How Much is the Food Delivery Industry Worth in 2024?

Since the global pandemic and the lockdowns, more people have heavily relied on food delivery services.

Likewise, food delivery service providers and companies have heavily invested in more technology that revolve around AI, smartphone apps, and robotics to improve the customer experience.

These things combined have driven robust growth in online food delivery overall global market.

So, how much is the food delivery industry worth in 2024?

This article will address this topic and strive to enlighten you about this industry going into 2024 and beyond.

We will discuss the worth, some demographics, and data that consumers and food delivery businesses need to know.

Let’s briefly explore the food delivery industry.

Post Contents

1 Key Statistics
2 How Much is the Food Delivery Industry Worth in 2024?
3 FAQs
4 Conclusion
- 4.1 Sources

Key Statistics

The global online food delivery market generated $770 billion (USD) in 2022.
The market size of the online food delivery market was $160.3 billion (USD) in 2022.
Roughly 51% of restaurants shifted to cloud kitchens in 2020.
By 2024, the grocery delivery sector is expected to generate 22.2% more revenue.
The mobile apps platform segment held the biggest share of food delivery in 2022.
Per user, the average grocery delivery sector is expected to reach $449 (USD) in 2023.
The meal delivery segment is expected to reach 2.5 billion users by 2027.
The Asia Pacific region has a share of 37% of the globe online food delivery market.
Meituan generates the most revenue among food delivery services on the globe.

How Much is the Food Delivery Industry Worth in 2024?

1. The global online food delivery market generated $770 billion (USD) in 2022.

Data shows that the global market size of the food delivery market in 2022 was estimated at $770 billion (USD).

The grocery delivery market accounted for $460 billion (USD) of that total estimate.

The food delivery global market is expected to reach $1.4 trillion in revenue by 2027.

(Statista²)

2. The market size of the online food delivery market was $160.3 billion (USD) in 2022.

In terms of the global online food delivery market size, it generated a value of $160.3 billion (USD) in 2022.

This is expected to grow at a CAGR of 12% between 2023 and 2032 reaching $483.9 billion (USD) by 2032.

Again, grocery delivery accounts for most of those billions of dollars.

(Globe Newswire)

3. Roughly 51% of restaurants shifted to cloud kitchens in 2020.

Data tells us that in 2020 during the surge of the pandemic, about 51% of restaurants shifted to the cloud kitchens ideal.

They rapidly expanded their restaurants across multiple establishments and branches with very little upfront costs.

Today, restaurants are still using cloud kitchens to help people get their food delivered to their homes or offices.

(Grandview Research)

5. By 2024, the grocery delivery sector is expected to generate 22.2% more revenue.

Analytical data revealed that by 2024, the grocery delivery segment alone will achieve revenue growth of 22.2% more than 2023.

The United States grocery delivery segment has a projected volume of $.63 trillion (USD) by 2023.

At the global level, China is expected to generate the most revenue at $395.9 million by the end of 2023.

(Statista)

6. The mobile apps platform segment held the biggest share of food delivery in 2022.

In terms of platforms used for food delivery services, mobile apps had the largest share of the market in 2022.

This platform segment was expected to reach over $62.8 million (USD) by 2030 at a CAGR of 25% between 2021 and 2030.

(Allied Market Research, Globe Newswire)

7. Per user, the average grocery delivery sector is expected to reach $449 (USD) in 2023.

More data about the grocery delivery segment of the food delivery overall market shows that $449 (USD) is expected to be spent per consumers in 2023.

This data is calculated according to the average revenue per user (ARPU).

(Statista)

8. The meal delivery segment is expected to reach 2.5 billion users by 2027.

More people are jumping on the food delivery wagon, including for meal delivery.

In fact, by 2027, the number of users is expected to reach 2.5 billion people.

The overall user penetration in the meal delivery sector of the market is forecast to reach 25.2% in 2023.

(Statista)

9. The Asia Pacific region has a share of 37% of the globel online food delivery market.

As of 2022, the Asia Pacific region dominated the total global online food delivery market with a 37% market share.

In Europe, it’s expected to experience the highest CAGR across the continent in food delivery.

(Globe Newswire)

10. Meituan generates the most revenue among food delivery services on the globe.

Meituan, a China O2O (online-to-offline) shopping platform generates the most revenue in the world among food delivery services at $13.7 billion (USD).

Uber Eats is second with generated revenues of $4.8 billion (USD).

Delivery Hero (German-based food delivery service) accounts for $3.39 billion (USD) in revenues and DoorDash (U.S. based food delivery service) is fourth in revenue generation at $2.86 billion (USD).

(Emergen Research)

FAQs

How Much Does It Cost to Use Food Delivery Services?

There’s no single answer to how much it costs to get food delivered to your home, office, dorm, etc.

Some things that will impact the cost of food delivery include the proximity of the restaurant or store, the order size, and the time of day.

On average, food delivery consumers can expect to pay about $8.50 for an order, delivery fees, service fees, and tips/gratuities.

What Food Delivery Services are Most Popular?

In the United States, DoorDash, Uber Eats, and Grubhub are the most popular food delivery services.

This is because they have a wide range of restaurants with which they partner and convenient features like contactless delivery and live order tracking.

What are Some Benefits of Using Food Delivery Services?

We did some digging and found these benefits of using food delivery services:

1. It’s Convenient: Food delivery lets you order food from your favorite restaurant or fast-food place without having to leave their office or home.
2. Wide Variety: Food delivery services usually have a wide range of restaurants from which customers can choose to find what they want to eat.
3. It’s Affordable: Most of the time, food delivery services are affordable and/or offer promotions and discounts to regular customers.

Essentially, food delivery service providers offer affordable and convenient ways to get the food you want when you want it.

Conclusion

Now we have data about the overall value of the global food delivery market and that grocery delivery has the highest market share in usage.

Moreover, we know how much revenue has been generated by the top food delivery services in the world.

This data shows us how massive the food delivery market is in 2023 and that it will continue in the coming years.

We hope we have enlightened you about the food delivery service and answered the question, “How much is the food delivery industry worth?”, to your satisfaction.