Food Delivery App Development: Huge Prospects Ahead for Startups in 2020
With consumers looking for more convenience away from the cooking discomforts, on-demand food delivery app is evolving faster to lead the battle of the eCommerce food businesses.
At a Glance:
- Restaurant-to-consumer delivery is the largest market segment in the delivery business.
- Food delivery mobile app market is expected to grow $16.6 billion by 2023.
- Online food delivery market is growing at a CAGR of 9.3% and expected to reach $3,142m worth of revenue by 2024 as per statistica.com.
- Third- party food delivery apps like UberEats, DoorDash, and GrubHub account for 40% of the most apps combined.
- Consumer preferences are changing coupled by the likes of impatient younger generation.
- Incumbent third-party apps can roll out their ventures into this food delivery segment with little investment and grab the opportunity from this massive sector and also take advantage of the consumer pain points.
- Covid-19 has little impact on the growth of the on-demand food delivery service segment as lockdowns forced the transition to stop and urged consumers to opt for food delivery services more frequently.
Figure 1 Market Growth for the Global Online On-Demand Food Delivery Services 2019-2023 (Source: Businesswire)
It’s no surprise you may have ordered on-demand food once in a month. Even if you don’t, it is for sure when you are out, you probably see more than one delivery agent sweeping by the streets.
Market potentials
The picture so far clearly dissects that the on-demand food delivery service is booming. Maybe, consumers are not always eager to cook. The hefty schedules at work are a no-no to experience the afterglow of the dining rush, and again the reluctant and impatient younger consumers. Not to mention, the present ecosystem as evolved due to the Covid-19 outbreak is unleashing more potentials for restaurant and delivery services. Although not a new trend, the pandemic crisis has shot up the digital food orders as the demand soars.
Regardless of the industry and its service, every business has started feeling the hit of the economic crisis. However, the food delivery business is expected to move beyond the glares with ease. As a food startup, the whole market opens up a good opportunity for you to explore this field.
So, what prevents you from venturing into this on-demand food delivery service? No knowledge about on-demand food delivery app development? With little to no information available to you, Bytes Technolab has always expressed its keen interest to educate food startups, restaurateur, café owners to jumpstart their ventures through the successful development of on-demand food delivery apps. From designing to launching, we are an industry expert to sail you through the food delivery service market and help you scale.
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