering SNAP/EBT users zero delivery fee on up to three orders at Walgreens.

Mobile Applications to Dominate the Online Food Delivery Market Share

Mobile applications dominate the share of the online food delivery market combined with convenience, user-centric features, and strategic partnerships with a wide range of local and national restaurants. It leverages real-time tracking, personalized recommendations, and an intuitive interface that simplifies the ordering process for users. The app encourages repeat use and customer loyalty by offering various payment options, discounts, and loyalty rewards. Strong partnerships with delivery providers ensure timely and reliable service, while data-driven insights allow the app to continuously optimize user experience and restaurant options. Its competitive advantage lies in leveraging technology to streamline operations and enhance delivery efficiency, often outperforming local rivals in terms of speed and customer satisfaction. The app frequently adapts to market trends, such as eco-friendly packaging and diet-specific options, meeting diverse consumer demands and securing its position as the leading choice in online food delivery.

In April 2023, Asda expanded its partnership with Deliveroo, launching its first Deliveroo HOP site in Tottenham Hale and extending its core grocery partnership to an additional 100 locations across the United Kingdom, totaling 350 stores. Deliveroo HOP, which offers faster service and better product availability, will initially be trialed at Asda's new Tottenham Hale convenience store. This initiative is part of Asda's strategy to enhance its convenience offering and provide customers with more flexible shopping options. Simon Gregg of Asda and Carlo Mocci of Deliveroo expressed excitement about the expansion, highlighting the benefits of improved service and greater choice for customers. This move supports Asda's broader goal of becoming the United Kingdom's number two grocery retailer by 2026. By integrating advanced delivery technology and leveraging strategic partnerships, this move sets a new standard for rapid delivery, thus accelerating the overall growth of the online food delivery market.

Asia-Pacific to Dominate the Online Food Delivery Market Share

Asia-Pacific dominates the share of the share of the online food delivery market due to its large population, rapid urbanization, and high smartphone penetration, especially in countries such as China, India, and Southeast Asia. The region's younger tech-savvy population is quick to adopt digital platforms, and the growing middle class demands convenience. Fierce competition among local players such as Meituan in China, Grab in Southeast Asia, and Zomato in India drives innovation and competitive pricing. Strategic partnerships, investments, and a focus on fast, reliable delivery further fuel market growth, making Asia the world’s largest and fastest-growing market for online food delivery.

In March 2024, Tele2 and foodora announced a groundbreaking collaboration to deliver food using IoT and 5G-connected drones. Starting this spring in Värmdö, outside Stockholm, foodora Air will deploy electric drones to provide fast and efficient delivery from various restaurants. These drones, developed by Aerit, will lower orders directly to customers' properties or gardens using cables. This initiative aims to extend beyond urban areas, potentially revolutionizing rural service access. The drones, which emit significantly less carbon dioxide compared to traditional vehicles, will be continuously connected via Tele2's 5G technology. This partnership marks a significant advancement in sustainable and innovative delivery solutions. This collaboration will enhance the online food delivery market by offering faster, more efficient, and eco-friendly delivery options, leveraging advanced technology to meet consumer demands in urban and rural areas.

Future Market Scenario (2024 – 2031F)

Larger players may continue acquiring smaller companies, creating a more consolidated market. This could lead to fewer options but improved efficiencies, economies of scale, and wider reach

With the rise of dark kitchens and hyper-localized delivery, many companies may offer faster delivery services, aiming for deliveries in 10-15 minutes. This quick commerce trend may focus on high-demand items such as snacks, drinks, and meal essentials.

As environmental concerns grow, online food delivery companies may invest in sustainable practices, such as eco-friendly packaging, carbon offsetting, and electric delivery vehicles. Some may even promote locally sourced food options to reduce their environmental impact.

AI-powered recommendations and autonomous delivery vehicles (drones, robots) may become more common. AI could optimize routes, predict customer preferences, and help personalize marketing, while automation would reduce delivery costs and increase scalability.

Key Players Landscape and Outlook

Companies in the global online food delivery market are leveraging technology, expanding partnerships, and adapting to consumer demands to stay competitive. Many are investing in AI and data analytics to personalize recommendations and streamline logistics, ensuring quicker and more efficient deliveries. Partnerships with local restaurants, grocers, and ""ghost kitchens"" help broaden menu offerings while reducing operational costs. Major players are focusing on regional expansion and offering multilingual support to reach a wider audience. Some platforms include loyalty programs, discounts, and subscription services to enhance customer retention. Companies are integrating eco-friendly practices such as reducing packaging waste to appeal to environmentally conscious consumers. With the rise of mobile ordering, companies are optimizing app interfaces for better user experiences and convenience.

In December 2023, McDonald’s announced a new multi-year global partnership with Google Cloud to integrate its technology across thousands of restaurants worldwide. This collaboration aims to enhance McDonald's restaurant technology platform with Google Cloud's hardware data and AI technologies. The partnership will accelerate innovation, improve customer experiences, and streamline operations. McDonald's plans to leverage edge computing from Google Cloud to power new platforms, enabling better insights and reducing business disruptions. This initiative will roll out advancements to McDonald's mobile app, self-service kiosks, and loyalty programs. A dedicated Google Cloud team will work closely with McDonald’s innovation center to apply generative AI, enhancing convenience and value for customers. This strategic move is expected to redefine the fast-food industry with cutting-edge technology solutions. By leveraging Google Cloud's capabilities, this partnership will significantly boost efficiency and customer satisfaction in McDonald's operations, driving growth in the global online food delivery market.