The online food delivery market size was valued at US$437.8 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% during 2021-2026. The advent of user-friendly apps coupled with changing consumer expectations has been a primary driver favoring growth. Post-pandemic lockdown and social distancing norms fostered the demand, providing some respite to the otherwise dwindling restaurant business worldwide. Soon after, food delivery due to its convenience continued its upward trajectory and captured a permanent space in the dining landscape.

Besides the pandemic, the online food delivery market growth witnessed a rapid uptake due to the proliferation of varied delivery models including one-hour, next-day, or even two-day delivery. To meet the surging demand, key trends such as increased reliance on third-party delivery partners and in-house restaurant delivery fleets are on the rise. Also, tech support from big tech firms entering this sector and food delivery subscriptions have witnessed accelerated growth over the last year and will continue during the forecast period.