A growing global market
Around two decades ago, restaurant meals available for delivery were still very limited to fast food such as pizza and Chinese. Nowadays, food delivery has become a global market worth more than $150 billion—having more than tripled since 2017. To put this in perspective, the global market for food delivery is now almost as large as the global gaming market.
What is extra interesting about this explosive growth is that the order volumes have not returned to its previous magnitude after the pandemic, which many thought it would. In fact, the market has continued to grow after COVID-19, although of course not as quickly.
An evolving economic structure
As the food delivery ecosystem continues to expand and change consumer habits worldwide, its economic structure is still evolving. Considerations such as delivery infrastructure, operating efficiency and breadth of offerings are all vital questions and challenges for companies trying to take a slice of this gigantic and emerging pie.