Global Food Delivery App Market to Predicted to Surge to USD 40.2 Billion by 2031

Food delivery apps have become a staple in the modern consumer experience, driven by the growing demand for convenience and the rise of mobile-first platforms. The global food delivery app market, valued at USD 8.45 billion in 2023, is expected to expand significantly, reaching USD 40.2 billion by 2031, with a robust CAGR of 18.6%. 

Leading tech giants like Apple, Google, and Microsoft are spearheading this surge with innovative strategies and technology integration.

Market Overview

In a press release published in open PR, Verified Market Reports forecasted significant growth in the food delivery mobile application market, projecting it will grow from USD 8.45 billion in 2023 to USD 40.2 billion by 2031. The market’s rapid expansion is driven by increasing consumer demand for easy and efficient online food ordering services and improved global internet and smartphone accessibility.

Key Market Drivers

In the report, the growth of the food delivery mobile app market is largely attributed to several key factors:

• Rising Smartphone Usage & Internet Access: The widespread use of smartphones and improved internet connectivity has made it easier for consumers to access food delivery services at their fingertips.
• Consumer Preference for Convenience: As consumers’ lifestyles become busier, the demand for quick, convenient meal options has skyrocketed. Food delivery apps offer a contactless, quick, and easy way to dine at home or work.
• Technological Advancements: Companies like IBM, Microsoft, and Google are leading the way in integrating AI, machine learning, and real-time tracking into their platforms, improving user experience and operational efficiencies.
• Post-Pandemic Lifestyle Shifts: The COVID-19 pandemic accelerated the adoption of food delivery apps as consumers sought safer dining options.

Major Companies & Strategies

Industry giants such as Apple, IBM, Microsoft, Google, SAP, and Red Hat significantly influence the market. These companies have adopted competitive strategies, including technological advancements, partnerships with restaurant chains, and expanding into new regions. Leveraging AI, cloud computing, and data analytics, they enhance delivery systems and personalize customer experiences to stay ahead in the competitive market.

Future Outlook and Opportunities

The future of the food delivery app market looks promising, with several emerging trends set to drive further growth. AI adoption, the integration of autonomous delivery systems, and the expansion into emerging markets are among the opportunities shaping the sector. Additionally, the increasing focus on sustainability will see more companies adopting eco-friendly practices, from energy-efficient processes to waste reduction initiatives.

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