Although the explosive growth seen during the pandemic has leveled off, the online food delivery industry continues growing, with no signs of stopping any time soon. With the market's largest players continuously innovating and expanding their services, people are spending more and more money on food delivery services, which proves them to be the number one choice for meal and grocery orders.
According to data presented by Stocklyics.com, people worldwide have spent a shocking $5.38 trillion on food and grocery delivery since 2017, and this figure will practically double in the next four years.
Annual Spending on Food Delivery Apps Skyrocketed by 415% in Seven Years
Only a few industries have seen explosive growth amid the COVID-19 pandemic, such as online food delivery. What started as a must-do during the lockdowns became a trillion-dollar industry with billions of users worldwide.
The pandemic not only accelerated the adoption of food delivery apps but also changed consumer behavior, making online food delivery a regular part of people's lives. In 2024, roughly three billion people will use mobile apps to order meals and groceries, three times more than in 2017. This massive user base has spent a shocking amount of money in the past eight years.
According to a Statista survey, consumers worldwide have spent $5.38 trillion on online food delivery since 2017, more than the GDP of Japan or Germany. Almost 60% of that value, or $3.21 trillion, was spent on grocery delivery, and the remaining $2.17 trillion on meal delivery.
Furthermore, statistics show that annual spending on food delivery apps skyrocketed by 415% in this period, rising from $240 billion in 2017 to $1.23 trillion this year.
When it comes to total spending on food delivery apps, Americans lead the global pack. Between 2017 and 2024, they outspent other nations, reaching a total of $2.06 trillion on online meal and grocery orders, nearly half a trillion dollars more than the Chinese.
The UK market, while smaller, still saw significant spending, with Britons contributing close to $240 billion. However, Statista's projections show all three markets will see even more substantial spending in the next four years.
On a global level, people are forecasted to spend a further $5 trillion on food delivery apps by 2028, only 6% less than in the past eight years. Americans will increase their spending by 6% to $2.2 trillion in this period. The Chinese food delivery market will see even more significant growth.
Between 2025 and 2028, the Chinese are forecasted to spend $1.93 trillion on online food delivery, or 33% more than in the past eight years. The UK market will see a much smaller increase of 3% and $246 billion spent in this period.
Over 700 million People to Flock to Food Delivery Apps by 2028
With the market's largest players like Uber Eats, Just Eat, Deliveroo, and Doordash improving and expanding their services and even offering subscription models and loyalty programs, the number of users in the food delivery segment will skyrocket in the following years.
Since 2017, around 2.1 billion people started using food delivery apps, pushing the total number of users in the market to over three billion, or 37% of the world's population.
Statista expects another 700 million consumers to flock to food delivery apps in the next four years, helping the total number of users in the market to rise to 3.7 billion.
