Is food delivery an industry?

Yes. Food delivery is a fast-growing industry. The advent of food delivery apps has increased the speed and accessibility of obtaining your favorite foods. Now you can order your favorite food from the restaurant downtown and have it delivered to your front door.

In addition, online delivery platforms are also increasing customers’ convenience and choice by offering tempting discounts and deals. With a mere tap on the app, customers may order from any restaurant.
According to a global market report on online food delivery services, this market is set to expand to 154.34 billion USD by 2023. In the United States, the food delivery industry is driven by high-income earners who don’t get time to cook meals at home and hectic work schedules. 

How big is the food delivery industry?

In the United States, the food delivery industry reached 18.5 billion USD in 2020. By the year 2026, this figure is expected to hit 33.7 billion USD, at a continued annual growth rate (CAGR) of 10.5%. This growth is bolstered by user-friendly apps, growth in urban areas, and innovations in food delivery services, i.e. use of drones, robots, and self-driving cars. 

Will food delivery grow?

It has become a lot simpler to order your favorite dishes from restaurants. In the past five years, restaurant deliveries have bloomed by 20%. In addition, sales of online food delivery will grow to $220 billion by the year 2023. This will account for nearly 40% of restaurant sales. Yes. Food deliveries will continue to grow.