Jun 6,2019 | Food
It is common to see food getting delivered from traditional restaurants by using the smart gadgets -phone, watch, TV or a personal computer. Within the e-commerce industry, online food delivery has emerged as one of the most fast-paced development. The food business has transformed considerably, as consumers can now choose from a wide variety of cuisines, anywhere, anytime from a range of restaurants listed online. Moreover, with no minimum order value and various payment options, it becomes a win-win situation for all.
According to the reports by Statista, online food delivery is booming in China, followed by the US, India, the UK and Germany. China online food delivery market was worth US$ 35.9 Billion in 2018. China’s strong economic growth, changing lifestyles and increasing penetration of internet and smartphones are some of the key drivers of this market. Moreover, China’s large young population, who constitutes the majority of the consumer base, has further facilitated this growth. Urban dwellers, who lead a hectic lifestyle, tend to order food online more frequently than others.In the take-out business, pizza is a major player, with global sales totaling to US$144.7 billion in 2018, including US$3.6 billion in China. Some of the major online food-delivery companies in China include Ele.me, Meituan Dianping, ENJOY, Daojia, Home-cook, etc. The market however is mainly dominated by two players Meituan Dianping, supported by the internet giant Tencent, and Ele.me, backed by Alibaba. Key players in the country are now focusing on expanding their operations into smaller cities, which have a strong growth potential as they are less developed markets than big cities such as Beijing and Shanghai. Players are also expanding their product offerings and targeting non-peak eating times such as afternoon tea or late-night snacks.The latest report by Markets Reports on China, gives an insight into the China Online Food Delivery market, covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the China online food delivery market in any manner.To know how the China online food delivery market has performed so far and how will it perform in the coming years, please refer to China Online Food Delivery Market Forecast 2019-2024.