The Growth of Food Delivery App Market

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submitted 4 years ago by benluis to business

Now, why should one venture into developing a food delivery app? Let’s take a look at the market stats that can help us conclude,

  • The online food delivery market will surpass $400 billion by 2025.
  • The online food delivery market is expected to grow at a CAGR of 31.76% between 2019 and 2024.
  • According to Morgan Stanley, 65% of people prefer apps over phone calls while ordering food.
  • It is to be noted that the market was $260 billion in 2017 and rose to $325 billion in 2020.
  • Almost 60% of the restaurants have agreed that online platforms have boosted their sales substantially.

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