Technavio has been monitoring the food delivery services market and it is poised to grow by $ 215.56 bn during 2020-2024, progressing at a CAGR of over 12% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the food delivery services market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Increasing partnerships between restaurants and food delivery service providers is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 12% and the incremental growth of the market is anticipated to be $ 215.56 bn.
Who are the top players in the market?
Alibaba Group Holding Ltd., Delivery Hero SE, Glovoapp23 SL, Grab Holdings Inc., Just Eat Plc, Meituan Dianping, Postmates Inc., Roofoods Ltd., Just Eat Takeaway.com NV, and Zomato Media Pvt. Ltd., are some of the major market participants.
What is the key market driver?
The growing mergers and acquisitions is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute to 62% of the market share.
