The global hyperlocal food delivery market is predicted to witness a moderate growth rate of 8.3% during the forecast years of 2022 to 2032. The net worth of the hyperlocal food delivery market share is expected to reach US$ 493.9 Billion by the year 2032 while increasing from US$ 222.5 Billion in the year 2022.
Online meal ordering has been getting increasingly popular in recent years. One of the primary factors driving the hyperlocal food delivery market growth is the increasing proliferation of technology and online connections, which allow meals to be delivered swiftly and easily. As a result, the demand for hyperlocal food delivery market services is being fuelled by a growing number of mobile users and internet penetration.
Consumers have the facility to access a broad variety of food goods via their cell phones, with the added convenience of having them delivered to their doorsteps. Furthermore, hyperlocal food delivery services assist food service businesses in a variety of ways, for example, labour savings, since employees are not required to spend hours on the phone or at the counter.
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Pursuant to government-imposed lockdowns during the Covid-19 pandemic, consumers had been confined to their homes, prohibiting them from engaging in normal purchasing activities. To keep viable, several eateries have shuttered or consequently turned to a takeaway model that has swelled the hyperlocal food delivery market statistics for the present years.
Other important advantages of hyperlocal food delivery for service companies include greater consistency of online orders, higher guest convenience, simplified order processing, and so on.
Furthermore, online meal ordering may give food service operators valuable client information that can be used to develop promotional tactics such as targeted promotions to generate off-peak demand, specially tailored to certain customer categories, and couponing techniques that have boosted hyperlocal food delivery market adoption trends.
The U.S. citizens’ excellent living standards continue to drive the demand for online food delivery services in the region. Doordash, Uber Eats, Postmates, GrubHub -Seamless, and Caviar, among the leading companies in North America, are pursuing methods such as new product development, worldwide growth, acquisitions, and financing in order to grow the hyperlocal food delivery business.
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Key Takeaways
- On the basis of broad geographical regions, North America is the highest contributor of the hyperlocal food delivery market which stands at almost 36.8% of the total revenue generated globally.
- Top three performing economies for the global hyperlocal food delivery market, namely United States, China and Germany together account for almost 38.5% of the total shares.
- Home delivery segment, consisting of retailers and third party delivery service providers is the dominant segment, accounting for almost 89.5% of hyperlocal food delivery market size.
Competitive Landscape for Hyperlocal Food Delivery Market Key Players
Name of some of the hyperlocal food delivery market key players includes Uber Eats, Just Eat, Grubhub, Takeaway.com, DoorDash, Postmates, Deliveroo, Delivery Hero, Ele.Me, Meituan Dianping, Rappi, Jumia Food, Damae-can, iFood, Zomato, and Yandex.Eda among others.
Recent Developments in Hyperlocal Food Delivery Market
- In the year 2021, Delivery Hero Company purchased Hugo’s food and meal ordering verticals, extending the company’s reach throughout Central America and the Caribbean islands.
- Grab Holdings, which is hailed to be one of the largest ride-hailing and food-delivery start-ups in Southeast Asia, announced a US$ 40 Billion merger with Altimeter Growth Corp. in 2021 following the pandemic lockdown.
- Last year, Uber Technologies Inc. achieved its plan of acquiring Drizly, and the two companies are likely to merge their complementary delivery software and processes in the following years. According to hyperlocal food delivery market report, the purchase price was roughly figured out to be around US$ 1.1 billion, including the US$ 18.7 Million payment in freshly issued Uber common shares.
Key Segments
By Food Type:
- Salads
- Sandwiches and Burgers
- Soups
- Appetizers & Snacks
- Pizza
- Prepared Entrees
- Breakfast
- Lunch & Dinner
- Desserts
- Beverages
- Tea & Coffee
- Smoothies & Shakes
- Juices
- Other Types
By Business Model:
- Single Store Model
- Store Pick Model
- Hybrid Model
- Aggregator Model
By Delivery Type:
- Restaurant to Consumer
- Platform to Consumer
By Payment Method:
- Cash on Delivery
- Online Payment
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Frequently Asked Questions
- What is the Growth Outlook of the Hyperlocal Food Delivery Market?
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- Which Region has the Highest Growth Potential in the Hyperlocal Food Delivery Market?
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