According to the recent research report titled ‘Global Online Food Delivery Market (2021 Edition) - Analysis By Platform Type (Website, Application), Business Model, Payment Method (Online, Cash on Delivery), By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with Market Study Report LLC, global online food delivery market was valued at USD 107.26 billion in 2020 and is predicted to witness considerable growth over 2021-2026.
 

Increase in number of smartphone users, and subsequent rise in online shopping for food & beverages are promulgating global online food delivery market growth.
 

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With continued lockdown regulations and consumer preference for convenience & faster delivery, it is safe to predict that the growth of third-party online food delivery services will continue apace, with a few new firms entering the marketplace.
 

Citing an instance, Just Eat Ltd. acquired Takeaway.com in 2020, and Grubhub Inc., a significant online and mobile meal-ordering and delivery platform, in a USD 7.8 billion deal in June 2021, indicating consolidation of the online food delivery sector.
 

Likewise, Delivery Hero SE acquired Woowa Brothers Corp. (South Korea), Zomato food delivery business (MENA), and Delivery RD (Dominican Republic) in 2019, as well as Glovo (Latin America), and InstaShop Ltd. (MENA) in 2020.
 

Considering factors restraining the industry expansion, high cost of delivery continues to act as a challenge for businesses operating in this domain.  
 

As per business model, global online food delivery market share from order focused delivery system segment is predicted to observe notable growth through 2026, due to expansion of businesses and industries at regional and local levels.
 

Speaking of regional terrain, Latin America, Asia Pacific, Europe, and North America are the top contributors to the overall industry remuneration. The report states that Asia pacific industry is projected to accrue remarkable profits over the next five years, creditable to rapid urbanization, and increasing customer spending on convenience food in emerging economies.
 

Prominent firms operating in worldwide online food delivery market sphere are Just Eat Ltd., Meituan Waimai, Grubhub Inc., Dunzo, Swiggy, Postmates, Uber Eats, DoorDash Inc., Yum Brands Inc., and Delivery Hero SE.